ZIP 85023 Housing Market Report
Phoenix Metro
Report period: August 2026
85023 Monthly Market Update – August 2026
ZIP 85023 · Last updated Aug 10, 2026 · Data range Mar 2026 – Aug 2026
Executive Snapshot
Median Sale Price
$419,000
+1.5%
Median DOM (Sales)
42
+2.4%
New Listings (Sales)
4
−86.7%
Median Rent
$1,349
+0.1%
Median DOM (Rental)
1
0.0%
Total Rental Listings
267
−10.4%
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: Townhouse (23 DOM)
- Fastest renting: Apartment (1 DOM)
- Strongest bedroom: 7 Beds ($2,100,000 median)
Sales Market Overview
Median Price
$419,000
+1.5%
Median DOM
42
+2.4%
New Listings
4
−86.7%
Inventory
144
−4.6%
- Average Price: $488,052
- Median Price: $419,000
- Price Range: $8,000 – $3,995,000
- Price per Sq Ft (Avg/Median): $244 / $260
- Square Footage (Avg/Median): 1,833 / 1,594
- Square Footage Range: 444 – 9,241
- Days on Market (Avg/Median): 69 / 42
- Days on Market Range: 3 – 342
- New Listings: 4
- Total Listings: 144
Sales by Property Type
Condo
Avg/Median Price$206,400 / $210,000Range$172,000 – $235,000Price per Sq Ft$246 / $232Sq Ft866 / 927DOM126 / 185New0Total5
Land
Avg/Median Price$699,000 / $499,000Range$499,000 – $899,000Price per Sq Ft—Sq Ft—DOM234 / 164New0Total2
Manufactured
Avg/Median Price$64,430 / $29,000Range$8,000 – $395,000Price per Sq Ft$51 / $38Sq Ft1,103 / 1,056DOM86 / 77New0Total20
Single Family
Avg/Median Price$598,805 / $465,000Range$237,750 – $3,995,000Price per Sq Ft$281 / $278Sq Ft2,090 / 1,781DOM63 / 42New4Total101
Townhouse
Avg/Median Price$380,099 / $305,000Range$149,900 – $825,000Price per Sq Ft$255 / $230Sq Ft1,430 / 1,342DOM50 / 23New0Total16
Sales by Bedroom Count
1 Beds
Avg:$79,950Median:$29,000Range:$8,000 – $200,000PSF:$126 / $42Sq Ft:612 / 579DOM:92 / 89New:0Total:6
2 Beds
Avg:$197,895Median:$204,990Range:$13,000 – $440,000PSF:$179 / $227Sq Ft:1,103 / 1,056DOM:67 / 38New:0Total:24
3 Beds
Avg:$435,071Median:$409,000Range:$12,500 – $1,695,000PSF:$255 / $272Sq Ft:1,669 / 1,584DOM:64 / 40New:3Total:72
4 Beds
Avg:$639,779Median:$565,000Range:$300,000 – $1,165,000PSF:$277 / $272Sq Ft:2,289 / 2,111DOM:74 / 44New:1Total:33
5 Beds
Avg:$1,094,875Median:$1,125,000Range:$414,500 – $1,690,000PSF:$286 / $250Sq Ft:3,963 / 3,081DOM:48 / 25New:0Total:4
6 Beds
Avg:$2,367,500Median:$739,999Range:$739,999 – $3,995,000PSF:$346 / $259Sq Ft:6,047 / 2,853DOM:55 / 38New:0Total:2
7 Beds
Avg:$2,100,000Median:$2,100,000Range:$2,100,000 – $2,100,000PSF:$325 / $325Sq Ft:6,465 / 6,465DOM:26 / 26New:0Total:1
| Beds | Avg | Median | Range | Avg/Med PSF | Avg/Med Sq Ft | Avg/Med DOM | New | Total |
|---|---|---|---|---|---|---|---|---|
| 1 Beds | $79,950 | $29,000 | $8,000 – $200,000 | $126 / $42 | 612 / 579 | 92 / 89 | 0 | 6 |
| 2 Beds | $197,895 | $204,990 | $13,000 – $440,000 | $179 / $227 | 1,103 / 1,056 | 67 / 38 | 0 | 24 |
| 3 Beds | $435,071 | $409,000 | $12,500 – $1,695,000 | $255 / $272 | 1,669 / 1,584 | 64 / 40 | 3 | 72 |
| 4 Beds | $639,779 | $565,000 | $300,000 – $1,165,000 | $277 / $272 | 2,289 / 2,111 | 74 / 44 | 1 | 33 |
| 5 Beds | $1,094,875 | $1,125,000 | $414,500 – $1,690,000 | $286 / $250 | 3,963 / 3,081 | 48 / 25 | 0 | 4 |
| 6 Beds | $2,367,500 | $739,999 | $739,999 – $3,995,000 | $346 / $259 | 6,047 / 2,853 | 55 / 38 | 0 | 2 |
| 7 Beds | $2,100,000 | $2,100,000 | $2,100,000 – $2,100,000 | $325 / $325 | 6,465 / 6,465 | 26 / 26 | 0 | 1 |
Rental Market Overview
Median Rent
$1,349
+0.1%
Median DOM
1
0.0%
New Listings
88
Inventory
267
−10.4%
- Average Rent: $1,606
- Median Rent: $1,349
- Rent Range: $749 – $10,000
- Rent per Sq Ft (Avg/Median): $2 / $2
- Square Footage (Avg/Median): 1,064 / 864
- Square Footage Range: 250 – 3,312
- Days on Market (Avg/Median): 21 / 1
- Days on Market Range: 1 – 362
- New Listings: 88
- Total Listings: 267
Rentals by Property Type
Apartment
$1,220
Median DOM: 1
Inventory: 188
MoM: +0.1%
Condo
$1,350
Median DOM: —
Inventory: 1
MoM: +0.1%
Single Family
$2,299
Median DOM: 26
Inventory: 66
MoM: +0.1%
Townhouse
$1,895
Median DOM: 31
Inventory: 9
MoM: +0.1%
Apartment
Avg/Median Rent$1,278 / $1,220Range$749 – $3,709Rent per Sq Ft$2 / $2Sq Ft814 / 815DOM11 / 1New79Total188
Condo
Avg/Median Rent$1,350 / $1,350Range$1,350 – $1,350Rent per Sq Ft$2 / $2Sq Ft700 / 700DOM—New0Total1
Manufactured
Avg/Median Rent$1,343 / $1,350Range$1,330 – $1,350Rent per Sq Ft$2 / $1Sq Ft901 / 910DOM159 / 78New0Total3
Single Family
Avg/Median Rent$2,536 / $2,299Range$1,100 – $10,000Rent per Sq Ft$1 / $1Sq Ft1,773 / 1,710DOM41 / 26New8Total66
Townhouse
Avg/Median Rent$1,741 / $1,895Range$1,450 – $1,950Rent per Sq Ft$2 / $2Sq Ft1,156 / 1,194DOM39 / 31New1Total9
Rentals by Bedroom Count
Studio
Avg:$945Median:$914Range:$834 – $1,036PSF:$2 / $2Sq Ft:497 / 500DOM:13 / 1New:4Total:14
1 Beds
Avg:$1,140Median:$1,139Range:$749 – $1,847PSF:$2 / $2Sq Ft:703 / 715DOM:13 / 1New:32Total:85
2 Beds
Avg:$1,420Median:$1,350Range:$925 – $3,709PSF:$1 / $1Sq Ft:945 / 943DOM:18 / 1New:41Total:95
3 Beds
Avg:$2,188Median:$2,145Range:$1,450 – $3,200PSF:$1 / $1Sq Ft:1,621 / 1,615DOM:30 / 23New:6Total:53
4 Beds
Avg:$3,443Median:$2,550Range:$1,865 – $10,000PSF:$2 / $1Sq Ft:2,090 / 2,100DOM:56 / 11New:5Total:19
5 Beds
Avg:$2,299Median:$2,299Range:$2,299 – $2,299PSF:$1 / $1Sq Ft:1,852 / 1,852DOM:40 / 40New:0Total:1
| Beds | Avg | Median | Range | Avg/Med PSF | Avg/Med Sq Ft | Avg/Med DOM | New | Total |
|---|---|---|---|---|---|---|---|---|
| Studio | $945 | $914 | $834 – $1,036 | $2 / $2 | 497 / 500 | 13 / 1 | 4 | 14 |
| 1 Beds | $1,140 | $1,139 | $749 – $1,847 | $2 / $2 | 703 / 715 | 13 / 1 | 32 | 85 |
| 2 Beds | $1,420 | $1,350 | $925 – $3,709 | $1 / $1 | 945 / 943 | 18 / 1 | 41 | 95 |
| 3 Beds | $2,188 | $2,145 | $1,450 – $3,200 | $1 / $1 | 1,621 / 1,615 | 30 / 23 | 6 | 53 |
| 4 Beds | $3,443 | $2,550 | $1,865 – $10,000 | $2 / $1 | 2,090 / 2,100 | 56 / 11 | 5 | 19 |
| 5 Beds | $2,299 | $2,299 | $2,299 – $2,299 | $1 / $1 | 1,852 / 1,852 | 40 / 40 | 0 | 1 |
6-Month Sales Trend
Mar 2026
Median Price:$425,000Median DOM:29New:45Total:163
Apr 2026
Median Price:$415,000Median DOM:30New:46Total:169
May 2026
Median Price:$410,000Median DOM:32New:39Total:163
Jun 2026
Median Price:$414,500Median DOM:35New:38Total:164
Jul 2026
Median Price:$413,000Median DOM:41New:30Total:151
Aug 2026
Median Price:$419,000Median DOM:42New:4Total:144
6-Month Rental Trend
Mar 2026
Median Rent:$1,339Median DOM:1New:236Total:374
Apr 2026
Median Rent:$1,349Median DOM:1New:223Total:412
May 2026
Median Rent:$1,399Median DOM:1New:225Total:396
Jun 2026
Median Rent:$1,362Median DOM:1New:164Total:362
Jul 2026
Median Rent:$1,348Median DOM:1New:116Total:298
Aug 2026
Median Rent:$1,349Median DOM:1New:88Total:267
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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