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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Hereford is a neutral's market

Buyer's
Market

Difference Since May 2023

At the same time last year, Hereford was a Seller's Market.

Key Takeaway

Hereford is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.

Housing Prices in Hereford, AZ

How much do homes in Hereford, AZ cost?

Median Sold Price

$415,000

$199/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$37,750(+10.0%)

Key Takeaway

Homes in Hereford have sold for 10% more than they did a year ago.

Summary: The median home sold price in Hereford was $415,000 in May 2024, up 10% from last year, and the median price per square foot was $199.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $175K$267.5K
+52.9%
2 $143K$349K
+144.1%
3 $375K$372K
-0.8%
4 $452K$487.5K
+7.8%
5+ $666.6K$315K
-52.7%

Summary: Hereford housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 52.9%, 2 bedroom homes increased by 144.1%, 3 bedroom homes decreased by 0.8%, 4 bedroom homes increased by 7.8%, and 5+ bedroom homes decreased by 52.7%.

Median Sold Price Compared To Nearby Cities

Hereford
+10.0%
Sierra Vista
+2.0%

Housing Supply in Hereford, AZ

How many homes are available in Hereford, AZ?

Number of Homes For Sale

Apr 2024May 2024CHANGE
5667+19.6%

Summary: The Hereford real estate market had 67 homes for sale in May 2024, a 19.6% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 31
-66.7%
2 02
+100.0%
3 3034
+13.3%
4 1925
+31.6%
5+ 45
+25.0%

Summary: The Hereford housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 66.7%, 2 bedroom homes increased by 100%, 3 bedroom homes increased by 13.3%, 4 bedroom homes increased by 31.6%, and 5+ bedroom homes increased by 25%.

Number of Homes Sold

Apr 2024May 2024CHANGE
410+150.0%

Asking Price vs. Sold Price

7 Homes Were Sold
Under Asking

3 Homes Were Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Hereford, you may be able to get a good deal. 70% of homes here sold below asking price last month.

Summary: A total of 10 homes were sold or pending in Hereford in May 2024, up by 150.0% month-over-month. Of the 10 sold homes, 70% were sold under asking, 30% were sold at asking, and 0% were sold over asking.

Days on Market for Hereford, AZ

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

Average Sale Time

May 2023May 2024CHANGE
80 Days69 Days-12.9%

Summary: Homes in Hereford had an average of 69 days on market in May 2024, down by 12.9% compared to last year.

Breakdown of Home Sale Times

4 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

5 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Most homes in Hereford are taking a long time to sell, it's a good idea to negotiate on homes here.

Summary: During May 2024, 10 homes were sold in Hereford; 40% of homes were sold within 30 days, 10% of homes were sold within 30 to 90 days, and 50% 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 17 Days Ago

Newest Listings in Hereford, AZ

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