Market Intelligence · AZ / Phoenix

Phoenix, AZ 85048 Housing Market

In Phoenix, AZ 85048, the typical home value is $576,337 as of September 2026, down 0.1% over the past year. The median list price is $587,000, and homes are spending a median of 62 days on the market.

Updated September 2026Median value$576K

The median home value in Phoenix, AZ 85048 is $576K as of September 2026, down 0.1% 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 85048 range

$530K to $622K

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

-0.1% over 12 months

Sep 2025$577K

Low $576KHigh $581K

Sep 2026$576K

The numbers

What is the 85048 housing market like?

As of September 2026

Typical home value

$576K

0.1%YoY

Median list price

$587K

1.4%MoM

Days on market

12.7%MoM

Homes for sale

5.4%MoM

Price cuts

35.1%

7.6%MoM

New listings

66.7%MoM

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

The outlook

85048 housing market forecast 2027

-1.6%

Zillow forecast, 12 months to September 2027

Zillow forecasts typical home values in 85048 to fall 1.6% by September 2027.

Over the 12 months through September 2026, typical home values in 85048 fell 0.1%, per the Zillow Home Value Index.

Will home prices drop in 85048?

Zillow's forecast says they may: it expects typical home values in 85048 to fall 1.6% by September 2027, after a 0.1% 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 85048 home prices compare?

85048$576,337
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

As of September 2026, there are 98 homes for sale in Phoenix, AZ 85048, with 40 new listings coming on. The median list price sits at $587,000, while the typical home value is $576,337, down 0.1% over the past year. Homes are taking a median of 62 days to sell, and 35.1% of listings have had a price cut. That is a meaningful share of sellers adjusting their expectations. For a homeowner thinking about selling, pricing accurately from the start matters more here than testing a high number.

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Down payment20% · $115,267

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Common questions

What people ask us.

How much is a home in 85048 worth?

The typical home value in Phoenix, AZ 85048 is $576,337 as of September 2026, down 0.1% over the past year.

How long does it take to sell a home in 85048?

Homes in 85048 are spending a median of 62 days on the market as of September 2026.

Are sellers cutting prices in 85048?

As of September 2026, 35.1% of listings in Phoenix, AZ 85048 have had a price cut, with the median list price at $587,000.

Discover

Nearby ZIP markets.

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