Is 85248, AZ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, 85248 has remained a Seller's Market.
Key Takeaway
85248 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 85248, AZ
How much do homes in 85248, AZ cost?
Median Sold Price
$545,000
$278/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in 85248 have sold for 1.6% more than they did a year ago.
Summary: The median home sold price in 85248 was $545,000 in May 2024, up 1.6% from last year, and the median price per square foot was $278.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $395K | $380K | -3.8% |
| 2 Bedrooms | $450K | $446.6K | -0.8% |
| 3 Bedrooms | $564.3K | $580K | +2.8% |
| 4 Bedrooms | $724.9K | $770K | +6.2% |
| 5+ Bedrooms | $910K | $940K | +3.3% |
Summary: 85248 housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 3.8%, 2 bedroom homes decreased by 0.8%, 3 bedroom homes increased by 2.8%, 4 bedroom homes increased by 6.2%, and 5+ bedroom homes increased by 3.3%.
Housing Supply in 85248, AZ
How many homes are available in 85248, AZ?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 297 | 265 | -10.8% |
Summary: The 85248 real estate market had 265 homes for sale in May 2024, a 10.8% decrease compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 4 | +33.3% |
| 2 Bedrooms | 132 | 103 | -22.0% |
| 3 Bedrooms | 103 | 94 | -8.7% |
| 4 Bedrooms | 45 | 46 | +2.2% |
| 5+ Bedrooms | 14 | 18 | +28.6% |
Summary: The 85248 housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 33.3%, 2 bedroom homes decreased by 22%, 3 bedroom homes decreased by 8.7%, 4 bedroom homes increased by 2.2%, and 5+ bedroom homes increased by 28.6%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 92 | 93 | +1.1% |
Asking Price vs. Sold Price
55 Homes Were Sold
Under Asking
21 Homes Were Sold
At Asking
17 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 85248, you may be able to get a good deal. 59.1% of homes here sold below asking price last month.
Summary: A total of 93 homes were sold or pending in 85248 in May 2024, up by 1.1% month-over-month. Of the 93 sold homes, 59% were sold under asking, 23% were sold at asking, and 18% were sold over asking.
Days on Market for 85248, AZ
How long does it take to sell a home in 85248, AZ?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 67 Days | 53 Days | -21.4% |
Summary: Homes in 85248 had an average of 53 days on market in May 2024, down by 21.4% compared to last year.
Breakdown of Home Sale Times
39 Homes Were Sold
Under 30 Days
35 Homes Were Sold
In 30 - 90 Days
19 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 85248 are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 93 homes were sold in 85248; 42% of homes were sold within 30 days, 38% of homes were sold within 30 to 90 days, and 20% of homes were sold over 90 days.
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.