ZIP 85016 Housing Market Report
Phoenix Metro
Report period: March 2026
85016 Monthly Market Update – March 2026
ZIP 85016 · Last updated Mar 11, 2026 · Data range Oct 2025 – Mar 2026
Executive Snapshot
Median Sale Price
$599,900
−0.0%
Median DOM (Sales)
31
0.0%
New Listings (Sales)
33
−60.7%
Median Rent
$1,590
−0.4%
Median DOM (Rental)
1
0.0%
Total Rental Listings
686
+8.7%
Month-over-Month Movement
Median sale prices eased compared to last month. Rents softened. Rental inventory expanded.
What's Moving Fastest
- Fastest selling: Single Family (29 DOM)
- Fastest renting: Apartment (1 DOM)
- Strongest bedroom: 7 Beds ($5,995,000 median)
Sales Market Overview
Median Price
$599,900
−0.0%
Median DOM
31
0.0%
New Listings
33
−60.7%
Inventory
404
+7.7%
- Average Price: $936,042
- Median Price: $599,900
- Price Range: $139,999 – $7,250,000
- Price per Sq Ft (Avg/Median): $425 / $384
- Square Footage (Avg/Median): 1,922 / 1,604
- Square Footage Range: 569 – 13,366
- Days on Market (Avg/Median): 75 / 31
- Days on Market Range: 1 – 357
- New Listings: 33
- Total Listings: 404
Sales by Property Type
Condo
Avg/Median Price$733,783 / $365,000Range$148,000 – $4,995,000Price per Sq Ft$414 / $351Sq Ft1,409 / 1,121DOM95 / 47New11Total136
Land
Avg/Median Price$1,088,500 / $595,000Range$299,000 – $2,500,000Price per Sq Ft—Sq Ft—DOM148 / 145New0Total4
Multi-Family
Avg/Median Price$1,273,500 / $824,000Range$820,000 – $2,450,000Price per Sq Ft$406 / $402Sq Ft2,026 / 2,000DOM70 / 30New0Total4
Single Family
Avg/Median Price$1,250,932 / $824,000Range$299,000 – $7,250,000Price per Sq Ft$464 / $425Sq Ft2,491 / 2,040DOM64 / 29New11Total178
Townhouse
Avg/Median Price$564,056 / $489,999Range$139,999 – $1,495,000Price per Sq Ft$359 / $340Sq Ft1,537 / 1,496DOM66 / 30New11Total82
Sales by Bedroom Count
Studio
Avg:$199,995Median:$199,995Range:$199,995 – $199,995PSF:$351 / $351Sq Ft:569 / 569DOM:—New:0Total:1
1 Beds
Avg:$280,817Median:$259,000Range:$148,000 – $550,000PSF:$334 / $302Sq Ft:826 / 847DOM:91 / 31New:5Total:40
2 Beds
Avg:$566,280Median:$440,000Range:$139,999 – $2,750,000PSF:$382 / $356Sq Ft:1,382 / 1,236DOM:83 / 32New:11Total:146
3 Beds
Avg:$1,027,873Median:$695,000Range:$299,999 – $4,690,000PSF:$460 / $390Sq Ft:2,032 / 1,910DOM:68 / 30New:10Total:131
4 Beds
Avg:$1,346,262Median:$1,050,000Range:$415,000 – $4,995,000PSF:$458 / $429Sq Ft:2,749 / 2,572DOM:57 / 29New:4Total:58
5 Beds
Avg:$2,148,494Median:$1,425,000Range:$665,000 – $5,950,000PSF:$552 / $488Sq Ft:3,607 / 3,341DOM:72 / 30New:2Total:18
6 Beds
Avg:$4,472,500Median:$3,950,000Range:$3,950,000 – $4,995,000PSF:$627 / $549Sq Ft:7,136 / 7,073DOM:16 / 2New:1Total:2
7 Beds
Avg:$6,622,500Median:$5,995,000Range:$5,995,000 – $7,250,000PSF:$816 / $449Sq Ft:9,746 / 6,125DOM:182 / 182New:0Total:2
8 Beds
Avg:$3,049,950Median:$2,450,000Range:$2,450,000 – $3,649,900PSF:$409 / $409Sq Ft:8,933 / 8,933DOM:145 / 30New:0Total:2
| Beds | Avg | Median | Range | Avg/Med PSF | Avg/Med Sq Ft | Avg/Med DOM | New | Total |
|---|---|---|---|---|---|---|---|---|
| Studio | $199,995 | $199,995 | $199,995 – $199,995 | $351 / $351 | 569 / 569 | — | 0 | 1 |
| 1 Beds | $280,817 | $259,000 | $148,000 – $550,000 | $334 / $302 | 826 / 847 | 91 / 31 | 5 | 40 |
| 2 Beds | $566,280 | $440,000 | $139,999 – $2,750,000 | $382 / $356 | 1,382 / 1,236 | 83 / 32 | 11 | 146 |
| 3 Beds | $1,027,873 | $695,000 | $299,999 – $4,690,000 | $460 / $390 | 2,032 / 1,910 | 68 / 30 | 10 | 131 |
| 4 Beds | $1,346,262 | $1,050,000 | $415,000 – $4,995,000 | $458 / $429 | 2,749 / 2,572 | 57 / 29 | 4 | 58 |
| 5 Beds | $2,148,494 | $1,425,000 | $665,000 – $5,950,000 | $552 / $488 | 3,607 / 3,341 | 72 / 30 | 2 | 18 |
| 6 Beds | $4,472,500 | $3,950,000 | $3,950,000 – $4,995,000 | $627 / $549 | 7,136 / 7,073 | 16 / 2 | 1 | 2 |
| 7 Beds | $6,622,500 | $5,995,000 | $5,995,000 – $7,250,000 | $816 / $449 | 9,746 / 6,125 | 182 / 182 | 0 | 2 |
| 8 Beds | $3,049,950 | $2,450,000 | $2,450,000 – $3,649,900 | $409 / $409 | 8,933 / 8,933 | 145 / 30 | 0 | 2 |
Rental Market Overview
Median Rent
$1,590
−0.4%
Median DOM
1
0.0%
New Listings
197
Inventory
686
+8.7%
- Average Rent: $1,952
- Median Rent: $1,590
- Rent Range: $667 – $10,000
- Rent per Sq Ft (Avg/Median): $2 / $2
- Square Footage (Avg/Median): 997 / 850
- Square Footage Range: 300 – 5,931
- Days on Market (Avg/Median): 39 / 1
- Days on Market Range: 1 – 365
- New Listings: 197
- Total Listings: 686
Rentals by Property Type
Apartment
$1,495
Median DOM: 1
Inventory: 562
MoM: −0.4%
Condo
$1,450
Median DOM: 19
Inventory: 9
MoM: −0.4%
Single Family
$2,800
Median DOM: 25
Inventory: 68
MoM: −0.4%
Townhouse
$2,650
Median DOM: 58
Inventory: 47
MoM: −0.4%
Apartment
Avg/Median Rent$1,677 / $1,495Range$667 – $9,500Rent per Sq Ft$2 / $2Sq Ft862 / 771DOM34 / 1New181Total562
Condo
Avg/Median Rent$1,718 / $1,450Range$795 – $2,975Rent per Sq Ft$2 / $2Sq Ft1,021 / 874DOM51 / 19New1Total9
Single Family
Avg/Median Rent$3,415 / $2,800Range$900 – $8,995Rent per Sq Ft$2 / $2Sq Ft1,780 / 1,619DOM60 / 25New12Total68
Townhouse
Avg/Median Rent$3,170 / $2,650Range$1,000 – $10,000Rent per Sq Ft$2 / $2Sq Ft1,502 / 1,488DOM73 / 58New3Total47
Rentals by Bedroom Count
Studio
Avg:$1,178Median:$1,259Range:$667 – $2,047PSF:$2 / $2Sq Ft:561 / 535DOM:41 / 1New:26Total:77
1 Beds
Avg:$1,427Median:$1,395Range:$749 – $3,750PSF:$2 / $2Sq Ft:727 / 714DOM:25 / 1New:95Total:263
2 Beds
Avg:$2,141Median:$1,830Range:$1,094 – $10,000PSF:$2 / $2Sq Ft:1,100 / 1,048DOM:47 / 6New:64Total:257
3 Beds
Avg:$3,301Median:$2,800Range:$900 – $8,000PSF:$2 / $2Sq Ft:1,715 / 1,750DOM:62 / 31New:10Total:71
4 Beds
Avg:$4,318Median:$3,950Range:$1,875 – $8,000PSF:$2 / $2Sq Ft:2,155 / 2,116DOM:50 / 20New:2Total:15
5 Beds
Avg:$7,325Median:$5,750Range:$5,750 – $8,900PSF:$2 / $2Sq Ft:3,637 / 2,971DOM:19 / 11New:0Total:2
6 Beds
Avg:$8,995Median:$8,995Range:$8,995 – $8,995PSF:$2 / $2Sq Ft:5,931 / 5,931DOM:76 / 76New:0Total:1
| Beds | Avg | Median | Range | Avg/Med PSF | Avg/Med Sq Ft | Avg/Med DOM | New | Total |
|---|---|---|---|---|---|---|---|---|
| Studio | $1,178 | $1,259 | $667 – $2,047 | $2 / $2 | 561 / 535 | 41 / 1 | 26 | 77 |
| 1 Beds | $1,427 | $1,395 | $749 – $3,750 | $2 / $2 | 727 / 714 | 25 / 1 | 95 | 263 |
| 2 Beds | $2,141 | $1,830 | $1,094 – $10,000 | $2 / $2 | 1,100 / 1,048 | 47 / 6 | 64 | 257 |
| 3 Beds | $3,301 | $2,800 | $900 – $8,000 | $2 / $2 | 1,715 / 1,750 | 62 / 31 | 10 | 71 |
| 4 Beds | $4,318 | $3,950 | $1,875 – $8,000 | $2 / $2 | 2,155 / 2,116 | 50 / 20 | 2 | 15 |
| 5 Beds | $7,325 | $5,750 | $5,750 – $8,900 | $2 / $2 | 3,637 / 2,971 | 19 / 11 | 0 | 2 |
| 6 Beds | $8,995 | $8,995 | $8,995 – $8,995 | $2 / $2 | 5,931 / 5,931 | 76 / 76 | 0 | 1 |
6-Month Sales Trend
Oct 2025
Median Price:$560,000Median DOM:41New:80Total:364
Nov 2025
Median Price:$560,000Median DOM:42New:54Total:360
Dec 2025
Median Price:$579,000Median DOM:54New:47Total:345
Jan 2026
Median Price:$595,000Median DOM:47New:91Total:362
Feb 2026
Median Price:$599,990Median DOM:31New:84Total:375
Mar 2026
Median Price:$599,900Median DOM:31New:33Total:404
6-Month Rental Trend
Oct 2025
Median Rent:$1,795Median DOM:59New:54Total:366
Nov 2025
Median Rent:$1,750Median DOM:54New:65Total:383
Dec 2025
Median Rent:$1,695Median DOM:57New:71Total:382
Jan 2026
Median Rent:$1,700Median DOM:55New:84Total:391
Feb 2026
Median Rent:$1,596Median DOM:1New:338Total:631
Mar 2026
Median Rent:$1,590Median DOM:1New:197Total:686
Key Market Takeaways
Median sale prices softened this month while inventory expanded. Days on market were unchanged, signaling steady buyer activity. Rental pricing eased, while total rental inventory increased.
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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