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Market Intelligence · AZ / Phoenix

Phoenix, AZ 85028 Housing Market

The typical home value in Phoenix's 85028 ZIP code is $705,739, up 4.4% over the past year as of September 2026. Sellers are listing at a median of $732,500, and homes are spending a median of 70 days on market.

Updated September 2026Median value$706K

The median home value in Phoenix, AZ 85028 is $706K as of September 2026, up 4.4% 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 85028 range

$649K to $762K

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

+4.4% over 12 months

Typical home value in 85028 over the last 12 months: $676K in Sep 2025 to $706K in Sep 2026 (+4.4%).

Sep 2025$676K

Sep 2026$706K

The numbers

What is the 85028 housing market like?

Typical home value

$706K

Up4.4%YoY

Median list price

$733K

Up3.9%MoM

Days on market

70

Up11.1%MoM

Homes for sale

54

Down12.9%MoM

Price cuts

30.1%

Up8.7%MoM

New listings

24

Flat0.0%MoM

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

The outlook

85028 housing market forecast 2027

-1.1%

Zillow forecast, 12 months to September 2027

Zillow forecasts typical home values in 85028 to fall 1.1% by September 2027.

Over the 12 months through September 2026, typical home values in 85028 rose 4.4%, per the Zillow Home Value Index.

Will home prices drop in 85028?

Zillow's forecast says they may: it expects typical home values in 85028 to fall 1.1% by September 2027, after a 4.4% 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 85028 home prices compare?

  • 85028$705,739
  • 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

There are 54 homes for sale in 85028 as of September 2026, with 24 new listings coming on in the same period. The typical home value of $705,739 sits below the median list price of $732,500, so sellers are generally aiming above where values have settled. The 4.4% gain over the past year shows prices are still climbing, but the 70-day median on market means buyers are taking their time. With 30.1% of listings showing a price cut, some sellers are starting too high. If you are thinking about selling, pricing close to what the data supports will likely matter more than testing the top of the market.

Monthly payment

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20% · $141,148

Common questions

What people ask us.

How much is a home in 85028 worth?

The typical home value in 85028 is $705,739 as of September 2026, up 4.4% over the past year.

How fast are homes selling in 85028?

Homes in 85028 are spending a median of 70 days on market as of September 2026, so the pace is measured rather than quick.

Are sellers cutting prices in 85028?

Yes. As of September 2026, 30.1% of listings in 85028 have taken a price cut, while the median list price stands at $732,500.

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