Is McCormick Ranch, 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, McCormick Ranch has remained a Seller's Market.
Housing Prices in McCormick Ranch, AZ
How much do homes in McCormick Ranch, AZ cost?
Median Sold Price
$840,000
$421/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in McCormick Ranch was $840,000 in May 2024, up 5% from last year, and the median price per square foot was $421.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $285K | $303.5K | +6.5% |
2 Bedrooms | $552.7K | $641.4K | +16.0% |
3 Bedrooms | $798.7K | $850K | +6.4% |
4 Bedrooms | $1.2M | $1.3M | +9.1% |
5+ Bedrooms | $1.5M | $1.7M | +9.3% |
Summary: McCormick Ranch housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 6.5%, 2 bedroom homes increased by 16%, 3 bedroom homes increased by 6.4%, 4 bedroom homes increased by 9.1%, and 5+ bedroom homes increased by 9.3%.
Housing Supply in McCormick Ranch, AZ
How many homes are available in McCormick Ranch, AZ?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
160 | 148 | -7.5% |
Summary: The McCormick Ranch real estate market had 148 homes for sale in May 2024, a 7.5% decrease compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 7 | 7 | 0.0% |
2 Bedrooms | 47 | 41 | -12.8% |
3 Bedrooms | 75 | 65 | -13.3% |
4 Bedrooms | 28 | 32 | +14.3% |
5+ Bedrooms | 3 | 3 | 0.0% |
Summary: The McCormick Ranch housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 12.8%, 3 bedroom homes decreased by 13.3%, 4 bedroom homes increased by 14.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
43 | 41 | -4.7% |
Asking Price vs. Sold Price
26 Homes Were Sold
Under Asking
10 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Summary: A total of 41 homes were sold or pending in McCormick Ranch in May 2024, down by 4.7% month-over-month. Of the 41 sold homes, 63% were sold under asking, 24% were sold at asking, and 12% were sold over asking.
Days on Market for McCormick Ranch, AZ
How long does it take to sell a home in McCormick Ranch, AZ?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
65 Days | 46 Days | -29.1% |
Summary: Homes in McCormick Ranch had an average of 46 days on market in May 2024, down by 29.1% compared to last year.
Breakdown of Home Sale Times
16 Homes Were Sold
Under 30 Days
18 Homes Were Sold
In 30 - 90 Days
7 Homes Were Sold
Over 90 Days
Summary: During May 2024, 41 homes were sold in McCormick Ranch; 39% of homes were sold within 30 days, 44% of homes were sold within 30 to 90 days, and 17% of homes were sold over 90 days.