Is Power Ranch, 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, Power Ranch has remained a Seller's Market.
Key Takeaway
Power Ranch is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Power Ranch, AZ
How much do homes in Power Ranch, AZ cost?
Median Sold Price
$520,000
$255/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Power Ranch have sold for 3.8% less than they did a year ago.
Summary: The median home sold price in Power Ranch was $520,000 in March 2024, down 3.8% from last year, and the median price per square foot was $255.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $475K | $449.9K | -5.3% |
| 3 Bedrooms | $490K | $458.7K | -6.4% |
| 4 Bedrooms | $570K | $555K | -2.6% |
| 5+ Bedrooms | $695K | $777K | +11.8% |
Summary: Power Ranch housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 5.3%, 3 bedroom homes decreased by 6.4%, 4 bedroom homes decreased by 2.6%, and 5+ bedroom homes increased by 11.8%.
Median Sold Price Compared To Nearby Neighborhoods
| Power Ranch | $540.5K | $520K | -3.8% |
| Coronado Ranch | $628.7K | $590.7K | -6.1% |
| San Tan Ranch | $531K | $495K | -6.8% |
Housing Supply in Power Ranch, AZ
How many homes are available in Power Ranch, AZ?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 45 | 38 | -15.6% |
Summary: The Power Ranch real estate market had 38 homes for sale in March 2024, a 15.6% 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 | 1 | 1 | 0.0% |
| 3 Bedrooms | 20 | 17 | -15.0% |
| 4 Bedrooms | 18 | 16 | -11.1% |
| 5+ Bedrooms | 6 | 4 | -33.3% |
Summary: The Power Ranch 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 remained the same, 3 bedroom homes decreased by 15%, 4 bedroom homes decreased by 11.1%, and 5+ bedroom homes decreased by 33.3%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 13 | 15 | +15.4% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Power Ranch, you may be able to get a good deal. 40% of homes here sold below asking price last month.
Summary: A total of 15 homes were sold or pending in Power Ranch in March 2024, up by 15.4% month-over-month. Of the 15 sold homes, 40% were sold under asking, 40% were sold at asking, and 20% were sold over asking.
Days on Market for Power Ranch, AZ
How long does it take to sell a home in Power Ranch, AZ?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 74 Days | 39 Days | -46.9% |
Summary: Homes in Power Ranch had an average of 39 days on market in Mar 2024, down by 46.9% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Power Ranch has remained consistent over time.
Summary: During March 2024, 15 homes were sold in Power Ranch; 40% of homes were sold within 30 days, 47% of homes were sold within 30 to 90 days, and 13% 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.