Is South Mountain, 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, South Mountain has remained a Seller's Market.
Key Takeaway
South Mountain is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in South Mountain, AZ
How much do homes in South Mountain, AZ cost?
Median Sold Price
$380,363
$251/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
The sold price of homes in South Mountain has remained the same since last year.
Summary: The median home sold price in South Mountain was $380,363 in April 2024, up 0.1% from last year, and the median price per square foot was $251.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $257.8K | $207.5K | -19.5% |
| 2 Bedrooms | $307.7K | $307.2K | -0.2% |
| 3 Bedrooms | $374.9K | $375K | 0.0% |
| 4 Bedrooms | $426.9K | $430.3K | +0.8% |
| 5+ Bedrooms | $536K | $495K | -7.6% |
Summary: South Mountain housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 19.5%, 2 bedroom homes decreased by 0.2%, 3 bedroom homes did not change, 4 bedroom homes increased by 0.8%, and 5+ bedroom homes decreased by 7.6%.
Median Sold Price Compared To Nearby Neighborhoods
| Park South | $315K | $339.9K | +7.9% |
| South Mountain | $379.9K | $380.3K | 0.1% |
Housing Supply in South Mountain, AZ
How many homes are available in South Mountain, AZ?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 365 | 361 | -1.1% |
Summary: The South Mountain real estate market had 361 homes for sale in April 2024, a 1.1% decrease compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 4 | 5 | +25.0% |
| 2 Bedrooms | 44 | 41 | -6.8% |
| 3 Bedrooms | 169 | 169 | 0.0% |
| 4 Bedrooms | 123 | 120 | -2.4% |
| 5+ Bedrooms | 25 | 26 | +4.0% |
Summary: The South Mountain housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 25%, 2 bedroom homes decreased by 6.8%, 3 bedroom homes remained the same, 4 bedroom homes decreased by 2.4%, and 5+ bedroom homes increased by 4%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 107 | 94 | -12.1% |
Asking Price vs. Sold Price
44 Homes Were Sold
Under Asking
28 Homes Were Sold
At Asking
22 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in South Mountain, you may be able to get a good deal. 46.8% of homes here sold below asking price last month.
Summary: A total of 94 homes were sold or pending in South Mountain in April 2024, down by 12.1% month-over-month. Of the 94 sold homes, 47% were sold under asking, 30% were sold at asking, and 23% were sold over asking.
Days on Market for South Mountain, AZ
How long does it take to sell a home in South Mountain, AZ?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 72 Days | 49 Days | -31.5% |
Summary: Homes in South Mountain had an average of 49 days on market in Apr 2024, down by 31.5% compared to last year.
Breakdown of Home Sale Times
33 Homes Were Sold
Under 30 Days
50 Homes Were Sold
In 30 - 90 Days
11 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in South Mountain has remained consistent over time.
Summary: During April 2024, 94 homes were sold in South Mountain; 35% of homes were sold within 30 days, 53% of homes were sold within 30 to 90 days, and 12% 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.