Real Estate Market Update for 85007 (Phoenix, AZ)

Video: Real Estate Community Tour for 85007 (Phoenix, AZ)

See Real estate community tour for 85007 (Phoenix, AZ)
Welcome to June's Market Update. Let’s take a look at residential real-estate activity in your area during the month of May. The number of active listings was up 4% from one year earlier, and down 12% from the previous month. Even so, buyers still enjoyed a greater selection of homes today than they did one year ago. As you can see, the median listing price for the month was just under 370-thousand dollars. Compared to last year, the average number of days units spent on the market before being sold was up 8%. This higher number of days may signal a slowdown in the local inventory-turnover rate. The median sale price was just under 340-thousand dollars. The number of units sold increased 21% year-over-year, and increased 28% month-over-month. These figures may indicate that buyers have been taking advantage of opportunities in this market. Thanks for watching. We hope you use this information to make smart, informed decisions in your upcoming real-estate transactions. Feel free to contact us for more information or further assistance.
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Map Information for 85007 (Phoenix, AZ)
Area Information for 85007 (Phoenix, AZ)
  • Population: 14,451
  • Median Age: 35.32 yr
  • Median Commute Time: 23 mins
  • Educational Climate*: 3
  • Sales Tax: 6%
  • Population Density: 3,201/sq mi
  • Population Change Since 2000: -8.4%
  • Closest Airport: Phoenix Sky Harbor International
  • Closest College: Grand Canyon University
  • Closest Jr. College: Phoenix College
  • Median Household Income: $29,895
  • Annual Residential Turnover: 19%
  • Median Home Sales Price: $155,000
  • Closest Major Sports Team: Phoenix Mercury
  • Change Avg. Household Income Since 2000: 32.13%
* Scale from 1-5  ** Index where 100 is the national average
Demographic Data for 85007 (Phoenix, AZ)
Median Age: 35.32 Married: 25% Number of Households: 4,969 Households with Children: 1,494
    • Occupancy Types
      • 3599 Vacant
      • 8822 Owned
      • 12512 Rented
    • Transportation to Work
      • 43% Drive
      • 47% Public Transportation
      • 8% Walk / Bike / Other
      • 8% Work at Home
    National Index Comparisons:
    (100 National Average)
      • Population By Sex(%)
        • 50% Male
        • 50% Female
      • White/Blue Collar Jobs
        • 50% White Collar
        • 50% Blue Collar
      School Data for 85007 (Phoenix, AZ)

      School Name Distance Type Grades School Rating Parent Rating
      Capitol Elementary School 0.3 mi Public PRESCHOOL-8 2 0
      Paul Dunbar Lawrence School 0.7 mi Public PRESCHOOL-8 2 0
      Mary Mcleod Bethune School 1.0 mi Public PRESCHOOL-8 1 0
      The Family School 1.2 mi Private PRESCHOOL-K 0 0
      Franklin Police And Fire High School 1.2 mi Public 9-12 3 4
      Metropolitan Arts Institute 1.3 mi Public 7-12 4 4
      Proximity to listed schools and their school district(s) does not guarantee enrollment eligibility. Please contact a local real estate professional or the local school district(s) for the most current information relating to schools in the area. Sources: Onboard Informatics © 2016. School Performance data by School Review data by
      Local Weather for 85007 (Phoenix, AZ)
        Community information and market data Powered by Onboard Informatics. Copyright ©2016 Onboard Informatics. Information is deemed reliable but not guaranteed. * Based on a 30-year fixed rate of 4.75% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Interest rates are also subject to credit and property approval based on secondary market guidelines. The rates shown are based on average rates for our best qualified customers. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.