Is 85048, AZ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since February 2023
Since last year, 85048 has remained a Seller's Market.
Housing Prices in 85048, AZ
How much do homes in 85048, AZ cost?
Median Sold Price
$573,000
$288/sqft
Based on all homes sold in the last 12 months.
Difference Since February 2023
Summary: The median home sold price in 85048 was $573,000 in February 2024, down 2.1% from last year, and the median price per square foot was $288.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Feb 2023 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $265K | $251K | -5.3% |
2 Bedrooms | $337.5K | $310.5K | -8.0% |
3 Bedrooms | $505K | $518K | +2.6% |
4 Bedrooms | $690K | $647.5K | -6.2% |
5+ Bedrooms | $825K | $785K | -4.8% |
Summary: 85048 housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 5.3%, 2 bedroom homes decreased by 8%, 3 bedroom homes increased by 2.6%, 4 bedroom homes decreased by 6.2%, and 5+ bedroom homes decreased by 4.8%.
Housing Supply in 85048, AZ
How many homes are available in 85048, AZ?
Number of Homes For Sale
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
119 | 127 | +6.7% |
Summary: The 85048 real estate market had 127 homes for sale in February 2024, a 6.7% increase compared to January 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Jan 2024 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 4 | 6 | +50.0% |
2 Bedrooms | 8 | 8 | 0.0% |
3 Bedrooms | 41 | 48 | +17.1% |
4 Bedrooms | 40 | 36 | -10.0% |
5+ Bedrooms | 26 | 29 | +11.5% |
Summary: The 85048 housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 50%, 2 bedroom homes remained the same, 3 bedroom homes increased by 17.1%, 4 bedroom homes decreased by 10%, and 5+ bedroom homes increased by 11.5%.
Number of Homes Sold
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
24 | 34 | +41.7% |
Asking Price vs. Sold Price
16 Homes Were Sold
Under Asking
13 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Summary: A total of 34 homes were sold or pending in 85048 in February 2024, up by 41.7% month-over-month. Of the 34 sold homes, 47% were sold under asking, 38% were sold at asking, and 15% were sold over asking.
Days on Market for 85048, AZ
How long does it take to sell a home in 85048, AZ?
Average Sale Time
Feb 2023 | Feb 2024 | CHANGE |
---|---|---|
84 Days | 47 Days | -44.1% |
Summary: Homes in 85048 had an average of 47 days on market in Feb 2024, down by 44.1% compared to last year.
Breakdown of Home Sale Times
16 Homes Were Sold
Under 30 Days
13 Homes Were Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Summary: During February 2024, 34 homes were sold in 85048; 47% of homes were sold within 30 days, 38% of homes were sold within 30 to 90 days, and 15% of homes were sold over 90 days.