Is Power 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, Power Ranch has remained a Seller's Market.
Housing Prices in Power Ranch, AZ
How much do homes in Power Ranch, AZ cost?
Median Sold Price
$526,000
$260/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Power Ranch was $526,000 in May 2024, up 2.1% from last year, and the median price per square foot was $260.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $475K | $464.9K | -2.1% |
3 Bedrooms | $465K | $461K | -0.9% |
4 Bedrooms | $559K | $557.5K | -0.3% |
5+ Bedrooms | $672.5K | $795K | +18.2% |
Summary: Power Ranch 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 2.1%, 3 bedroom homes decreased by 0.9%, 4 bedroom homes decreased by 0.3%, and 5+ bedroom homes increased by 18.2%.
Median Sold Price Compared To Nearby Neighborhoods
Power Ranch | $515K | $526K | +2.1% |
San Tan Ranch | $522.5K | $489.5K | -6.3% |
Housing Supply in Power Ranch, AZ
How many homes are available in Power Ranch, AZ?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
40 | 36 | -10.0% |
Summary: The Power Ranch real estate market had 36 homes for sale in May 2024, a 10.0% decrease compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 1 | 0 | -100.0% |
3 Bedrooms | 17 | 18 | +5.9% |
4 Bedrooms | 17 | 14 | -17.6% |
5+ Bedrooms | 5 | 4 | -20.0% |
Summary: The Power 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 100%, 3 bedroom homes increased by 5.9%, 4 bedroom homes decreased by 17.6%, and 5+ bedroom homes decreased by 20%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
13 | 10 | -23.1% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Summary: A total of 10 homes were sold or pending in Power Ranch in May 2024, down by 23.1% month-over-month. Of the 10 sold homes, 70% were sold under asking, 0% were sold at asking, and 30% were sold over asking.
Days on Market for Power Ranch, AZ
How long does it take to sell a home in Power Ranch, AZ?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
65 Days | 54 Days | -16.6% |
Summary: Homes in Power Ranch had an average of 54 days on market in May 2024, down by 16.6% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
8 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During May 2024, 10 homes were sold in Power Ranch; 10% of homes were sold within 30 days, 80% of homes were sold within 30 to 90 days, and 10% of homes were sold over 90 days.