Market Intelligence · AZ / Phoenix

Phoenix, AZ 85031 Housing Market

The typical home value in Phoenix's 85031 ZIP code is $320,556, down 1.0% over the past year. As of September 2026, the median list price is $324,950.

Updated September 2026Median value$321K

The median home value in Phoenix, AZ 85031 is $321K as of September 2026, down 1.0% 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 85031 range

$295K to $346K

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

Sep 2025$324K

Low $319KHigh $324K

Sep 2026$321K

The numbers

What is the 85031 housing market like?

As of September 2026

Typical home value

$321K

1.0%YoY

Median list price

$325K

6.6%MoM

Days on market

15.1%MoM

Homes for sale

39.1%MoM

Price cuts

20.2%

35.8%MoM

New listings

175.0%MoM

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

The outlook

85031 housing market forecast 2027

-1.7%

Zillow forecast, 12 months to September 2027

Zillow forecasts typical home values in 85031 to fall 1.7% by September 2027.

Over the 12 months through September 2026, typical home values in 85031 fell 1.0%, per the Zillow Home Value Index.

Will home prices drop in 85031?

Zillow's forecast says they may: it expects typical home values in 85031 to fall 1.7% by September 2027, after a 1.0% 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 85031 home prices compare?

85031$320,556
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 32 homes for sale in 85031, with 22 new listings hitting the market in September 2026. Homes are taking a median of 61 days to sell. About 20.2% of listings have seen a price cut, which aligns with a typical home value that has slipped 1.0% over the past year. For sellers, this means buyers have more room to negotiate and pricing a home right from the start matters.

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Home price

Down payment20% · $64,111

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Common questions

What people ask us.

How much is a home in 85031 worth?

The typical home value in 85031 is $320,556, down 1.0% over the past year as of September 2026.

How long does it take to sell a home in 85031?

Homes in 85031 are spending a median of 61 days on the market as of September 2026.

How competitive is the 85031 housing market?

There are 32 homes for sale and 22 new listings as of September 2026, and 20.2% of listings have had a price cut.

Discover

Nearby ZIP markets.

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