The Phoenix-area housing market is balanced toward buyers this fall: the median sales price of a Greater Phoenix single-family home was $475,000 in September (down 2.1% year over year), inventory was up 6.7%, and homes spent a median of 77 days on market.
The Numbers at a Glance
| Metric | September 2026 | Change |
|---|---|---|
| Median sales price (Greater Phoenix, single-family) | $475,000 | −2.1% YoY |
| Median sales price (statewide, ARMLS) | $450,000 | Flat YoY |
| Days on market (median) | 77 | Down from 79 |
| Sold-to-list price ratio | 98.1% | Unchanged YoY |
| Inventory | Up 6.7% | Near 10-year high nationally |
| Month of supply (ARMLS) | 4.45 months | Buyer-leaning |
| Fastest-moving cities | Chandler 66.5 / Gilbert 65.6 days | — |
Sources: ARMLS October 2026 STAT Report (September data); Phoenix REALTORS September data as reported by InBusiness PHX, October 8, 2026.
What It Means for Sellers
Homes priced to the data still move — sellers are averaging 98.1% of list price, unchanged from last year. The ones sitting are priced ahead of it, in a market where buyers have 6.7% more choices than last year. Concessions such as rate buydowns and closing-cost help are now a strategic tool on both sides of the table, especially when resale homes compete with new construction.
What It Means for Buyers
More inventory and flat prices mean more room to negotiate than any fall since 2020. The monthly payment, not the list price, is the number to underwrite. With the affordability index at 72, the median household income covers about 72% of what it takes to qualify for the median-priced home — which is why buydowns and seller concessions matter more than ever.
Frequently Asked Questions
Is Phoenix a buyer's or seller's market right now?
Balanced leaning toward buyers. At 4.45 months of supply, the metro is above the roughly 4-month line that typically separates a neutral market from a seller's market.
What's the median home price in Phoenix?
The median single-family sales price in Greater Phoenix was $475,000 in September 2026. ARMLS puts the statewide median at $450,000, flat year over year.
How fast are homes selling in Phoenix?
The median is 77 days on market. Chandler (66.5 days) and Gilbert (65.6 days) are moving fastest, per ARMLS.
Are sellers still getting their asking price?
On average, 98.1% of list price in September, unchanged from last year — with concessions increasingly part of the deal structure.
The Bottom Line
Flat prices, rising inventory, and steady demand put this market in a workable middle: buyers have leverage they haven't had in years, and sellers who price to the data and use concessions strategically are still closing near asking. The winners on both sides are the ones tracking the signals instead of the headlines.
Want these numbers applied to your situation? Reach out or call (480) 678-1005.
By Sady Flynn, REALTOR® · My Home Group · Scottsdale, Arizona