Is Rio Rico, AZ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, Rio Rico was a Seller's Market.
Key Takeaway
Rio Rico is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Rio Rico, AZ
How much do homes in Rio Rico, AZ cost?
Median Sold Price
$282,500
$171/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
The sold price of homes in Rio Rico has remained the same since last year.
Summary: The median home sold price in Rio Rico was $282,500 in April 2024, up 0.4% from last year, and the median price per square foot was $171.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $247.4K | $265K | +7.1% |
| 3 Bedrooms | $274.5K | $287.5K | +4.7% |
| 4 Bedrooms | $372.5K | $270K | -27.5% |
| 5+ Bedrooms | - | - | N/A |
Summary: Rio Rico housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 7.1%, 3 bedroom homes increased by 4.7%, 4 bedroom homes decreased by 27.5%, and 5+ bedroom homes did not change.
Housing Supply in Rio Rico, AZ
How many homes are available in Rio Rico, AZ?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 93 | 121 | +30.1% |
Summary: The Rio Rico real estate market had 121 homes for sale in April 2024, a 30.1% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 5 | 4 | -20.0% |
| 3 Bedrooms | 68 | 91 | +33.8% |
| 4 Bedrooms | 19 | 25 | +31.6% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Rio Rico housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 20%, 3 bedroom homes increased by 33.8%, 4 bedroom homes increased by 31.6%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 5 | 2 | -60.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Rio Rico, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 2 homes were sold or pending in Rio Rico in April 2024, down by 60.0% month-over-month. Of the 2 sold homes, 50% were sold under asking, 50% were sold at asking, and 0% were sold over asking.
Days on Market for Rio Rico, AZ
How long does it take to sell a home in Rio Rico, AZ?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 103 Days | 201 Days | +95.0% |
Summary: Homes in Rio Rico had an average of 201 days on market in Apr 2024, up by 95% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in Rio Rico are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During April 2024, 2 homes were sold in Rio Rico; 0% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 100% of homes were sold over 90 days.
The data relating to real estate listings on this website comes in part from the Internet Data Exchange (IDX) program of Multiple Listing Service of Southern Arizona. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Listings provided by brokerages other than this broker are identified with the MLSSAZ IDX Logo. All Information Is Deemed Reliable But Is Not Guaranteed Accurate. Listing information Copyright 2024 MLS of Southern Arizona. All Rights Reserved.
The data relating to real estate for sale on this site comes from the Broker Reciprocity/IDX of Arizona Regional Multiple Listing Service, Inc. Indicates a property listed by a real estate brokerage other than Rocket Homes Real Estate, LLC. All information should be verified by the recipient and none is guaranteed as accurate by ARMLS. No warranties, expressed or implied, are provided for the data herein, or for their use or interpretation by the user. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Arizona Regional Multiple Listing Service, Inc. do not create, control or review the property data displayed herein and take no responsibility for the content of such records. Federal law prohibits discrimination on the basis of race, color, religion, sex, handicap, familial status or national origin in the sale, rental or financing of housing. Information deemed reliable but not guaranteed. Copyright© 2024 Arizona Regional Multiple Listing Service, Inc. All Rights Reserved.