Market Intelligence · AZ / Phoenix

Phoenix, AZ 85012 Housing Market

In Phoenix, AZ 85012, the typical home value is $641,838, up 1.8% over the past year as of September 2026. The median list price is $504,450, and homes are spending a median of 109 days on market.

Updated September 2026Median value$642K

The median home value in Phoenix, AZ 85012 is $642K as of September 2026, up 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 85012 range

$590K to $693K

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$630K

Low $630KHigh $646K

Sep 2026$642K

The numbers

What is the 85012 housing market like?

As of September 2026

Typical home value

$642K

1.8%YoY

Median list price

$504K

6.4%MoM

Days on market

109

9.2%MoM

Homes for sale

4.1%MoM

Price cuts

24.9%

105.3%MoM

New listings

16.7%MoM

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

The outlook

85012 housing market forecast 2027

-1.3%

Zillow forecast, 12 months to September 2027

Zillow forecasts typical home values in 85012 to fall 1.3% by September 2027.

Over the 12 months through September 2026, typical home values in 85012 rose 1.8%, per the Zillow Home Value Index.

Will home prices drop in 85012?

Zillow's forecast says they may: it expects typical home values in 85012 to fall 1.3% by September 2027, after a 1.8% 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 85012 home prices compare?

85012$641,838
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 85012 market has 51 homes for sale as of September 2026, with 14 new listings coming on. The median list price is $504,450, while the typical home value is $641,838 and is up 1.8% over the past year. A median of 109 days on market points to slower decisions and more room for negotiation than a fast market. With 24.9% of listings showing a price cut, sellers need to price carefully from the start. The honest takeaway is that value is holding up, but buyers are not rushing.

Monthly payment

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Home price

Down payment20% · $128,368

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Common questions

What people ask us.

How much is a home in 85012 worth?

The typical home value in Phoenix, AZ 85012 is $641,838 as of September 2026, up 1.8% over the past year.

Are homes selling quickly in 85012?

Not especially. The median days on market is 109 as of September 2026.

Are sellers cutting prices in 85012?

As of September 2026, 24.9% of listings have a price cut, while there are 51 homes for sale and 14 new listings.

Discover

Nearby ZIP markets.

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