Is Palo Verde, 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, Palo Verde has remained a Seller's Market.
Housing Prices in Palo Verde, AZ
How much do homes in Palo Verde, AZ cost?
Median Sold Price
$436,000
$254/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Palo Verde was $436,000 in March 2024, down 1.4% from last year, and the median price per square foot was $254.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $225K | $207.5K | -7.8% |
2 Bedrooms | $295K | $280K | -5.1% |
3 Bedrooms | $405K | $405K | 0.0% |
4 Bedrooms | $480K | $492K | +2.5% |
5+ Bedrooms | $650K | $635K | -2.3% |
Summary: Palo Verde housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 7.8%, 2 bedroom homes decreased by 5.1%, 3 bedroom homes did not change, 4 bedroom homes increased by 2.5%, and 5+ bedroom homes decreased by 2.3%.
Housing Supply in Palo Verde, AZ
How many homes are available in Palo Verde, AZ?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
93 | 91 | -2.2% |
Summary: The Palo Verde real estate market had 91 homes for sale in March 2024, a 2.2% decrease 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 | 4 | 3 | -25.0% |
3 Bedrooms | 41 | 39 | -4.9% |
4 Bedrooms | 25 | 27 | +8.0% |
5+ Bedrooms | 23 | 22 | -4.3% |
Summary: The Palo Verde 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 decreased by 25%, 3 bedroom homes decreased by 4.9%, 4 bedroom homes increased by 8%, and 5+ bedroom homes decreased by 4.3%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
14 | 28 | +100.0% |
Asking Price vs. Sold Price
14 Homes Were Sold
Under Asking
8 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Summary: A total of 28 homes were sold or pending in Palo Verde in March 2024, up by 100.0% month-over-month. Of the 28 sold homes, 50% were sold under asking, 29% were sold at asking, and 21% were sold over asking.
Days on Market for Palo Verde, AZ
How long does it take to sell a home in Palo Verde, AZ?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
54 Days | 53 Days | -2.6% |
Summary: Homes in Palo Verde had an average of 53 days on market in Mar 2024, down by 2.6% compared to last year.
Breakdown of Home Sale Times
8 Homes Were Sold
Under 30 Days
17 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Summary: During March 2024, 28 homes were sold in Palo Verde; 29% of homes were sold within 30 days, 61% of homes were sold within 30 to 90 days, and 11% of homes were sold over 90 days.