Is 85003, 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, 85003 was a Seller's Market.
Key Takeaway
85003 is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in 85003, AZ
How much do homes in 85003, AZ cost?
Median Sold Price
$675,000
$439/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 85003 have sold for 0.7% more than they did a year ago.
Summary: The median home sold price in 85003 was $675,000 in April 2024, up 0.7% from last year, and the median price per square foot was $439.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $350K | $357.5K | +2.1% |
| 2 Bedrooms | $666.2K | $655K | -1.7% |
| 3 Bedrooms | $787.5K | $800K | +1.6% |
| 4 Bedrooms | $885K | $942.5K | +6.5% |
| 5+ Bedrooms | $990K | $520.4K | -47.4% |
Summary: 85003 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 2.1%, 2 bedroom homes decreased by 1.7%, 3 bedroom homes increased by 1.6%, 4 bedroom homes increased by 6.5%, and 5+ bedroom homes decreased by 47.4%.
Housing Supply in 85003, AZ
How many homes are available in 85003, AZ?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 52 | 52 | 0.0% |
Summary: The 85003 real estate market had 52 homes for sale in April 2024, the same as March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 7 | 7 | 0.0% |
| 2 Bedrooms | 17 | 18 | +5.9% |
| 3 Bedrooms | 18 | 19 | +5.6% |
| 4 Bedrooms | 8 | 5 | -37.5% |
| 5+ Bedrooms | 2 | 3 | +50.0% |
Summary: The 85003 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 increased by 5.9%, 3 bedroom homes increased by 5.6%, 4 bedroom homes decreased by 37.5%, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 12 | 8 | -33.3% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 85003, you may be able to get a good deal. 75% of homes here sold below asking price last month.
Summary: A total of 8 homes were sold or pending in 85003 in April 2024, down by 33.3% month-over-month. Of the 8 sold homes, 75% were sold under asking, 25% were sold at asking, and 0% were sold over asking.
Days on Market for 85003, AZ
How long does it take to sell a home in 85003, AZ?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 33 Days | 115 Days | +247.0% |
Summary: Homes in 85003 had an average of 115 days on market in Apr 2024, up by 247% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in 85003 are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During April 2024, 8 homes were sold in 85003; 13% of homes were sold within 30 days, 38% of homes were sold within 30 to 90 days, and 50% 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.