85396
Phoenix, Arizona

# Market Report: ZIP Code 85396, Phoenix AZ

The median sale price in 85396 has declined 7.2% year-over-year to $466,495, signaling a correction from previous peak valuations. Homes are taking 83.5 days to sell, well above the typical 30-45 day range seen in balanced Phoenix-area markets. Only 18% of properties are closing above asking price, down from the 40-50% rates observed during the 2021-2022 seller's market, indicating reduced competition among buyers and weakened pricing power for sellers.

This environment favors patient buyers with financing secured who can negotiate on price and terms without facing multiple-offer scenarios. The 83.5-day absorption rate gives purchasers leverage to request concessions or conduct thorough due diligence without pressure. Sellers face headwinds and should price competitively from listing day, as the 18% above-ask rate means 82% of transactions close at or below asking price. Investors seeking cash flow over appreciation may find entry points, though the 7.2% decline demands conservative underwriting.

The PropIQ score of 60 signals caution, suggesting further price erosion or extended selling times remain possible through mid-2026. Watch monthly inventory levels and average DOM trends; if days-on-market exceeds 90 or listings accumulate faster than sales, additional price pressure will follow. The score indicates this market hasn't stabilized—neither falling fast enough to attract deep-value buyers nor recovering sufficiently to restore seller confidence.