Is 85040, 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, 85040 has remained a Seller's Market.
Housing Prices in 85040, AZ
How much do homes in 85040, AZ cost?
Median Sold Price
$345,000
$249/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in 85040 was $345,000 in March 2024, down 1.8% from last year, and the median price per square foot was $249.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $270K | $92.5K | -65.7% |
2 Bedrooms | $210.7K | $213K | +1.1% |
3 Bedrooms | $345K | $345K | 0.0% |
4 Bedrooms | $400K | $405K | +1.3% |
5+ Bedrooms | $536K | $350K | -34.7% |
Summary: 85040 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 65.7%, 2 bedroom homes increased by 1.1%, 3 bedroom homes did not change, 4 bedroom homes increased by 1.3%, and 5+ bedroom homes decreased by 34.7%.
Housing Supply in 85040, AZ
How many homes are available in 85040, AZ?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
72 | 75 | +4.2% |
Summary: The 85040 real estate market had 75 homes for sale in March 2024, a 4.2% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 2 | 2 | 0.0% |
2 Bedrooms | 10 | 9 | -10.0% |
3 Bedrooms | 38 | 45 | +18.4% |
4 Bedrooms | 18 | 15 | -16.7% |
5+ Bedrooms | 4 | 4 | 0.0% |
Summary: The 85040 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 10%, 3 bedroom homes increased by 18.4%, 4 bedroom homes decreased by 16.7%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
20 | 21 | +5.0% |
Asking Price vs. Sold Price
15 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Summary: A total of 21 homes were sold or pending in 85040 in March 2024, up by 5.0% month-over-month. Of the 21 sold homes, 71% were sold under asking, 19% were sold at asking, and 10% were sold over asking.
Days on Market for 85040, AZ
How long does it take to sell a home in 85040, AZ?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
68 Days | 41 Days | -39.9% |
Summary: Homes in 85040 had an average of 41 days on market in Mar 2024, down by 39.9% compared to last year.
Breakdown of Home Sale Times
9 Homes Were Sold
Under 30 Days
9 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Summary: During March 2024, 21 homes were sold in 85040; 43% of homes were sold within 30 days, 43% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.