Phoenix sellers are cutting prices, but some parts still move fast
Realtor.com counted price reductions on 29.0% of Phoenix-Mesa-Chandler listings in September 2026. That is the number every Phoenix seller needs to sit with right now. Pricing your home correctly from day one matters more than it did a year ago.
Realtor.com also put the median home price for Phoenix-Mesa-Chandler at $475,000 in September 2026. Mortgage rates topped 7% that same month, according to Realtor.com. Those two things together are putting real pressure on what buyers can afford.
The Real Estate Data Aggregator counted 1,717 homes sold across Phoenix main in the three months ending August 31, 2026. That is down just 0.5% from the same period in 2025. Sales held nearly flat even as conditions shifted.
Where things still move fast
Not every part of Phoenix is slow. The Real Estate Data Aggregator shows some ZIP codes where buyers are still moving quickly. In 85019, 33.3% of homes went under contract within two weeks of listing. In 85009, another 33.3% did the same. In 85028, 34.7% went under contract that fast, the highest share in Phoenix main.
Supply tells the same story. The Real Estate Data Aggregator put months of supply in 85053 at just 2.8 months for the three months ending August 31, 2026. That is down 0.9 months from the same period in 2025. In 85027, supply sat at 2.9 months. Those are the tightest readings in Phoenix main.
Where buyers have more room
On the other end, 85016 had 7.1 months of supply, according to the Real Estate Data Aggregator. Homes there sat a median 80 days before selling. That is the longest wait in Phoenix main. In 85004, the median was 127 days, up 30 days from a year before.
In 85021, months of supply climbed to 6.3, up 1 full month from 2025. Prices there rose 13.5% to $590,000, but fewer homes sold. Buyers in that ZIP have more choices and more time.
| 85053 (tight) | 85027 (tight) | 85016 (loose) | 85004 (loose) | |
|---|---|---|---|---|
| Months of supply | 2.8 | 2.9 | 7.1 | 7.2 |
| Median days on market | 41 | 54 | 80 | 127 |
| Under contract in 2 weeks | 30.7% | 27.5% | 18.6% | 21.1% |
| Median sale price | $380,000 | $372,500 | $550,000 | $437,500 |
Prices dipped in most ZIP codes
Most of Phoenix main saw prices slip a little. The Real Estate Data Aggregator shows 85013 down 13.4% to $485,000. That is the steepest drop in Phoenix main. ZIP 85020 fell 9.5% to $389,000. ZIP 85022 dropped 8.1% to $444,750.
A few spots bucked that. ZIP 85021 rose 13.5% to $590,000. ZIP 85007 climbed 10.2% to $496,000. ZIP 85032 gained 4.6% to $480,000. Those gains came even as the broader area softened.
The national picture adds context
U.S. house prices rose 2.6% from July 2025 to July 2026, according to the Federal Housing Finance Agency. Month to month, they edged up 0.3% in July 2026. Phoenix's ZIP-level dips sit against a backdrop of modest national gains.
The US Census reported the national median new-home sale price at $393,700 in August 2026. New single-family sales ran at a seasonally adjusted annual rate of 684,000 that month. Phoenix sellers are competing not just with each other, but with new construction priced near those levels.
- Price reductions are real and widespread across Phoenix.
- But the three months ending August 31, 2026 show a split market.
- ZIP codes like 85053 and 85027 are still tight, with under 3 months of supply and homes moving in 41 to 54 days.
- Others like 85016 and 85004 are giving buyers more time and more leverage.
- Where your home sits in that picture depends on your specific street, not the headline number.
One street can read very differently from the ZIP code around it. These numbers cover the three months ending August 31, 2026, and your block may tell a different story. I am happy to pull the details for your address specifically.
Your next step
(602) 342-8006Text me your address and I will send back where your Phoenix home sits against what actually sold nearby, including which side of the price-cut line your ZIP landed on. Takes a day, costs nothing.
Text me- Real Estate Data Aggregator numbers for ZIPs 85053, 85023, 85022, 85032, 85027, 85029, 85020, 85028, 85021, 85051, 85016, 85018, 85015, 85019, 85017, 85013, 85009, 85007, 85041 and 85004, the three months ending August 31, 2026, compared with the same months of 2025. Real Estate Data Aggregator last updated them on Oct 7, 2026.
- Realtor.com: September 2026 Monthly Housing Trends: Price Cuts Hit 4-Year Highs as Mortgage Rates Top 7%, Sep 30, 2026
- Realtor.com: August 2026 Rental Report: Rents Fall for 37th Straight Month as Concessions Give Renters More Leverage, Sep 17, 2026
- FRED: New Privately-Owned Housing Units Started: Total Units, read Oct 11, 2026
- US Census: New Residential Sales Press Release, read Oct 10, 2026
- Redfin: Mortgage Rates Tick Up Even as the Odds of a Fed Rate Hike Decline, Oct 5, 2026
- Federal Housing Finance Agency: FHFA House Price Index® Up 0.3 Percent in July; Up 2.6 Percent from Last Year | FHFA, Sep 29, 2026