Market Intelligence · AZ / Phoenix

Phoenix, AZ 85007 Housing Market

The typical home in Phoenix's 85007 ZIP code is worth $400,315 as of September 2026, down 1.8% over the past year. Sellers are listing at a median of $478,747, and homes are spending a median of 71 days on the market.

Updated September 2026Median value$400K

The median home value in Phoenix, AZ 85007 is $400K as of September 2026, down 1.8% 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 85007 range

$368K to $432K

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

-1.8% over 12 months

Sep 2025$408K

Low $399KHigh $408K

Sep 2026$400K

The numbers

What is the 85007 housing market like?

As of September 2026

Typical home value

$400K

1.8%YoY

Median list price

$479K

3.0%MoM

Days on market

18.4%MoM

Homes for sale

8.8%MoM

Price cuts

36.4%

69.8%MoM

New listings

33.3%MoM

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

The outlook

85007 housing market forecast 2027

-1.8%

Zillow forecast, 12 months to September 2027

Zillow forecasts typical home values in 85007 to fall 1.8% by September 2027.

Over the 12 months through September 2026, typical home values in 85007 fell 1.8%, per the Zillow Home Value Index.

Will home prices drop in 85007?

Zillow's forecast says they may: it expects typical home values in 85007 to fall 1.8% by September 2027, after a 1.8% decline 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 85007 home prices compare?

85007$400,315
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

Inventory in 85007 is limited, with 37 homes for sale as of September 2026 and 16 new listings coming to market that month. The median list price of $478,747 sits well above the typical home value of $400,315, which suggests many asking prices are ahead of what area homes are actually worth. That may explain why 36.4% of listings have taken a price cut. With homes sitting for a median of 71 days, buyers have time to compare options and negotiate. For sellers, the practical read is that pricing realistically from the start matters more than testing the top of the range.

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Common questions

What people ask us.

How much is a home in 85007 worth?

The typical home value in 85007 is $400,315 as of September 2026, down 1.8% over the past year.

How long does it take to sell a home in 85007?

Homes in 85007 spent a median of 71 days on the market as of September 2026.

Are sellers cutting prices in 85007?

Yes. As of September 2026, 36.4% of listings in 85007 had a price cut, while the median list price was $478,747.

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