Is 85248, 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, 85248 has remained a Seller's Market.
Housing Prices in 85248, AZ
How much do homes in 85248, AZ cost?
Median Sold Price
$540,571
$274/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in 85248 was $540,571 in March 2024, down 0.9% from last year, and the median price per square foot was $274.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $390K | $385K | -1.3% |
2 Bedrooms | $458.6K | $440.3K | -4.0% |
3 Bedrooms | $575K | $570K | -0.9% |
4 Bedrooms | $729.4K | $767.5K | +5.2% |
5+ Bedrooms | $890K | $942.8K | +5.9% |
Summary: 85248 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 1.3%, 2 bedroom homes decreased by 4%, 3 bedroom homes decreased by 0.9%, 4 bedroom homes increased by 5.2%, and 5+ bedroom homes increased by 5.9%.
Housing Supply in 85248, AZ
How many homes are available in 85248, AZ?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
269 | 284 | +5.6% |
Summary: The 85248 real estate market had 284 homes for sale in March 2024, a 5.6% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 3 | 3 | 0.0% |
2 Bedrooms | 130 | 143 | +10.0% |
3 Bedrooms | 83 | 80 | -3.6% |
4 Bedrooms | 38 | 42 | +10.5% |
5+ Bedrooms | 15 | 16 | +6.7% |
Summary: The 85248 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 10%, 3 bedroom homes decreased by 3.6%, 4 bedroom homes increased by 10.5%, and 5+ bedroom homes increased by 6.7%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
47 | 74 | +57.4% |
Asking Price vs. Sold Price
46 Homes Were Sold
Under Asking
17 Homes Were Sold
At Asking
11 Homes Were Sold
Over Asking
Summary: A total of 74 homes were sold or pending in 85248 in March 2024, up by 57.4% month-over-month. Of the 74 sold homes, 62% were sold under asking, 23% were sold at asking, and 15% were sold over asking.
Days on Market for 85248, AZ
How long does it take to sell a home in 85248, AZ?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
81 Days | 47 Days | -41.9% |
Summary: Homes in 85248 had an average of 47 days on market in Mar 2024, down by 41.9% compared to last year.
Breakdown of Home Sale Times
37 Homes Were Sold
Under 30 Days
23 Homes Were Sold
In 30 - 90 Days
14 Homes Were Sold
Over 90 Days
Summary: During March 2024, 74 homes were sold in 85248; 50% of homes were sold within 30 days, 31% of homes were sold within 30 to 90 days, and 19% of homes were sold over 90 days.