Is Rio Rico, 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, Rio Rico was a Neutral 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
$280,000
$171/sqft
Based on all homes sold in the last 12 months.
Difference Since May 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 $280,000 in May 2024, down 0.4% from last year, and the median price per square foot was $171.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $247.4K | $237.5K | -4.0% |
| 3 Bedrooms | $278K | $285K | +2.5% |
| 4 Bedrooms | $372.5K | $277.5K | -25.5% |
| 5+ Bedrooms | - | - | N/A |
Summary: Rio Rico 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 4%, 3 bedroom homes increased by 2.5%, 4 bedroom homes decreased by 25.5%, 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
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 101 | 135 | +33.7% |
Summary: The Rio Rico real estate market had 135 homes for sale in May 2024, a 33.7% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 4 | 7 | +75.0% |
| 3 Bedrooms | 75 | 97 | +29.3% |
| 4 Bedrooms | 22 | 30 | +36.4% |
| 5+ Bedrooms | 0 | 1 | +100.0% |
Summary: The Rio Rico housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 75%, 3 bedroom homes increased by 29.3%, 4 bedroom homes increased by 36.4%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 2 | 5 | +150.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Rio Rico, you may be able to get a good deal. 60% of homes here sold below asking price last month.
Summary: A total of 5 homes were sold or pending in Rio Rico in May 2024, up by 150.0% month-over-month. Of the 5 sold homes, 60% were sold under asking, 20% were sold at asking, and 20% 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
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 34 Days | 69 Days | +103.5% |
Summary: Homes in Rio Rico had an average of 69 days on market in May 2024, up by 103.5% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Rio Rico has remained consistent over time.
Summary: During May 2024, 5 homes were sold in Rio Rico; 20% of homes were sold within 30 days, 60% of homes were sold within 30 to 90 days, and 20% of homes were sold over 90 days.
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