ZIP 85016 Housing Market Report
Phoenix Metro
Report period: May 2026
85016 Monthly Market Update – May 2026
ZIP 85016 · Last updated May 12, 2026 · Data range Dec 2025 – May 2026
Executive Snapshot
Median Sale Price
$589,000
+0.7%
Median DOM (Sales)
34
+3.0%
New Listings (Sales)
16
−78.4%
Median Rent
$1,590
+2.6%
Median DOM (Rental)
1
0.0%
Total Rental Listings
753
−3.6%
Month-over-Month Movement
Median sale prices moved higher. Days on market lengthened. Rents moved higher. Rental inventory tightened.
What's Moving Fastest
- Fastest selling: Single Family (31 DOM)
- Fastest renting: Apartment (1 DOM)
- Strongest bedroom: 7 Beds ($5,995,000 median)
Sales Market Overview
Median Price
$589,000
+0.7%
Median DOM
34
+3.0%
New Listings
16
−78.4%
Inventory
385
−4.0%
- Average Price: $908,431
- Median Price: $589,000
- Price Range: $115,000 – $9,500,000
- Price per Sq Ft (Avg/Median): $416 / $382
- Square Footage (Avg/Median): 1,901 / 1,622
- Square Footage Range: 576 – 13,366
- Days on Market (Avg/Median): 77 / 34
- Days on Market Range: 2 – 364
- New Listings: 16
- Total Listings: 385
Sales by Property Type
Condo
Avg/Median Price$657,575 / $354,000Range$115,000 – $4,895,000Price per Sq Ft$396 / $335Sq Ft1,338 / 1,089DOM97 / 81New4Total135
Land
Avg/Median Price$1,098,000 / $595,000Range$299,000 – $2,400,000Price per Sq Ft—Sq Ft—DOM182 / 207New0Total3
Multi-Family
Avg/Median Price$843,000 / $824,000Range$820,000 – $885,000Price per Sq Ft$406 / $402Sq Ft2,026 / 2,000DOM131 / 136New0Total3
Single Family
Avg/Median Price$1,303,056 / $875,999Range$299,000 – $9,500,000Price per Sq Ft$472 / $440Sq Ft2,537 / 2,070DOM62 / 31New9Total164
Townhouse
Avg/Median Price$518,115 / $495,000Range$194,800 – $1,395,000Price per Sq Ft$336 / $329Sq Ft1,545 / 1,564DOM70 / 34New3Total80
Sales by Bedroom Count
1 Beds
Avg:$264,140Median:$225,000Range:$115,000 – $524,995PSF:$326 / $290Sq Ft:788 / 768DOM:76 / 74New:1Total:40
2 Beds
Avg:$540,963Median:$429,000Range:$190,000 – $2,750,000PSF:$375 / $354Sq Ft:1,349 / 1,224DOM:92 / 80New:3Total:136
3 Beds
Avg:$1,007,629Median:$690,000Range:$312,900 – $4,690,000PSF:$449 / $385Sq Ft:2,059 / 1,924DOM:59 / 31New:9Total:138
4 Beds
Avg:$1,423,135Median:$980,000Range:$360,000 – $9,500,000PSF:$461 / $410Sq Ft:2,752 / 2,418DOM:84 / 71New:1Total:47
5 Beds
Avg:$1,972,272Median:$1,295,000Range:$665,000 – $5,950,000PSF:$515 / $466Sq Ft:3,547 / 3,271DOM:65 / 33New:2Total:16
6 Beds
Avg:$4,199,500Median:$3,899,000Range:$3,899,000 – $4,500,000PSF:$589 / $542Sq Ft:7,136 / 7,073DOM:71 / 32New:0Total:2
7 Beds
Avg:$6,385,000Median:$5,995,000Range:$5,995,000 – $6,775,000PSF:$777 / $449Sq Ft:9,746 / 6,125DOM:19 / 19New:0Total:2
8 Beds
Avg:$3,649,900Median:$3,649,900Range:$3,649,900 – $3,649,900PSF:$409 / $409Sq Ft:8,933 / 8,933DOM:322 / 322New:0Total:1
| Beds | Avg | Median | Range | Avg/Med PSF | Avg/Med Sq Ft | Avg/Med DOM | New | Total |
|---|---|---|---|---|---|---|---|---|
| 1 Beds | $264,140 | $225,000 | $115,000 – $524,995 | $326 / $290 | 788 / 768 | 76 / 74 | 1 | 40 |
| 2 Beds | $540,963 | $429,000 | $190,000 – $2,750,000 | $375 / $354 | 1,349 / 1,224 | 92 / 80 | 3 | 136 |
| 3 Beds | $1,007,629 | $690,000 | $312,900 – $4,690,000 | $449 / $385 | 2,059 / 1,924 | 59 / 31 | 9 | 138 |
| 4 Beds | $1,423,135 | $980,000 | $360,000 – $9,500,000 | $461 / $410 | 2,752 / 2,418 | 84 / 71 | 1 | 47 |
| 5 Beds | $1,972,272 | $1,295,000 | $665,000 – $5,950,000 | $515 / $466 | 3,547 / 3,271 | 65 / 33 | 2 | 16 |
| 6 Beds | $4,199,500 | $3,899,000 | $3,899,000 – $4,500,000 | $589 / $542 | 7,136 / 7,073 | 71 / 32 | 0 | 2 |
| 7 Beds | $6,385,000 | $5,995,000 | $5,995,000 – $6,775,000 | $777 / $449 | 9,746 / 6,125 | 19 / 19 | 0 | 2 |
| 8 Beds | $3,649,900 | $3,649,900 | $3,649,900 – $3,649,900 | $409 / $409 | 8,933 / 8,933 | 322 / 322 | 0 | 1 |
Rental Market Overview
Median Rent
$1,590
+2.6%
Median DOM
1
0.0%
New Listings
179
Inventory
753
−3.6%
- Average Rent: $1,897
- Median Rent: $1,590
- Rent Range: $719 – $10,000
- Rent per Sq Ft (Avg/Median): $2 / $2
- Square Footage (Avg/Median): 951 / 825
- Square Footage Range: 300 – 5,931
- Days on Market (Avg/Median): 29 / 1
- Days on Market Range: 1 – 365
- New Listings: 179
- Total Listings: 753
Rentals by Property Type
Apartment
$1,495
Median DOM: 1
Inventory: 639
MoM: +2.6%
Condo
$1,650
Median DOM: 16
Inventory: 13
MoM: +2.6%
Single Family
$2,900
Median DOM: 31
Inventory: 65
MoM: +2.6%
Townhouse
$2,649
Median DOM: 43
Inventory: 36
MoM: +2.6%
Apartment
Avg/Median Rent$1,696 / $1,495Range$719 – $9,000Rent per Sq Ft$2 / $2Sq Ft847 / 771DOM25 / 1New167Total639
Condo
Avg/Median Rent$1,691 / $1,650Range$895 – $2,875Rent per Sq Ft$2 / $2Sq Ft1,020 / 1,015DOM39 / 16New2Total13
Single Family
Avg/Median Rent$3,307 / $2,900Range$950 – $8,000Rent per Sq Ft$2 / $2Sq Ft1,744 / 1,619DOM50 / 31New10Total65
Townhouse
Avg/Median Rent$2,984 / $2,649Range$975 – $10,000Rent per Sq Ft$2 / $2Sq Ft1,380 / 1,462DOM69 / 43New0Total36
Rentals by Bedroom Count
Studio
Avg:$1,126Median:$1,174Range:$719 – $2,242PSF:$2 / $2Sq Ft:476 / 475DOM:23 / 1New:37Total:99
1 Beds
Avg:$1,437Median:$1,395Range:$756 – $3,700PSF:$2 / $2Sq Ft:728 / 714DOM:17 / 1New:74Total:292
2 Beds
Avg:$2,172Median:$1,895Range:$1,025 – $10,000PSF:$2 / $2Sq Ft:1,094 / 1,048DOM:37 / 1New:57Total:289
3 Beds
Avg:$3,290Median:$2,900Range:$1,675 – $8,000PSF:$2 / $2Sq Ft:1,691 / 1,732DOM:57 / 19New:9Total:54
4 Beds
Avg:$4,269Median:$3,700Range:$2,495 – $8,000PSF:$2 / $2Sq Ft:2,113 / 2,116DOM:52 / 30New:2Total:16
5 Beds
Avg:$7,950Median:$7,950Range:$7,950 – $7,950PSF:$2 / $2Sq Ft:4,303 / 4,303DOM:76 / 76New:0Total:1
6 Beds
Avg:$7,745Median:$7,495Range:$7,495 – $7,995PSF:$1 / $1Sq Ft:5,931 / 5,931DOM:91 / 77New:0Total:2
| Beds | Avg | Median | Range | Avg/Med PSF | Avg/Med Sq Ft | Avg/Med DOM | New | Total |
|---|---|---|---|---|---|---|---|---|
| Studio | $1,126 | $1,174 | $719 – $2,242 | $2 / $2 | 476 / 475 | 23 / 1 | 37 | 99 |
| 1 Beds | $1,437 | $1,395 | $756 – $3,700 | $2 / $2 | 728 / 714 | 17 / 1 | 74 | 292 |
| 2 Beds | $2,172 | $1,895 | $1,025 – $10,000 | $2 / $2 | 1,094 / 1,048 | 37 / 1 | 57 | 289 |
| 3 Beds | $3,290 | $2,900 | $1,675 – $8,000 | $2 / $2 | 1,691 / 1,732 | 57 / 19 | 9 | 54 |
| 4 Beds | $4,269 | $3,700 | $2,495 – $8,000 | $2 / $2 | 2,113 / 2,116 | 52 / 30 | 2 | 16 |
| 5 Beds | $7,950 | $7,950 | $7,950 – $7,950 | $2 / $2 | 4,303 / 4,303 | 76 / 76 | 0 | 1 |
| 6 Beds | $7,745 | $7,495 | $7,495 – $7,995 | $1 / $1 | 5,931 / 5,931 | 91 / 77 | 0 | 2 |
6-Month Sales Trend
Dec 2025
Median Price:$579,000Median DOM:54New:47Total:345
Jan 2026
Median Price:$595,000Median DOM:47New:91Total:362
Feb 2026
Median Price:$599,990Median DOM:31New:84Total:375
Mar 2026
Median Price:$599,900Median DOM:33New:91Total:412
Apr 2026
Median Price:$585,000Median DOM:33New:74Total:401
May 2026
Median Price:$589,000Median DOM:34New:16Total:385
6-Month Rental Trend
Dec 2025
Median Rent:$1,695Median DOM:57New:71Total:382
Jan 2026
Median Rent:$1,700Median DOM:55New:84Total:391
Feb 2026
Median Rent:$1,596Median DOM:1New:338Total:631
Mar 2026
Median Rent:$1,554Median DOM:1New:391Total:769
Apr 2026
Median Rent:$1,550Median DOM:1New:360Total:781
May 2026
Median Rent:$1,590Median DOM:1New:179Total:753
Key Market Takeaways
Median sale prices moved higher this month while inventory compressed. Days on market lengthened, signaling slower buyer activity. Rental pricing increased, while total rental inventory tightened.
Market data is only valuable if you act on it. With pricing stabilizing and days on market shifting, this is the type of environment where disciplined investors find their edge.
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