Is Phoenix, AZ 85016 a buyer’s or seller’s market?

The Phoenix housing market right now

In the three months ending August 31, 2026, 3% of homes in Phoenix, AZ 85016 sold above their list price, the typical home went under contract in 80 days and there were 7.1 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 111 home sales.

Compared with the same period a year earlier, the share selling over asking fell from 5%, homes sold faster (87 days then) and the median sale price held steady to $549,262. Overall, Phoenix is about as competitive as it was a year ago.

Within Maricopa County, homes here sell more slowly than in 83% of the county’s ZIP codes, and sell less often over asking than in 95%. On our competition score, Phoenix ranks #226 of 231 AZ ZIP codes with enough sales (score 7 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.