Is Palm Valley, AZ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, Palm Valley was a Seller's Market.
Key Takeaway
Palm Valley is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Palm Valley, AZ
How much do homes in Palm Valley, AZ cost?
Median Sold Price
$545,000
$229/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Palm Valley have sold for 1.7% more than they did a year ago.
Summary: The median home sold price in Palm Valley was $545,000 in March 2024, up 1.7% from last year, and the median price per square foot was $229.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $285K | $225K | -21.1% |
| 2 Bedrooms | $312.7K | $350K | +11.9% |
| 3 Bedrooms | $485K | $470K | -3.1% |
| 4 Bedrooms | $562.5K | $590K | +4.9% |
| 5+ Bedrooms | $705K | $700K | -0.7% |
Summary: Palm Valley housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 21.1%, 2 bedroom homes increased by 11.9%, 3 bedroom homes decreased by 3.1%, 4 bedroom homes increased by 4.9%, and 5+ bedroom homes decreased by 0.7%.
Median Sold Price Compared To Nearby Neighborhoods
| Desert Vista | $599K | $636K | +6.2% |
| Palm Valley | $536K | $545K | +1.7% |
Housing Supply in Palm Valley, AZ
How many homes are available in Palm Valley, AZ?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 62 | 71 | +14.5% |
Summary: The Palm Valley real estate market had 71 homes for sale in March 2024, a 14.5% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 3 | 4 | +33.3% |
| 3 Bedrooms | 18 | 23 | +27.8% |
| 4 Bedrooms | 27 | 28 | +3.7% |
| 5+ Bedrooms | 14 | 16 | +14.3% |
Summary: The Palm Valley housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 33.3%, 3 bedroom homes increased by 27.8%, 4 bedroom homes increased by 3.7%, and 5+ bedroom homes increased by 14.3%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 14 | 10 | -28.6% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
7 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Palm Valley, expect to pay close to the asking price. 70% of homes here sold near the asking price last month.
Summary: A total of 10 homes were sold or pending in Palm Valley in March 2024, down by 28.6% month-over-month. Of the 10 sold homes, 10% were sold under asking, 70% were sold at asking, and 20% were sold over asking.
Days on Market for Palm Valley, AZ
How long does it take to sell a home in Palm Valley, AZ?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 68 Days | 45 Days | -34.4% |
Summary: Homes in Palm Valley had an average of 45 days on market in Mar 2024, down by 34.4% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Palm Valley are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 10 homes were sold in Palm Valley; 40% of homes were sold within 30 days, 40% of homes were sold within 30 to 90 days, and 20% 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.