85298
Phoenix, Arizona
Phoenix 85298 is stable.
The 85298 ZIP code in Phoenix, Arizona has a median sale price of $689K, up +1.4% year-over-year. Homes spend an average of 74 days on market, with 7% of homes selling above list price.
Folio's PropIQ™ score of 65 signals Caution conditions. This market is holding steady. Monitor inventory shifts before committing.
The 85298 market shows tepid appreciation with the median sale price reaching $689,495, up just 1.4% year-over-year—barely outpacing inflation. Homes are taking 74 days to sell, indicating softened buyer urgency compared to recent peak conditions. Only 7% of properties are closing above asking price, signaling limited bidding competition and a shift toward normalized negotiation dynamics. This price point reflects Gilbert's premium positioning within the Phoenix metro, though momentum has clearly decelerated from prior years.
These conditions favor patient buyers with financing secured who can capitalize on extended negotiation windows. The 74-day absorption period allows for thorough due diligence and price discovery without pressure from competing offers. Sellers with equity cushions from previous appreciation cycles can still exit profitably, but those expecting 2021-2022 velocity will face reality adjustments. Investors seeking cash flow should recalculate assumptions given the slower turnover and minimal price acceleration eroding margin projections.
The PropIQ score of 65 signals caution, suggesting underlying fundamentals don't support aggressive positioning from either side. Watch inventory accumulation rates and mortgage rate sensitivity as primary leading indicators—any spike in available homes without corresponding price cuts would confirm further softening. The modest 1.4% gain may represent a near-term ceiling unless employment growth or rate relief catalyzes demand, making the next 90 days critical for trend confirmation.
What is the median home price in 85298 Phoenix?
The median sale price in 85298 is $689K, up +1.4% year-over-year as of 2026-02-28.
How long do homes stay on the market in Phoenix 85298?
Homes in 85298 Phoenix spend an average of 74 days on market before going under contract.
Is Phoenix 85298 a good place to invest in real estate?
Folio's PropIQ™ score for 85298 is 65/100 — a Caution signal. 7% of homes sold above asking.
What does a PropIQ™ score of 65 mean for 85298?
PropIQ™ is Folio's proprietary market score combining price momentum, days-on-market velocity, inventory absorption, and investment signals into a 0–100 number. Score of 65 = Caution in 85298 Phoenix, Arizona.