ZIP 85040 Housing Market Report
Phoenix Metro
Report period: August 2026
85040 Monthly Market Update – August 2026
ZIP 85040 · Last updated Aug 11, 2026 · Data range Mar 2026 – Aug 2026
Executive Snapshot
Median Sale Price
$375,000
−1.3%
Median DOM (Sales)
37
0.0%
New Listings (Sales)
22
−57.7%
Median Rent
$1,712
+0.7%
Median DOM (Rental)
21
+10.5%
Total Rental Listings
141
−8.4%
Month-over-Month Movement
Median sale prices eased compared to last month. Rents moved higher. Rental inventory tightened.
What's Moving Fastest
- Fastest selling: Townhouse (10 DOM)
- Fastest renting: Apartment (1 DOM)
- Strongest bedroom: 7 Beds ($749,990 median)
Sales Market Overview
Median Price
$375,000
−1.3%
Median DOM
37
0.0%
New Listings
22
−57.7%
Inventory
152
+2.7%
- Average Price: $390,481
- Median Price: $375,000
- Price Range: $25,000 – $1,675,000
- Price per Sq Ft (Avg/Median): $244 / $247
- Square Footage (Avg/Median): 1,476 / 1,463
- Square Footage Range: 736 – 4,669
- Days on Market (Avg/Median): 63 / 37
- Days on Market Range: 2 – 364
- New Listings: 22
- Total Listings: 152
Sales by Property Type
Condo
Avg/Median Price$245,000 / $245,000Range$245,000 – $245,000Price per Sq Ft$200 / $200Sq Ft1,224 / 1,224DOM31 / 31New0Total1
Land
Avg/Median Price$494,358 / $380,000Range$125,000 – $1,675,000Price per Sq Ft—Sq Ft—DOM94 / 44New0Total19
Manufactured
Avg/Median Price$91,667 / $45,000Range$25,000 – $205,000Price per Sq Ft$72 / $44Sq Ft1,081 / 1,024DOM116 / 105New0Total3
Multi-Family
Avg/Median Price$584,914 / $549,900Range$412,000 – $749,900Price per Sq Ft$211 / $180Sq Ft3,075 / 3,060DOM83 / 43New0Total14
Single Family
Avg/Median Price$384,291 / $375,000Range$220,000 – $950,000Price per Sq Ft$259 / $257Sq Ft1,547 / 1,470DOM60 / 34New5Total66
Townhouse
Avg/Median Price$324,252 / $335,000Range$134,900 – $485,990Price per Sq Ft$236 / $246Sq Ft1,345 / 1,314DOM48 / 10New17Total49
Sales by Bedroom Count
1 Beds
Avg:$245,000Median:$245,000Range:$245,000 – $245,000PSF:$200 / $200Sq Ft:1,224 / 1,224DOM:31 / 31New:0Total:1
2 Beds
Avg:$234,048Median:$250,000Range:$25,000 – $339,500PSF:$232 / $246Sq Ft:1,005 / 944DOM:77 / 70New:4Total:28
3 Beds
Avg:$380,299Median:$384,500Range:$134,900 – $950,000PSF:$253 / $254Sq Ft:1,506 / 1,582DOM:52 / 18New:17Total:65
4 Beds
Avg:$393,040Median:$399,000Range:$285,000 – $485,000PSF:$248 / $244Sq Ft:1,636 / 1,580DOM:49 / 27New:1Total:20
5 Beds
Avg:$463,611Median:$489,900Range:$349,000 – $499,900PSF:$202 / $203Sq Ft:2,178 / 2,116DOM:59 / 42New:0Total:9
6 Beds
Avg:$616,860Median:$719,900Range:$412,000 – $749,900PSF:$243 / $243Sq Ft:3,090 / 3,090DOM:80 / 43New:0Total:5
7 Beds
Avg:$749,990Median:$749,990Range:$749,990 – $749,990PSF:$161 / $161Sq Ft:4,669 / 4,669DOM:43 / 43New:0Total:1
8 Beds
Avg:$643,748Median:$625,000Range:$600,000 – $700,000PSF:—Sq Ft:—DOM:104 / 92New:0Total:4
| Beds | Avg | Median | Range | Avg/Med PSF | Avg/Med Sq Ft | Avg/Med DOM | New | Total |
|---|---|---|---|---|---|---|---|---|
| 1 Beds | $245,000 | $245,000 | $245,000 – $245,000 | $200 / $200 | 1,224 / 1,224 | 31 / 31 | 0 | 1 |
| 2 Beds | $234,048 | $250,000 | $25,000 – $339,500 | $232 / $246 | 1,005 / 944 | 77 / 70 | 4 | 28 |
| 3 Beds | $380,299 | $384,500 | $134,900 – $950,000 | $253 / $254 | 1,506 / 1,582 | 52 / 18 | 17 | 65 |
| 4 Beds | $393,040 | $399,000 | $285,000 – $485,000 | $248 / $244 | 1,636 / 1,580 | 49 / 27 | 1 | 20 |
| 5 Beds | $463,611 | $489,900 | $349,000 – $499,900 | $202 / $203 | 2,178 / 2,116 | 59 / 42 | 0 | 9 |
| 6 Beds | $616,860 | $719,900 | $412,000 – $749,900 | $243 / $243 | 3,090 / 3,090 | 80 / 43 | 0 | 5 |
| 7 Beds | $749,990 | $749,990 | $749,990 – $749,990 | $161 / $161 | 4,669 / 4,669 | 43 / 43 | 0 | 1 |
| 8 Beds | $643,748 | $625,000 | $600,000 – $700,000 | — | — | 104 / 92 | 0 | 4 |
Rental Market Overview
Median Rent
$1,712
+0.7%
Median DOM
21
+10.5%
New Listings
27
Inventory
141
−8.4%
- Average Rent: $1,756
- Median Rent: $1,712
- Rent Range: $650 – $4,002
- Rent per Sq Ft (Avg/Median): $2 / $2
- Square Footage (Avg/Median): 1,176 / 1,068
- Square Footage Range: 300 – 3,662
- Days on Market (Avg/Median): 51 / 21
- Days on Market Range: 1 – 331
- New Listings: 27
- Total Listings: 141
Rentals by Property Type
Apartment
$1,526
Median DOM: 1
Inventory: 72
MoM: +0.7%
Condo
$1,300
Median DOM: 42
Inventory: 3
MoM: +0.7%
Single Family
$2,050
Median DOM: 28
Inventory: 48
MoM: +0.7%
Townhouse
$1,600
Median DOM: 29
Inventory: 18
MoM: +0.7%
Apartment
Avg/Median Rent$1,636 / $1,526Range$650 – $4,002Rent per Sq Ft$2 / $2Sq Ft985 / 905DOM56 / 1New18Total72
Condo
Avg/Median Rent$1,216 / $1,300Range$950 – $1,399Rent per Sq Ft$2 / $2Sq Ft783 / 924DOM48 / 42New1Total3
Single Family
Avg/Median Rent$2,030 / $2,050Range$715 – $2,999Rent per Sq Ft$1 / $1Sq Ft1,511 / 1,518DOM44 / 28New5Total48
Townhouse
Avg/Median Rent$1,595 / $1,600Range$899 – $2,300Rent per Sq Ft$1 / $1Sq Ft1,102 / 1,008DOM56 / 29New3Total18
Rentals by Bedroom Count
Studio
Avg:$1,000Median:$720Range:$650 – $1,679PSF:$3 / $2Sq Ft:372 / 340DOM:256 / 256New:0Total:4
1 Beds
Avg:$1,420Median:$1,468Range:$715 – $2,189PSF:$2 / $2Sq Ft:801 / 737DOM:38 / 1New:7Total:26
2 Beds
Avg:$1,631Median:$1,499Range:$850 – $4,002PSF:$2 / $2Sq Ft:1,054 / 1,037DOM:59 / 15New:12Total:54
3 Beds
Avg:$1,984Median:$2,000Range:$1,000 – $2,839PSF:$2 / $1Sq Ft:1,350 / 1,280DOM:41 / 29New:5Total:38
4 Beds
Avg:$2,257Median:$2,200Range:$1,300 – $2,999PSF:$1 / $1Sq Ft:1,706 / 1,695DOM:49 / 8New:3Total:18
5 Beds
Avg:$2,550Median:$2,550Range:$2,550 – $2,550PSF:$1 / $1Sq Ft:3,662 / 3,662DOM:112 / 112New:0Total:1
| Beds | Avg | Median | Range | Avg/Med PSF | Avg/Med Sq Ft | Avg/Med DOM | New | Total |
|---|---|---|---|---|---|---|---|---|
| Studio | $1,000 | $720 | $650 – $1,679 | $3 / $2 | 372 / 340 | 256 / 256 | 0 | 4 |
| 1 Beds | $1,420 | $1,468 | $715 – $2,189 | $2 / $2 | 801 / 737 | 38 / 1 | 7 | 26 |
| 2 Beds | $1,631 | $1,499 | $850 – $4,002 | $2 / $2 | 1,054 / 1,037 | 59 / 15 | 12 | 54 |
| 3 Beds | $1,984 | $2,000 | $1,000 – $2,839 | $2 / $1 | 1,350 / 1,280 | 41 / 29 | 5 | 38 |
| 4 Beds | $2,257 | $2,200 | $1,300 – $2,999 | $1 / $1 | 1,706 / 1,695 | 49 / 8 | 3 | 18 |
| 5 Beds | $2,550 | $2,550 | $2,550 – $2,550 | $1 / $1 | 3,662 / 3,662 | 112 / 112 | 0 | 1 |
6-Month Sales Trend
Mar 2026
Median Price:$350,000Median DOM:32New:30Total:112
Apr 2026
Median Price:$374,900Median DOM:32New:27Total:112
May 2026
Median Price:$375,000Median DOM:30New:41Total:125
Jun 2026
Median Price:$385,000Median DOM:32New:37Total:130
Jul 2026
Median Price:$380,000Median DOM:37New:52Total:148
Aug 2026
Median Price:$375,000Median DOM:37New:22Total:152
6-Month Rental Trend
Mar 2026
Median Rent:$1,762Median DOM:1New:101Total:225
Apr 2026
Median Rent:$1,731Median DOM:1New:111Total:237
May 2026
Median Rent:$1,666Median DOM:1New:105Total:231
Jun 2026
Median Rent:$1,650Median DOM:1New:61Total:208
Jul 2026
Median Rent:$1,700Median DOM:19New:38Total:154
Aug 2026
Median Rent:$1,712Median DOM:21New:27Total:141
Key Market Takeaways
Median sale prices softened 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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