Is El Mirage, AZ a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing El Mirage is a seller's market

Buyer's
Market

Difference Since February 2023

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

Key Takeaway

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

Housing Prices in El Mirage, AZ

How much do homes in El Mirage, AZ cost?

Median Sold Price

$355,000

$244/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

-$30,000(-7.8%)

Key Takeaway

Homes in El Mirage have sold for 7.8% less than they did a year ago.

Summary: The median home sold price in El Mirage was $355,000 in February 2024, down 7.8% from last year, and the median price per square foot was $244.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 --
N/A
2 $318.5K$315K
-1.1%
3 $370K$345K
-6.8%
4 $420K$370K
-11.9%
5+ $440K$430K
-2.3%

Summary: El Mirage housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 1.1%, 3 bedroom homes decreased by 6.8%, 4 bedroom homes decreased by 11.9%, and 5+ bedroom homes decreased by 2.3%.

Median Sold Price Compared To Nearby Cities

Youngtown
+4.9%
Glendale
-2.8%
Surprise
-6.6%
El Mirage
-7.8%

Housing Supply in El Mirage, AZ

How many homes are available in El Mirage, AZ?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
8084+5.0%

Summary: The El Mirage real estate market had 84 homes for sale in February 2024, a 5.0% increase compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 00
0.0%
2 11
0.0%
3 4547
+4.4%
4 2931
+6.9%
5+ 55
0.0%

Summary: The El Mirage 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 remained the same, 3 bedroom homes increased by 4.4%, 4 bedroom homes increased by 6.9%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
1524+60.0%

Asking Price vs. Sold Price

10 Homes Were Sold
Under Asking

9 Homes Were Sold
At Asking

5 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in El Mirage, you may be able to get a good deal. 41.7% of homes here sold below asking price last month.

Summary: A total of 24 homes were sold or pending in El Mirage in February 2024, up by 60.0% month-over-month. Of the 24 sold homes, 42% were sold under asking, 38% were sold at asking, and 21% were sold over asking.

Days on Market for El Mirage, AZ

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

Average Sale Time

Feb 2023Feb 2024CHANGE
78 Days41 Days-47.0%

Summary: Homes in El Mirage had an average of 41 days on market in Feb 2024, down by 47% compared to last year.

Breakdown of Home Sale Times

13 Homes Were Sold
Under 30 Days

9 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During February 2024, 24 homes were sold in El Mirage; 54% of homes were sold within 30 days, 38% of homes were sold within 30 to 90 days, and 8% 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 18 Days Ago

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