Is Maricopa County, 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, Maricopa County has remained a Seller's Market.
Key Takeaway
Maricopa County is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Maricopa County, AZ
How much do homes in Maricopa County, AZ cost?
Median Sold Price
$469,820
$268/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
The sold price of homes in Maricopa County has remained the same since last year.
Summary: The median home sold price in Maricopa County was $469,820 in March 2024, down 0.4% from last year, and the median price per square foot was $268.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $240.1K | $233.7K | -2.7% |
| 2 Bedrooms | $360.1K | $358K | -0.6% |
| 3 Bedrooms | $454.5K | $449.9K | -1.0% |
| 4 Bedrooms | $565.7K | $564.6K | -0.2% |
| 5+ Bedrooms | $760.6K | $771.4K | +1.4% |
Summary: Maricopa County housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 2.7%, 2 bedroom homes decreased by 0.6%, 3 bedroom homes decreased by 1%, 4 bedroom homes decreased by 0.2%, and 5+ bedroom homes increased by 1.4%.
Median Sold Price Compared To Nearby Counties
| Gila County | $409.8K | $449.4K | +9.7% |
| Yavapai County | $539.9K | $575.6K | +6.6% |
| Maricopa County | $471.7K | $469.8K | -0.4% |
| Pinal County | $385.8K | $364.7K | -5.5% |
Housing Supply in Maricopa County, AZ
How many homes are available in Maricopa County, AZ?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 20,842 | 22,021 | +5.7% |
Summary: The Maricopa County real estate market had 22,021 homes for sale in March 2024, a 5.7% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 458 | 517 | +12.9% |
| 2 Bedrooms | 4,473 | 4,845 | +8.3% |
| 3 Bedrooms | 7,633 | 7,976 | +4.5% |
| 4 Bedrooms | 6,001 | 6,220 | +3.6% |
| 5+ Bedrooms | 2,277 | 2,463 | +8.2% |
Summary: The Maricopa County housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 12.9%, 2 bedroom homes increased by 8.3%, 3 bedroom homes increased by 4.5%, 4 bedroom homes increased by 3.6%, and 5+ bedroom homes increased by 8.2%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 4,362 | 5,081 | +16.5% |
Asking Price vs. Sold Price
2,785 Homes Were Sold
Under Asking
1,475 Homes Were Sold
At Asking
821 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Maricopa County, you may be able to get a good deal. 54.8% of homes here sold below asking price last month.
Summary: A total of 5,081 homes were sold or pending in Maricopa County in March 2024, up by 16.5% month-over-month. Of the 5,081 sold homes, 55% were sold under asking, 29% were sold at asking, and 16% were sold over asking.
Days on Market for Maricopa County, AZ
How long does it take to sell a home in Maricopa County, AZ?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 72 Days | 60 Days | -16.4% |
Summary: Homes in Maricopa County had an average of 60 days on market in Mar 2024, down by 16.4% compared to last year.
Breakdown of Home Sale Times
1,911 Homes Were Sold
Under 30 Days
1,982 Homes Were Sold
In 30 - 90 Days
1,188 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Maricopa County has remained consistent over time.
Summary: During March 2024, 5081 homes were sold in Maricopa County; 38% of homes were sold within 30 days, 39% of homes were sold within 30 to 90 days, and 23% of homes were sold over 90 days.
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