Is The Groves, 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, The Groves has remained a Seller's Market.
Housing Prices in The Groves, AZ
How much do homes in The Groves, AZ cost?
Median Sold Price
$540,000
$270/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in The Groves was $540,000 in April 2024, up 2.3% from last year, and the median price per square foot was $270.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $299.5K | $320K | +6.8% |
3 Bedrooms | $420K | $460K | +9.5% |
4 Bedrooms | $550K | $650K | +18.2% |
5+ Bedrooms | $980K | $920K | -6.1% |
Summary: The Groves 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 increased by 6.8%, 3 bedroom homes increased by 9.5%, 4 bedroom homes increased by 18.2%, and 5+ bedroom homes decreased by 6.1%.
Housing Supply in The Groves, AZ
How many homes are available in The Groves, AZ?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
32 | 39 | +21.9% |
Summary: The The Groves real estate market had 39 homes for sale in April 2024, a 21.9% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 1 | 0.0% |
2 Bedrooms | 7 | 5 | -28.6% |
3 Bedrooms | 7 | 10 | +42.9% |
4 Bedrooms | 8 | 10 | +25.0% |
5+ Bedrooms | 9 | 13 | +44.4% |
Summary: The The Groves 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 28.6%, 3 bedroom homes increased by 42.9%, 4 bedroom homes increased by 25%, and 5+ bedroom homes increased by 44.4%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
6 | 10 | +66.7% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Summary: A total of 10 homes were sold or pending in The Groves in April 2024, up by 66.7% month-over-month. Of the 10 sold homes, 50% were sold under asking, 40% were sold at asking, and 10% were sold over asking.
Days on Market for The Groves, AZ
How long does it take to sell a home in The Groves, AZ?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
47 Days | 43 Days | -9.1% |
Summary: Homes in The Groves had an average of 43 days on market in Apr 2024, down by 9.1% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During April 2024, 10 homes were sold in The Groves; 40% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 10% of homes were sold over 90 days.