Is McCormick Ranch, AZ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since February 2023
Since last year, McCormick Ranch has remained a Seller's Market.
Housing Prices in McCormick Ranch, AZ
How much do homes in McCormick Ranch, AZ cost?
Median Sold Price
$823,869
$412/sqft
Based on all homes sold in the last 12 months.
Difference Since February 2023
Summary: The median home sold price in McCormick Ranch was $823,869 in February 2024, up 2.1% from last year, and the median price per square foot was $412.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Feb 2023 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $295K | $295.5K | 0.2% |
2 Bedrooms | $590K | $566.8K | -3.9% |
3 Bedrooms | $840K | $827.5K | -1.5% |
4 Bedrooms | $1.2M | $1.2M | +2.6% |
5+ Bedrooms | $1.6M | $1.7M | +3.2% |
Summary: McCormick Ranch housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes increased by 0.2%, 2 bedroom homes decreased by 3.9%, 3 bedroom homes decreased by 1.5%, 4 bedroom homes increased by 2.6%, and 5+ bedroom homes increased by 3.2%.
Median Sold Price Compared To Nearby Neighborhoods
McCormick Ranch | $806.6K | $823.8K | +2.1% |
Heritage Village | $757.5K | $725K | -4.3% |
Housing Supply in McCormick Ranch, AZ
How many homes are available in McCormick Ranch, AZ?
Number of Homes For Sale
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
134 | 142 | +6.0% |
Summary: The McCormick Ranch real estate market had 142 homes for sale in February 2024, a 6.0% increase compared to January 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Jan 2024 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 3 | 5 | +66.7% |
2 Bedrooms | 41 | 42 | +2.4% |
3 Bedrooms | 51 | 63 | +23.5% |
4 Bedrooms | 32 | 26 | -18.8% |
5+ Bedrooms | 7 | 6 | -14.3% |
Summary: The McCormick Ranch housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 66.7%, 2 bedroom homes increased by 2.4%, 3 bedroom homes increased by 23.5%, 4 bedroom homes decreased by 18.8%, and 5+ bedroom homes decreased by 14.3%.
Number of Homes Sold
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
26 | 31 | +19.2% |
Asking Price vs. Sold Price
18 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Summary: A total of 31 homes were sold or pending in McCormick Ranch in February 2024, up by 19.2% month-over-month. Of the 31 sold homes, 58% were sold under asking, 19% were sold at asking, and 23% were sold over asking.
Days on Market for McCormick Ranch, AZ
How long does it take to sell a home in McCormick Ranch, AZ?
Average Sale Time
Feb 2023 | Feb 2024 | CHANGE |
---|---|---|
75 Days | 35 Days | -53.4% |
Summary: Homes in McCormick Ranch had an average of 35 days on market in Feb 2024, down by 53.4% compared to last year.
Breakdown of Home Sale Times
17 Homes Were Sold
Under 30 Days
11 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Summary: During February 2024, 31 homes were sold in McCormick Ranch; 55% of homes were sold within 30 days, 35% of homes were sold within 30 to 90 days, and 10% of homes were sold over 90 days.