Published October 11, 2026 in Market Update

North Phoenix listings rose, but buyers kept pace

By Vanessa Aragon

Real estate, North Phoenix

These numbers cover the three months ending August 31, 2026. The Real Estate Data Aggregator counted 1,277 new listings across North Phoenix, up 7.5% from the same period in 2025. That is more competition for every seller. But pending sales rose 2.7% at the same time, to 1,198. Buyers are still active. That means pricing and preparation matter more than they did last year.

More listings and more buyers sounds balanced. It is, mostly. But the gap between them tells you something. Supply grew faster than demand. That puts a little more pressure on sellers to price carefully. A home priced too high now has more neighbors to compete with.

Rents fell, which keeps some renters renting

Realtor.com reported that Phoenix-Mesa-Chandler rents fell 3.2% year over year in August 2026, to a median asking rent of $1,431. When renting gets cheaper, some people who might have bought choose to stay put. That is a small headwind for sellers, worth knowing about.

Mortgage rates add another layer

CNBC reported the average 30-year fixed mortgage rate rose to 7.49% as of October 7, 2026. That is not a small number. It squeezes what buyers can afford. Sellers who price at the top of the range may find fewer offers than they expect.

How each ZIP code read in the same period

The area-wide numbers tell one story. The ZIP codes tell several. Some moved faster than others. Some saw prices rise while others dipped. Here is a quick look.

The fastest ZIP and the slowest ZIP

ZIP 85024 stood out. The Real Estate Data Aggregator counted a median of 33 days on market there, 16 days shorter than the same period a year before. Pending sales rose 50%. Nearly 44 in 100 homes went under contract within two weeks of listing. That is a different experience from ZIP 85085, where the median sat at 84 days, 8 days longer than last year.

Where prices rose and where they dipped

Not every ZIP moved the same way. The Real Estate Data Aggregator showed 85024 up 19.6% and 85050 up 16.9% year over year. Meanwhile, 85028 dipped 8.2% and 85022 dipped 8.1%. Most ZIPs stayed close to flat. A small dip does not mean a home will not sell. It means the price has to be honest.

Buyers are still writing offers

The Real Estate Data Aggregator counted 1,096 homes sold across North Phoenix in the three months ending August 31, 2026. That is up 2.8% from the same period in 2025. Homes for sale rose 2.3%, to 1,257. Supply and demand grew at nearly the same pace. That is not a runaway market in either direction. It is a market where the right price still finds a buyer.

One more thing worth saying: the area-wide numbers are a starting point. One street can read very differently from the whole ZIP code. The Federal Housing Finance Agency put national year-over-year price growth at 2.6% through July 2026. North Phoenix has ZIP codes running from nearly plus 20% to minus 8%. Your block may be its own story.