Is Terramar, 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, Terramar has remained a Seller's Market.
Key Takeaway
Terramar is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Terramar, AZ
How much do homes in Terramar, AZ cost?
Median Sold Price
$585,000
$248/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Terramar have sold for 9.1% less than they did a year ago.
Summary: The median home sold price in Terramar was $585,000 in April 2024, down 9.1% from last year, and the median price per square foot was $248.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | - | - | N/A |
| 3 Bedrooms | $570K | $510K | -10.5% |
| 4 Bedrooms | $642K | $585K | -8.9% |
| 5+ Bedrooms | $679K | $710K | +4.6% |
Summary: Terramar 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 10.5%, 4 bedroom homes decreased by 8.9%, and 5+ bedroom homes increased by 4.6%.
Median Sold Price Compared To Nearby Neighborhoods
| Eagle Ridge | $477.5K | $510K | +6.8% |
| Entrada | $520K | $518.5K | -0.3% |
| Mesquite | $675.7K | $652K | -3.5% |
| Terramar | $643.5K | $585K | -9.1% |
Housing Supply in Terramar, AZ
How many homes are available in Terramar, AZ?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 26 | 32 | +23.1% |
Summary: The Terramar real estate market had 32 homes for sale in April 2024, a 23.1% 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 | 8 | 9 | +12.5% |
| 4 Bedrooms | 6 | 10 | +66.7% |
| 5+ Bedrooms | 12 | 13 | +8.3% |
Summary: The Terramar 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 12.5%, 4 bedroom homes increased by 66.7%, and 5+ bedroom homes increased by 8.3%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 5 | 6 | +20.0% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Terramar, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.
Summary: A total of 6 homes were sold or pending in Terramar in April 2024, up by 20.0% month-over-month. Of the 6 sold homes, 67% were sold under asking, 0% were sold at asking, and 33% were sold over asking.
Days on Market for Terramar, AZ
How long does it take to sell a home in Terramar, AZ?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 72 Days | 68 Days | -5.1% |
Summary: Homes in Terramar had an average of 68 days on market in Apr 2024, down by 5.1% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in Terramar are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During April 2024, 6 homes were sold in Terramar; 33% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 50% 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.