Is South Mountain, 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, South Mountain has remained a Seller's Market.
Housing Prices in South Mountain, AZ
How much do homes in South Mountain, AZ cost?
Median Sold Price
$380,111
$249/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in South Mountain was $380,111 in March 2024, down 0.8% from last year, and the median price per square foot was $249.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $263.5K | $200K | -24.1% |
2 Bedrooms | $306.1K | $307.2K | 0.3% |
3 Bedrooms | $378.4K | $373.6K | -1.3% |
4 Bedrooms | $430K | $434.8K | +1.1% |
5+ Bedrooms | $543.5K | $505.2K | -7.0% |
Summary: South Mountain housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 24.1%, 2 bedroom homes increased by 0.3%, 3 bedroom homes decreased by 1.3%, 4 bedroom homes increased by 1.1%, and 5+ bedroom homes decreased by 7%.
Housing Supply in South Mountain, AZ
How many homes are available in South Mountain, AZ?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
339 | 352 | +3.8% |
Summary: The South Mountain real estate market had 352 homes for sale in March 2024, a 3.8% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 4 | 4 | 0.0% |
2 Bedrooms | 49 | 45 | -8.2% |
3 Bedrooms | 159 | 167 | +5.0% |
4 Bedrooms | 104 | 111 | +6.7% |
5+ Bedrooms | 23 | 25 | +8.7% |
Summary: The South Mountain 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 8.2%, 3 bedroom homes increased by 5%, 4 bedroom homes increased by 6.7%, and 5+ bedroom homes increased by 8.7%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
80 | 108 | +35.0% |
Asking Price vs. Sold Price
52 Homes Were Sold
Under Asking
36 Homes Were Sold
At Asking
20 Homes Were Sold
Over Asking
Summary: A total of 108 homes were sold or pending in South Mountain in March 2024, up by 35.0% month-over-month. Of the 108 sold homes, 48% were sold under asking, 33% were sold at asking, and 19% were sold over asking.
Days on Market for South Mountain, AZ
How long does it take to sell a home in South Mountain, AZ?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
67 Days | 55 Days | -18.6% |
Summary: Homes in South Mountain had an average of 55 days on market in Mar 2024, down by 18.6% compared to last year.
Breakdown of Home Sale Times
35 Homes Were Sold
Under 30 Days
52 Homes Were Sold
In 30 - 90 Days
21 Homes Were Sold
Over 90 Days
Summary: During March 2024, 108 homes were sold in South Mountain; 32% of homes were sold within 30 days, 48% of homes were sold within 30 to 90 days, and 19% of homes were sold over 90 days.