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Phoenix Home Prices Diverge Across Neighborhoods

Metro Phoenix home prices showed stark contrasts over the past year. While central neighborhoods saw median prices surge significantly, other areas experienced notable declines amid shifting market activity.

Phoenix's 85012 Zip code saw the Valley's biggest increase in home prices during the year ended Sept. 30, 2026. Park Central is part of the area.

Metro Phoenix home prices jumped 44.2% in ZIP code 85012 during the year ended September 30, 2026, leading all Valley areas despite lower sales volume. The regional housing market recorded flat median prices overall across the United States metro area at $450,000. Buyers are navigating record-high seller concessions as nearly half of active listings undergo price cuts.