Is Maricopa County, 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, Maricopa County has remained a Seller's Market.
Housing Prices in Maricopa County, AZ
How much do homes in Maricopa County, AZ cost?
Median Sold Price
$474,974
$271/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Maricopa County was $474,974 in May 2024, up 3.2% from last year, and the median price per square foot was $271.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $235K | $239.5K | +1.9% |
2 Bedrooms | $350K | $360.6K | +3.0% |
3 Bedrooms | $443.5K | $453.5K | +2.3% |
4 Bedrooms | $551.6K | $573.1K | +3.9% |
5+ Bedrooms | $750K | $781.6K | +4.2% |
Summary: Maricopa County housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 1.9%, 2 bedroom homes increased by 3%, 3 bedroom homes increased by 2.3%, 4 bedroom homes increased by 3.9%, and 5+ bedroom homes increased by 4.2%.
Median Sold Price Compared To Nearby Counties
Yavapai County | $538.7K | $590.3K | +9.6% |
Gila County | $409.2K | $445K | +8.7% |
Maricopa County | $460.3K | $474.9K | +3.2% |
Pinal County | $373.5K | $365K | -2.3% |
Housing Supply in Maricopa County, AZ
How many homes are available in Maricopa County, AZ?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
22,906 | 23,263 | +1.6% |
Summary: The Maricopa County real estate market had 23,263 homes for sale in May 2024, a 1.6% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 499 | 510 | +2.2% |
2 Bedrooms | 4,746 | 4,634 | -2.4% |
3 Bedrooms | 8,471 | 8,579 | +1.3% |
4 Bedrooms | 6,669 | 6,873 | +3.1% |
5+ Bedrooms | 2,521 | 2,667 | +5.8% |
Summary: The Maricopa County housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 2.2%, 2 bedroom homes decreased by 2.4%, 3 bedroom homes increased by 1.3%, 4 bedroom homes increased by 3.1%, and 5+ bedroom homes increased by 5.8%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
5,427 | 5,802 | +6.9% |
Asking Price vs. Sold Price
3,237 Homes Were Sold
Under Asking
1,547 Homes Were Sold
At Asking
1,018 Homes Were Sold
Over Asking
Summary: A total of 5,802 homes were sold or pending in Maricopa County in May 2024, up by 6.9% month-over-month. Of the 5,802 sold homes, 56% were sold under asking, 27% were sold at asking, and 18% were sold over asking.
Days on Market for Maricopa County, AZ
How long does it take to sell a home in Maricopa County, AZ?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
63 Days | 58 Days | -6.8% |
Summary: Homes in Maricopa County had an average of 58 days on market in May 2024, down by 6.8% compared to last year.
Breakdown of Home Sale Times
2,084 Homes Were Sold
Under 30 Days
2,599 Homes Were Sold
In 30 - 90 Days
1,119 Homes Were Sold
Over 90 Days
Summary: During May 2024, 5802 homes were sold in Maricopa County; 36% of homes were sold within 30 days, 45% of homes were sold within 30 to 90 days, and 19% of homes were sold over 90 days.