Phoenix - AZ housing market
The Phoenix metro has a typical home value of $447,054, down 1.7% from a year ago. Homes sell in 34 days on average, a balanced market. 33% of listings have had a price cut. Data from Zillow Research, updated monthly.
How to read this data
The typical home value ($447,054) 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 1.7% over the past year. A home worth $454,785 last year is now worth roughly $447,054.
The median sale price , what homes actually close for , is $451,014. 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 34 days before going pending. Shorter = seller's market; longer = buyer's market.
About 33.3% of current listings have had at least one price cut. High price-cut shares signal sellers are adjusting expectations downward.
Roughly 6,715 new listings hit the market each month in Phoenix - AZ. There are currently 25,788 homes for sale, down 1.7% from a year ago.
The typical monthly rent in Phoenix - AZ is $1,733, down 0.1% year over year. For investors, the price-to-rent ratio here is roughly 21x annual rent.
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.
Other metros in AZ
| Metro | Home value | 1-yr change | Days on market |
|---|---|---|---|
| Tucson - AZ | $343,107 | -2.1% | 35.0d |