Market Intelligence · AZ / Phoenix

Phoenix, AZ 85048 Housing Market

Typical home value in Phoenix 85048 is $582,915, down 0.3% over the past year. The median list price is $579,000, with homes spending 71 days on market. This shows a market moving at a measured pace.

Updated August 2026Median value$578K

The median home value in Phoenix, AZ 85048 is $578K as of August 2026, down 0.1% 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 85048 range

$532K to $625K

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

Typical home value in 85048 over the last 12 months: $579K in Aug 2025 to $578K in Aug 2026 (-0.1%).

Aug 2025$579K

Aug 2026$578K

The numbers

What is the 85048 housing market like?

Typical home value

$578K

Down0.1%YoY

Median list price

$579K

Down0.6%MoM

Days on market

71

Down6.6%MoM

Homes for sale

93

Down2.1%MoM

Price cuts

32.6%

Up15.8%MoM

New listings

24

Down29.4%MoM

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

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The comparison

How do 85048 home prices compare?

  • 85048$578,277
  • Phoenix$411,560
  • Arizona$388,803
  • United States$288,625

Median Zillow home value (ZHVI), as of August 2026. Comparison levels are medians across every ZIP code with Zillow data (Phoenix: 42 ZIPs; Arizona: 300 ZIPs; United States: 26,265 ZIPs).

Context

The 85048 ZIP has 93 homes for sale as of August 1, 2026, with 24 new listings entering the market recently. Median days on market stands at 71, indicating homes are taking time to find buyers. Nearly one-third of listings carry a price cut, which reflects the slight downward pressure on values over the past twelve months. Sellers in this area should expect a patient market and may need flexibility on price to attract interest.

Monthly payment

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20% · $115,655

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