Is Florence, 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, Florence has remained a Seller's Market.
Housing Prices in Florence, AZ
How much do homes in Florence, AZ cost?
Median Sold Price
$339,892
$196/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Florence was $339,892 in May 2024, down 4.2% from last year, and the median price per square foot was $196.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $123.5K | $133.2K | +7.9% |
2 Bedrooms | $398K | $403.3K | +1.3% |
3 Bedrooms | $325K | $320.4K | -1.4% |
4 Bedrooms | $360.6K | $345K | -4.3% |
5+ Bedrooms | $421K | $408.7K | -2.9% |
Summary: Florence housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 7.9%, 2 bedroom homes increased by 1.3%, 3 bedroom homes decreased by 1.4%, 4 bedroom homes decreased by 4.3%, and 5+ bedroom homes decreased by 2.9%.
Median Sold Price Compared To Nearby Cities
Coolidge | $300K | $300.3K | 0.1% |
North Pinal | $424.9K | $424.9K | 0% |
Florence | $354.8K | $339.8K | -4.2% |
Housing Supply in Florence, AZ
How many homes are available in Florence, AZ?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
276 | 297 | +7.6% |
Summary: The Florence real estate market had 297 homes for sale in May 2024, a 7.6% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 5 | 4 | -20.0% |
2 Bedrooms | 64 | 69 | +7.8% |
3 Bedrooms | 117 | 138 | +17.9% |
4 Bedrooms | 66 | 61 | -7.6% |
5+ Bedrooms | 24 | 25 | +4.2% |
Summary: The Florence housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 20%, 2 bedroom homes increased by 7.8%, 3 bedroom homes increased by 17.9%, 4 bedroom homes decreased by 7.6%, and 5+ bedroom homes increased by 4.2%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
49 | 75 | +53.1% |
Asking Price vs. Sold Price
34 Homes Were Sold
Under Asking
27 Homes Were Sold
At Asking
14 Homes Were Sold
Over Asking
Summary: A total of 75 homes were sold or pending in Florence in May 2024, up by 53.1% month-over-month. Of the 75 sold homes, 45% were sold under asking, 36% were sold at asking, and 19% were sold over asking.
Days on Market for Florence, AZ
How long does it take to sell a home in Florence, AZ?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
91 Days | 70 Days | -23.3% |
Summary: Homes in Florence had an average of 70 days on market in May 2024, down by 23.3% compared to last year.
Breakdown of Home Sale Times
24 Homes Were Sold
Under 30 Days
31 Homes Were Sold
In 30 - 90 Days
20 Homes Were Sold
Over 90 Days
Summary: During May 2024, 75 homes were sold in Florence; 32% of homes were sold within 30 days, 41% of homes were sold within 30 to 90 days, and 27% of homes were sold over 90 days.