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Featured local agent — Phoenix, AZ
Sarah Mitchell
Compass Real Estate · Phoenix, AZ
“Your trusted relocation specialist since 2009. 350+ homes sold. Zero-pressure, data-first approach.”
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Phoenix, AZ Housing Market & Real Estate
Housing market overview · Updated monthly ·
$467,500median sale price
How is the Phoenix, AZ housing market right now?
The median home sale price in Phoenix, AZ is $467,500, up 3.9% year-over-year. Homes sell in an average of 52 days with 5,550 active listings. The market is currently a balanced market. (Source: Redfin monthly MLS data, as of May 2026 — the most recent Redfin release; Redfin publishes each month's data on a ~6-week lag.)
Is Phoenix a buyer's or seller's market?
Phoenix, AZ is currently a balanced market, based on 3.6 months of supply and homes selling in about 52 days. How we determine this →
Homes sold
1,535
Last 12 weeks
Days on market
52
Average pace
Active listings
5,550
3.6 months supply
Sale-to-list
97.9%
Below asking
What does the Phoenix housing market data show?
| Metric | Value |
|---|---|
| Median sale price | $467,500 |
| Median list price | $470,000 |
| Year-over-year price change | +3.9% |
| Average days on market | 52 days |
| Active inventory | 5,550 listings |
| Months of supply | 3.6 months |
| Sale-to-list price ratio | 97.9% |
| Median price per sq ft | $279/sq ft |
| Homes sold (latest month) | 1,535 |
| New listings (latest month) | 1,847 |
| Listings with a price cut | 34.1% |
| Market condition | Balanced market |
Source: Redfin · Updated monthly
How much do homes cost in Phoenix by property type?
How the Phoenix, AZ market breaks down across single-family homes, condos, and townhouses.
| Property type | Median price | Price / sq ft | Homes sold | Days on market |
|---|---|---|---|---|
| Single-family | $490,000 | $280/sq ft | 1,236 | 48 days |
| Condo / Co-op | $290,000 | $288/sq ft | 109 | 96 days |
| Townhouse | $329,000 | $268/sq ft | 172 | 70 days |
Source: Redfin · Updated monthly
The Phoenix housing market is currently classified as a balanced market with a median sale price of $467,500. Prices have risen 3.9% compared to last year, with homes spending an average of 52 days on market, indicating 3.6 months of inventory.With limited inventory, homes sell quickly and buyers should be prepared to act decisively and competitively to secure a property.The price-to-income ratio of 5.3x provides context for how home values compare to local earning capacity.
Homes for sale in Phoenix
There are currently 5,550 homes listed for sale in Phoenix, Arizona. The median listing price is $470K.
Active listings
5,550
Homes on market
Median list price
$470K
Avg. days on market
52
Days until sale
New this week
1,847
Newly listed
Who lives in Phoenix?
Population
1,624,832
Median income
$77,041/yr
Median age
34.8 years
Owner-occupied
57.1%
College grads
32.3%
Avg commute
25.7 min
Source: U.S. Census Bureau ACS
What are homes worth in Phoenix?
Zillow home value
$410,222
Zillow rent index
$1,569/mo
Price-to-rent ratio
21.8x
Price-to-income
5.3x
Source: Zillow Research
What is it like to live in Phoenix?
Phoenix is a community of approximately 1625K residents with a median age of 34.8 years.The median household income is $77,041, which reflects a relatively affluent area with strong earning potential. 32.3% of residents hold a bachelor's degree or higher, showing a mixed educational demographic.
Homeownership rates are at 57.1%, showing a blend of owner and renter-occupied properties. The average commute time is 25.7 minutes, which makes this an excellent choice for those seeking short commutes to employment centers.Overall, Phoenix offers a balanced lifestyle with accessible home values relative to local income levels.
Which public schools serve Phoenix?
50 schools tracked · 74,607 students
The largest public schools serving Phoenix, AZ by enrollment, drawn from the National Center for Education Statistics. School quality is a commonly cited factor in home-buying decisions — these are the campuses families in this area are most likely to encounter.
Arizona Virtual Academy
Grades K-12 · 4,499 students
Trevor Browne High School
Grades 9-12 · 2,803 students
Desert Vista High School
Grades 9-12 · 2,802 students
Maryvale High School
Grades 9-12 · 2,685 students
Pinnacle High School
Grades 7-12 · 2,501 students
Sunnyslope High School
Grades 9-12 · 2,270 students
Camelback High School
Grades 9-12 · 2,191 students
South Mountain High School
Grades 9-12 · 2,171 students
Source: National Center for Education Statistics, Common Core of Data directory. Updated annually. Ratings and test scores are not currently displayed.
Which cities are near Phoenix, AZ?
Want a head-to-head view? Compare Phoenix side-by-side with any other U.S. city using our market-comparison tool.
Is Phoenix a good real estate investment market?
For investors evaluating Phoenix, the price-to-rent ratio of 21.8x indicates higher purchase prices relative to rental income, typical of appreciation-focused markets. The market has appreciated 3.9% year-over-year, reflecting ongoing demand and value growth.Use our rent vs. buy calculator to analyze whether owning or renting makes more financial sense based on Phoenix's current market conditions and your specific situation. Estimate your monthly payment with the mortgage calculator using Phoenix's median home price.
Frequently asked questions
What is the average home price in Phoenix?
The median home sale price in Phoenix is $467,500, up 3.9% from last year.
How long do homes stay on market in Phoenix?
Homes typically spend 52 days on market before going under contract.
What is the median income in Phoenix?
The median household income is $77,041 per year.
Is Phoenix a buyer's or seller's market?
With 3.6 months of supply, Phoenix is currently a balanced market.
What is the Zillow home value estimate for Phoenix?
The Zillow Home Value Index (ZHVI) for Phoenix is $410,222, representing the typical home value in the area.
What is the median condo price in Phoenix?
The median condo/co-op sale price in Phoenix, AZ is $290,000, compared to $490,000 for a single-family home, based on the latest Redfin data.
How much does a single-family home cost in Phoenix?
The median single-family home price in Phoenix, AZ is $490,000 (about $280 per square foot).
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