Phoenix - AZ housing market

The typical home value ($445,924) is the Zillow Home Value Index for the Phoenix - AZ metro area: a smoothed, seasonally adjusted estimate of the typical value for middle-tier homes (33rd to 67th percentile) across single-family and condo properties.

Prices are down 1.5% over the past year. A home worth $452,715 last year is now worth roughly $445,924.

The median sale price, what homes actually close for, is $448,321. Homes are selling at 97.9% of list price, meaning buyers have room to negotiate.

Homes listed in Phoenix - AZ sit on the market for roughly 38 days before going pending. Shorter = seller's market; longer = buyer's market.

About 32.4% of current listings have had at least one price cut. High price-cut shares signal sellers are adjusting expectations downward.

Roughly 6,103 new listings hit the market each month in Phoenix - AZ. There are currently 24,725 homes for sale, down 2.3% from a year ago.

The typical monthly rent in Phoenix - AZ is $1,727, up 0.4% year over year. On the Rent vs Buy Index that is a price-to-rent ratio of 21.5x, renting territory (#34 of 195 metros). The mortgage on a typical home here, 20% down at today's 6.66% 30-year rate, runs about $2,293 a month in principal and interest, $566 more than renting before taxes, insurance and upkeep. The two break even at a 4.12% rate.

What's not on this page

This is market-level data, not property-level. We don't list individual homes for sale. For that, go to Zillow, Redfin, or your local MLS.

Data: Zillow Research (ZHVI and market indicators), refreshed monthly at the source. This page was rebuilt September 2026. Methodology →