85023 Housing Market Report May 2025•Maricopa County, Arizona

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Housing Prices in 85023, AZ

How much do homes in 85023, AZ cost?

Housing Market Conditions

Is 85023, AZ a buyer’s or seller’s market?

Housing Market Conditions

This is the supply and demand for houses in an area based on home prices and trends.

Buyer’s Market

A buyer’s market occurs when the number of available properties for sale exceeds the number of buyers looking to purchase. In a buyer’s market, the supply exceeds the demand.

Neutral Market

A neutral market occurs when the number of buyers looking to purchase properties meets the number of available properties for sale. In a balanced market, there are enough homes to meet the demand.

Seller’s Market

A seller’s market occurs when there are more buyers looking to purchase properties than there are available homes on the market. In a seller’s market, the demand exceeds the supply.

Seller'sMarket

Buyer'sMarket

85023 is a Seller's Market

Difference Since May 2024

Since last year, 85023 has remained a Seller's Market.

Insight

85023 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Median Sold Price

Median Sold Price
This is the middle price for which all homes in the area were sold. Half of all the homes sold were below this price, and half were above.
$449,800$270/SqFt
+$8,800
+2.0%

Based on all homes sold in the last 12 months

Insight

Homes in 85023 have sold for 2% more than they did a year ago.

Summary: The median home sold price in 85023 was $449,800 in May 2025, up 2% from last year, and the median price per square foot was $270.

Median Sold Price By Zip Codes

Median Sold Price By Zip Codes
This is the middle price for which all homes in the area were sold compared to surrounding cities. Half of all the homes sold were below this price, and half were above.
CityChange YoY
85029
+2.7%
85023
+2.0%
85027
0.5%
85022
-0.8%

Median Sold Price By Bedrooms

Median Sold Price By Bedrooms
This is the middle price for all homes actively listed in an area broken out by the number of bedrooms. Half of the homes are listed below this price, and half are above.
BedsMay 2024May 2025Change YoY
1$192K$190K
-1.0%
2$348.7K$320K
-8.2%
3$435K$429.5K
-1.3%
4$559K$521.5K
-6.7%
5$718K$1.3M
+81.1%

Summary: 85023 housing price by bedroom type for May 2025, compared to the previous year. The home price for 1 bedroom homes decreased by -1.0%. The home price for 2 bedroom homes decreased by -8.2%. The home price for 3 bedroom homes decreased by -1.3%. The home price for 4 bedroom homes decreased by -6.7%. The home price for 5 bedroom homes increased by +81.1%.

How does 85023, AZ compare with other places?

Market comparison tool

Data and numbers shown are subject to change and may vary based on different timeframes.

85023, AZ

Housing supply in 85023, AZ

How many homes are available in 85023, AZ?

Number of Homes For Sale

Number of Homes For Sale
This is the total number of homes actively listed in an area.
Last Month2 months agoChange MoM
123Last MonthMay 2025
1292 months agoApr 2025
-4.7 %
Change MoMApr – May

Summary: The 85023 real estate market had 123 homes for sale in May 2025, a 4.7 % decrease compared to Apr 2025.

Number of Homes Sold

Number of Homes Sold
This is the total number of both homes sold and pending in an area.
Last Month2 months agoChange MoM
31Last MonthMay 2025
282 months agoApr 2025
+10.7 %
Change MoMApr – May

Homes For Sale By Bedroom Count

Homes For Sale By Bedroom Count
This is the total number of homes actively listed in an area by number of bedrooms.
BedsApr 2025May 2025Change MoM
134
+33.3%
21112
+9.1%
36861
-10.3%
43837
-2.6%
599
0.0%

Summary: 85023 housing inventory by bedroom type for May 2025, compared to the previous month. The inventory for 1 bedroom homes increased by +33.3%. The inventory for 2 bedroom homes increased by +9.1%. The inventory for 3 bedroom homes decreased by -10.3%. The inventory for 4 bedroom homes decreased by -2.6%. The inventory for 5 bedroom homes remained the same.

Asking Price vs. Sold Price

How much do homes in 85023, AZ cost?

Asking Price vs. Sold Price

The asking price is how much a home is listed for. The selling price is how much the home actually sold for.

Under Asking

Homes that sold for less than the asking price

At Asking

Homes that sold at their asking price

Over Asking

Homes that sold above the asking price

Over Asking Price4 Homes

At Asking Price7 Homes

Under Asking Price20 Homes

Insight

If you're buying a home in 85023, you may be able to get a good deal. 64.5% of homes here sold below asking price last month.

Summary: A total of 31 homes were sold or pending in 85023 in May 2025, up by 10.7% month-over-month. Of the 31 sold homes, 65% were sold under asking, 23% were sold at asking, and and 13% were sold over asking.

Days on Market for 85023, AZ

How long does it take to sell a home in 85023, AZ?

Breakdown of Home Sale Times

Under 30 Days17 Homes

30 – 90 Days10 Homes

Over 90 Days4 Homes

Insight

Many homes in 85023 are selling fast, if you're buying plan to act quickly.

Summary: During May 2025, 31 homes were sold in 85023; 55% of homes were sold within 30 days, 32% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.

Average Sale Time

Average Sale Time
This is the average number of days homes take to sell in an area.
This Year1 year agoChange YoY
46 DaysThis YearMay 2025
36 Days1 year agoMay 2024
+27.7 %
Change YoYMay 2024 – May 2025

Summary: Homes in 85023 had an average listing age of 46 days in May 2025, up by 27.7% compared to the previous year.

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Newest Listings in 85023, AZ

What homes are available in 85023, AZ?

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MLS Disclaimers and Copyright

Based on information from Arizona Regional MLS, for the period 06/01/2023 - 06/01/2025

IDX The data relating to real estate for sale on this site comes from the Broker Reciprocity/IDX of Arizona Regional Multiple Listing Service, Inc. Indicates a property listed by a real estate brokerage other than Rocket Homes Real Estate, LLC. All information should be verified by the recipient and none is guaranteed as accurate by ARMLS. No warranties, expressed or implied, are provided for the data herein, or for their use or interpretation by the user. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Arizona Regional Multiple Listing Service, Inc. do not create, control or review the property data displayed herein and take no responsibility for the content of such records. Federal law prohibits discrimination on the basis of race, color, religion, sex, handicap, familial status or national origin in the sale, rental or financing of housing. Information deemed reliable but not guaranteed. Copyright© 2025 Arizona Regional Multiple Listing Service, Inc. All Rights Reserved.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 6/26/2025, 12:55:31 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.