Is 85022, AZ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, 85022 has remained a Seller's Market.
Key Takeaway
85022 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 85022, AZ
How much do homes in 85022, AZ cost?
Median Sold Price
$473,350
$288/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in 85022 have sold for 11.4% more than they did a year ago.
Summary: The median home sold price in 85022 was $473,350 in May 2024, up 11.4% from last year, and the median price per square foot was $288.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $227.1K | $223.5K | -1.6% |
| 2 Bedrooms | $319.5K | $325K | +1.7% |
| 3 Bedrooms | $440K | $485K | +10.2% |
| 4 Bedrooms | $600K | $615K | +2.5% |
| 5+ Bedrooms | $875K | $835K | -4.6% |
Summary: 85022 housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 1.6%, 2 bedroom homes increased by 1.7%, 3 bedroom homes increased by 10.2%, 4 bedroom homes increased by 2.5%, and 5+ bedroom homes decreased by 4.6%.
Housing Supply in 85022, AZ
How many homes are available in 85022, AZ?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 224 | 236 | +5.4% |
Summary: The 85022 real estate market had 236 homes for sale in May 2024, a 5.4% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 6 | +100.0% |
| 2 Bedrooms | 54 | 56 | +3.7% |
| 3 Bedrooms | 95 | 102 | +7.4% |
| 4 Bedrooms | 61 | 58 | -4.9% |
| 5+ Bedrooms | 11 | 14 | +27.3% |
Summary: The 85022 housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 3.7%, 3 bedroom homes increased by 7.4%, 4 bedroom homes decreased by 4.9%, and 5+ bedroom homes increased by 27.3%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 49 | 61 | +24.5% |
Asking Price vs. Sold Price
41 Homes Were Sold
Under Asking
9 Homes Were Sold
At Asking
11 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 85022, you may be able to get a good deal. 67.2% of homes here sold below asking price last month.
Summary: A total of 61 homes were sold or pending in 85022 in May 2024, up by 24.5% month-over-month. Of the 61 sold homes, 67% were sold under asking, 15% were sold at asking, and 18% were sold over asking.
Days on Market for 85022, AZ
How long does it take to sell a home in 85022, AZ?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 61 Days | 47 Days | -21.9% |
Summary: Homes in 85022 had an average of 47 days on market in May 2024, down by 21.9% compared to last year.
Breakdown of Home Sale Times
15 Homes Were Sold
Under 30 Days
42 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in 85022 has remained consistent over time.
Summary: During May 2024, 61 homes were sold in 85022; 25% of homes were sold within 30 days, 69% of homes were sold within 30 to 90 days, and 7% 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.