Is 85008, AZ a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 85008 is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, 85008 has remained a Seller's Market.

Key Takeaway

85008 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 85008, AZ

How much do homes in 85008, AZ cost?

Median Sold Price

$429,000

$313/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$54,000(+14.4%)

Key Takeaway

Homes in 85008 have sold for 14.4% more than they did a year ago.

Summary: The median home sold price in 85008 was $429,000 in October 2024, up 14.4% from last year, and the median price per square foot was $313.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $212.5K$220K
+3.5%
2 $285K$305K
+7.0%
3 $410K$475K
+15.9%
4 $599.9K$555K
-7.5%
5+ $612.5K$535K
-12.7%

Summary: 85008 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 3.5%, 2 bedroom homes increased by 7%, 3 bedroom homes increased by 15.9%, 4 bedroom homes decreased by 7.5%, and 5+ bedroom homes decreased by 12.7%.

Median Sold Price Compared To Nearby Zip Codes

85018
+18.8%
85008
+14.4%
85016
+9.9%
85034
+5.4%
85006
+1.8%

Housing Supply in 85008, AZ

How many homes are available in 85008, AZ?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
98111+13.3%

Summary: The 85008 real estate market had 111 homes for sale in October 2024, a 13.3% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 24
+100.0%
2 2838
+35.7%
3 4347
+9.3%
4 1916
-15.8%
5+ 66
0.0%

Summary: The 85008 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 35.7%, 3 bedroom homes increased by 9.3%, 4 bedroom homes decreased by 15.8%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
1722+29.4%

Asking Price vs. Sold Price

7 Homes Were Sold
Under Asking

9 Homes Were Sold
At Asking

6 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 85008, expect to pay close to the asking price. 40.9% of homes here sold near the asking price last month.

Summary: A total of 22 homes were sold or pending in 85008 in October 2024, up by 29.4% month-over-month. Of the 22 sold homes, 32% were sold under asking, 41% were sold at asking, and 27% were sold over asking.

Days on Market for 85008, AZ

How long does it take to sell a home in 85008, AZ?

Average Sale Time

Oct 2023Oct 2024CHANGE
32 Days63 Days+95.6%

Summary: Homes in 85008 had an average of 63 days on market in Oct 2024, up by 95.6% compared to last year.

Breakdown of Home Sale Times

6 Homes Were Sold
Under 30 Days

11 Homes Were Sold
In 30 - 90 Days

5 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in 85008 has remained consistent over time.

Summary: During October 2024, 22 homes were sold in 85008; 27% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 23% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 4 Days Ago

Newest Listings in 85008, AZ

Nearby Markets to 85008, AZ