Is 85018, AZ a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 85018 is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, 85018 has remained a Seller's Market.

Key Takeaway

85018 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 85018, AZ

How much do homes in 85018, AZ cost?

Median Sold Price

$1,107,500

$482/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$175,250(+18.8%)

Key Takeaway

Homes in 85018 have sold for 18.8% more than they did a year ago.

Summary: The median home sold price in 85018 was $1,107,500 in October 2024, up 18.8% from last year, and the median price per square foot was $482.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $262.5K$260K
-1.0%
2 $347.4K$395K
+13.7%
3 $760.6K$805K
+5.8%
4 $1.4M$1.7M
+20.0%
5+ $2.5M$2.3M
-9.7%

Summary: 85018 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 1%, 2 bedroom homes increased by 13.7%, 3 bedroom homes increased by 5.8%, 4 bedroom homes increased by 20%, and 5+ bedroom homes decreased by 9.7%.

Median Sold Price Compared To Nearby Zip Codes

85018
+18.8%
85008
+14.4%
85016
+9.9%
85251
+3.9%
85253
-1.7%

Housing Supply in 85018, AZ

How many homes are available in 85018, AZ?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
228273+19.7%

Summary: The 85018 real estate market had 273 homes for sale in October 2024, a 19.7% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 1314
+7.7%
2 3656
+55.6%
3 5564
+16.4%
4 7583
+10.7%
5+ 4956
+14.3%

Summary: The 85018 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 7.7%, 2 bedroom homes increased by 55.6%, 3 bedroom homes increased by 16.4%, 4 bedroom homes increased by 10.7%, and 5+ bedroom homes increased by 14.3%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
3055+83.3%

Asking Price vs. Sold Price

33 Homes Were Sold
Under Asking

10 Homes Were Sold
At Asking

12 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 85018, you may be able to get a good deal. 60% of homes here sold below asking price last month.

Summary: A total of 55 homes were sold or pending in 85018 in October 2024, up by 83.3% month-over-month. Of the 55 sold homes, 60% were sold under asking, 18% were sold at asking, and 22% were sold over asking.

Days on Market for 85018, AZ

How long does it take to sell a home in 85018, AZ?

Average Sale Time

Oct 2023Oct 2024CHANGE
70 Days71 Days+1.5%

Summary: Homes in 85018 had an average of 71 days on market in Oct 2024, up by 1.5% compared to last year.

Breakdown of Home Sale Times

22 Homes Were Sold
Under 30 Days

18 Homes Were Sold
In 30 - 90 Days

15 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 85018 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 55 homes were sold in 85018; 40% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 27% 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

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