Phoenix - AZ housing market
The Phoenix metro has a typical home value of $448,352, down 1.7% from a year ago. Homes sell in 31 days on average - a balanced market. 34% of listings have had a price cut. Data from Zillow Research, updated monthly.
How to read this data
The typical home value ($448,352) 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 $456,106 last year is now worth roughly $448,352.
The median sale price , what homes actually close for , is $453,403. 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 31 days before going pending. Shorter = seller's market; longer = buyer's market.
About 34.1% of current listings have had at least one price cut. High price-cut shares signal sellers are adjusting expectations downward.
Roughly 7,354 new listings hit the market each month in Phoenix - AZ. There are currently 26,582 homes for sale, up 0.9% from a year ago.
The typical monthly rent in Phoenix - AZ is $1,742, down 0.5% 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 | $343,580 | -2.1% | 33.0d |