Is 85251, AZ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, 85251 was a Seller's Market.
Key Takeaway
85251 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in 85251, AZ
How much do homes in 85251, AZ cost?
Median Sold Price
$510,000
$374/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 85251 have sold for 8.9% less than they did a year ago.
Summary: The median home sold price in 85251 was $510,000 in March 2024, down 8.9% from last year, and the median price per square foot was $374.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $293.5K | $275K | -6.3% |
| 2 Bedrooms | $420K | $390K | -7.1% |
| 3 Bedrooms | $700K | $630K | -10.0% |
| 4 Bedrooms | $935K | $900K | -3.7% |
| 5+ Bedrooms | $2.0M | $2.2M | +12.3% |
Summary: 85251 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 6.3%, 2 bedroom homes decreased by 7.1%, 3 bedroom homes decreased by 10%, 4 bedroom homes decreased by 3.7%, and 5+ bedroom homes increased by 12.3%.
Housing Supply in 85251, AZ
How many homes are available in 85251, AZ?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 419 | 448 | +6.9% |
Summary: The 85251 real estate market had 448 homes for sale in March 2024, a 6.9% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 59 | 68 | +15.3% |
| 2 Bedrooms | 202 | 215 | +6.4% |
| 3 Bedrooms | 95 | 97 | +2.1% |
| 4 Bedrooms | 45 | 46 | +2.2% |
| 5+ Bedrooms | 18 | 22 | +22.2% |
Summary: The 85251 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 15.3%, 2 bedroom homes increased by 6.4%, 3 bedroom homes increased by 2.1%, 4 bedroom homes increased by 2.2%, and 5+ bedroom homes increased by 22.2%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 70 | 61 | -12.9% |
Asking Price vs. Sold Price
45 Homes Were Sold
Under Asking
9 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 85251, you may be able to get a good deal. 73.8% of homes here sold below asking price last month.
Summary: A total of 61 homes were sold or pending in 85251 in March 2024, down by 12.9% month-over-month. Of the 61 sold homes, 74% were sold under asking, 15% were sold at asking, and 11% were sold over asking.
Days on Market for 85251, AZ
How long does it take to sell a home in 85251, AZ?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 63 Days | 59 Days | -7.1% |
Summary: Homes in 85251 had an average of 59 days on market in Mar 2024, down by 7.1% compared to last year.
Breakdown of Home Sale Times
23 Homes Were Sold
Under 30 Days
23 Homes Were Sold
In 30 - 90 Days
15 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 85251 are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 61 homes were sold in 85251; 38% of homes were sold within 30 days, 38% of homes were sold within 30 to 90 days, and 25% of homes were sold over 90 days.
The data relating to real estate for sale on this site comes from the Broker Reciprocity/IDX of Arizona Regional Multiple Listing Service, Inc. Indicates a property listed by a real estate brokerage other than Rocket Homes Real Estate, LLC. All information should be verified by the recipient and none is guaranteed as accurate by ARMLS. No warranties, expressed or implied, are provided for the data herein, or for their use or interpretation by the user. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Arizona Regional Multiple Listing Service, Inc. do not create, control or review the property data displayed herein and take no responsibility for the content of such records. Federal law prohibits discrimination on the basis of race, color, religion, sex, handicap, familial status or national origin in the sale, rental or financing of housing. Information deemed reliable but not guaranteed. Copyright© 2024 Arizona Regional Multiple Listing Service, Inc. All Rights Reserved.