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Market Intelligence · AZ / Phoenix

Phoenix, AZ 85003 Housing Market

The typical home value in Phoenix, AZ 85003 is $575,316, up 2.0% over the past year as of September 2026. Sellers listed at a median of $738,700, and homes took a median of 90 days to go under contract.

Updated September 2026Median value$575K

The median home value in Phoenix, AZ 85003 is $575K as of September 2026, up 2.0% year over year, according to Zillow ZHVI. For a read on your own home, start with a free consultation: a licensed local pro will walk you through your numbers and your options, with no obligation.

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Typical 85003 range

$529K to $621K

This is an automated estimate, not an appraisal. Actual value is determined by current market conditions and professional evaluation. It is provided for informational purposes only and is not an offer to buy or a promise of value.

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12-month value trend

+2.0% over 12 months

Typical home value in 85003 over the last 12 months: $564K in Sep 2025 to $575K in Sep 2026 (+2.0%).

Sep 2025$564K

Sep 2026$575K

The numbers

What is the 85003 housing market like?

Typical home value

$575K

Up2.0%YoY

Median list price

$739K

Up7.5%MoM

Days on market

90

Up21.6%MoM

Homes for sale

48

Up4.3%MoM

Price cuts

24.3%

Down27.0%MoM

New listings

14

Down12.5%MoM

Sources · Zillow ZHVI (September 2026) / Realtor.com (September 2026) / FRED (October 2026)

The outlook

85003 housing market forecast 2027

-1.7%

Zillow forecast, 12 months to September 2027

Zillow forecasts typical home values in 85003 to fall 1.7% by September 2027.

Over the 12 months through September 2026, typical home values in 85003 rose 2.0%, per the Zillow Home Value Index.

Will home prices drop in 85003?

Zillow's forecast says they may: it expects typical home values in 85003 to fall 1.7% by September 2027, after a 2.0% rise over the past 12 months. Forecasts are not guarantees: mortgage rates, inventory, and the wider economy can move values either way.

Forecast: Zillow Home Value Forecast, published October 2026. A forecast, not a guarantee.

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The comparison

How do 85003 home prices compare?

  • 85003$575,316
  • Phoenix$408,720
  • Arizona$385,442
  • United States$285,347

Median Zillow home value (ZHVI), as of September 2026. Comparison levels are medians across every ZIP code with Zillow data (Phoenix: 42 ZIPs; Arizona: 300 ZIPs; United States: 26,262 ZIPs).

Context

The 85003 market in September 2026 showed steady values and slower turnover. The typical home value of $575,316 was up 2.0% over the past year, but the median list price of $738,700 sat well above that figure. With 48 homes for sale and only 14 new listings, supply stayed limited, yet homes still spent a median of 90 days on the market. A 24.3% share of listings took a price cut, a sign that initial asking prices often started too high. Sellers should expect buyers to negotiate and should price close to recent closed values.

Monthly payment

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20% · $115,063

Common questions

What people ask us.

How much is a home in 85003 worth?

The typical home value in 85003 is $575,316 as of September 2026, up 2.0% over the past year.

How long do homes take to sell in 85003?

Homes in 85003 spent a median of 90 days on the market as of September 2026.

How competitive is the 85003 market?

As of September 2026 there were 48 homes for sale with 14 new listings, and 24.3% of listings had a price cut.

Discover

Nearby ZIP markets.

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Guides for sellers.