ZIP 85023 Housing Market Report
Phoenix Metro
Report period: May 2026
85023 Monthly Market Update – May 2026
ZIP 85023 · Last updated May 12, 2026 · Data range Dec 2025 – May 2026
Executive Snapshot
Median Sale Price
$415,000
0.0%
Median DOM (Sales)
30
0.0%
New Listings (Sales)
19
−58.7%
Median Rent
$1,357
+0.6%
Median DOM (Rental)
1
0.0%
Total Rental Listings
410
−0.5%
Month-over-Month Movement
Median sale prices were flat. Rents moved higher. Rental inventory tightened.
What's Moving Fastest
- Fastest selling: Single Family (27 DOM)
- Fastest renting: Apartment (1 DOM)
- Strongest bedroom: 6 Beds ($1,883,000 median)
Sales Market Overview
Median Price
$415,000
0.0%
Median DOM
30
0.0%
New Listings
19
−58.7%
Inventory
171
+1.2%
- Average Price: $437,504
- Median Price: $415,000
- Price Range: $10,000 – $1,900,000
- Price per Sq Ft (Avg/Median): $243 / $265
- Square Footage (Avg/Median): 1,696 / 1,539
- Square Footage Range: 494 – 7,235
- Days on Market (Avg/Median): 54 / 30
- Days on Market Range: 2 – 259
- New Listings: 19
- Total Listings: 171
Sales by Property Type
Condo
Avg/Median Price$197,989 / $200,000Range$149,900 – $245,000Price per Sq Ft$247 / $248Sq Ft824 / 914DOM110 / 96New1Total9
Land
Avg/Median Price$699,000 / $499,000Range$499,000 – $899,000Price per Sq Ft—Sq Ft—DOM144 / 74New0Total2
Manufactured
Avg/Median Price$56,404 / $44,500Range$10,000 – $249,000Price per Sq Ft$54 / $39Sq Ft1,092 / 1,056DOM68 / 32New1Total24
Single Family
Avg/Median Price$542,072 / $449,000Range$225,000 – $1,900,000Price per Sq Ft$280 / $274Sq Ft1,929 / 1,710DOM47 / 27New15Total121
Townhouse
Avg/Median Price$312,593 / $279,699Range$160,000 – $815,000Price per Sq Ft$237 / $223Sq Ft1,299 / 1,144DOM45 / 29New2Total15
Sales by Bedroom Count
1 Beds
Avg:$123,166Median:$160,000Range:$10,000 – $200,000PSF:$198 / $238Sq Ft:664 / 592DOM:65 / 26New:1Total:6
2 Beds
Avg:$175,605Median:$175,000Range:$15,000 – $449,000PSF:$156 / $191Sq Ft:1,116 / 1,056DOM:64 / 31New:3Total:38
3 Beds
Avg:$442,959Median:$419,900Range:$45,000 – $1,340,000PSF:$267 / $271Sq Ft:1,643 / 1,602DOM:56 / 30New:11Total:77
4 Beds
Avg:$599,072Median:$534,900Range:$254,900 – $1,275,000PSF:$277 / $272Sq Ft:2,160 / 2,048DOM:37 / 30New:3Total:40
5 Beds
Avg:$924,917Median:$439,800Range:$359,900 – $1,900,000PSF:$273 / $256Sq Ft:3,337 / 1,828DOM:45 / 28New:0Total:6
6 Beds
Avg:$1,883,000Median:$1,883,000Range:$1,883,000 – $1,883,000PSF:$384 / $384Sq Ft:4,900 / 4,900DOM:4 / 4New:1Total:1
7 Beds
Avg:$499,900Median:$499,900Range:$499,900 – $499,900PSF:$210 / $210Sq Ft:2,378 / 2,378DOM:26 / 26New:0Total:1
| Beds | Avg | Median | Range | Avg/Med PSF | Avg/Med Sq Ft | Avg/Med DOM | New | Total |
|---|---|---|---|---|---|---|---|---|
| 1 Beds | $123,166 | $160,000 | $10,000 – $200,000 | $198 / $238 | 664 / 592 | 65 / 26 | 1 | 6 |
| 2 Beds | $175,605 | $175,000 | $15,000 – $449,000 | $156 / $191 | 1,116 / 1,056 | 64 / 31 | 3 | 38 |
| 3 Beds | $442,959 | $419,900 | $45,000 – $1,340,000 | $267 / $271 | 1,643 / 1,602 | 56 / 30 | 11 | 77 |
| 4 Beds | $599,072 | $534,900 | $254,900 – $1,275,000 | $277 / $272 | 2,160 / 2,048 | 37 / 30 | 3 | 40 |
| 5 Beds | $924,917 | $439,800 | $359,900 – $1,900,000 | $273 / $256 | 3,337 / 1,828 | 45 / 28 | 0 | 6 |
| 6 Beds | $1,883,000 | $1,883,000 | $1,883,000 – $1,883,000 | $384 / $384 | 4,900 / 4,900 | 4 / 4 | 1 | 1 |
| 7 Beds | $499,900 | $499,900 | $499,900 – $499,900 | $210 / $210 | 2,378 / 2,378 | 26 / 26 | 0 | 1 |
Rental Market Overview
Median Rent
$1,357
+0.6%
Median DOM
1
0.0%
New Listings
125
Inventory
410
−0.5%
- Average Rent: $1,538
- Median Rent: $1,357
- Rent Range: $785 – $10,000
- Rent per Sq Ft (Avg/Median): $2 / $2
- Square Footage (Avg/Median): 997 / 864
- Square Footage Range: 250 – 3,109
- Days on Market (Avg/Median): 17 / 1
- Days on Market Range: 1 – 364
- New Listings: 125
- Total Listings: 410
Rentals by Property Type
Apartment
$1,269
Median DOM: 1
Inventory: 332
MoM: +0.6%
Condo
$1,300
Median DOM: 29
Inventory: 2
MoM: +0.6%
Single Family
$2,400
Median DOM: 20
Inventory: 62
MoM: +0.6%
Townhouse
$1,930
Median DOM: 38
Inventory: 11
MoM: +0.6%
Apartment
Avg/Median Rent$1,339 / $1,269Range$817 – $3,712Rent per Sq Ft$2 / $2Sq Ft845 / 815DOM10 / 1New113Total332
Condo
Avg/Median Rent$1,375 / $1,300Range$1,300 – $1,450Rent per Sq Ft$2 / $2Sq Ft686 / 672DOM29 / 29New0Total2
Manufactured
Avg/Median Rent$1,450 / $1,350Range$1,350 – $1,650Rent per Sq Ft$1 / $1Sq Ft1,011 / 1,000DOM111 / 34New0Total3
Single Family
Avg/Median Rent$2,545 / $2,400Range$785 – $10,000Rent per Sq Ft$2 / $1Sq Ft1,756 / 1,710DOM38 / 20New10Total62
Townhouse
Avg/Median Rent$1,920 / $1,930Range$1,500 – $2,450Rent per Sq Ft$1 / $1Sq Ft1,391 / 1,310DOM83 / 38New2Total11
Rentals by Bedroom Count
Studio
Avg:$911Median:$905Range:$817 – $978PSF:$2 / $2Sq Ft:496 / 500DOM:7 / 1New:3Total:11
1 Beds
Avg:$1,176Median:$1,159Range:$785 – $2,095PSF:$2 / $2Sq Ft:717 / 715DOM:18 / 1New:49Total:142
2 Beds
Avg:$1,445Median:$1,411Range:$905 – $3,712PSF:$2 / $2Sq Ft:945 / 943DOM:9 / 1New:57Total:173
3 Beds
Avg:$2,141Median:$2,090Range:$1,495 – $3,200PSF:$1 / $1Sq Ft:1,496 / 1,441DOM:25 / 10New:14Total:67
4 Beds
Avg:$3,672Median:$2,505Range:$1,800 – $10,000PSF:$2 / $1Sq Ft:2,198 / 2,032DOM:53 / 23New:2Total:14
5 Beds
Avg:$2,882Median:$2,995Range:$2,650 – $3,000PSF:$1 / $1Sq Ft:2,220 / 2,032DOM:12 / 8New:0Total:3
| Beds | Avg | Median | Range | Avg/Med PSF | Avg/Med Sq Ft | Avg/Med DOM | New | Total |
|---|---|---|---|---|---|---|---|---|
| Studio | $911 | $905 | $817 – $978 | $2 / $2 | 496 / 500 | 7 / 1 | 3 | 11 |
| 1 Beds | $1,176 | $1,159 | $785 – $2,095 | $2 / $2 | 717 / 715 | 18 / 1 | 49 | 142 |
| 2 Beds | $1,445 | $1,411 | $905 – $3,712 | $2 / $2 | 945 / 943 | 9 / 1 | 57 | 173 |
| 3 Beds | $2,141 | $2,090 | $1,495 – $3,200 | $1 / $1 | 1,496 / 1,441 | 25 / 10 | 14 | 67 |
| 4 Beds | $3,672 | $2,505 | $1,800 – $10,000 | $2 / $1 | 2,198 / 2,032 | 53 / 23 | 2 | 14 |
| 5 Beds | $2,882 | $2,995 | $2,650 – $3,000 | $1 / $1 | 2,220 / 2,032 | 12 / 8 | 0 | 3 |
6-Month Sales Trend
Dec 2025
Median Price:$395,000Median DOM:54New:23Total:147
Jan 2026
Median Price:$409,900Median DOM:44New:38Total:147
Feb 2026
Median Price:$410,000Median DOM:29New:38Total:144
Mar 2026
Median Price:$425,000Median DOM:29New:45Total:163
Apr 2026
Median Price:$415,000Median DOM:30New:46Total:169
May 2026
Median Price:$415,000Median DOM:30New:19Total:171
6-Month Rental Trend
Dec 2025
Median Rent:$1,790Median DOM:51New:27Total:118
Jan 2026
Median Rent:$1,700Median DOM:27New:39Total:128
Feb 2026
Median Rent:$1,325Median DOM:1New:180Total:276
Mar 2026
Median Rent:$1,339Median DOM:1New:236Total:374
Apr 2026
Median Rent:$1,349Median DOM:1New:223Total:412
May 2026
Median Rent:$1,357Median DOM:1New:125Total:410
Key Market Takeaways
Median sale prices held steady 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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