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Market Intelligence · AZ / Phoenix

Phoenix, AZ 85027 Housing Market

The typical home in Phoenix's 85027 ZIP code is worth $376,395 as of September 2026, down 1.3% over the past year. Homes carry a median list price of $375,000 and a median of 48 days on market before going under contract.

Updated September 2026Median value$376K

The median home value in Phoenix, AZ 85027 is $376K as of September 2026, down 1.3% 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 85027 range

$346K to $407K

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

-1.3% over 12 months

Typical home value in 85027 over the last 12 months: $381K in Sep 2025 to $376K in Sep 2026 (-1.3%).

Sep 2025$381K

Sep 2026$376K

The numbers

What is the 85027 housing market like?

Typical home value

$376K

Down1.3%YoY

Median list price

$375K

Down3.2%MoM

Days on market

48

Down25.0%MoM

Homes for sale

84

Up12.0%MoM

Price cuts

24.1%

Down25.7%MoM

New listings

42

Up50.0%MoM

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

The outlook

85027 housing market forecast 2027

-1.7%

Zillow forecast, 12 months to September 2027

Zillow forecasts typical home values in 85027 to fall 1.7% by September 2027.

Over the 12 months through September 2026, typical home values in 85027 fell 1.3%, per the Zillow Home Value Index.

Will home prices drop in 85027?

Zillow's forecast says they may: it expects typical home values in 85027 to fall 1.7% by September 2027, after a 1.3% 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 85027 home prices compare?

  • 85027$376,395
  • 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

Inventory in 85027 is moderate, with 84 homes for sale as of September 2026 and 42 new listings hitting the market that month. The median list price sits at $375,000, essentially in line with the typical home value of $376,395. Homes are taking a median of 48 days to sell, and 24.1% of active listings have taken a price cut. Values slipped 1.3% over the past year, so this is a slightly soft market rather than a hot one. For a seller, pricing realistically from day one matters more here than it would in a rising market.

Monthly payment

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20% · $75,279

Common questions

What people ask us.

How much is a home in 85027 worth?

The typical home value in 85027 is $376,395 as of September 2026, down 1.3% over the past year.

How long does it take to sell a home in 85027?

Homes in 85027 spend a median of 48 days on the market as of September 2026.

Are sellers cutting prices in 85027?

Yes. As of September 2026, 24.1% of active listings in 85027 have had a price cut.

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