The central Phoenix neighborhood that spans midtown and uptown posted the biggest increase in home prices during the past year, with a 44.2% jump.
ZIP code 85012, which runs along Central Avenue from Thomas Road north to Glendale Avenue, saw its median home price climb to $724,500 during the year ended Sept. 30, 2026, according to the Arizona Regional Multiple Listing Service. The increase came even as sales in the area fell almost 44% to 18 homes closing during the year.
Several metro Phoenix areas posted double-digit price increases during the past year, even as the Valley’s median home price was flat at $450,000 in September, compared to a year ago, according to the listing service. Home sales in September were down to 5,672 from 6,083 during the same month in 2025.
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The Cromford Report’s senior housing analyst Tina Tamboer said metro Phoenix’s housing market is “meh,” but prices aren’t plummeting.
She said seller concessions are at an all-time high, with more than 59% of Phoenix-area homes closing with seller-funded deals. The average concession for Valley buyers is now more than $10,000 and includes mortgage buydowns. A buydown lowers a buyer’s mortgage interest rate, typically by 2 percentage points.
Almost 49% of all Phoenix-area houses currently for sale have had a price cut, according to the Common Sense Institute.
Valley neighborhoods with the biggest home price increases
ZIP code 85012 led metro Phoenix, with home prices jumping 44% to a median of $724,500.
In the north Phoenix ZIP Code 85054, including the Desert Ridge area, the median home price soared 41% to $927,500 for the year ended in September 2026. Home sales fell 36% to 42 during those 12 months.
North Scottsdale’s ZIP code 85255, home to DC Ranch and Silverleaf, saw its median home price rise 26% to $1.48 million. Home sales were down about 2% to 211 for the year.
Central Scottsdale ZIP code 85250, north of Old Town, also posted a 26% jump. The area’s median price reached $633,500 as home sales fell about 11% to 84.
In Paradise Valley’s ZIP code 85253, the median home price climbed 21% to $3.57 million. Sales in Arizona’s priciest neighborhood were up about 1% to 77 for the year ended in September.
Where did home prices fall the most
Home prices in the central Phoenix ZIP code 85003, where Willo and other historic neighborhoods can be found, plummeted almost 34% to $517,500. Home sales climbed 47% to 28 for the year.
In the central Phoenix ZIP code 85013, home to Phoenix College, the median home price fell 22% to $425,000. Home sales climbed about 18% to 53.
ZIP code 85018, where the Arcadia neighborhood is located, saw its median price fall 21% to $947,246. During the year ended in September, 117 houses sold in the area. That’s up 19.4%.
The south Phoenix ZIP code 85034, home to Phoenix Sky Harbor International Airport, had an almost 20% decrease in its median price to $309,950.
Downtown Tempe’s ZIP code 85281 posted an 18% decline in its median home price to $387,500. Home sales increased 8% to 52 for the year that ended in September.
Reporting by Catherine Reagor, Arizona Republic
