Phoenix, AZ Home Values & Market Trends

Real estate market trends reflect that there have been 20,031 transactions over the past year in Phoenix. The median value for residential home transactions that occurred over the previous year is $432,115.12. The number of current listings in Phoenix is 111, and the percentage of properties for sale in the city is 111.00%. Phoenix, AZ currently has 460 properties in foreclosure, 7 bank owned properties, 453 properties headed for auction, and 111 properties for sale.

Phoenix, AZ Real Estate Market Overview

ZipMedian Est. ValueZipMedian Est. Value
85016

$ 930,048

$ 401/sqft

85043

$ 488,772

$ 178/sqft

85020

$ 553,971

$ 342/sqft

85009

$ 342,450

$ 258/sqft

85018

$ 1,074,423

$ 481/sqft

85037

$ 485,500

$ 258/sqft

85022

$ 642,999

$ 300/sqft

85023

$ 432,346

$ 299/sqft

85008

$ 687,500

$ 383/sqft

85048

$ 939,613

$ 353/sqft

85086

$ 520,000

$ 332/sqft

85021

$ 492,798

$ 305/sqft

85050

$ 1,091,784

$ 338/sqft

85042

$ 683,750

$ 279/sqft

85029

$ 392,000

$ 207/sqft

85013

$ 383,708

$ 242/sqft

85040

$ 432,500

$ 251/sqft

85015

$ 320,256

$ 234/sqft

85085

$ 760,867

$ 291/sqft

85053

$ 521,371

$ 288/sqft

85027

$ 415,000

$ 290/sqft

85033

$ 434,000

$ 236/sqft

85024

$ 815,000

$ 218/sqft

85035

$ 355,652

$ 208/sqft

85014

$ 739,977

$ 372/sqft

85044

$ 214,473

$ 317/sqft

85007

$ 439,000

$ 532/sqft

85004

$ 497,185

$ 302/sqft

85012

$ 518,960

$ 317/sqft

85054

$ 978,000

$ 426/sqft

85032

$ 442,740

$ 278/sqft

85017

$ 213,954

$ 224/sqft

85051

$ 250,721

$ 248/sqft

85003

$ --

$ --

85083

$ 593,820

$ 279/sqft

85034

$ --

$ --

85028

$ 869,000

$ 391/sqft

85031

$ --

$ --

85045

$ 489,850

$ 250/sqft

85019

$ --

$ --

85041

$ 607,000

$ 281/sqft

85006

$ --

$ --

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Housing Market Summary for Phoenix, AZ

Jun 2023May 2024Change
Median Listing Price$575K$493.5K-14.17%
Median Sold Price$420.2K$445K5.90%
Homes For Sale1,081106-90.19%
Homes Sold14,47713,016-10.09%
Price
$/Sqft
Homes For Sale
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Price Per Square Foot

On an average, Single Family homes cost $33 more per sqft than Condos. In comparison with sales price/sqft last week, list price/sqft of Single Family homes increased by 1.93% whereas, list price/sqft of Condos increased by 9.38%.

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Browse Homes in Phoenix, AZ

Phoenix home values range from $22,973 to $53,619,712. The median estimated value of a home in Phoenix is $432,115.12. The median list price of a home is 540,000, and the total count of properties in the city is 385,765.

Foreclosure
There are 42 zips within Phoenix, AZ; within these zips, the median estimated home value for homes in foreclosure ranges from $1,042,981 in 85009 to the lowest value of $134,830 in 85009. Foreclosure homes account for 0.00% of properties in Phoenix, AZ with 85009 containing 32 foreclosures, the highest number of foreclosure properties in a single zip.
  • Pre-Foreclosure
    Pre-foreclosure homes account for 0% of all residential properties in Phoenix, AZ with $[pre-foreclosures-highest-count-region] containing 0 pre-foreclosures, the highest number of pre-foreclosure properties in a single zip. There are 42 zips within Phoenix, AZ; of those zips, the estimated home value for pre-foreclosure homes ranges from $0 in N/A to the lowest home value of $0 in $[pre-foreclosures-lowest-avm-region].
  • Bank Owned
    The median estimated home value of bank owned homes (REO properties) in Phoenix, AZ ranges from the highest value of $387,566 in 85029 to the lowest value of $177,207 in 85033. Bank owned homes and properties account for 0.00% of properties in Phoenix, AZ. There are 42 zips within Phoenix, AZ; 85033 containing 2 REO properties, has the highest number of bank owned properties in a single zip.
  • Auctions
    85009 has 31 auction properties, the highest number of properties going to auction in a single zip in the state of Phoenix, AZ. Auction homes and other auction properties account for 0.12% of all properties in Phoenix, AZ. There are 42 zips within Phoenix, AZ; of those zips, the median estimated home value for homes going to auction ranges from $662,306 in 85003 to the lowest value of $134,830 in 85003.
Homes for Sale
Homes and properties that are actively listed for sale account for 0.03% of residential properties in Phoenix, AZ with 85016 containing 10 homes for sale, the highest number of listed properties in a single zip. There are 42 zips within Phoenix, AZ; homes for sale in those zips, have a range of median values from $978,000 in 85054 to the lowest value of $163,939 in 85021.
    Sold Homes
    The median value for recently sold homes ranges from $2,767,325 in 85083 to the lowest price of $24,290 in 85083. There are 42 zips within Phoenix, AZ. 85032 has 823 recently sold homes, the highest number of recently sold properties in a single zip. Recently sold homes and properties account for 3.75% of properties in Phoenix, AZ.

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      Guide for Phoenix, AZ

      Market Reports
      Phoenix Property Market Cools: Average Sale Price Per Square Foot Falls to $286 in April 2024
      Market Reports
      Real Estate Trends in Phoenix and Surrounding Cities in 2023
      Arizona
      Tempe Real Estate Rises to $597K Average Amid Sales Dip, Outpacing Nearby Phoenix
      Market Reports
      Tempe Real Estate Values Soar to $597k – May 2024
      See More Articles
      Phoenix Property Market Cools: Average Sale Price Per Square Foot Falls to $286 in April 2024
      Market Reports|posted 17 May 2024

      This article provides a detailed overview of the Phoenix real estate market, including trends in prices and sales, comparisons with neighboring cities, and insights for buyers, sellers, and investors.

      Real Estate Trends in Phoenix and Surrounding Cities in 2023
      Market Reports|posted 12 February 2024

      Market Report of Phoenix, AZ – December 2022-2023

      Tempe Real Estate Rises to $597K Average Amid Sales Dip, Outpacing Nearby Phoenix
      Arizona|posted 25 June 2024

      The Tempe, AZ real estate market showed strong growth from June 2023-May 2024, with average property values reaching $597,000.

      Tempe Real Estate Values Soar to $597k – May 2024
      Market Reports|posted 4 June 2024

      Real estate in Tempe, AZ sees significant growth in property values but dip in sales price. Despite general rise in values, complex market conditions require careful analysis for potential investors and homebuyers.

      Recently Listed Homes Phoenix, AZ

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