4-week rolling average · Data through March 12, 2026 · ZIP 85028
The Paradise Valley area of Phoenix (zip 85028) is running hot as of March 2026, with a market temperature score of 77 out of 100 and a median asking price of $745,000 for single-family homes. Active inventory sits at 138 homes, and the median days on market is 26, suggesting homes are moving at a steady pace. At $386.28 per square foot, pricing reflects the premium character of this Phoenix submarket.
| Beds | Asking Price | Rent |
|---|---|---|
| 1BR | $355K | $2K/mo |
| 2BR | $445K | $2K/mo |
| 3BR | $639K | $3K/mo |
| 4BR | $850K | $4K/mo |
| 5BR | $1.27M | $4K/mo |
| 6BR | $3.60M | $3K/mo |
With only 138 active listings and a hot market temperature score of 77, sellers are operating in a low-supply environment that supports confident listing strategies. The median asking price of $745,000 and a median of 26 days on market indicate that well-priced homes are attracting attention relatively quickly.
Buyers in 85028 should be prepared for a competitive search given that inventory is limited to 138 active listings and the market is rated hot. Asking prices range from $355,000 for a one-bedroom up to $3,599,000 for a six-bedroom, so clarifying your bedroom needs early will help focus your budget and search.
With a median asking price of $745,000 and a median rent of $3,000 per month, investors should carefully model carrying costs before committing. Rental inventory is tight at just 46 units, which may support stable rental demand, though rent by bedroom varies widely from $999 for a studio to $4,000 for a five-bedroom.
The 30-year fixed mortgage rate stands at 6.00% and the 15-year fixed rate is at 5.43% as of this data period, meaningfully affecting monthly payment calculations on a $745,000 asking price. Buyers who can qualify for a 15-year term would benefit from the lower rate, though the higher monthly principal payments require careful cash-flow planning.
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Market intelligence by FarmPosts