85390
Phoenix, Arizona

# Market Report: ZIP Code 85390

The 85390 market has recorded a median sale price of $470,000 as of February 2026, down 17.7% year-over-year—a correction that reflects significant cooling from previous peak valuations. Homes are averaging 99.5 days on market, more than triple the velocity seen during tighter conditions, while only 9% of properties sell above asking price. This data confirms a decisive shift from seller advantage to a market where inventory absorption has slowed considerably and pricing power has transferred.

These conditions favor cash-positioned buyers and patient negotiators who can leverage the 99.5-day average DOM to conduct thorough due diligence and extract concessions. The 9% above-list metric indicates that 91% of transactions close at or below asking, creating room for offer strategies below list price. Sellers facing urgency will struggle in this environment, while investors seeking rental yield rather than near-term appreciation may find the $470,000 entry point workable if underwriting accounts for the ongoing price decline.

The PropIQ score of 51 signals neutral-to-bearish momentum, suggesting stabilization has not yet occurred and further downside remains possible. Monitoring month-over-month DOM trends will indicate whether the 99.5-day average extends further, which would confirm continued buyer hesitancy. The 17.7% annual decline requires verification that quarterly depreciation is decelerating; without that confirmation, additional price discovery likely continues through mid-2026 before any meaningful support level emerges.