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Market Intelligence · AZ / Phoenix

Phoenix, AZ 85008 Housing Market

The typical home in Phoenix's 85008 ZIP code is worth $368,196, down 0.5% over the past year as of September 2026. Homes are listed at a median price of $415,000 and take a median of 64 days to sell.

Updated September 2026Median value$368K

The median home value in Phoenix, AZ 85008 is $368K as of September 2026, down 0.5% 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 85008 range

$339K to $398K

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

-0.5% over 12 months

Typical home value in 85008 over the last 12 months: $370K in Sep 2025 to $368K in Sep 2026 (-0.5%).

Sep 2025$370K

Sep 2026$368K

The numbers

What is the 85008 housing market like?

Typical home value

$368K

Down0.5%YoY

Median list price

$415K

Down0.6%MoM

Days on market

64

Down1.5%MoM

Homes for sale

107

Down3.6%MoM

Price cuts

48.6%

Up8.7%MoM

New listings

28

Down30.0%MoM

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

The outlook

85008 housing market forecast 2027

-1.8%

Zillow forecast, 12 months to September 2027

Zillow forecasts typical home values in 85008 to fall 1.8% by September 2027.

Over the 12 months through September 2026, typical home values in 85008 fell 0.5%, per the Zillow Home Value Index.

Will home prices drop in 85008?

Zillow's forecast says they may: it expects typical home values in 85008 to fall 1.8% by September 2027, after a 0.5% 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 85008 home prices compare?

  • 85008$368,196
  • 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

There were 107 homes for sale in 85008 as of September 2026, with 28 new listings coming on the market. The median list price was $415,000, and homes spent a median of 64 days on market. The typical home value of $368,196 sits below that asking figure, and values slipped 0.5% over the past year. Nearly half of active listings have already cut their price. For a seller, the practical lesson is that buyers have room to negotiate, so pricing realistically from the start matters more than testing the top of the market.

Monthly payment

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20% · $73,639

Common questions

What people ask us.

How much is a home in 85008 worth?

The typical home value in 85008 is $368,196 as of September 2026, down 0.5% over the past year. The median list price is $415,000.

How long does it take to sell a home in 85008?

Homes in 85008 spent a median of 64 days on the market as of September 2026.

Are sellers cutting prices in 85008?

Yes. As of September 2026, 48.6% of listings in 85008 had a price cut.

Discover

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