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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Florence is a seller's market

Buyer's
Market

Difference Since May 2023

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

Key Takeaway

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

Housing Prices in Florence, AZ

How much do homes in Florence, AZ cost?

Median Sold Price

$339,892

$196/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

-$14,981(-4.2%)

Key Takeaway

Homes in Florence have sold for 4.2% less than they did a year ago.

Summary: The median home sold price in Florence was $339,892 in May 2024, down 4.2% from last year, and the median price per square foot was $196.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $123.5K$133.2K
+7.9%
2 $398K$403.3K
+1.3%
3 $325K$320.4K
-1.4%
4 $360.6K$345K
-4.3%
5+ $421K$408.7K
-2.9%

Summary: Florence housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 7.9%, 2 bedroom homes increased by 1.3%, 3 bedroom homes decreased by 1.4%, 4 bedroom homes decreased by 4.3%, and 5+ bedroom homes decreased by 2.9%.

Median Sold Price Compared To Nearby Cities

Coolidge
0.1%
North Pinal
0%
Florence
-4.2%

Housing Supply in Florence, AZ

How many homes are available in Florence, AZ?

Number of Homes For Sale

Apr 2024May 2024CHANGE
276297+7.6%

Summary: The Florence real estate market had 297 homes for sale in May 2024, a 7.6% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 54
-20.0%
2 6469
+7.8%
3 117138
+17.9%
4 6661
-7.6%
5+ 2425
+4.2%

Summary: The Florence housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 20%, 2 bedroom homes increased by 7.8%, 3 bedroom homes increased by 17.9%, 4 bedroom homes decreased by 7.6%, and 5+ bedroom homes increased by 4.2%.

Number of Homes Sold

Apr 2024May 2024CHANGE
4975+53.1%

Asking Price vs. Sold Price

34 Homes Were Sold
Under Asking

27 Homes Were Sold
At Asking

14 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Florence, you may be able to get a good deal. 45.3% of homes here sold below asking price last month.

Summary: A total of 75 homes were sold or pending in Florence in May 2024, up by 53.1% month-over-month. Of the 75 sold homes, 45% were sold under asking, 36% were sold at asking, and 19% were sold over asking.

Days on Market for Florence, AZ

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

Average Sale Time

May 2023May 2024CHANGE
91 Days70 Days-23.3%

Summary: Homes in Florence had an average of 70 days on market in May 2024, down by 23.3% compared to last year.

Breakdown of Home Sale Times

24 Homes Were Sold
Under 30 Days

31 Homes Were Sold
In 30 - 90 Days

20 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in Florence has remained consistent over time.

Summary: During May 2024, 75 homes were sold in Florence; 32% of homes were sold within 30 days, 41% of homes were sold within 30 to 90 days, and 27% 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 20 Days Ago

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