Is 85042, 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, 85042 has remained a Seller's Market.
Housing Prices in 85042, AZ
How much do homes in 85042, AZ cost?
Median Sold Price
$415,375
$259/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in 85042 was $415,375 in May 2024, up 3.8% from last year, and the median price per square foot was $259.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $200K | $198K | -1.0% |
2 Bedrooms | $307.4K | $312.5K | +1.6% |
3 Bedrooms | $407.9K | $418K | +2.5% |
4 Bedrooms | $485K | $510K | +5.2% |
5+ Bedrooms | $640K | $543K | -15.2% |
Summary: 85042 housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 1%, 2 bedroom homes increased by 1.6%, 3 bedroom homes increased by 2.5%, 4 bedroom homes increased by 5.2%, and 5+ bedroom homes decreased by 15.2%.
Housing Supply in 85042, AZ
How many homes are available in 85042, AZ?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
130 | 147 | +13.1% |
Summary: The 85042 real estate market had 147 homes for sale in May 2024, a 13.1% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 2 | 3 | +50.0% |
2 Bedrooms | 16 | 19 | +18.8% |
3 Bedrooms | 62 | 67 | +8.1% |
4 Bedrooms | 41 | 51 | +24.4% |
5+ Bedrooms | 9 | 7 | -22.2% |
Summary: The 85042 housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 50%, 2 bedroom homes increased by 18.8%, 3 bedroom homes increased by 8.1%, 4 bedroom homes increased by 24.4%, and 5+ bedroom homes decreased by 22.2%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
34 | 42 | +23.5% |
Asking Price vs. Sold Price
17 Homes Were Sold
Under Asking
17 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Summary: A total of 42 homes were sold or pending in 85042 in May 2024, up by 23.5% month-over-month. Of the 42 sold homes, 40% were sold under asking, 40% were sold at asking, and 19% were sold over asking.
Days on Market for 85042, AZ
How long does it take to sell a home in 85042, AZ?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
65 Days | 38 Days | -40.7% |
Summary: Homes in 85042 had an average of 38 days on market in May 2024, down by 40.7% compared to last year.
Breakdown of Home Sale Times
12 Homes Were Sold
Under 30 Days
29 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During May 2024, 42 homes were sold in 85042; 29% of homes were sold within 30 days, 69% of homes were sold within 30 to 90 days, and 2% of homes were sold over 90 days.