Is Rio Paseo, AZ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, Rio Paseo was a Seller's Market.
Key Takeaway
Rio Paseo is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Rio Paseo, AZ
How much do homes in Rio Paseo, AZ cost?
Median Sold Price
$410,000
$223/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Rio Paseo have sold for 10.9% less than they did a year ago.
Summary: The median home sold price in Rio Paseo was $410,000 in April 2024, down 10.9% from last year, and the median price per square foot was $223.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $290K | N/A |
| 2 Bedrooms | $347.5K | $310K | -10.8% |
| 3 Bedrooms | $405K | $365K | -9.9% |
| 4 Bedrooms | $485K | $475K | -2.1% |
| 5+ Bedrooms | $588K | $578.5K | -1.6% |
Summary: Rio Paseo 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 10.8%, 3 bedroom homes decreased by 9.9%, 4 bedroom homes decreased by 2.1%, and 5+ bedroom homes decreased by 1.6%.
Median Sold Price Compared To Nearby Neighborhoods
| Palm Valley | $525K | $538K | +2.5% |
| Pebblecreek | $535K | $538K | +0.6% |
| Desert Breeze | $494.9K | $490K | -1.0% |
| Rio Paseo | $460K | $410K | -10.9% |
Housing Supply in Rio Paseo, AZ
How many homes are available in Rio Paseo, AZ?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 19 | 15 | -21.1% |
Summary: The Rio Paseo real estate market had 15 homes for sale in April 2024, a 21.1% 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 | 4 | 2 | -50.0% |
| 3 Bedrooms | 9 | 7 | -22.2% |
| 4 Bedrooms | 3 | 4 | +33.3% |
| 5+ Bedrooms | 3 | 2 | -33.3% |
Summary: The Rio Paseo 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 decreased by 50%, 3 bedroom homes decreased by 22.2%, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes decreased by 33.3%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 4 | 1 | -75.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Rio Paseo, expect to pay close to the asking price. 100% of homes here sold near the asking price last month.
Summary: A total of 1 homes were sold or pending in Rio Paseo in April 2024, down by 75.0% month-over-month. Of the 1 sold homes, 0% were sold under asking, 100% were sold at asking, and 0% were sold over asking.
Days on Market for Rio Paseo, AZ
How long does it take to sell a home in Rio Paseo, AZ?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 33 Days | 53 Days | +58.2% |
Summary: Homes in Rio Paseo had an average of 53 days on market in Apr 2024, up by 58.2% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Rio Paseo has remained consistent over time.
Summary: During April 2024, 1 homes were sold in Rio Paseo; 0% of homes were sold within 30 days, 100% of homes were sold within 30 to 90 days, and 0% 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.