Phoenix zip code 85028

Since the peak in 2020, when 409 SFD homes were sold, sales of homes in 85028 are down 45%, primarily due to the rise in interest rates on the 30-year mortgage. However, despite the sharp decline in the number of homes sold, the average sale price increased 7.88% in 2024 to $875,287.

Metro Phoenix Housing Market Update March 2024

A rise in the inventory of homes for sale provides Buyers with more options but introduces greater competition for Sellers.
Increases in both the Average Sale Price and Price Per Square Foot benefit Sellers, but pose a disadvantage for Buyers.