Is 85018, 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, 85018 has remained a Seller's Market.
Housing Prices in 85018, AZ
How much do homes in 85018, AZ cost?
Median Sold Price
$1,088,500
$481/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in 85018 was $1,088,500 in May 2024, up 28.1% from last year, and the median price per square foot was $481.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $258K | $272.5K | +5.6% |
2 Bedrooms | $350K | $387.5K | +10.7% |
3 Bedrooms | $740K | $810K | +9.5% |
4 Bedrooms | $1.4M | $1.6M | +17.1% |
5+ Bedrooms | $2.3M | $2.6M | +15.9% |
Summary: 85018 housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 5.6%, 2 bedroom homes increased by 10.7%, 3 bedroom homes increased by 9.5%, 4 bedroom homes increased by 17.1%, and 5+ bedroom homes increased by 15.9%.
Housing Supply in 85018, AZ
How many homes are available in 85018, AZ?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
291 | 310 | +6.5% |
Summary: The 85018 real estate market had 310 homes for sale in May 2024, a 6.5% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 11 | 13 | +18.2% |
2 Bedrooms | 50 | 61 | +22.0% |
3 Bedrooms | 74 | 73 | -1.4% |
4 Bedrooms | 103 | 103 | 0.0% |
5+ Bedrooms | 53 | 60 | +13.2% |
Summary: The 85018 housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 18.2%, 2 bedroom homes increased by 22%, 3 bedroom homes decreased by 1.4%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 13.2%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
53 | 74 | +39.6% |
Asking Price vs. Sold Price
55 Homes Were Sold
Under Asking
15 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Summary: A total of 74 homes were sold or pending in 85018 in May 2024, up by 39.6% month-over-month. Of the 74 sold homes, 74% were sold under asking, 20% were sold at asking, and 5% were sold over asking.
Days on Market for 85018, AZ
How long does it take to sell a home in 85018, AZ?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
70 Days | 64 Days | -9.5% |
Summary: Homes in 85018 had an average of 64 days on market in May 2024, down by 9.5% compared to last year.
Breakdown of Home Sale Times
23 Homes Were Sold
Under 30 Days
34 Homes Were Sold
In 30 - 90 Days
17 Homes Were Sold
Over 90 Days
Summary: During May 2024, 74 homes were sold in 85018; 31% of homes were sold within 30 days, 46% of homes were sold within 30 to 90 days, and 23% of homes were sold over 90 days.