Phoenix AZ September 2026 Housing Market Report: More Listings Give Buyers More Choices

The Phoenix AZ, Arizona housing market continued to shift in September 2026, with more homes coming onto the market while prices moved lower compared with September 2025. The latest data shows a decrease in closed sales and sold prices, a significant increase in new listings, and fewer days on market.

For Phoenix buyers, the combination of increased listing activity and lower prices may create more opportunities to shop and negotiate. For sellers, the numbers reinforce the importance of competitive pricing and making a home stand out in an increasingly active listing environment.

Whether you’re considering buying, selling, or investing in Phoenix real estate, understanding the latest market trends can help you make informed decisions. Here is a closer look at the key Phoenix housing market trends from September 2026. Be sure to contact Swee Ng Realtor®, if you have any questions about this report or about how the market is performing. This report includes MLS data for the past 12 months for Phoenix AZ as 10/5/2026, provided by the FlexMLS system.

Phoenix Home Sales Declined 4.2%

There were 759 homes sold in Phoenix during September 2026, compared with 792 homes sold in September 2025. That represents a 4.2% year-over-year decrease in closed sales.

The decline in completed sales indicates that overall transaction activity was somewhat slower than it was a year earlier.

For buyers, slower sales activity can potentially mean less pressure to make an immediate decision. Buyers may have additional time to compare properties, evaluate neighborhoods, and negotiate terms.

However, market conditions can vary substantially from one Phoenix neighborhood to another. A well-priced home in a desirable location may still attract significant attention even when the overall market is experiencing slower sales.

Median Sold Price Falls to $485,000

The median sold price in September 2026 was $485,000, down from $500,000 in September 2025. This represents a 3.0% year-over-year decline.

This is an important development for Phoenix homebuyers who have been watching affordability.

The median sold price represents the midpoint of all reported sales, meaning half of the homes sold for more and half sold for less. It does not necessarily represent the value of a particular home or neighborhood.

Still, the year-over-year decline suggests that buyers were generally purchasing homes at lower median prices than they were one year earlier.

For homeowners considering selling, this makes accurate pricing particularly important. Overpricing a property can make it less competitive when buyers have more alternatives available.

Average Sold Price Drops 4.3%

The average Phoenix home sale price declined from $637,489 in September 2025 to $610,260 in September 2026, a 4.3% decrease.

The average price can be influenced by the mix of homes that sell during a particular month, particularly higher-priced properties. Therefore, both average and median prices should be considered when evaluating the broader market.

The September numbers show that both measures moved lower year over year, indicating that the overall price environment was softer than it was in September 2025.

New Listings Jump 13.3%

One of the most significant changes in the September Phoenix market was the increase in new listings.

Phoenix recorded 1,205 new listings in September 2026, compared with 1,064 in September 2025. That represents a substantial 13.3% increase.

More new listings give buyers more choices.

This could be especially beneficial for buyers who are searching within a specific price range or looking for particular features. With more properties entering the market, buyers may have greater flexibility when comparing homes.

For sellers, however, increased competition means presentation and pricing matter. A home that is priced correctly and marketed effectively can have an advantage over competing listings.

Homes Are Selling Faster

Despite the increase in available listings, the average days on market decreased from 78 days in September 2025 to 71 days in September 2026. That represents a 9.0% improvement.

This is an interesting aspect of the September market.

While fewer homes closed and more new listings entered the market, the average time on market decreased. This suggests that homes that successfully attracted buyers were moving through the market somewhat faster than a year ago.

For sellers, this is encouraging — but it does not mean every property will sell quickly. Pricing, condition, location, and buyer demand can all affect how long an individual property remains on the market.

Price Per Square Foot Remains Unchanged

The average sold price per square foot was $301 in both September 2025 and September 2026, resulting in 0% year-over-year change.

This stability is noteworthy because it suggests that, despite lower median and average sale prices, the average price per square foot remained unchanged.

Price per square foot can be useful when comparing similar homes, but it should not be used by itself to determine market value. Differences in neighborhood, lot size, floor plan, age, upgrades, and condition can produce significant variations between properties.

Phoenix Luxury Homes Market Activity

The September 2026 report also shows a wide range of home prices.

The lowest-priced home sold for $170,000, while the highest-priced sale reached $3.85 million. There were 69 homes sold for more than $1 million during September.

Compared with September 2025, the number of $1 million-plus sales declined from 85 to 69. This reflects a lower level of reported high-end sales during the month.

Most Expensive Home Sold in Phoenix in September 2026

The most expensive home sold in the Phoenix in September 2026 is located in Acadia, Phoenix zip code 85018, sold for $3,850,000. The 4,670 square feet home sits on about 22,146 square feet lot features 5 bedrooms, 5 bathrooms, 1 half bathrooms, 4 car garage, private pool.

What Does the September 2026 Phoenix Market Mean for You?

Overall, the September 2026 Phoenix housing market showed a combination of lower prices, fewer closed sales, significantly more new listings, and faster average market times.

For buyers, the 13.3% increase in new listings is particularly important. More inventory can provide additional choices and potentially more negotiating opportunities.

For sellers, the market remains active, but strategy is critical. Competitive pricing, strong presentation, and effective marketing can help a property compete successfully against the growing number of listings.

The most important takeaway is that Phoenix is not one single market. Conditions can differ significantly by neighborhood, property type, price range, and individual home.

If you’re considering buying or selling a Phoenix home in 2026, citywide statistics are a useful starting point—but a property-specific market analysis can provide a much clearer picture of your particular opportunity.

Thinking about buying or selling in Phoenix? Understanding the latest market data can help you make a more informed decision and build a strategy around current conditions.

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