85308 Home Prices & Values

$230,800 Zillow Home Value Index What's This?  
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The Zillow Home Value Index is the median Zestimate valuation for a given geographic area on a given day. Learn more

  • 3.3% 1-year change
  • 5.3% 1-year forecast

Market Temperature: NeutralWhat's This?
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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

Buyers' Market Sellers' Market

The median home value in 85308 is $230,800. 85308 home values have gone up 3.3% over the past year and Zillow predicts they will rise 5.3% within the next year. The median list price per square foot in 85308 is $128, which is lower than the Phoenix average of $128. The median price of homes currently listed in 85308 is $259,000 while the median price of homes that sold is $225,025. The median rent price in 85308 is $1,350, which is higher than the Phoenix median of $1,095.

Foreclosures will be a factor impacting home values in the next several years. In 85308 4.1 homes are foreclosed (per 10,000). This is lower than the Phoenix value of 4.5 and also lower than the national value of 4.3

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 85308 is 3.5%, which is lower than the national value of 6.9%. 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 85308 homeowners underwater on their mortgage is 16.4%, which is lower than Phoenix at 22.2%.

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Relative ZHVI
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85308 Market Overview

Data through Aug 31, 2014
  • $230,800 ZHVI
  • 5.3% 1-yr forecast What's This?  
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    The Zillow Home Value Forecast is Zillow's prediction of what the Zillow Home Value Index will be one year from now. Learn more

    (Aug 31, 2015)
  • $259,000 Median listing price
  • $225,025 Median sale price
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85308 Market Health

Data through Aug 31, 2014
  • 5.2/10 Stable What's This?  
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    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
  • 16.4% Homes with negative equity (17.0% US Avg) (Jun 30, 2014)
  • 3.5% Delinquent on mortgage (6.9% US Avg) (Jun 30, 2014)

Homes foreclosed (per 10,000)

4.1 homes 85308
4.5 homes Phoenix
4.3 homes United States
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Nearby Zip Codes

Name Median ZHVI Name Median ZHVI Name Median ZHVI
85083 $314,700 85310 $263,000 85382 $224,100
85381 $215,000 85023 $185,700 85306 $168,400
85304 $165,700 85027 $158,400 85053 $155,800

Listings & Sales

Data through Aug 31, 2014
  • $128 Median list price / sq ft
  • $123 Median sale price / sq ft
  • 55.1% Listings with price cut
11.3%
Sold below listing
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85308 Rentals

Data through Aug 31, 2014
Zillow Rent Index What's This?
Close The Zillow Rent Index is the median Rent Zestimate valuation for a given geographic area on a given day. Learn more
$1,327 85308
$1,135 Phoenix
$1,328 United States
  • 1.6 Breakeven horizon What's This?  
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    The breakeven horizon is the number of years after which buying is more financially advantageous than renting. Learn more

    (Jun 30, 2014)
  • $1,350 Rent list price
  • $0.80 Rent list price / sq ft
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