Is Phoenix, AZ 85007 a buyer’s or seller’s market?

The Phoenix housing market right now

In the three months ending August 31, 2026, 6% of homes in Phoenix, AZ 85007 sold above their list price, the typical home went under contract in 79 days and there were 5.7 months of supply. Four to six months of supply is a balanced market, where pricing and condition decide how much room there is to negotiate. That’s based on 35 home sales.

Compared with the same period a year earlier, the share selling over asking fell from 12%, homes sold more slowly (51 days then) and the median sale price rose 11% to $500,284. Overall, Phoenix is less competitive than a year ago, which gives buyers more room.

Within Maricopa County, homes here sell more slowly than in 81% of the county’s ZIP codes, and sell less often over asking than in 77%. On our competition score, Phoenix ranks #222 of 231 AZ ZIP codes with enough sales (score 9 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.