Is 85085, 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, 85085 has remained a Seller's Market.
Housing Prices in 85085, AZ
How much do homes in 85085, AZ cost?
Median Sold Price
$638,052
$283/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in 85085 was $638,052 in May 2024, up 6% from last year, and the median price per square foot was $283.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $380K | $340K | -10.5% |
3 Bedrooms | $537.5K | $568.4K | +5.8% |
4 Bedrooms | $679.8K | $699.9K | +3.0% |
5+ Bedrooms | $815K | $836.9K | +2.7% |
Summary: 85085 housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 10.5%, 3 bedroom homes increased by 5.8%, 4 bedroom homes increased by 3%, and 5+ bedroom homes increased by 2.7%.
Housing Supply in 85085, AZ
How many homes are available in 85085, AZ?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
190 | 190 | 0.0% |
Summary: The 85085 real estate market had 190 homes for sale in May 2024, the same as April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 19 | 21 | +10.5% |
3 Bedrooms | 56 | 60 | +7.1% |
4 Bedrooms | 82 | 77 | -6.1% |
5+ Bedrooms | 33 | 32 | -3.0% |
Summary: The 85085 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 increased by 10.5%, 3 bedroom homes increased by 7.1%, 4 bedroom homes decreased by 6.1%, and 5+ bedroom homes decreased by 3%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
50 | 37 | -26.0% |
Asking Price vs. Sold Price
26 Homes Were Sold
Under Asking
8 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Summary: A total of 37 homes were sold or pending in 85085 in May 2024, down by 26.0% month-over-month. Of the 37 sold homes, 70% were sold under asking, 22% were sold at asking, and 8% were sold over asking.
Days on Market for 85085, AZ
How long does it take to sell a home in 85085, AZ?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
62 Days | 76 Days | +22.8% |
Summary: Homes in 85085 had an average of 76 days on market in May 2024, up by 22.8% compared to last year.
Breakdown of Home Sale Times
10 Homes Were Sold
Under 30 Days
16 Homes Were Sold
In 30 - 90 Days
11 Homes Were Sold
Over 90 Days
Summary: During May 2024, 37 homes were sold in 85085; 27% of homes were sold within 30 days, 43% of homes were sold within 30 to 90 days, and 30% of homes were sold over 90 days.