“The Phoenix market” is really four or five markets stacked on top of each other. A $420,000 house in Mesa and a $900,000 house in North Scottsdale aren’t competing for the same buyers, and they aren’t moving at the same speed.
So if you’re thinking about selling, the metro headline only gets you so far. Your price range is the number that matters.
Short answer: Homes priced $375,000 to $474,999 are selling fastest in the Phoenix area, averaging 75 days to an accepted offer and 98.7% of list price over the 12 months through September 2026, per Phoenix REALTORS. Homes at $633,000 and up are slowest, at 83 days and 5.1 months of supply. The fast band is also adding listings fastest.
Which Phoenix price range is selling fastest right now?
The $375,000 to $474,999 band. The Phoenix REALTORS Housing Supply Overview for September 2026 shows homes there averaged 75 days from listing to accepted offer and sold for 98.7% of list price, the best of the four price ranges on both counts.
Here’s the full picture, all property types, from the same report. Days on market is a rolling 12-month average; months supply is a one-month reading.
| Price range | Days on market (year ago) | % of list price received | Months supply (year ago) |
|---|---|---|---|
| $374,999 or less | 82 (73) | 97.7% | 4.4 (4.4) |
| $375,000 to $474,999 | 75 (70) | 98.7% | 4.1 (3.5) |
| $475,000 to $632,999 | 79 (73) | 98.4% | 4.2 (3.9) |
| $633,000 or more | 83 (79) | 97.3% | 5.1 (4.8) |
Every band got slower than a year ago, and the under-$375,000 band slowed the most.
Which Phoenix price range is selling slowest?
Homes at $633,000 and up. They averaged 83 days to an accepted offer, the longest of any band, with 5.1 months of supply (4.8 a year earlier) and 97.3% of list price received, per Phoenix REALTORS’ September 2026 report.
Inventory in that range reached 8,266 homes, up 7.9% from a year earlier. That’s the biggest pool of listings in any band, which means more choice for buyers and more homes to stand out against. Pending sales there were actually up 1.7% over the past 12 months, so buyers are still showing up. There are just more houses waiting for them.
Where is Phoenix housing supply growing fastest?
Right in the fastest band. Months supply for $375,000 to $474,999 jumped from 3.5 to 4.1, up 17.1%, the largest increase of any price range in Phoenix REALTORS’ September 2026 report. Inventory in that band rose 10.3% to 5,773, while 12-month pending sales fell 4.8%.
That combination is worth watching. Speed is still there, but more sellers are crowding into the range where most mortgage-dependent buyers shop, and at 7.40% (the Freddie Mac 30-year average as of October 8, 2026), the payment caps what they can offer.
Is the under-$375,000 Phoenix market still competitive?
For single-family homes, yes. Single-family homes priced $374,999 or less had 3.8 months of supply in September 2026, the tightest of any band or property type in the Phoenix REALTORS report, and down from 3.9 a year earlier.
The all-property number looks softer. Days on market in the under-$375,000 range rose to 82 from 73, up 12.3%. Condos and townhomes in that range averaged 92 days, versus 77 for single-family. At the same time, this band posted the largest 12-month gain in pending sales, up 3.9%. Buyers want entry-level single-family homes. Entry-level condos are a slower sell.
How do Phoenix condos and townhomes compare by price range?
They’re slower in every band. Townhouse and condo supply ran from 5.3 to 6.2 months across the four ranges in September 2026, compared with 3.8 to 5.0 for single-family homes, according to Phoenix REALTORS.
The sharpest jump was condos and townhomes at $375,000 to $474,999, where supply rose from 4.5 to 5.5 months (up 22.2%) and 12-month pending sales fell 14.2%. At $633,000 and up, condos averaged 94 days to an accepted offer. If you own a condo, compare against condos, not the metro headline.
How close to list price are Phoenix homes selling in each range?
Close, in every band. Sellers received between 97.3% and 98.7% of list price across the four ranges in the Phoenix REALTORS September 2026 report, with the middle bands highest and the top band lowest.
That ratio compares sale price with list price. It doesn’t show seller concessions such as a rate buydown or closing-cost credit, and those can be worth more to a buyer than a point of price at today’s rates.
What did the Phoenix market do overall in September 2026?
It got a little slower and a little cheaper. The Phoenix REALTORS Monthly Indicators for September 2026 (current as of October 3) show a median sale price of $460,000 (down 1.6%), 5,511 closed sales (down 4.9%), 79 days on market, 98.0% of list price received, 25,861 homes for sale (up 6.9%) and 4.5 months of supply, up from 4.2.
Pending sales were 3,289, down 40.3% from a year earlier as first reported. First prints of that number are often revised, so treat it as a signal to watch rather than the final word.
Why don’t Phoenix housing reports agree with each other?
Because they measure different things over different periods. The Housing Supply Overview uses rolling 12-month days on market (80 overall), the Monthly Indicators use one month (79), and Homie’s September 22, 2026 leadership report cites ARMLS August 2026 figures with their own definitions.
That ARMLS August table showed 4.28 months of supply (3.77 in July), a 23.37% absorption rate (26.52%), average and median days on market of 88 and 64, and a median sale price of $445,000 ($450,000), with 23,406 active listings. Different window, same direction: more supply, slower sales. Use one source consistently when you compare month to month.
Are Phoenix asking prices falling?
Yes, on the asking side. The Phoenix metro median listing price was $475,000 in September 2026, down from $499,000 a year earlier, according to FRED’s Realtor.com median listing price series. Those are asking prices, not sales.
Price cuts are common. FRED’s Realtor.com price-reduced count shows 9,178 Phoenix listings with a reduction in September 2026, about half of the 18,437 active listings that month.
What does this mean for pricing your Phoenix home?
Price for your band’s speed, not the metro’s. Here’s how we’d rank the bands for sellers right now, strongest position first:
- Single-family under $375,000. The tightest supply in the report at 3.8 months. Price at the market and expect real interest.
- $375,000 to $474,999. Still the fastest and closest to list, but supply is climbing quickly. Get the price right at launch, before more competition shows up.
- $475,000 to $632,999. Solid at 98.4% of list, a few days slower. Condition and photos carry more weight here.
- $633,000 and up. The most inventory and the longest wait. Expect buyers to compare you with a lot of homes and ask for concessions.
- Condos and townhomes in any band. More supply everywhere. Price against other condos and plan for a longer timeline.
Not sure which band you’re really in? A free home value report from a local agent will tell you, based on recent nearby sales.
Does listing just under a price band edge help?
It can. Buyers search with price filters, and a home listed at $475,000 drops out of a search capped at $474,999 or $450,000. Our take: decide which search you want to appear in, then price for it, as long as recent comparable sales support that number.
The report’s bands ($375,000, $475,000, $633,000) aren’t magic lines. Think in terms of what buyers type into a search, and ask your agent how listings near your price are moving.
Quick answers
Is Phoenix a buyer’s market right now?
It’s closer to balanced than a year ago, and it depends on your price. Phoenix-area supply was 4.5 months in September 2026, up from 4.2, per Phoenix REALTORS. Single-family homes under $375,000 had 3.8 months, while condos at $633,000 and up had 6.2. Buyers have more room in the higher and condo bands.
What does months supply mean?
Months supply estimates how long current inventory would last at the recent pace of sales. Phoenix REALTORS calculates it as homes for sale at the end of the month divided by average monthly pending sales over the past 12 months. Higher numbers mean more choice for buyers and more competition for sellers.
Are luxury homes in Phoenix selling slower?
Yes, by this data. Homes at $633,000 and up averaged 83 days to an accepted offer over the 12 months through September 2026, the slowest band, with 5.1 months of supply and 97.3% of list price, per Phoenix REALTORS. Within that band, a $700,000 Gilbert home and a $3 million North Scottsdale estate behave very differently.
Where can I see Phoenix-area market data by city?
Phoenix REALTORS publishes metro-wide reports by price range and property type. For city-level speed, Homie ranked Phoenix-metro cities by median days on market earlier this year, and a local Homie agent can pull current numbers for your neighborhood and price.
The bottom line
Read the Phoenix housing market by price range and the metro headline stops mattering much. Our take: the $375,000 to $474,999 band is still the place to be, but its supply grew faster than any other band’s over the past year, so sellers there shouldn’t test the market with a high first price.
Find out where your home lands. Get your free home value report and a local agent from Homie Arizona will show you how homes in your price range are actually moving. Whether you’re buying, selling, or doing both, Homie has your back.
— The Homie Team
*Examples are for illustrative purposes only. This article is general information, not legal, tax, lending or insurance advice.
*Market data from Phoenix REALTORS (Housing Supply Overview and Monthly Indicators, September 2026, ARMLS data), ARMLS August 2026 via Homie’s September 22, 2026 leadership report, Realtor.com via FRED (Phoenix metro asking-price and listing data, September 2026) and Freddie Mac (October 8, 2026). All data obtained from sources deemed reliable but not verified. Information not guaranteed.