Real Estate Market Update for 85040 (Phoenix, AZ)
Welcome to October's Market Update,. Let’s take a look at residential real-estate activity in your area during the month of October. The number of active listings was down 45% from one year earlier, and down 31% from the previous month. This smaller inventory means that buyers who waited to buy may have had a smaller selection to choose from. As you can see, the median listing price for the month was just under 120-thousand dollars. Compared to last year, the average number of days units spent on the market before being sold was down 16%. This lower number of days may signal a positive trend in the local inventory-turnover rate. The median sale price was just over 110-thousand dollars. The number of units sold decreased 30% year-over-year, and decreased 25% month-over-month. Fewer sales could indicate an opportunity for buyers to negotiate better terms. 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.
Show Transcript
Map Information for 85040 (Phoenix, AZ)
Area Information for 85040 (Phoenix, AZ)
  • Population: 29,865
  • Median Age: 27.11 yr
  • Median Commute Time: 19.84 mins
  • Educational Climate*: 2
  • Sales Tax: 6.3%
  • Population Density: 2,935/sq mi
  • Population Change Since 2000: 5.33%
  • Closest Airport: Phoenix Sky Harbor International
  • Closest College: University Of Advancing Technology
  • Closest Jr. College: South Mountain Community College
  • Median Household Income: $32,243
  • Annual Residential Turnover: 20.48%
  • Median Years in Residence: 2.57 yr
  • Median Home Sales Price: $60,000
  • Closest Major Sports Team: Diamondbacks
  • Change Avg. Household Income Since 2000: 28%
* Scale from 1-5  ** Index where 100 is the national average
Demographic Data for 85040 (Phoenix, AZ)
Median Age: 27.11 Married: 18% Number of Households: 8,921 Households with Children: 4,238
Community:
    • 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 85040 (Phoenix, AZ)

      School Name Distance Type Grades GreatSchools Rating Parent Rating
      Martin Luther King Jr Elementary School 0.4 mi Public PRESCHOOL-PRESCHOOL 0 2
      Percy L Julian School 0.4 mi Public K-8 0 2
      Sabis International 0.7 mi Public K-8 3 2
      Brooks Academy 0.8 mi Public K-8 0 1
      Casy South Valley Academy 1.0 mi Public K-8 0 0
      Rose Linda School 1.6 mi Public K-8 1 3
      Precision Academy System Charter School 1.7 mi Public 9-12 0 4
      South Valley Prep And Arts School 2.0 mi Public - 0 0
      South Phoenix Prep And Arts Academy 2.0 mi Public - 0 0
      South Mountain High School 2.2 mi Public 9-12 2 3
      Cesar E Chavez Community School 2.4 mi Public PRESCHOOL-8 0 3
      Advance U 2.5 mi Public K-3 0 0
      Nfl Yet College Prep Academy 2.5 mi Public 7-12 3 4
      Reyes Maria Ruiz Leadership Academy 2.5 mi Public 4-6 2-5 4
      Phoenix Collegiate Academy Charter School 2.7 mi Public 4-8 1 0
      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: GreatSchools.org and Onboard Informatics © 2014
      Local Weather for 85040 (Phoenix, AZ)
        Community information and market data Powered by Onboard Informatics. Copyright ©2014 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.