Market Intelligence · AZ / Phoenix

Phoenix, AZ 85054 Housing Market

The typical home value in Phoenix, AZ 85054 is $715,697, up 0.2% over the past year as of September 2026. The median list price is $619,625, and homes are spending a median of 46 days on the market.

Updated September 2026Median value$716K

The median home value in Phoenix, AZ 85054 is $716K as of September 2026, up 0.2% 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 85054 range

$658K to $773K

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

+0.2% over 12 months

Sep 2025$714K

Low $714KHigh $723K

Sep 2026$716K

The numbers

What is the 85054 housing market like?

As of September 2026

Typical home value

$716K

0.2%YoY

Median list price

$620K

3.6%MoM

Days on market

41.0%MoM

Homes for sale

15.0%MoM

Price cuts

23.1%

7.4%MoM

New listings

50.0%MoM

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

The outlook

85054 housing market forecast 2027

-1.2%

Zillow forecast, 12 months to September 2027

Zillow forecasts typical home values in 85054 to fall 1.2% by September 2027.

Over the 12 months through September 2026, typical home values in 85054 rose 0.2%, per the Zillow Home Value Index.

Will home prices drop in 85054?

Zillow's forecast says they may: it expects typical home values in 85054 to fall 1.2% by September 2027, after a 0.2% 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 85054 home prices compare?

85054$715,697
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 69 homes for sale in 85054, with 30 new listings coming onto the market. The median list price of $619,625 sits well below the typical home value of $715,697, which has risen 0.2% over the past year. About 23.1% of active listings have taken a price cut, and homes are taking a median of 46 days to sell. Sellers here should expect buyers to negotiate and should price carefully from the start rather than plan on reductions later.

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Down payment20% · $143,139

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Common questions

What people ask us.

How much is a home in 85054 worth?

The typical home value in 85054 is $715,697 as of September 2026, up 0.2% over the past year.

How long does it take to sell a home in 85054?

Homes in 85054 are spending a median of 46 days on the market as of September 2026.

Are sellers cutting prices in 85054?

Yes. As of September 2026, 23.1% of listings in 85054 have a price cut.

Discover

Nearby ZIP markets.

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