Is 85119, AZ a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 85119 is a seller's market

Buyer's
Market

Difference Since February 2023

Since last year, 85119 has remained a Seller's Market.

Key Takeaway

85119 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 85119, AZ

How much do homes in 85119, AZ cost?

Median Sold Price

$480,000

$275/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

+$40,050(+9.1%)

Key Takeaway

Homes in 85119 have sold for 9.1% more than they did a year ago.

Summary: The median home sold price in 85119 was $480,000 in February 2024, up 9.1% from last year, and the median price per square foot was $275.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 $130.9K$132K
+0.8%
2 $397K$341.2K
-14.0%
3 $430K$475K
+10.5%
4 $465.9K$604.9K
+29.8%
5+ $672K$559.7K
-16.7%

Summary: 85119 housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes increased by 0.8%, 2 bedroom homes decreased by 14%, 3 bedroom homes increased by 10.5%, 4 bedroom homes increased by 29.8%, and 5+ bedroom homes decreased by 16.7%.

Median Sold Price Compared To Nearby Zip Codes

85119
+9.1%
85120
+0.8%
85118
-3.2%
85140
-7.9%

Housing Supply in 85119, AZ

How many homes are available in 85119, AZ?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
6480+25.0%

Summary: The 85119 real estate market had 80 homes for sale in February 2024, a 25.0% increase compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 35
+66.7%
2 35
+66.7%
3 3440
+17.6%
4 1923
+21.1%
5+ 57
+40.0%

Summary: The 85119 housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 66.7%, 2 bedroom homes increased by 66.7%, 3 bedroom homes increased by 17.6%, 4 bedroom homes increased by 21.1%, and 5+ bedroom homes increased by 40%.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
1014+40.0%

Asking Price vs. Sold Price

7 Homes Were Sold
Under Asking

4 Homes Were Sold
At Asking

3 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 85119, you may be able to get a good deal. 50% of homes here sold below asking price last month.

Summary: A total of 14 homes were sold or pending in 85119 in February 2024, up by 40.0% month-over-month. Of the 14 sold homes, 50% were sold under asking, 29% were sold at asking, and 21% were sold over asking.

Days on Market for 85119, AZ

How long does it take to sell a home in 85119, AZ?

Average Sale Time

Feb 2023Feb 2024CHANGE
70 Days67 Days-5.0%

Summary: Homes in 85119 had an average of 67 days on market in Feb 2024, down by 5% compared to last year.

Breakdown of Home Sale Times

4 Homes Were Sold
Under 30 Days

4 Homes Were Sold
In 30 - 90 Days

6 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Most homes in 85119 are taking a long time to sell, it's a good idea to negotiate on homes here.

Summary: During February 2024, 14 homes were sold in 85119; 29% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 43% 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 85119, AZ

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