In September 2026, Greater Phoenix's median single-family price was $475,000, down 2.1% from a year earlier, while days on market held near 77 and inventory rose 6.7%.

A client texted me after seeing a headline about "40% fewer pending sales" and wrote, "Should I be worried?" It's the right instinct to look closer, because the headline number is real, and so is the rest of the picture.

Here are the September numbers from Phoenix REALTORS® data for single-family homes, as reported in Greater Phoenix In Business.

What Did Prices Do?

The September median sale price was $475,000, down about 2.1% from nearly $485,000 a year earlier. Year to date through September, the median is $482,000, up slightly from $480,000, so across the first nine months prices are essentially flat.

How Long Are Homes Taking to Sell?

September days on market averaged 77, compared with 79 a year earlier. Year to date, it's 78 days versus 74 last year. That's a modest slowdown over the year, not a sharp change. Homes were selling at about 98.1% of list price, unchanged from a year ago.

What About Inventory?

Inventory rose 6.7% year over year, and months' supply was 4.3, up from 4.0. In plain terms, buyers have somewhat more choice than they did a year ago.

What About That Pending Sales Headline?

Pending sales were down 40.1% in September compared with a year earlier, while closed sales were down 4.9%. Last month's data through August showed a similar dip, and the report described the summer as seasonally soft. Pending sales count contracts signed, so they tend to show up in closed sales a month or two later; it's worth watching October and November closings to see how it plays out.

How Are West Valley Cities Doing?

Two West Valley examples from the same report: Avondale's median price was $419,190 year to date, up 0.3% from $418,000, and Surprise's was $430,990, flat over the first nine months. Both cities saw sharp September drops in pending sales, in line with the metro.

What Should Buyers and Sellers Do With This?

For buyers: more inventory and a bit more time generally mean more room to inspect, compare, and negotiate. For sellers: pricing accurately from day one matters more when buyers have choices, and homes that are priced and presented well are still selling close to list price. Metro numbers are a backdrop, and your street and price range decide your result.

Frequently Asked Questions

What was the median home price in Greater Phoenix in September 2026? Phoenix REALTORS® reported a September median single-family price of $475,000, down about 2.1% from a year earlier, with a year-to-date median of $482,000.

How long are homes taking to sell in Greater Phoenix? September days on market averaged 77, compared with 79 a year earlier; year to date it's 78 days, up from 74.

Did pending sales really fall 40% in September? Yes, pending sales were down 40.1% from a year earlier, while closed sales were down 4.9%; one month isn't a trend, so I'm watching October and November.

How are Avondale and Surprise doing? Avondale's year-to-date median was $419,190 (up 0.3%) and Surprise's was $430,990 (flat), per the same report.

If you'd like these numbers for your own neighborhood and price range, I'm happy to pull them — a short conversation, no obligation.

This content is provided for informational purposes only and does not constitute legal or financial advice. All real estate services are provided in compliance with Fair Housing laws, RESPA, TCPA, the REALTOR® Code of Ethics, and Arizona Department of Real Estate advertising regulations. Equal Housing Opportunity. Gracie Vega, Realty One Group, AZ License #SA514613000.

Gracie Vega
Realty One Group
License #SA514613000
602.348.8773
gracie@vegarealestate.com

Gracie Vega is an experienced Arizona real estate professional with The Vega Real Estate Group at Realty ONE Group, serving Phoenix and the West Valley, including Glendale, Peoria, Surprise, Buckeye, Goodyear, Avondale, and Tolleson.

Whether you're buying your first home, selling a property, exploring new construction, or relocating to Arizona, Gracie provides local real estate guidance in English and Spanish.

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