ZIP 85016 Housing Market Report
Phoenix Metro
Report period: August 2026
85016 Monthly Market Update – August 2026
ZIP 85016 · Last updated Aug 10, 2026 · Data range Mar 2026 – Aug 2026
Executive Snapshot
Median Sale Price
$520,000
+1.0%
Median DOM (Sales)
80
0.0%
New Listings (Sales)
19
−62.0%
Median Rent
$1,685
+2.1%
Median DOM (Rental)
22
+100.0%
Total Rental Listings
488
−10.3%
Month-over-Month Movement
Median sale prices moved higher. Rents moved higher. Rental inventory tightened.
What's Moving Fastest
- Fastest selling: Land (43 DOM)
- Fastest renting: Condo (10 DOM)
- Strongest bedroom: 7 Beds ($5,995,000 median)
Sales Market Overview
Median Price
$520,000
+1.0%
Median DOM
80
0.0%
New Listings
19
−62.0%
Inventory
336
+1.2%
- Average Price: $830,748
- Median Price: $520,000
- Price Range: $139,900 – $9,375,000
- Price per Sq Ft (Avg/Median): $397 / $355
- Square Footage (Avg/Median): 1,809 / 1,502
- Square Footage Range: 576 – 13,366
- Days on Market (Avg/Median): 88 / 80
- Days on Market Range: 2 – 354
- New Listings: 19
- Total Listings: 336
Sales by Property Type
Condo
Avg/Median Price$547,969 / $345,000Range$139,900 – $3,950,000Price per Sq Ft$373 / $321Sq Ft1,237 / 1,076DOM106 / 95New7Total122
Land
Avg/Median Price$1,218,750 / $595,000Range$350,000 – $2,280,000Price per Sq Ft—Sq Ft—DOM119 / 43New0Total4
Multi-Family
Avg/Median Price$799,900 / $799,900Range$799,900 – $799,900Price per Sq Ft$400 / $400Sq Ft2,000 / 2,000DOM175 / 175New0Total1
Single Family
Avg/Median Price$1,304,672 / $759,000Range$299,900 – $9,375,000Price per Sq Ft$458 / $402Sq Ft2,564 / 2,068DOM74 / 44New8Total125
Townhouse
Avg/Median Price$518,100 / $485,000Range$174,999 – $1,339,000Price per Sq Ft$340 / $334Sq Ft1,514 / 1,490DOM82 / 76New4Total84
Sales by Bedroom Count
1 Beds
Avg:$268,966Median:$249,900Range:$139,900 – $479,500PSF:$330 / $321Sq Ft:801 / 847DOM:93 / 75New:0Total:41
2 Beds
Avg:$498,753Median:$394,500Range:$174,900 – $2,100,000PSF:$360 / $335Sq Ft:1,316 / 1,185DOM:95 / 81New:9Total:122
3 Beds
Avg:$947,737Median:$629,000Range:$312,900 – $3,950,000PSF:$433 / $377Sq Ft:1,990 / 1,834DOM:81 / 74New:7Total:117
4 Beds
Avg:$1,154,525Median:$799,900Range:$414,000 – $9,375,000PSF:$411 / $361Sq Ft:2,448 / 2,195DOM:80 / 80New:2Total:33
5 Beds
Avg:$2,188,323Median:$1,625,000Range:$729,000 – $5,485,000PSF:$527 / $436Sq Ft:3,644 / 3,271DOM:68 / 32New:1Total:14
6 Beds
Avg:$4,500,000Median:$4,500,000Range:$4,500,000 – $4,500,000PSF:$636 / $636Sq Ft:7,073 / 7,073DOM:199 / 199New:0Total:1
7 Beds
Avg:$4,886,667Median:$5,995,000Range:$2,175,000 – $6,490,000PSF:$603 / $449Sq Ft:8,897 / 7,199DOM:119 / 84New:0Total:3
8 Beds
Avg:$3,599,900Median:$3,599,900Range:$3,599,900 – $3,599,900PSF:$403 / $403Sq Ft:8,933 / 8,933DOM:—New:0Total:1
| Beds | Avg | Median | Range | Avg/Med PSF | Avg/Med Sq Ft | Avg/Med DOM | New | Total |
|---|---|---|---|---|---|---|---|---|
| 1 Beds | $268,966 | $249,900 | $139,900 – $479,500 | $330 / $321 | 801 / 847 | 93 / 75 | 0 | 41 |
| 2 Beds | $498,753 | $394,500 | $174,900 – $2,100,000 | $360 / $335 | 1,316 / 1,185 | 95 / 81 | 9 | 122 |
| 3 Beds | $947,737 | $629,000 | $312,900 – $3,950,000 | $433 / $377 | 1,990 / 1,834 | 81 / 74 | 7 | 117 |
| 4 Beds | $1,154,525 | $799,900 | $414,000 – $9,375,000 | $411 / $361 | 2,448 / 2,195 | 80 / 80 | 2 | 33 |
| 5 Beds | $2,188,323 | $1,625,000 | $729,000 – $5,485,000 | $527 / $436 | 3,644 / 3,271 | 68 / 32 | 1 | 14 |
| 6 Beds | $4,500,000 | $4,500,000 | $4,500,000 – $4,500,000 | $636 / $636 | 7,073 / 7,073 | 199 / 199 | 0 | 1 |
| 7 Beds | $4,886,667 | $5,995,000 | $2,175,000 – $6,490,000 | $603 / $449 | 8,897 / 7,199 | 119 / 84 | 0 | 3 |
| 8 Beds | $3,599,900 | $3,599,900 | $3,599,900 – $3,599,900 | $403 / $403 | 8,933 / 8,933 | — | 0 | 1 |
Rental Market Overview
Median Rent
$1,685
+2.1%
Median DOM
22
+100.0%
New Listings
71
Inventory
488
−10.3%
- Average Rent: $2,085
- Median Rent: $1,685
- Rent Range: $729 – $10,000
- Rent per Sq Ft (Avg/Median): $2 / $2
- Square Footage (Avg/Median): 1,039 / 871
- Square Footage Range: 250 – 3,014
- Days on Market (Avg/Median): 49 / 22
- Days on Market Range: 1 – 337
- New Listings: 71
- Total Listings: 488
Rentals by Property Type
Apartment
$1,555
Median DOM: 12
Inventory: 372
MoM: +2.1%
Condo
$1,799
Median DOM: 10
Inventory: 10
MoM: +2.1%
Single Family
$2,995
Median DOM: 30
Inventory: 59
MoM: +2.1%
Townhouse
$2,970
Median DOM: 35
Inventory: 47
MoM: +2.1%
Apartment
Avg/Median Rent$1,750 / $1,555Range$729 – $7,000Rent per Sq Ft$2 / $2Sq Ft871 / 790DOM48 / 12New56Total372
Condo
Avg/Median Rent$1,658 / $1,799Range$1,000 – $2,050Rent per Sq Ft$2 / $2Sq Ft1,076 / 1,135DOM46 / 10New2Total10
Single Family
Avg/Median Rent$3,343 / $2,995Range$899 – $7,995Rent per Sq Ft$2 / $2Sq Ft1,691 / 1,619DOM60 / 30New8Total59
Townhouse
Avg/Median Rent$3,249 / $2,970Range$950 – $10,000Rent per Sq Ft$2 / $2Sq Ft1,553 / 1,628DOM47 / 35New5Total47
Rentals by Bedroom Count
Studio
Avg:$1,125Median:$915Range:$729 – $2,950PSF:$2 / $2Sq Ft:458 / 450DOM:46 / 1New:8Total:47
1 Beds
Avg:$1,475Median:$1,430Range:$799 – $3,700PSF:$2 / $2Sq Ft:723 / 715DOM:42 / 1New:24Total:167
2 Beds
Avg:$2,242Median:$1,823Range:$1,000 – $10,000PSF:$2 / $2Sq Ft:1,100 / 1,028DOM:53 / 29New:27Total:189
3 Beds
Avg:$3,298Median:$2,950Range:$1,675 – $7,995PSF:$2 / $2Sq Ft:1,762 / 1,750DOM:58 / 31New:10Total:68
4 Beds
Avg:$3,972Median:$3,695Range:$2,595 – $6,000PSF:$2 / $2Sq Ft:2,149 / 2,211DOM:67 / 36New:2Total:15
5 Beds
Avg:$5,450Median:$3,899Range:$3,899 – $7,000PSF:$2 / $2Sq Ft:2,458 / 1,903DOM:21 / 21New:0Total:2
| Beds | Avg | Median | Range | Avg/Med PSF | Avg/Med Sq Ft | Avg/Med DOM | New | Total |
|---|---|---|---|---|---|---|---|---|
| Studio | $1,125 | $915 | $729 – $2,950 | $2 / $2 | 458 / 450 | 46 / 1 | 8 | 47 |
| 1 Beds | $1,475 | $1,430 | $799 – $3,700 | $2 / $2 | 723 / 715 | 42 / 1 | 24 | 167 |
| 2 Beds | $2,242 | $1,823 | $1,000 – $10,000 | $2 / $2 | 1,100 / 1,028 | 53 / 29 | 27 | 189 |
| 3 Beds | $3,298 | $2,950 | $1,675 – $7,995 | $2 / $2 | 1,762 / 1,750 | 58 / 31 | 10 | 68 |
| 4 Beds | $3,972 | $3,695 | $2,595 – $6,000 | $2 / $2 | 2,149 / 2,211 | 67 / 36 | 2 | 15 |
| 5 Beds | $5,450 | $3,899 | $3,899 – $7,000 | $2 / $2 | 2,458 / 1,903 | 21 / 21 | 0 | 2 |
6-Month Sales Trend
Mar 2026
Median Price:$599,900Median DOM:33New:91Total:412
Apr 2026
Median Price:$585,000Median DOM:33New:74Total:401
May 2026
Median Price:$575,000Median DOM:37New:56Total:365
Jun 2026
Median Price:$545,000Median DOM:74New:61Total:340
Jul 2026
Median Price:$515,000Median DOM:80New:50Total:332
Aug 2026
Median Price:$520,000Median DOM:80New:19Total:336
6-Month Rental Trend
Mar 2026
Median Rent:$1,554Median DOM:1New:391Total:769
Apr 2026
Median Rent:$1,550Median DOM:1New:360Total:781
May 2026
Median Rent:$1,620Median DOM:1New:323Total:732
Jun 2026
Median Rent:$1,650Median DOM:1New:234Total:664
Jul 2026
Median Rent:$1,650Median DOM:11New:148Total:544
Aug 2026
Median Rent:$1,685Median DOM:22New:71Total:488
Key Market Takeaways
Median sale prices moved higher this month while inventory expanded. Days on market were unchanged, signaling steady 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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