Phoenix Arizona Real Estate Market Report — September 2026

Phoenix Arizona Real Estate has moved into a full buyer market in September 2026. Median sale price is $445,000, active inventory has climbed past 5,900 homes across a city of 1,673,122 residents, and days on market widened to 62 days… the longest stretch since early 2024.

Roughly 28 percent of active Phoenix homes for sale have taken a price cut in the past 30 days. Months of supply has crossed 2.4, sale-to-list slipped to 96.6%, and transaction volume is still running 62 percent ahead of August 2025. The Phoenix market is moving in volume terms even as price-per-transaction softens.

Buyers now have leverage they have not had since 2019. Sellers pricing 2 percent too high in September 2026 sit 100+ days and chase the market down 6 to 8 percent by October. A dedicated full-time agent/broker that specializes in Phoenix is the single largest variable in whether a transaction closes at the seller’s number or the market’s.

Moving to Phoenix from California, Washington, or Texas?

Moving to Phoenix from another state? Census data shows 234,900 people relocated to Arizona from another state in a single year, and the ten largest origin states were California, Washington, Texas, Colorado, Illinois, North Carolina, Ohio, Michigan, New Mexico, and Utah.

If you are relocating to Phoenix from California, you are trading Prop 13 property-tax reassessment on your next home and a 40-minute Bay Area commute for a $445,000 median, 1,673,122 neighbors, and 8 patrol precincts covering 519 square miles. If you are relocating from Washington or Illinois, the number that matters is Arizona’s 2.5% flat state income tax and the absence of the winter cost stack.

Out-of-state buyers lose the most money here because they cannot see the streets, the school-boundary line, or the specific urban village that changes value block to block. A dedicated full-time agent/broker that specializes in Phoenix tours on video and sends off-market Phoenix homes for sale before they reach the national portals.

Phoenix Homes for Sale… September 2026 Market Data

Phoenix homes for sale data below is compiled from local closed-sale records for September 2026, blended with active-listing counts at time of publication.

How much are Phoenix homes for sale right now?

Phoenix homes for sale carry a $442,000 median in September 2026, down 6.0 percent year over year, with 65 days on market and 29 percent of active listings showing a price cut in the past 30 days. That combination is the clearest buyer-leverage signal Phoenix Arizona Real Estate has produced since 2019.

Phoenix Homes 12-Month Price Trend

Phoenix Arizona Real Estate median sale price for single-family homes, rolling 12 months ending September 2026. Trend shows steady softening from spring 2026 highs into a full buyer market by late summer.

Phoenix New Construction… September 2026 Market Data

New construction closings inside Phoenix city limits for September 2026, drawn from active builder communities and closed-sale comps.

Builder pricing has held far steadier than resale in 2026. Rate buy-downs and closing-cost credits are absorbing most of the pressure that is showing up as price cuts on the resale side, which is why the new-construction median is UP 2.5 percent year over year while the citywide resale median is down 6.0 percent over the same window.

Phoenix New Construction 12-Month Price Trend

Phoenix new-construction median sale price, rolling 12 months ending September 2026. Trend shows steady appreciation as builder incentives hold effective pricing firmer than the resale market.

Phoenix AZ Condos for Sale… September 2026 Market Data

Phoenix AZ condos for sale data for September 2026, compiled from local closed-sale records.

Where to find Phoenix AZ condos for sale

Phoenix AZ condos for sale concentrate in Biltmore, Camelback Corridor, Downtown, and dozens of garden-style suburban complexes. Softer condo demand (75 days on market, 95.6% sale-to-list) is producing the deepest condo buyer leverage of the 2026 cycle.

Phoenix Condos 12-Month Price Trend

Phoenix AZ condos for sale median list price, rolling 12 months ending September 2026. Trend shows the steepest softening of the three segments as attached-housing demand lags single-family.

Phoenix Arizona Real Estate Prices & Volume… September 2026

Phoenix closed about 2,650 single-family resales in September 2026. Transaction volume dipped from July’s 2,780 as the summer heat pulled buyer traffic off the tour circuit, but the count still runs roughly 62 percent ahead of August 2025. Phoenix homes for sale continue to move in volume terms even as price-per-transaction softens.

The median sale price of $442,000 reflects continued moderation versus 2025 highs, while average sale prices near $594,000 show how much the upper end of the Phoenix metro real estate market… Biltmore, Arcadia, Paradise Valley Village, North Phoenix luxury… continues to pull the citywide average up. Price-per-square-foot slipped to $279, confirming continued moderation across the board.

Inventory tells the most important Phoenix story for September. Active listings climbed past 6,100, up 18.9 percent year over year, giving Phoenix homes for sale buyers the deepest selection they have had since 2019. Days on market widened to 65 days, sale-to-list slipped to 96.3 percent, and months of supply crossed 2.6.

Roughly 29 percent of active Phoenix listings have taken a price reduction in the past 30 days, and about 32 percent of homes for sale citywide have been on market longer than 60 days. This is not a summer-slowdown blip… this is a structural full buyer market. Well-priced, well-presented Phoenix homes for sale still move in 30 to 45 days. Overpriced ones now sit 100+ days and chase the market down 6 to 8 percent by November.

Phoenix Arizona Real Estate By Zip Code… 34+ Zips

Phoenix spans more than 30 active residential zip codes, and the spread between them is enormous. The most expensive Phoenix zips trade above $1 million median… the most affordable trade below $325,000. Here is how the major Phoenix zip clusters break out for September 2026:

• 85018 (Arcadia / east Camelback corridor): Median sale price $1.45M… slightly down YoY. The premier address in central Phoenix, anchored by Camelback Mountain views and walkable to Old Town Scottsdale.
• 85016 (Biltmore / Camelback Corridor): Median sale price $815,000… flat YoY. High-rise condo demand stays steady, single-family stock near Biltmore Estates is supply-constrained.
• 85028 (Paradise Valley Village): Median $745,000… down 2% YoY. Family corridor with Madison and PVUSD schools, mountain-edge lots.
• 85020 / 85022 (North Mountain / North Central): Median $560,000 to $620,000. Postwar ranches and pocket-luxury infill near Piestewa Peak.
• 85044 / 85045 / 85048 (Ahwatukee Foothills): Median $650,000… Phoenix’s southernmost urban village, Kyrene and Tempe Union schools, separate market identity. (See the dedicated Ahwatukee page for full detail.)
• 85040 / 85041 / 85042 (South Mountain / Laveen): Median $415,000 to $445,000. New-construction-heavy, fast-growing families, convenient I-10 and SR-202 access.
• 85050 / 85054 (Desert Ridge / North Phoenix): Median $715,000. TSMC-driven demand, master-planned communities, premium PVUSD elementary feeders.
• 85083 / 85085 / 85086 (Deer Valley / North Gateway): Median $575,000. Strong Deer Valley Unified district, newer subdivisions, Loop 101 and I-17 access.
• 85003 / 85004 / 85006 (Downtown / Encanto / Central City): Median $485,000 for SFR, condos run $325,000 to $650,000+. Walkable urban-core demand.
• 85031 / 85033 / 85037 (Maryvale / West Phoenix): Median $345,000 to $375,000. Phoenix’s most affordable urban village, first-time buyer entry point.

Phoenix Arizona Real Estate Neighborhoods & Subdivisions

Phoenix is officially organized into 15 urban villages, each with its own planning committee, character, and price tier. Buyers and sellers don’t think “Phoenix” as one market… they think Biltmore, Arcadia, Desert Ridge, Ahwatukee, Laveen, Maryvale. Below are the verified flagship neighborhoods and submarkets inside Phoenix city limits. Each card reflects current zip alignment, real MLS-published address ranges, and current price bands for September 2026.

All neighborhoods above are verified inside Phoenix city limits with real MLS-published addresses in the noted zip codes. Phoenix also contains additional named subdivisions and historic districts not listed here (Willo, Coronado, Roosevelt, F.Q. Story, Garfield, Encanto-Palmcroft, Story, Yaple, North Encanto, Country Club Park, and dozens more). Reach out for neighborhood-specific market data on any Phoenix address.

Phoenix Arizona Real Estate Schools & Districts

Phoenix is served by more than 30 separate school districts because city limits cut across Madison, Phoenix Elementary, Osborn, Washington, Roosevelt, Alhambra, Cartwright, Creighton, Murphy, Balsz, Laveen, Pendergast, Isaac, Paradise Valley Unified, and Deer Valley Unified feeder zones.

Per the official Arizona Department of Education FY25 A-F Letter Grades (released April 15, 2026), Madison Elementary District earned a B district grade and Phoenix Union High School District… the largest high school district serving central and south Phoenix… also earned a B district grade.

Two additional high-performing districts serve large portions of the city: Deer Valley Unified District (A district grade, 41 schools) covers North Phoenix and Desert Ridge, and Paradise Valley Unified District (B district grade, 42 schools) covers Paradise Valley Village and the northeast Phoenix corridor.

Madison Elementary District… B-Rated District

Madison Elementary District is one of the most sought-after K-8 districts in the Phoenix core, serving the Madison Heights / North Central Phoenix corridor and adjacent to the Biltmore and Arcadia trade areas. Per ADE FY25 official data, four of Madison’s eight schools earned an A letter grade: Madison Traditional Academy (87.27 points), Madison Rose Lane (86.81), Madison Heights Elementary (86.51), and Madison Richard Simis (84.12). Parents relocating into 85016, 85018, and 85020 zip codes routinely target Madison schools as part of their housing search… and that demand directly supports single-family prices in those zips.

Phoenix Union High School District… B-Rated District

Phoenix Union High School District is the largest high school district in Arizona by enrollment and serves central, west, and south Phoenix. The district earned a B LEA grade in FY25 (20 schools rated). Within the district, four high schools earned an A letter grade: Phoenix Union Bioscience High School (88.47 points), Franklin Police and Fire High School (86.64), Metro Tech High School (83.19), and Wilson College Preparatory (82.02). North Phoenix and Desert Ridge buyers typically feed into Paradise Valley Unified or Deer Valley Unified high schools, both of which carry strong individual school grades highlighted in the cards below.

Per ADE FY25 official data, Madison Traditional Academy earned an A letter grade with 87.27 total points, the highest score in the Madison district. Application-based traditional academy program with strong proficiency and growth measures across reading and math. Highly sought by families relocating into the 85016 and 85018 zip codes.