Is Russell 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, Russell Ranch was a Neutral Market.
Key Takeaway
Russell Ranch is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Russell Ranch, AZ
How much do homes in Russell Ranch, AZ cost?
Median Sold Price
$627,685
$240/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Russell Ranch have sold for 40.2% less than they did a year ago.
Summary: The median home sold price in Russell Ranch was $627,685 in March 2024, down 40.2% from last year, and the median price per square foot was $240.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | - | - | N/A |
| 3 Bedrooms | $960K | $476.2K | -50.4% |
| 4 Bedrooms | $1.0M | $869.8K | -15.1% |
| 5+ Bedrooms | $1.2M | $984.9K | -24.2% |
Summary: Russell 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 did not change, 3 bedroom homes decreased by 50.4%, 4 bedroom homes decreased by 15.1%, and 5+ bedroom homes decreased by 24.2%.
Median Sold Price Compared To Nearby Neighborhoods
| Yucca | $466.2K | $459.9K | -1.4% |
| Romola of Arizona | $680K | $607.9K | -10.6% |
| Russell Ranch | $1.0M | $627.6K | -40.2% |
Housing Supply in Russell Ranch, AZ
How many homes are available in Russell Ranch, AZ?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 22 | 21 | -4.5% |
Summary: The Russell Ranch real estate market had 21 homes for sale in March 2024, a 4.5% 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 | 0 | 0 | 0.0% |
| 3 Bedrooms | 6 | 4 | -33.3% |
| 4 Bedrooms | 8 | 9 | +12.5% |
| 5+ Bedrooms | 8 | 8 | 0.0% |
Summary: The Russell 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 33.3%, 4 bedroom homes increased by 12.5%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 3 | 7 | +133.3% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Russell Ranch, you may be able to get a good deal. 57.1% of homes here sold below asking price last month.
Summary: A total of 7 homes were sold or pending in Russell Ranch in March 2024, up by 133.3% month-over-month. Of the 7 sold homes, 57% were sold under asking, 29% were sold at asking, and 14% were sold over asking.
Days on Market for Russell Ranch, AZ
How long does it take to sell a home in Russell Ranch, AZ?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 101 Days | 60 Days | -40.3% |
Summary: Homes in Russell Ranch had an average of 60 days on market in Mar 2024, down by 40.3% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Russell Ranch are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 7 homes were sold in Russell Ranch; 57% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 29% 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.