85383
Phoenix, Arizona
Phoenix 85383 needs watching.
The 85383 ZIP code in Phoenix, Arizona has a median sale price of $641K, down -1.7% year-over-year. Homes spend an average of 90 days on market, with 8% 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 85383.
The 85383 submarket recorded a median sale price of $641,270 as of February 2026, down 1.7% year-over-year, signaling a shift from the appreciation cycles that defined Phoenix's outer suburbs. Homes are averaging 90 days on market, more than double the velocity seen during peak demand periods, while only 8% of transactions close above asking price. This combination of price compression and extended absorption indicates buyers have regained negotiating leverage after multiple years of seller-controlled conditions.
Cost-conscious buyers with flexible timelines benefit most from current conditions, as the 90-day market cycle provides room for inspection negotiations and contingency periods that were impractical 18 months ago. The single-digit above-ask percentage means offers at or slightly below list have reasonable acceptance odds. Long-term investors seeking cash-flow properties may find entry points, though the negative 1.7% price trajectory requires underwriting conservative appreciation assumptions for 12-24 month hold periods.
The PropIQ score of 55 reflects measured caution rather than distress, suggesting stabilization rather than capitulation. Buyers should monitor whether days-on-market contracts below 75 or expands beyond 100, as either directional move will clarify if this represents equilibrium or continued softening. The lack of significant above-list activity means any return to sub-60 day absorption would signal genuine demand recovery rather than statistical noise.
What is the median home price in 85383 Phoenix?
The median sale price in 85383 is $641K, down -1.7% year-over-year as of 2026-02-28.
How long do homes stay on the market in Phoenix 85383?
Homes in 85383 Phoenix spend an average of 90 days on market before going under contract.
Is Phoenix 85383 a good place to invest in real estate?
Folio's PropIQ™ score for 85383 is 55/100 — a Caution signal. 8% of homes sold above asking.
What does a PropIQ™ score of 55 mean for 85383?
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 85383 Phoenix, Arizona.