Home Values

85248 Home Prices & Values

Zillow Home Value Index

The Zillow Home Value Index is the median Zestimate valuation for a given geographic area on a given day. Learn more

$306,500

  • 3.9% 1-year change
  • 3.3% 1-year forecast

Market Temperature

Based on three metrics—sale-to-list price ratio, the prevalence of price cuts on home listings, and time-on-market—the market temperature provides information on the current balance of bargaining power between buyers and sellers in this zip code relative to other zip codes in the same metropolitan area. A particular zip code may be identified as a good market for buyers in a metro market favorable to sellers overall. Learn more

Cold

Buyers' Market
Sellers' Market

The median home value in 85248 is $306,500. 85248 home values have gone up 3.9% over the past year and Zillow predicts they will rise 3.3% within the next year. The median list price per square foot in 85248 is $146, which is higher than the Chandler average of $136. The median price of homes currently listed in 85248 is $315,750 while the median price of homes that sold is $267,985. The median rent price in 85248 is $1,695, which is higher than the Chandler median of $1,295.

Foreclosures will be a factor impacting home values in the next several years. In 85248 1.0 homes are foreclosed (per 10,000). This is lower than the Chandler value of 2.4 and also lower than the national value of 4.0

Mortgage delinquency is the first step in the foreclosure process. This is when a homeowner fails to make a mortgage payment. The percent of delinquent mortgages in 85248 is 2.3%, which is lower than the national value of 6.4%. With U.S. home values having fallen by more than 20% nationally from their peak in 2007 until their trough in late 2011, many homeowners are now underwater on their mortgages, meaning they owe more than their home is worth. The percent of 85248 homeowners underwater on their mortgage is 12.2%, which is lower than Chandler at 16.9%.

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Relative ZHVI
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85248 Market Overview

Data through Dec 31, 2014
  • $306,500 ZHVI
  • 3.3% 1-yr forecast
    The Zillow Home Value Forecast is Zillow's prediction of what the Zillow Home Value Index will be one year from now. Learn more
    (Dec 31, 2015)
  • $315,750 Median listing price
  • $267,985 Median sale price
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85248 Market Health

Data through Dec 31, 2014
  • 7.7/10 Very healthy
    The Market Health Index illustrates the current health of a region's housing market relative to other markets across the country. The Market Health Index is based on up to 10 metrics including those capturing the past and projected evolution of home values, the prevalence of foreclosures, foreclosure re-sales, negative equity and delinquency, as well as whether homes are currently selling faster or slower than in the past.
  • No data Average days on Zillow
  • 12.2% Homes with negative equity (16.9% US Avg) (Sep 30, 2014)
  • 2.3% Delinquent on mortgage (6.4% US Avg) (Sep 30, 2014)

Homes foreclosed (per 10,000)

1 home 85248
2.4 homes Chandler
4 homes United States
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Nearby Zip Codes

Name Median ZHVI
85284 $375,900
85249 $329,000
85286 $313,900
Name Median ZHVI
85048 $307,100
85044 $246,000
85226 $243,600
Name Median ZHVI
85283 $217,100
85224 $202,700
85225 $197,500

Listings & Sales

Data through Dec 31, 2014
  • $146 Median list price / sq ft
  • $145 Median sale price / sq ft
  • 18.1% Listings with price cut
13.0%
Sold below listing
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85248 Rentals

Data through Dec 31, 2014
  • Zillow Rent Index

  • $1,581 85248
    $1,387 Chandler
    $1,345 United States

    The Zillow Rent Index is the median Rent Zestimate valuation for a given geographic area on a given day. Learn more

  • 2.0 Breakeven horizon
    The breakeven horizon is the number of years after which buying is more financially advantageous than renting. Learn more
    (Jun 30, 2014)
  • $1,695 Rent list price
  • $0.89 Rent list price / sq ft
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