Is 85122, AZ a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 85122 is a buyer's market

Buyer's
Market

Difference Since February 2023

At the same time last year, 85122 was a Seller's Market.

Key Takeaway

85122 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in 85122, AZ

How much do homes in 85122, AZ cost?

Median Sold Price

$334,997

$183/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

-$20,002(-5.6%)

Key Takeaway

Homes in 85122 have sold for 5.6% less than they did a year ago.

Summary: The median home sold price in 85122 was $334,997 in February 2024, down 5.6% from last year, and the median price per square foot was $183.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 $80K$111.5K
+39.4%
2 $269.9K$270K
0.0%
3 $332.3K$315.9K
-4.9%
4 $384.9K$349.9K
-9.1%
5+ $414.8K$388.4K
-6.4%

Summary: 85122 housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes increased by 39.4%, 2 bedroom homes did not change, 3 bedroom homes decreased by 4.9%, 4 bedroom homes decreased by 9.1%, and 5+ bedroom homes decreased by 6.4%.

Median Sold Price Compared To Nearby Zip Codes

85122
-5.6%
85193
-16.0%
85194
-18.6%

Housing Supply in 85122, AZ

How many homes are available in 85122, AZ?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
346391+13.0%

Summary: The 85122 real estate market had 391 homes for sale in February 2024, a 13.0% increase compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 00
0.0%
2 3435
+2.9%
3 139165
+18.7%
4 142155
+9.2%
5+ 3136
+16.1%

Summary: The 85122 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 2.9%, 3 bedroom homes increased by 18.7%, 4 bedroom homes increased by 9.2%, and 5+ bedroom homes increased by 16.1%.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
5449-9.3%

Asking Price vs. Sold Price

27 Homes Were Sold
Under Asking

16 Homes Were Sold
At Asking

6 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 85122, you may be able to get a good deal. 55.1% of homes here sold below asking price last month.

Summary: A total of 49 homes were sold or pending in 85122 in February 2024, down by 9.3% month-over-month. Of the 49 sold homes, 55% were sold under asking, 33% were sold at asking, and 12% were sold over asking.

Days on Market for 85122, AZ

How long does it take to sell a home in 85122, AZ?

Average Sale Time

Feb 2023Feb 2024CHANGE
72 Days98 Days+35.5%

Summary: Homes in 85122 had an average of 98 days on market in Feb 2024, up by 35.5% compared to last year.

Breakdown of Home Sale Times

10 Homes Were Sold
Under 30 Days

17 Homes Were Sold
In 30 - 90 Days

22 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Most homes in 85122 are taking a long time to sell, it's a good idea to negotiate on homes here.

Summary: During February 2024, 49 homes were sold in 85122; 20% of homes were sold within 30 days, 35% of homes were sold within 30 to 90 days, and 45% 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 27 Days Ago

Newest Listings in 85122, AZ

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