ZIP 85016 (Phoenix, AZ) Housing Market Update — February 22, 2026
85016 – February 22, 2026 – Prices cooled year over year, but sales rose. Inventory is elevated; expect longer timelines and room to negotiate.
ZIP 85016 (Phoenix, Arizona) is starting 2026 with softer prices than a year ago, but steady activity. Recent market trackers show longer selling timelines and more negotiation leverage for buyers than last winter.
Top takeaways
- Median sale price in ZIP 85016 was about $545K in January 2026 (down 5.6% year over year).
- Homes are taking longer to sell: about 68 median days on market in January (up 7 days year over year).
- Closings increased: 138 homes sold in January (up about 21% year over year).
- Negotiation is common: average sale-to-list was about 96.5% in the latest Redfin snapshot.
Market snapshot (latest available)
Prices: Redfin puts the January 2026 median sale price at $545,375, with a median sale price per square foot around $396 (both down year over year). Zillow’s typical home value estimate for 85016 is $515,308 as of data through January 31, 2026.
Market pace: Redfin reports 68 median days on market in January 2026. Zillow shows a median of about 45 days to pending (as of January 31, 2026), which suggests many listings still need time plus negotiation before going under contract.
Inventory: Zillow reports 264 homes for sale inventory for 85016 as of January 31, 2026, with 60 new listings in that same snapshot. More choice usually means buyers can be selective on condition, HOA rules, and price per square foot.
Rentals and small multifamily signals
Zillow’s rental tracker shows an average rent around $1,640 in 85016 (data through January 31, 2026). If you’re a landlord, this is a good moment to compare your renewal pricing to new-lease competition and keep an eye on concession trends.
What’s for sale nearby (no addresses)
- Condos and townhomes: A large share of 85016 listings tends to cluster in condo and townhome product, which can create value opportunities when days-on-market stretches.
- Single-family homes: Watch for listings that have sat 45 to 75+ days, where sellers may be more open to rate buydowns, closing credits, or repair allowances.
- Recently sold comps: Use recent sales to sanity-check list prices, especially where remodel quality varies block by block.
ServiceXTC directory spotlight (real-estate-adjacent help)
- Zoop HVAC Repair (HVAC)
Note: ServiceXTC’s current directory coverage near ZIP 85016 is still growing. If you’re a local pro (inspection, roofing, remodeling, plumbing, electrical), getting listed helps homeowners and buyers find you at the right time.
Sources (reference pages used)
- Redfin: ZIP 85016 housing market trends (Jan 2026)
- Zillow: ZIP 85016 home values, inventory, and rent metrics (data through Jan 31, 2026)
- Realtor.com: ZIP 85016 market overview context
- Redfin: ZIP 85016 recently sold hub
What are you seeing right now in 85016: more price cuts, more buyer requests for credits, or multiple-offer pockets that still feel competitive?