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Central City Downtown Encanto

PHOENIX, AZ 85007

Real Estate Market Report
Balanced Market
February 2026  ·  Source: Realtor.com

Neighborhoods in ZIP 85007

Central City · Downtown · Encanto

Market Analysis

Data as of February 2026. Source: Realtor.com.

The PHOENIX, AZ real estate market (85007) currently shows 56 active listings, with 14 pending sales. Homes are averaging 57 days on the market before going under contract.

Inventory has increased compared to last year, with 19 more homes available — giving buyers more choice.

Homes are selling faster, averaging 57 days on market compared to 65 days last year.

The median listing price has fallen 16.7% year-over-year, from $718,125 to $598,000.

Whether you are buying or selling in PHOENIX, AZ, SELL123.com can help you save significantly on commission — typically 2% compared to traditional 5% broker fees. Call (240) SELL-123 for a free consultation.

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Market Context

Market Context

Population: 13,939  ·  Density: 1,169.0/mi²  ·  Median household income: $50,490

Typical home value: $358,473  ·  Homeownership: 39.8%

Market Overview

Active Listings
56
⇧ 51.4% vs 37 last year
Pending
14
25% pending ratio
Median Price
$598,000
⇩ 16.7% vs $718,125 last year
Average Price
$735,636
vs $735,545 last year
Days on Market
57
⇩ 12.3% vs 65 days last year

Price Per Square Foot

Median $/sqft
$383
⇧ 2.7% vs $373/sqft last year
Median Home Size
1,779 sqft
Typical listing size
12-Month $/sqft Trend

Market Trends

Inventory & Days on Market

Year over Year
  • Listings: 56 this year vs 37 last year
  • Days on market: 57 now vs 65 last year

Median & Average Pricing

Year over Year
  • Median: $598,000 (-16.7% YoY)
  • Average: $735,636 (+0% YoY)

12-Month Price Trend

Median & Average
  • Median and average listing prices over the past 12 months

12-Month Inventory Trend

Active & Pending
  • Active and pending listing counts over the past 12 months

Historical Trend Charts

Median Price
Average Price
Days on Market
Total Listings
Pending Listings
Active Listings
New Listings
Price Per Sqft
Price Reduced %

Nearby Real Estate Markets

Median Price Legend:
< $250K
$250K–$500K
$500K–$1M
$1M–$2M
> $2M
25 Nearby Zip Code Markets within 7.9 miles — 959 listings ($491,650,122 combined market value)
Zip City / State Distance Listings Market Value Median $ Average $
85007Phoenix, AZ 850070.0 mi53$37,472,537$609,000$707,029
85004Phoenix, AZ 850041.2 mi53$33,662,844$519,900$635,148
85009Phoenix, AZ 850092.1 mi71$24,771,829$314,900$348,899
85034Phoenix, AZ 850344.2 mi13$7,292,870$427,000$560,990
85012Phoenix, AZ 850124.3 mi64$40,171,072$530,000$627,673
85013Phoenix, AZ 850134.4 mi91$51,913,134$430,000$570,474
85017Phoenix, AZ 850174.7 mi70$16,965,200$259,000$242,360
85019Phoenix, AZ 850195.3 mi53$17,574,376$360,000$331,592
85031Phoenix, AZ 850315.6 mi47$14,536,019$342,450$309,277
85043Phoenix, AZ 850436.2 mi85$33,432,370$379,999$393,322
85042Phoenix, AZ 850426.5 mi163$93,196,065$465,000$571,755
85033Phoenix, AZ 850337.7 mi87$27,868,362$342,000$320,326
85021Phoenix, AZ 850217.9 mi109$92,793,444$600,000$851,316

Frequently Asked Questions

How many homes are for sale in PHOENIX, AZ 85007?

As of February 2026, there are 56 active listings in PHOENIX, AZ (zip code 85007), compared to 37 the prior year.

What is the median home price in PHOENIX, AZ 85007?

The median listing price in PHOENIX, AZ 85007 is $598,000 as of February 2026, a 16.7% decrease from $718,125 the prior year.

How long do homes stay on the market in PHOENIX, AZ?

Homes in PHOENIX, AZ 85007 spend an average of 57 days on the market before going under contract, compared to 65 days the prior year.

Is it a seller's or buyer's market in PHOENIX, AZ 85007?

Based on current inventory and days-on-market data as of February 2026, PHOENIX, AZ 85007 is currently a Balanced Market. Inventory has increased compared to last year, with 19 more homes available — giving buyers more choice. Homes are selling faster, averaging 57 days on market compared to 65 days last year.

How much can I save on real estate commission in PHOENIX, AZ?

With SELL123.com's maximum 3% commission, sellers in PHOENIX, AZ 85007 save an estimated $11,960 compared to a typical 5% commission on the median listing price of $598,000. Our fee structure: 1% listing + 2% selling broker — no additional buyer or seller fees. Call (240) SELL-123 or email info@SELL123.com for a free consultation.