Phoenix ZIP Prices Split as Metro Median Holds
Phoenix-area sellers and buyers should check ZIP-level prices, since neighborhood trends are diverging from the flat metro median.
Updated on Nov. 1, 2026 in Residential
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Central Phoenix ZIP code 85012 posted the largest home price increase in metro Phoenix over the year ended September 30, 2026, rising 44% to a median of $724,500 on just 18 sales. Across the Valley, the median was flat at $450,000 in September 2026, while seller concessions reached a record high.
Why it matters
For Phoenix-area households, the uneven market means a neighborhood's price trend can differ sharply from the metro average, which affects equity, refinancing, and what a fair asking price looks like. Record seller concessions mean many buyers are negotiating closing costs and mortgage buydowns rather than headline prices.
Metro Phoenix sales fell from 6,083 in September 2025 to 5,672 in September 2026, while ZIP 85003 dropped almost 34% to $517,500 and ZIP 85018 fell 21% to $947,246. Roughly 49% of Phoenix-area houses for sale have already had a price cut.
The players
Arizona Regional Multiple Listing Service
The regional listing database that supplies the sales data behind these median home price figures for the Phoenix metro area.
The details
Median prices are calculated from sales reported through the Arizona Regional Multiple Listing Service, so a ZIP code with very few closings, like 85012 with 18 sales, can swing sharply in a single year. A buydown lowers the buyer's mortgage interest rate, typically by 2 percentage points, and sellers often fund these as part of the concession package.
Timeline
The 85012 price jump covers the year ended September 30, 2026.
September 2026 Valley data showed the median flat at $450,000 compared with September 2025.
Metro sales counts compare September 2026 with September 2025.
The Home Front
The Phoenix market is splitting, with a few central and north ZIP codes rising sharply while others fall, even as the metro median holds steady. Record seller concessions show that much of the price pressure is now being absorbed through closing-cost and buydown deals instead of list-price changes.
If you are selling in Phoenix, pull recent closing data for your own ZIP code before setting a list price, since the metro median may not reflect your neighborhood. If you are buying, ask your lender to compare seller-funded concession options against a lower sale price, and have a licensed agent review the specifics for your transaction.
The takeaway
The Phoenix market is no longer one story, so neighborhood-level data matters more than the metro headline. Keep a running record of seller concessions and price cuts in your target ZIP codes before making an offer.
Further reading
For broader context on how these neighborhood trends fit into the local market, explore Residential coverage for Phoenix.
Source note: This article includes information reported by AZ Central.
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