Is 85051, 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, 85051 has remained a Seller's Market.
Housing Prices in 85051, AZ
How much do homes in 85051, AZ cost?
Median Sold Price
$350,000
$229/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in 85051 was $350,000 in March 2024, up 2.9% from last year, and the median price per square foot was $229.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $180K | $185K | +2.8% |
2 Bedrooms | $210K | $225K | +7.1% |
3 Bedrooms | $344.5K | $350K | +1.6% |
4 Bedrooms | $390K | $399K | +2.3% |
5+ Bedrooms | $410K | $442K | +7.8% |
Summary: 85051 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 2.8%, 2 bedroom homes increased by 7.1%, 3 bedroom homes increased by 1.6%, 4 bedroom homes increased by 2.3%, and 5+ bedroom homes increased by 7.8%.
Housing Supply in 85051, AZ
How many homes are available in 85051, AZ?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
112 | 128 | +14.3% |
Summary: The 85051 real estate market had 128 homes for sale in March 2024, a 14.3% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 3 | 5 | +66.7% |
2 Bedrooms | 24 | 24 | 0.0% |
3 Bedrooms | 54 | 66 | +22.2% |
4 Bedrooms | 25 | 26 | +4.0% |
5+ Bedrooms | 6 | 7 | +16.7% |
Summary: The 85051 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 66.7%, 2 bedroom homes remained the same, 3 bedroom homes increased by 22.2%, 4 bedroom homes increased by 4%, and 5+ bedroom homes increased by 16.7%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
26 | 35 | +34.6% |
Asking Price vs. Sold Price
19 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
9 Homes Were Sold
Over Asking
Summary: A total of 35 homes were sold or pending in 85051 in March 2024, up by 34.6% month-over-month. Of the 35 sold homes, 54% were sold under asking, 20% were sold at asking, and 26% were sold over asking.
Days on Market for 85051, AZ
How long does it take to sell a home in 85051, AZ?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
56 Days | 54 Days | -4.5% |
Summary: Homes in 85051 had an average of 54 days on market in Mar 2024, down by 4.5% compared to last year.
Breakdown of Home Sale Times
12 Homes Were Sold
Under 30 Days
16 Homes Were Sold
In 30 - 90 Days
7 Homes Were Sold
Over 90 Days
Summary: During March 2024, 35 homes were sold in 85051; 34% of homes were sold within 30 days, 46% of homes were sold within 30 to 90 days, and 20% of homes were sold over 90 days.