Is Florence, 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, 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
$339,993
$195/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Florence have sold for 7.1% less than they did a year ago.
Summary: The median home sold price in Florence was $339,993 in March 2024, down 7.1% from last year, and the median price per square foot was $195.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $118.9K | $131.9K | +10.9% |
| 2 Bedrooms | $415K | $400K | -3.6% |
| 3 Bedrooms | $340K | $320K | -5.9% |
| 4 Bedrooms | $375K | $345K | -8.0% |
| 5+ Bedrooms | $435K | $395K | -9.2% |
Summary: Florence housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 10.9%, 2 bedroom homes decreased by 3.6%, 3 bedroom homes decreased by 5.9%, 4 bedroom homes decreased by 8%, and 5+ bedroom homes decreased by 9.2%.
Median Sold Price Compared To Nearby Cities
| Coolidge | $309K | $302K | -2.3% |
| North Pinal | $440K | $415K | -5.7% |
| Florence | $366K | $339.9K | -7.1% |
Housing Supply in Florence, AZ
How many homes are available in Florence, AZ?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 249 | 269 | +8.0% |
Summary: The Florence real estate market had 269 homes for sale in March 2024, a 8.0% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 4 | 5 | +25.0% |
| 2 Bedrooms | 56 | 66 | +17.9% |
| 3 Bedrooms | 96 | 107 | +11.5% |
| 4 Bedrooms | 76 | 72 | -5.3% |
| 5+ Bedrooms | 17 | 19 | +11.8% |
Summary: The Florence housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 25%, 2 bedroom homes increased by 17.9%, 3 bedroom homes increased by 11.5%, 4 bedroom homes decreased by 5.3%, and 5+ bedroom homes increased by 11.8%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 45 | 65 | +44.4% |
Asking Price vs. Sold Price
27 Homes Were Sold
Under Asking
29 Homes Were Sold
At Asking
9 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Florence, expect to pay close to the asking price. 44.6% of homes here sold near the asking price last month.
Summary: A total of 65 homes were sold or pending in Florence in March 2024, up by 44.4% month-over-month. Of the 65 sold homes, 42% were sold under asking, 45% were sold at asking, and 14% 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
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 80 Days | 76 Days | -4.1% |
Summary: Homes in Florence had an average of 76 days on market in Mar 2024, down by 4.1% compared to last year.
Breakdown of Home Sale Times
20 Homes Were Sold
Under 30 Days
22 Homes Were Sold
In 30 - 90 Days
23 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in Florence are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During March 2024, 65 homes were sold in Florence; 31% of homes were sold within 30 days, 34% of homes were sold within 30 to 90 days, and 35% of homes were sold over 90 days.
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The data relating to real estate listings on this website comes in part from the Internet Data Exchange (IDX) program of Multiple Listing Service of Southern Arizona. 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. Listings provided by brokerages other than this broker are identified with the MLSSAZ IDX Logo. All Information Is Deemed Reliable But Is Not Guaranteed Accurate. Listing information Copyright 2024 MLS of Southern Arizona. All Rights Reserved.