Market Intelligence · AZ / Phoenix

Phoenix, AZ 85016 Housing Market

The typical home value in Phoenix's 85016 ZIP code stands at $521,611, up 0.7% over the past year. The median list price is $549,450, with homes typically spending 74 days on the market.

Updated August 2026Median value$520K

The median home value in Phoenix, AZ 85016 is $520K as of August 2026, up 1.0% 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 85016 range

$478K to $562K

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

+1.0% over 12 months

Typical home value in 85016 over the last 12 months: $515K in Aug 2025 to $520K in Aug 2026 (+1.0%).

Aug 2025$515K

Aug 2026$520K

The numbers

What is the 85016 housing market like?

Typical home value

$520K

Up1.0%YoY

Median list price

$549K

Up8.3%MoM

Days on market

74

Flat0.0%MoM

Homes for sale

207

Down5.0%MoM

Price cuts

28.6%

Down5.4%MoM

New listings

68

Up30.8%MoM

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

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The comparison

How do 85016 home prices compare?

  • 85016$519,914
  • 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 207 homes for sale in 85016, with 68 new listings as of August 2026. The median time on market of 74 days suggests a moderate pace of sales activity. Nearly three in ten listings have seen price reductions, with 28.6% of homes cut from their original asking prices. The slight year-over-year gain in typical home value indicates a stabilizing market. If you're considering selling, be aware that price reductions are common enough to factor into your pricing strategy.

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