Home Values

Phoenix Metro Home Prices & Values

Zillow Home Value Index

The Zillow Home Value Index is the median Zestimate valuation for a given geographic area on a given day. Learn more

$202,500

  • 5.1% 1-year change
  • 2.9% 1-year forecast

Market Temperature

Based on three metrics—sale-to-list price ratio, the prevalence of price cuts on home listings, and time-on-market—the market temperature provides information on the current balance of bargaining power between buyers and sellers in this metro relative to other metros across the US. A particular metro may be identified as a good market for buyers in a national market favorable to sellers overall. Learn more

Neutral

Buyers' Market
Sellers' Market

The median home value in Phoenix Metro is $202,500. Phoenix Metro home values have gone up 5.1% over the past year and Zillow predicts they will rise 2.9% within the next year. The median list price per square foot in Phoenix Metro is None. The median rent price in Phoenix Metro is $1,200, which is higher than the Arizona median of $1,150.

Foreclosures will be a factor impacting home values in the next several years. In Phoenix Metro 2.8 homes are foreclosed (per 10,000). This is the same as the Arizona value of 2.8 and also lower than the national value of 3.0

Mortgage delinquency is the first step in the foreclosure process. This is when a homeowner fails to make a mortgage payment. The percent of delinquent mortgages in Phoenix Metro is 3.4%, which is lower than the national value of 6.3%. With U.S. home values having fallen by more than 20% nationally from their peak in 2007 until their trough in late 2011, many homeowners are now underwater on their mortgages, meaning they owe more than their home is worth. The percent of Phoenix Metro homeowners underwater on their mortgage is 20.6%, which is lower than Arizona at 21.6%.

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Relative ZHVI
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Phoenix Metro Market Overview

Data through Mar 31, 2015
  • $202,500 ZHVI
  • 2.9% 1-yr forecast
    The Zillow Home Value Forecast is Zillow's prediction of what the Zillow Home Value Index will be one year from now. Learn more
    (Mar 31, 2016)
  • No data Median listing price
  • $204,100 Median sale price
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Phoenix Metro Market Health

Data through Mar 31, 2015
  • 6.2/10 Healthy
    The Market Health Index illustrates the current health of a region's housing market relative to other markets across the country. The Market Health Index is based on up to 10 metrics including those capturing the past and projected evolution of home values, the prevalence of foreclosures, foreclosure re-sales, negative equity and delinquency, as well as whether homes are currently selling faster or slower than in the past.
    (Feb 28, 2015)
  • 84 Average days on Zillow (Feb 28, 2015)
  • 20.6% Homes with negative equity (16.9% US Avg) (Dec 31, 2014)
  • 3.4% Delinquent on mortgage (6.3% US Avg) (Dec 31, 2014)

Homes foreclosed (per 10,000)

2.8 homes Phoenix Metro
2.8 homes Arizona
3 homes United States
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Cities in Phoenix Metro

Name Median ZHVI
Scottsdale $374,400
Gilbert $254,200
Chandler $238,500
Name Median ZHVI
Tempe $210,700
Peoria $203,900
Mesa $174,300
Name Median ZHVI
Queen Creek $170,800
Glendale $164,900
Phoenix $161,600

Listings & Sales

Data through Mar 31, 2015
  • No recent data Median list price / sq ft
  • $119 Median sale price / sq ft
  • No data Listings with price cut
18.9%
Sold below listing
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Phoenix Metro Rentals

Data through Mar 31, 2015
  • Zillow Rent Index

  • $1,238 Phoenix Metro
    $1,206 Arizona
    $1,362 United States

    The Zillow Rent Index is the median Rent Zestimate valuation for a given geographic area on a given day. Learn more

  • 1.6 Breakeven horizon
    The breakeven horizon is the number of years after which buying is more financially advantageous than renting. Learn more
    (Jun 30, 2014)
  • $1,200 Rent list price
  • $0.82 Rent list price / sq ft
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