Is Litchfield Park, AZ a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Litchfield Park is a seller's market

Buyer's
Market

Difference Since April 2023

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

Key Takeaway

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

Housing Prices in Litchfield Park, AZ

How much do homes in Litchfield Park, AZ cost?

Median Sold Price

$504,328

$230/sqft

Based on all homes sold in the last 12 months.

Difference Since April 2023

-$20,583(-3.9%)

Key Takeaway

Homes in Litchfield Park have sold for 3.9% less than they did a year ago.

Summary: The median home sold price in Litchfield Park was $504,328 in April 2024, down 3.9% from last year, and the median price per square foot was $230.

Median Sold Price By Bedroom Count

# BEDSApr 2023Apr 2024CHANGE
1 $270K$285K
+5.6%
2 $411.5K$365K
-11.3%
3 $465K$470.8K
+1.3%
4 $600K$516.6K
-13.9%
5+ $652.7K$682.5K
+4.6%

Summary: Litchfield Park housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 5.6%, 2 bedroom homes decreased by 11.3%, 3 bedroom homes increased by 1.3%, 4 bedroom homes decreased by 13.9%, and 5+ bedroom homes increased by 4.6%.

Median Sold Price Compared To Nearby Cities

Phoenix
+2.6%
Avondale
+0.6%
Glendale
-0.1%
Goodyear
-3.1%
Litchfield Park
-3.9%

Housing Supply in Litchfield Park, AZ

How many homes are available in Litchfield Park, AZ?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
318289-9.1%

Summary: The Litchfield Park real estate market had 289 homes for sale in April 2024, a 9.1% decrease compared to March 2024.

Homes For Sale By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 33
0.0%
2 77
0.0%
3 10893
-13.9%
4 132128
-3.0%
5+ 6858
-14.7%

Summary: The Litchfield Park housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes decreased by 13.9%, 4 bedroom homes decreased by 3%, and 5+ bedroom homes decreased by 14.7%.

Number of Homes Sold

Mar 2024Apr 2024CHANGE
7857-26.9%

Asking Price vs. Sold Price

37 Homes Were Sold
Under Asking

14 Homes Were Sold
At Asking

6 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Litchfield Park, you may be able to get a good deal. 64.9% of homes here sold below asking price last month.

Summary: A total of 57 homes were sold or pending in Litchfield Park in April 2024, down by 26.9% month-over-month. Of the 57 sold homes, 65% were sold under asking, 25% were sold at asking, and 11% were sold over asking.

Days on Market for Litchfield Park, AZ

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

Average Sale Time

Apr 2023Apr 2024CHANGE
72 Days85 Days+19.2%

Summary: Homes in Litchfield Park had an average of 85 days on market in Apr 2024, up by 19.2% compared to last year.

Breakdown of Home Sale Times

18 Homes Were Sold
Under 30 Days

19 Homes Were Sold
In 30 - 90 Days

20 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During April 2024, 57 homes were sold in Litchfield Park; 32% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 35% 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 19 Days Ago

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