Is Benson, AZ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Benson was a Neutral Market.
Key Takeaway
Benson is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Benson, AZ
How much do homes in Benson, AZ cost?
Median Sold Price
$285,000
$176/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Benson have sold for 9.6% more than they did a year ago.
Summary: The median home sold price in Benson was $285,000 in May 2024, up 9.6% from last year, and the median price per square foot was $176.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $127.5K | - | N/A |
| 2 Bedrooms | $295K | $204.2K | -30.8% |
| 3 Bedrooms | $252.9K | $266.9K | +5.5% |
| 4 Bedrooms | $280K | $378.1K | +35.1% |
| 5+ Bedrooms | $415K | $285K | -31.3% |
Summary: Benson housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 30.8%, 3 bedroom homes increased by 5.5%, 4 bedroom homes increased by 35.1%, and 5+ bedroom homes decreased by 31.3%.
Housing Supply in Benson, AZ
How many homes are available in Benson, AZ?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 45 | 58 | +28.9% |
Summary: The Benson real estate market had 58 homes for sale in May 2024, a 28.9% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 0 | 2 | +100.0% |
| 3 Bedrooms | 29 | 38 | +31.0% |
| 4 Bedrooms | 12 | 13 | +8.3% |
| 5+ Bedrooms | 4 | 4 | 0.0% |
Summary: The Benson housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 100%, 3 bedroom homes increased by 31%, 4 bedroom homes increased by 8.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 8 | 6 | -25.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Benson, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 6 homes were sold or pending in Benson in May 2024, down by 25.0% month-over-month. Of the 6 sold homes, 50% were sold under asking, 50% were sold at asking, and 0% were sold over asking.
Days on Market for Benson, AZ
How long does it take to sell a home in Benson, AZ?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 57 Days | 117 Days | +104.9% |
Summary: Homes in Benson had an average of 117 days on market in May 2024, up by 104.9% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in Benson are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During May 2024, 6 homes were sold in Benson; 17% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 67% of homes were sold over 90 days.
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