Market Intelligence · AZ / Phoenix

Phoenix, AZ 85007 Housing Market

The typical home value in Phoenix 85007 is $406,748, down 3.6% over the past year. The median list price stands at $464,999, with homes spending a median of 87 days on market.

Updated August 2026Median value$404K

The median home value in Phoenix, AZ 85007 is $404K as of August 2026, down 2.6% year over year, according to Zillow ZHVI. Get your own home's value and a real cash offer in about two minutes, with sources shown and no obligation.

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Typical 85007 range

$372K to $437K

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

-2.6% over 12 months

Typical home value in 85007 over the last 12 months: $415K in Aug 2025 to $404K in Aug 2026 (-2.6%).

Aug 2025$415K

Aug 2026$404K

The numbers

What is the 85007 housing market like?

Typical home value

$404K

Down2.6%YoY

Median list price

$465K

Down12.2%MoM

Days on market

87

Flat0.0%MoM

Homes for sale

34

Flat0.0%MoM

Price cuts

21.4%

Down51.8%MoM

New listings

12

Up20.0%MoM

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

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The comparison

How do 85007 home prices compare?

  • 85007$404,432
  • Phoenix$411,560
  • Arizona$388,803
  • United States$288,625

Median Zillow home value (ZHVI), as of August 2026. Comparison levels are medians across every ZIP code with Zillow data (Phoenix: 42 ZIPs; Arizona: 300 ZIPs; United States: 26,265 ZIPs).

Context

There are currently 34 homes for sale in this ZIP, with 12 new listings added recently. The median days on market of 87 suggests a slower pace than typical for the Phoenix area. Price cuts appear on 21.4% of active listings, indicating some downward pressure. This combination of falling values, extended time on market, and discounting reflects a buyer's market. Sellers should expect a longer sales timeline and may need to be flexible on pricing.

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