Is 85251, AZ a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 85251 is a seller's market

Buyer's
Market

Difference Since May 2021

Since last year, 85251 has remained a Seller's Market.

Key Takeaway

85251 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

How much do homes in 85251, AZ cost?

Median Sold Price

$521,335

$370/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2021

+$101,776(+24.3%)

Key Takeaway

Homes in 85251 have sold for 24.3% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSMay 2021May 2022%
1 $208.5K$285K
+36.7%
2 $318.8K$390K
+22.3%
3 $510.1K$649.9K
+27.4%
4 $680K$850K
+25.0%
5+ $1.8M$2.5M
+38.0%

Median Sold Price Compared To Nearby Zip Codes

85257
+33.8%
85250
+30.5%
85253
+27.6%
85251
+24.3%
85018
+10.3%

How many homes are available in 85251, AZ?

Number of Homes For Sale

Apr 2022May 2022%
320330+3.1%

Homes For Sale By Bedroom Count

# BEDSApr 2022May 2022%
1 3742
+13.5%
2 142154
+8.5%
3 9388
-5.4%
4 3733
-10.8%
5+ 1113
+18.2%

Number of Homes Sold

Apr 2022May 2022%
13093-28.5%

Asking Price vs. Sold Price

18 Homes Were Sold
Under Asking

21 Homes Were Sold
At Asking

54 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 85251, you could pay more than the asking price. 58.1% of homes here sold above asking price last month.

Average Sale Time

May 2021May 2022%
32 Days32 Days+0.7%

Breakdown of Home Sale Times

63 Homes Were Sold
Under 30 Days

23 Homes Were Sold
In 30 - 90 Days

7 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 85251 are selling fast, if you're buying plan to act quickly.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

About 85251, AZ

Homes for sale in 85251, AZ have reached 330. In May 2022 in 85251, AZ there were 3.1% more homes for sale than in April 2022. The median list price of listings available in May 2022 was $521,335, while the average time on the real estate market was 32 days. Listing prices have changed in this real estate market between April 2022 and May 2022: 1 bedroom properties became 36.7% more expensive, 2 bedrooms properties became 22.3% more expensive, prices of 3 bedrooms properties went up by 27.4%, prices of 4 bedrooms properties went up by 25%, the cost of 5 bedrooms properties went up by 38%. Housing inventory have changed in this real estate market: the quantity of 1 bedroom homes went up by 13.5%, the quantity of 2 bedrooms homes went up by 8.5%, volume of 3 bedrooms homes went down by 5.4%, 4 bedrooms homes inventory decreased by 10.8%, the quantity of 5 bedrooms homes went up by 18.2%. In May 2022 more than 54 listings in 85251, AZ were sold above the asking price. During the same period more than 21 listings were sold at asking price, while more than 18 were sold below.