Market Intelligence · AZ / Phoenix

Phoenix, AZ 85023 Housing Market

The typical home in Phoenix 85023 is valued at $420,289, down 1.9% over the past year. The median list price sits at $464,750, and homes are taking a median of 48 days on market.

Updated June 2026Median value$420K

The median home value in Phoenix, AZ 85023 is $420K as of June 2026, down 1.9% 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

$387K to $454K

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

-1.9% over 12 months

Typical home value in 85023 over the last 12 months: $428K in Jun 2025 to $420K in Jun 2026 (-1.9%).

Jun 2025$428K

Jun 2026$420K

The numbers

What is the 85023 housing market like?

Typical home value

$420K

Down1.9%YoY

Median list price

$465K

Days on market

48

Up20.0%MoM

Homes for sale

70

Price cuts

33.0%

New listings

40

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

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The comparison

How do 85023 home prices compare?

  • 85023$420,289
  • Phoenix$417,347
  • Arizona$393,310
  • United States$291,471

Median Zillow home value (ZHVI), as of June 2026. Comparison levels are medians across every ZIP code with Zillow data (Phoenix: 42 ZIPs; Arizona: 300 ZIPs; United States: 26,270 ZIPs).

Context

As of June 2026, there are 70 homes for sale in the 85023 ZIP code, with 40 new listings adding to the mix. The median list price is $464,750, while the typical home value stands at $420,289, down 1.9% over the past year. Homes are spending a median of 48 days on market, and 33.0% of listings have had a price cut. For sellers, the data points to a cooler market where realistic pricing and patience matter more than they did during faster years.

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