Is Phoenix, AZ 85004 a buyer’s or seller’s market?

The Phoenix housing market right now

In the three months ending August 31, 2026, 11% of homes in Phoenix, AZ 85004 sold above their list price, the typical home went under contract in 123 days and there were 8 months of supply. More than six months of supply favors buyers, who usually have more time and more room to negotiate. That’s based on 19 home sales.

Compared with the same period a year earlier, the share selling over asking rose from 6%, homes sold more slowly (97 days then) and the median sale price fell 11% to $394,829. Overall, Phoenix is less competitive than a year ago, which gives buyers more room.

Within Maricopa County, homes here sell more slowly than in 96% of the county’s ZIP codes, and sell more often over asking than in 52%. On our competition score, Phoenix ranks #216 of 231 AZ ZIP codes with enough sales (score 11 out of 100).

Nearby, buyers who want less competition could look at Wickenburg 85390 (0% sold over asking) or Carefree 85377 (0% sold over asking), while Arlington 85322 (33% sold over asking) and Tolleson 85353 (32% sold over asking) are even more competitive.