Is Ocotillo, AZ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Ocotillo has remained a Seller's Market.
Key Takeaway
Ocotillo is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Ocotillo, AZ
How much do homes in Ocotillo, AZ cost?
Median Sold Price
$340,000
$234/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
The sold price of homes in Ocotillo has remained the same since last year.
Summary: The median home sold price in Ocotillo was $340,000 in April 2024, up 0.3% from last year, and the median price per square foot was $234.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $157K | N/A |
| 2 Bedrooms | $236.5K | $227.4K | -3.8% |
| 3 Bedrooms | $336K | $336.6K | 0.2% |
| 4 Bedrooms | $380K | $390K | +2.6% |
| 5+ Bedrooms | $383.1K | $397.5K | +3.8% |
Summary: Ocotillo housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 3.8%, 3 bedroom homes increased by 0.2%, 4 bedroom homes increased by 2.6%, and 5+ bedroom homes increased by 3.8%.
Median Sold Price Compared To Nearby Neighborhoods
| Ocotillo Rose | $320K | $326K | +1.9% |
| Ocotillo | $339K | $340K | 0.3% |
Housing Supply in Ocotillo, AZ
How many homes are available in Ocotillo, AZ?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 58 | 52 | -10.3% |
Summary: The Ocotillo real estate market had 52 homes for sale in April 2024, a 10.3% decrease compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 7 | 7 | 0.0% |
| 3 Bedrooms | 30 | 27 | -10.0% |
| 4 Bedrooms | 14 | 10 | -28.6% |
| 5+ Bedrooms | 7 | 8 | +14.3% |
Summary: The Ocotillo 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 10%, 4 bedroom homes decreased by 28.6%, and 5+ bedroom homes increased by 14.3%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 23 | 15 | -34.8% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Ocotillo, you could pay more than the asking price. 46.7% of homes here sold above asking price last month.
Summary: A total of 15 homes were sold or pending in Ocotillo in April 2024, down by 34.8% month-over-month. Of the 15 sold homes, 33% were sold under asking, 20% were sold at asking, and 47% were sold over asking.
Days on Market for Ocotillo, AZ
How long does it take to sell a home in Ocotillo, AZ?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 54 Days | 37 Days | -30.6% |
Summary: Homes in Ocotillo had an average of 37 days on market in Apr 2024, down by 30.6% compared to last year.
Breakdown of Home Sale Times
8 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Ocotillo are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 15 homes were sold in Ocotillo; 53% of homes were sold within 30 days, 40% of homes were sold within 30 to 90 days, and 7% of homes were sold over 90 days.
The data relating to real estate for sale on this site comes from the Broker Reciprocity/IDX of Arizona Regional Multiple Listing Service, Inc. Indicates a property listed by a real estate brokerage other than Rocket Homes Real Estate, LLC. All information should be verified by the recipient and none is guaranteed as accurate by ARMLS. No warranties, expressed or implied, are provided for the data herein, or for their use or interpretation by the user. 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. Arizona Regional Multiple Listing Service, Inc. do not create, control or review the property data displayed herein and take no responsibility for the content of such records. Federal law prohibits discrimination on the basis of race, color, religion, sex, handicap, familial status or national origin in the sale, rental or financing of housing. Information deemed reliable but not guaranteed. Copyright© 2024 Arizona Regional Multiple Listing Service, Inc. All Rights Reserved.