85301
Phoenix, Arizona

ZIP code 85301 shows sustained price momentum with a median sale price of $315,000, up 17.0% year-over-year as of February 2026. Homes are moving at a moderate pace, averaging 53 days on market, while 16% of sales close above asking price—indicating selective competition rather than widespread bidding wars. The market demonstrates neither distress nor overheating, operating in a middle zone where price appreciation continues without the velocity seen in peak conditions.

This environment favors buyers with flexible timelines who can avoid the 16% of transactions requiring premium bids. Sellers benefit from double-digit appreciation but face nearly two months of market exposure, making aggressive pricing less effective than during tighter inventory periods. Investors seeking cash flow should model the $315,000 basis carefully, as the 17% annual gain may have compressed cap rates beyond sustainable rental yields in this price segment.

The PropIQ score of 70 signals neutral conditions with monitoring warranted—appreciation continues but lacks the fundamental strength of higher-scored markets. The 53-day absorption rate suggests inventory levels are approaching balance, which typically precedes deceleration in price growth. Watch for changes in the above-list percentage and days-on-market trends; movement in either metric will likely precede any shift in the current 17% appreciation trajectory.