Is Red Mountain Ranch, 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, Red Mountain Ranch was a Seller's Market.
Housing Prices in Red Mountain Ranch, AZ
How much do homes in Red Mountain Ranch, AZ cost?
Median Sold Price
$628,000
$275/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Red Mountain Ranch was $628,000 in March 2024, up 7.7% from last year, and the median price per square foot was $275.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $457.5K | $420K | -8.2% |
3 Bedrooms | $550K | $564.9K | +2.7% |
4 Bedrooms | $617K | $657.5K | +6.6% |
5+ Bedrooms | $970.5K | $905.8K | -6.7% |
Summary: Red Mountain 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 8.2%, 3 bedroom homes increased by 2.7%, 4 bedroom homes increased by 6.6%, and 5+ bedroom homes decreased by 6.7%.
Median Sold Price Compared To Nearby Neighborhoods
Red Mountain Ranch | $583K | $628K | +7.7% |
Las Sendas | $663.7K | $699K | +5.3% |
Summit | $489.9K | $490K | 0.0% |
Housing Supply in Red Mountain Ranch, AZ
How many homes are available in Red Mountain Ranch, AZ?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
21 | 29 | +38.1% |
Summary: The Red Mountain Ranch real estate market had 29 homes for sale in March 2024, a 38.1% 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 | 1 | 1 | 0.0% |
3 Bedrooms | 9 | 14 | +55.6% |
4 Bedrooms | 10 | 12 | +20.0% |
5+ Bedrooms | 1 | 2 | +100.0% |
Summary: The Red Mountain 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 increased by 55.6%, 4 bedroom homes increased by 20%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
4 | 4 | 0.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
3 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Summary: A total of 4 homes were sold or pending in Red Mountain Ranch in March 2024, the same as the previous month. Of the 4 sold homes, 25% were sold under asking, 75% were sold at asking, and 0% were sold over asking.
Days on Market for Red Mountain Ranch, AZ
How long does it take to sell a home in Red Mountain Ranch, AZ?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
70 Days | 70 Days | -0.9% |
Summary: Homes in Red Mountain Ranch had an average of 70 days on market in Mar 2024, down by 0.9% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During March 2024, 4 homes were sold in Red Mountain Ranch; 25% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 50% of homes were sold over 90 days.