85382
Phoenix, Arizona

The 85382 ZIP code shows a median sale price of $440,000 as of late February 2026, down 3.1% year-over-year, signaling a modest price correction in this Phoenix submarket. Homes are moving at a measured pace, averaging 64.5 days on market, while only 11% of properties sell above asking price. This combination of negative price growth and subdued buyer urgency indicates a material shift from previous seller-dominated conditions, with market power transferring toward purchasers who can negotiate terms.

This environment favors price-sensitive primary homebuyers and patient investors willing to negotiate. The 11% above-list figure means 89% of transactions close at or below asking, creating room for offer adjustments and inspection-based concessions. Sellers facing the 64.5-day absorption period must price competitively from listing day one, while buyers gain leverage absent in tighter markets. Investors seeking cash flow over appreciation will find the -3.1% decline reduces entry costs compared to 2025 levels.

The PropIQ score of 55 signals caution, suggesting further softening remains possible before stabilization occurs. With days-on-market elevated and below-list sales dominant, monitor inventory accumulation and subsequent price-cut activity as leading indicators. The current data points do not support aggressive buying urgency or seller premium expectations; patience and disciplined underwriting should guide transaction decisions through mid-2026 as this correction cycle matures.