Is Spectrum, AZ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Spectrum has remained a Seller's Market.
Key Takeaway
Spectrum is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Spectrum, AZ
How much do homes in Spectrum, AZ cost?
Median Sold Price
$512,500
$259/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Spectrum have sold for 12% less than they did a year ago.
Summary: The median home sold price in Spectrum was $512,500 in April 2024, down 12% from last year, and the median price per square foot was $259.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $465K | - | N/A |
| 3 Bedrooms | $470K | $465K | -1.1% |
| 4 Bedrooms | $637.5K | $620K | -2.7% |
| 5+ Bedrooms | $927K | $863K | -6.9% |
Summary: Spectrum 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 did not change, 3 bedroom homes decreased by 1.1%, 4 bedroom homes decreased by 2.7%, and 5+ bedroom homes decreased by 6.9%.
Median Sold Price Compared To Nearby Neighborhoods
| Gilbert Ranch | $460K | $480K | +4.3% |
| Val Vista Classic | $438K | $430K | -1.8% |
| Spectrum | $582.2K | $512.5K | -12.0% |
Housing Supply in Spectrum, AZ
How many homes are available in Spectrum, AZ?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 11 | 13 | +18.2% |
Summary: The Spectrum real estate market had 13 homes for sale in April 2024, a 18.2% increase 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 | 0 | 0 | 0.0% |
| 3 Bedrooms | 7 | 8 | +14.3% |
| 4 Bedrooms | 2 | 3 | +50.0% |
| 5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The Spectrum 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 remained the same, 3 bedroom homes increased by 14.3%, 4 bedroom homes increased by 50%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 2 | 3 | +50.0% |
Asking Price vs. Sold Price
2 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 Spectrum, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.
Summary: A total of 3 homes were sold or pending in Spectrum in April 2024, up by 50.0% month-over-month. Of the 3 sold homes, 67% were sold under asking, 33% were sold at asking, and 0% were sold over asking.
Days on Market for Spectrum, AZ
How long does it take to sell a home in Spectrum, AZ?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 131 Days | 39 Days | -70.3% |
Summary: Homes in Spectrum had an average of 39 days on market in Apr 2024, down by 70.3% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Spectrum has remained consistent over time.
Summary: During April 2024, 3 homes were sold in Spectrum; 33% of homes were sold within 30 days, 67% 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.