April/2026 85028 Market Report: Why the Sheaborhood Is So Strong

The April/2026 85028 market report shows that the Sheaborhood is holding strong, and the numbers are telling a pretty clear story.

There’s a question that comes up all the time when I’m in the neighborhood, whether it’s while walking the block or running into neighbors at Bashas or Fry’s down the road. How’s The Market In The Sheaborhood right now?

 

The big picture in this 85028 market report

Let’s keep this simple. Two numbers tell the story right now, and both are encouraging for homeowners in 85028.

First, the median sales price is $760,000. That is where the market stands right now in 2026. In 2025, the highest median sales price reached $755,000. That tells us the market has moved a little higher, and it has stayed strong.

Here’s the quick snapshot:

Median sales price, 2026 current: $760,000
Median sales price, 2025 high: $755,000

That alone doesn’t tell you everything, but it gives you a solid starting point. Prices are holding. They’re slightly ahead of last year’s high. And when you pair that with the demand side of the market, the picture gets a lot more interesting.

Median price is holding where sellers want to see it

A lot of homeowners don’t need fireworks. They want to know if values are slipping, staying flat, or moving in the right direction.

Right now, 85028 is doing what you want a neighborhood to do. It’s holding its value. Four months at the same median sales price shows some serious strength, especially in this market. It also suggests buyers are still willing to step up for homes in this zip code when the right property comes along.

This part matters more than people think.

A market doesn’t have to be wild to be healthy. Sometimes the healthiest market is one that stays steady, keeps demand in the mix, and doesn’t give up its gains.

The contract ratio is where this 85028 Market Report really separates itself

If the median price tells you where values are, the contract ratio helps show you how much demand is out there right now.

The contract ratio is simple. It compares the number of homes that are under contract to the number of homes that are currently on the market. In 85028, that number currently sits at 57.4.

That’s a strong number for the market we’re in.

A lot of people look only at price and miss this piece. But contract ratio is one of the clearest ways to see if buyers are active or if listings are sitting. When you get up into the upper 50s, you’re looking at an area where buyers are engaged and homes are moving into contract at a healthy pace.

A 57.4 contract ratio tells you 85028 isn’t sitting on the sidelines. Buyers are still showing up here.

And here’s why that matters. A neighborhood can have a decent median price and still feel sluggish if listings pile up. That’s not what this report shows. In the Sheaborhood, the demand side is still doing real work.

That doesn’t mean every home will sell instantly or every seller can name any price they want. That’s never how a good market report should be read. What it does mean is that 85028 is outperforming expectations compared with many nearby areas, and that gives sellers something solid to work with.

How 85028 stacks up against nearby zip codes

This is where the story gets pretty clear.

When you compare 85028 to nearby contiguous zip codes, the Sheaborhood isn’t merely doing fine. It’s leading the pack by a good margin. The next best numbers on this list are in the 30s. One luxury area is way down in the teens.

Nearby zip code comparison

Paradise Valley is the toughest example in the group. It has 295 homes on the market and only 45 under contract. That’s a tough market for sellers. There are simply too many homes chasing too few buyers at the moment.

Compare that with 85028, and you can see why this neighborhood is getting so much attention. It isn’t barely ahead. It’s meaningfully ahead.

85032 is at 38.1, which is respectable, but still well behind 85028. The Magic Zip Code, 85254, is at 35.3. Biltmore sits at 33.6. Arcadia comes in at 26.7. Then 85020, just to the west, is at 21.6.

When one zip code is pushing 57.4 and the surrounding numbers are mostly in the 20s and 30s, that tells you demand is concentrating in one place more than the others.

That doesn’t mean those other neighborhoods aren’t good places to live. It means 85028 is the stronger market right now by this measure, and it’s not even close.

Why buyers keep circling back to the Sheaborhood

I’ve watched 85028 for almost 30 years, and one thing is clear right now: this neighborhood is no longer Phoenix’s best-kept secret.

The market numbers back that up. So does the buyer activity.

There are a lot of buyers who want to live in this area. That’s not theory, I’m seeing it everyday in the number of online and phone consultations I’m having with Buyers on a daily basis.  So, why are some homes languishing on the market, you ask? The issue isn’t a lack of interest. The issue is that some of the homes currently on the market aren’t lining up with what buyers want. That’s an important distinction.

If you’re a homeowner, here’s the trade-off. You may look around and think, “There are already a few homes for sale, so maybe I should wait.” But if those listings aren’t matching buyer needs, a well-positioned/well-marketed home can still stand out.

That’s where some people get stuck.

They assume inventory alone tells the story. It doesn’t. The better question is whether the available homes are meeting the market. In 85028, there are buyers ready to make a move, but they want the right house, in the right condition, at the right price.

That helps explain why the Sheaborhood has become one of the most talked-about neighborhoods in this part of the Valley. People who live here tend to love living here. Buyers are paying attention. And the data says that attention is turning into contracts more often here than in nearby zip codes.

If you’re thinking about selling in the next 6 to 12 months

This 85028 market report has a pretty practical message for homeowners.

If you’ve been considering a sale sometime in the next six to twelve months, this is a good time to start the conversation. Not because you need to rush. You don’t. But because strong demand paired with limited buyer-friendly choices can create an opening for the right seller.

There are people who want to be in this area now, and I’m talking to them everyday. Many are waiting because what’s available doesn’t fit what they’re looking for. That means a home that checks the right boxes may get attention faster than you think.

If you want to get a sense of value before making any decisions, the home value page for Phoenix sellers is a good starting point. Or even better, for a direct conversation, you can reach me at (602) 957-1583 or book a 15 minute call here. No pressure, just information.

What this means for 85028 going forward

No one can promise what every month will look like. Real estate doesn’t work that way. But this 85028 Market Report for April/2026 gives homeowners and buyers something useful, and that’s clarity.

The median sales price in 85028 is holding at $760,000. The contract ratio is 57.4, which is stronger than the surrounding zip codes by a healthy margin. And buyer demand is still there, even if some current listings aren’t the right fit.

If you were looking for a simple read on the Sheaborhood, here it is: 85028 is looking good. That’s not hype. That’s what the numbers are saying right now