85340
Phoenix, Arizona
Phoenix 85340 needs watching.
The 85340 ZIP code in Phoenix, Arizona has a median sale price of $530K, down -1.2% year-over-year. Homes spend an average of 111 days on market, with 13% of homes selling above list price.
Folio's PropIQ™ score of 55 signals Caution conditions. Elevated price drops and longer days on market indicate softening in 85340.
The 85340 market shows cooling momentum with a median sale price of $529,745, down 1.2% year-over-year, marking a shift from the appreciation cycles of previous years. Homes are averaging 111 days on market, significantly above the rapid turnover rates seen in competitive markets. Only 13% of properties close above list price, indicating sellers hold minimal pricing power and buyers face reduced bidding pressure in this Phoenix-area ZIP code.
Price-sensitive buyers gain structural advantages in these conditions, with extended days on market creating negotiation leverage and time for thorough due diligence. Investors seeking cash flow over appreciation should model conservative exit assumptions given the negative price trajectory. Sellers with flexible timelines can still transact near $530,000, but those requiring quick liquidity face a market where 87% of buyers successfully negotiate at or below asking price.
The PropIQ score of 55 signals caution, suggesting continued price pressure without clear catalysts for near-term recovery. The 111-day absorption rate indicates inventory is moving slowly enough to prevent sharp declines but too slowly to support price growth. Monitor the percentage of homes selling above list—any movement below 10% would confirm further buyer dominance, while increases above 20% would signal the beginning of market stabilization.
What is the median home price in 85340 Phoenix?
The median sale price in 85340 is $530K, down -1.2% year-over-year as of 2026-02-28.
How long do homes stay on the market in Phoenix 85340?
Homes in 85340 Phoenix spend an average of 111 days on market before going under contract.
Is Phoenix 85340 a good place to invest in real estate?
Folio's PropIQ™ score for 85340 is 55/100 — a Caution signal. 13% of homes sold above asking.
What does a PropIQ™ score of 55 mean for 85340?
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 55 = Caution in 85340 Phoenix, Arizona.