Market Intelligence · AZ / Phoenix

Phoenix, AZ 85023 Housing Market

Typical home values in Phoenix 85023 are running around $419,453, down 1.7% over the past year. The median list price sits at $450,000, with homes taking a median of 53 days to sell as of July 2026.

Updated August 2026Median value$419K

The median home value in Phoenix, AZ 85023 is $419K as of August 2026, down 1.7% 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 85023 range

$386K to $453K

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

-1.7% over 12 months

Typical home value in 85023 over the last 12 months: $427K in Jul 2025 to $419K in Jul 2026 (-1.7%).

Jul 2025$427K

Jul 2026$419K

The numbers

What is the 85023 housing market like?

Typical home value

$419K

Down1.7%YoY

Median list price

$437K

Down2.9%MoM

Days on market

52

Down1.9%MoM

Homes for sale

71

Up4.4%MoM

Price cuts

27.2%

Down5.7%MoM

New listings

36

Up63.6%MoM

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

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The comparison

How do 85023 home prices compare?

  • 85023$419,453
  • Phoenix$412,599
  • Arizona$392,647
  • United States$289,821

Median Zillow home value (ZHVI), as of July 2026. Comparison levels are medians across every ZIP code with Zillow data (Phoenix: 42 ZIPs; Arizona: 300 ZIPs; United States: 26,266 ZIPs).

Context

The 85023 ZIP has 68 homes currently for sale, with 22 new listings added recently. Nearly 29% of listings have seen price cuts, a sign that sellers are adjusting to market conditions. Days on market at 53 indicates homes are spending roughly two months on the market before sale. The gap between typical home value and median list price suggests some pricing pressure. For sellers, this is a slower market where pricing strategy and home condition matter more than they did a year ago.

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