Phoenix • Arizona • Market Updates Phoenix Housing Market September 2026 Phoenix, AZ — city-level snapshot for single-family detached homes, refreshed against the same date last month.
What’s happening in the Phoenix housing market right now? As of September 10, 2026 , Phoenix is moderately seller-leaning : 3.4 months of supply (excluding UCB/CCBS), median monthly sold price $464,990 , days on market (sold) 70 days, and an average sale-to-list of 97.77% . The Cromford® Market Index is 113.8 , down sharply from 121.3 last month, and the move came off the demand side.
$464,990
DOWN
Median sold price
3.4 mo
MORE SUPPLY
Months of supply (excl. UCB)
70 days
SLOWER
Days on market (sold)
97.77%
FLAT
Avg sale price % of list
Written by Andrea Scheppe , Phoenix native and full-time, award-winning REALTOR® with HomeSmart Elite, Valley Solutions Team.
Phoenix reality check: This was the sharpest one-month index decline in the Valley markets I track. The Cromford® Market Index fell 7.5 points (121.3 → 113.8 ) on demand, not supply — the Demand Index dropped from 78.1 to 73.6 while the Supply Index barely moved (64.4 → 64.7 ). Closings fell (824 → 757 ) while active listings rose (2,895 → 3,001 ), taking months of supply from 3.0 to 3.4 . The median dropped to $464,990 from $475,000, the lowest of the five periods in the table below, and average sold size fell with it (2,017 → 1,974 SF ), so smaller homes account for much of that. Per-foot pricing went the other way: sold $/SF rose to $310.57 and under-contract $/SF jumped to $339.10 from $320.55.
What this means Negotiation Homes are selling for about 97.77% of list price, roughly 2.23% under asking on average, or about $10,374 on a median-priced Phoenix home. Unchanged from last month’s 97.79%.
How much is for sale Inventory is 3.4 months (excluding UCB/CCBS), looser than last month’s 3.0 and looser than last September’s 3.1. Active listings excluding UCB are up 2.1% year over year at 2,574 .
How long it takes Recently-sold homes averaged 70 days on market, up from 65 last month but down from last September’s 72; active listings average 84 days .
Pricing reality ($/SF) Monthly sold $/SF is $310.57 while active list $/SF is $365.90 . That is a $55.33 spread, the second-widest of the Valley markets I track after Scottsdale. Phoenix asking prices carry a large cushion over what buyers actually paid.
Market call: seller-leaning, demand pulled back Moderately seller-leaning because the Cromford® Market Index is 113.8 (above 100). The 7.5-point drop from 121.3 is a demand story: the Demand Index fell from 78.1 to 73.6 while the Supply Index was effectively flat (64.4 → 64.7 ). Supply did not flood in; buyers stepped back. Phoenix is still well above last September’s 106.1.
Sale-to-list held at 97.77% and the listing success rate improved to 71.2% from 70.1%, so the listings that do sell are holding their price. The contract ratio was unchanged at 36.7 , and listings under contract rose to 944 from 919 even as closings fell — the pipeline refilled while the closing count dropped.
Quick pulse vs last month (8/6 → 9/10): active listings 2,895 → 3,001 , pending 528 → 517 , under contract 919 → 944 , sales/month 824 → 757 .
Pricing per sq ft: active list $/SF $356.58 → $365.90 ; monthly sold $/SF $306.05 → $310.57 ; under contract $/SF $320.55 → $339.10 .
Buyer standings — September 2026 Here is the buyer takeaway for September 2026 and what matters if you’re buying in Phoenix right now.
The asking-to-closing gap is the widest lever you have. Active list is $365.90/sf against monthly sold $310.57/sf , a $55.33 spread. Phoenix sellers are asking a lot more per foot than Phoenix buyers are paying.Demand fell, and that is your opening. The Cromford® Demand Index dropped to 73.6 from 78.1 and closings fell to 757 from 824. Fewer competing buyers than a month ago.More to choose from. Active listings rose to 3,001 and supply loosened to 3.4 months , up from 3.0 last month.Negotiation did not move. Sale-to-list is 97.77% , about 2.23% under ask, or roughly $10,374 on a $464,990 home. The softening is showing up in volume, not yet in discounts.Look at the 84-day listings. Active days on market is 84 against sold at 70 . That 14-day gap is where the overpriced inventory sits.Seller standings — September 2026 Buyer demand dropped this month. The Demand Index fell to 73.6 and closings to 757 . This is the sharpest index decline of any Valley market I track this month.Price to the closing market. Buyers closed around $310.57/sf while active listings average $365.90/sf . That $55.33 premium is the single biggest reason Phoenix listings sit.Your terms are still holding. Sale-to-list is 97.77% and the listing success rate rose to 71.2% . Priced correctly, you are not giving up more than you were last month.The pipeline actually improved. Listings under contract rose to 944 from 919 and under-contract $/SF jumped to $339.10 . The contracts written in September were written at higher per-foot pricing.Seven in ten listings close. The listing success rate is 71.2% , up from 70.1% last month. Roughly three in ten Phoenix listings still come off the market without selling.Phoenix daily market snapshot — single family detached Metric Today Last Month Last Quarter Last Year Two Years Ago Active listings 3,001 2,895 3,103 2,962 2,612 UCB & CCBS listings 427 391 514 441 421 Active listings excl. UCB 2,574 2,504 2,589 2,521 2,191 Pending listings 517 528 652 522 495 Listings under contract 944 919 1,166 963 916 Sales per month 757 824 1,019 812 700 Sales per year 10,141 10,196 10,141 10,016 9,515 Days on market (sold) 70 65 63 72 58 Days on market (active) 84 85 81 92 68 Days inventory excl. UCB 93 90 93 92 84 Months of supply (excl. UCB) 3.4 3.0 2.5 3.1 3.1 Active listings $/SF $365.90 $356.58 $371.93 $360.34 $351.15 Under contract $/SF $339.10 $320.55 $333.28 $313.30 $335.46 Monthly sales $/SF $310.57 $306.05 $322.06 $305.93 $309.80 Annual sales $/SF $321.06 $320.61 $319.45 $320.19 $317.40 Avg sale price % of list 97.77% 97.79% 97.29% 97.14% 97.70% Listing success rate 71.2% 70.1% 74.1% 67.3% 72.6% Monthly dollar volume $464M $509M $663M $506M $438M Annual dollar volume $6,548M $6,590M $6,520M $6,385M $5,980M Average price (monthly sales) $613,004 $617,229 $650,274 $623,721 $625,604 Median price (monthly sales) $464,990 $475,000 $490,000 $479,500 $495,887 Median price (annual sales) $485,000 $485,000 $485,000 $480,000 $480,000 Average SF (monthly sales) 1,974 2,017 2,019 2,039 2,019 Contract ratio 36.7 36.7 45.0 38.2 41.8 Cromford® Supply Index 64.7 64.4 66.9 65.4 52.1 Cromford® Demand Index 73.6 78.1 83.7 69.4 60.4 Cromford® Market Index 113.8 121.3 125.0 106.1 115.9
Notes & FAQ What is Phoenix’s inventory right now? About 3.4 months of supply (excluding UCB/CCBS) as of 9/10/26.
Are buyers negotiating in Phoenix? Modestly: sale-to-list is 97.77% as of 9/10/26, about 2.23% under asking.
Is Phoenix a buyer’s market right now? No by Cromford® Market Index: it’s 113.8 as of 9/10/26, though it fell 7.5 points this month.
What is the median home price in Phoenix right now? The median monthly sold price for Phoenix single-family detached homes is $464,990 as of September 10, 2026, and the annual median is $485,000, based on Cromford® Daily Market Snapshot data.
Nearby cities and sources This is a rolling daily snapshot (today vs the same date last month), using Phoenix single-family detached resale activity in the Arizona Regional MLS. For neighborhood-level context, see the Arcadia and Biltmore guide .
Nearby markets: Scottsdale Mesa Chandler Gilbert
Disclaimer & source: The Cromford® Report daily market snapshot and commentary. Andrea Scheppe is licensed in Arizona. This update is information, not advice for a specific property.
Thinking of buying or selling in Phoenix? I can walk you through what these numbers mean for your budget, your street and your timeline — as a Phoenix native and full-time, award-winning REALTOR®.
