Is 85050, AZ a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 85050 is a seller's market

Buyer's
Market

Difference Since February 2023

Since last year, 85050 has remained a Seller's Market.

Key Takeaway

85050 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 85050, AZ

How much do homes in 85050, AZ cost?

Median Sold Price

$593,437

$320/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

-$2,112(-0.4%)

Key Takeaway

The sold price of homes in 85050 has remained the same since last year.

Summary: The median home sold price in 85050 was $593,437 in February 2024, down 0.4% from last year, and the median price per square foot was $320.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 --
N/A
2 $465K$432.5K
-7.0%
3 $541.5K$545K
+0.6%
4 $750K$800K
+6.7%
5+ $1.1M$1.0M
-1.0%

Summary: 85050 housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 7%, 3 bedroom homes increased by 0.6%, 4 bedroom homes increased by 6.7%, and 5+ bedroom homes decreased by 1%.

Median Sold Price Compared To Nearby Zip Codes

85054
+6.6%
85050
-0.4%
85024
-5.3%
85032
-6.1%
85254
-7.7%

Housing Supply in 85050, AZ

How many homes are available in 85050, AZ?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
116122+5.2%

Summary: The 85050 real estate market had 122 homes for sale in February 2024, a 5.2% increase compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 00
0.0%
2 1112
+9.1%
3 5251
-1.9%
4 4142
+2.4%
5+ 1217
+41.7%

Summary: The 85050 housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 9.1%, 3 bedroom homes decreased by 1.9%, 4 bedroom homes increased by 2.4%, and 5+ bedroom homes increased by 41.7%.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
2841+46.4%

Asking Price vs. Sold Price

24 Homes Were Sold
Under Asking

14 Homes Were Sold
At Asking

3 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 85050, you may be able to get a good deal. 58.5% of homes here sold below asking price last month.

Summary: A total of 41 homes were sold or pending in 85050 in February 2024, up by 46.4% month-over-month. Of the 41 sold homes, 59% were sold under asking, 34% were sold at asking, and 7% were sold over asking.

Days on Market for 85050, AZ

How long does it take to sell a home in 85050, AZ?

Average Sale Time

Feb 2023Feb 2024CHANGE
77 Days83 Days+7.6%

Summary: Homes in 85050 had an average of 83 days on market in Feb 2024, up by 7.6% compared to last year.

Breakdown of Home Sale Times

14 Homes Were Sold
Under 30 Days

12 Homes Were Sold
In 30 - 90 Days

15 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Most homes in 85050 are taking a long time to sell, it's a good idea to negotiate on homes here.

Summary: During February 2024, 41 homes were sold in 85050; 34% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 37% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 28 Days Ago

Newest Listings in 85050, AZ

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