Is 85016, AZ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, 85016 has remained a Seller's Market.
Housing Prices in 85016, AZ
How much do homes in 85016, AZ cost?
Median Sold Price
$554,962
$359/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in 85016 was $554,962 in March 2024, up 3.7% from last year, and the median price per square foot was $359.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $256K | $266.1K | +4.0% |
2 Bedrooms | $399.5K | $404.9K | +1.4% |
3 Bedrooms | $597.5K | $630K | +5.4% |
4 Bedrooms | $830.3K | $922K | +11.0% |
5+ Bedrooms | $950K | $1.0M | +10.5% |
Summary: 85016 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 4%, 2 bedroom homes increased by 1.4%, 3 bedroom homes increased by 5.4%, 4 bedroom homes increased by 11%, and 5+ bedroom homes increased by 10.5%.
Housing Supply in 85016, AZ
How many homes are available in 85016, AZ?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
226 | 255 | +12.8% |
Summary: The 85016 real estate market had 255 homes for sale in March 2024, a 12.8% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 18 | 20 | +11.1% |
2 Bedrooms | 68 | 86 | +26.5% |
3 Bedrooms | 80 | 85 | +6.3% |
4 Bedrooms | 41 | 46 | +12.2% |
5+ Bedrooms | 19 | 18 | -5.3% |
Summary: The 85016 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 11.1%, 2 bedroom homes increased by 26.5%, 3 bedroom homes increased by 6.3%, 4 bedroom homes increased by 12.2%, and 5+ bedroom homes decreased by 5.3%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
39 | 52 | +33.3% |
Asking Price vs. Sold Price
38 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Summary: A total of 52 homes were sold or pending in 85016 in March 2024, up by 33.3% month-over-month. Of the 52 sold homes, 73% were sold under asking, 13% were sold at asking, and 13% were sold over asking.
Days on Market for 85016, AZ
How long does it take to sell a home in 85016, AZ?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
69 Days | 121 Days | +74.8% |
Summary: Homes in 85016 had an average of 121 days on market in Mar 2024, up by 74.8% compared to last year.
Breakdown of Home Sale Times
9 Homes Were Sold
Under 30 Days
22 Homes Were Sold
In 30 - 90 Days
21 Homes Were Sold
Over 90 Days
Summary: During March 2024, 52 homes were sold in 85016; 17% of homes were sold within 30 days, 42% of homes were sold within 30 to 90 days, and 40% of homes were sold over 90 days.