$4,156 Closing Credit*
$350,000
1,045 SqFt
3 Beds
•2 Baths
Joshua Moreno, Listing Office: West USA Realty
Is 85040, AZ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
Since last year, 85040 has remained a Seller's Market.
Key Takeaway
85040 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 85040, AZ
How much do homes in 85040, AZ cost?
Median Sold Price
$351,500
$253/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$11,550(+3.4%)
Key Takeaway
Homes in 85040 have sold for 3.4% more than they did a year ago.
Summary: The median home sold price in 85040 was $351,500 in October 2024, up 3.4% from last year, and the median price per square foot was $253.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $257.8K | $296K | +14.8% |
| 2 Bedrooms | $211.2K | $267.5K | +26.7% |
| 3 Bedrooms | $339K | $350K | +3.2% |
| 4 Bedrooms | $396.2K | $406K | +2.5% |
| 5+ Bedrooms | $350K | $455K | +30.0% |
Summary: 85040 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 14.8%, 2 bedroom homes increased by 26.7%, 3 bedroom homes increased by 3.2%, 4 bedroom homes increased by 2.5%, and 5+ bedroom homes increased by 30%.
Housing Supply in 85040, AZ
How many homes are available in 85040, AZ?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 76 | 88 | +15.8% |
Summary: The 85040 real estate market had 88 homes for sale in October 2024, a 15.8% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 3 | +50.0% |
| 2 Bedrooms | 10 | 14 | +40.0% |
| 3 Bedrooms | 41 | 47 | +14.6% |
| 4 Bedrooms | 20 | 20 | 0.0% |
| 5+ Bedrooms | 3 | 4 | +33.3% |
Summary: The 85040 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 50%, 2 bedroom homes increased by 40%, 3 bedroom homes increased by 14.6%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 33.3%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 14 | 20 | +42.9% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
11 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 85040, expect to pay close to the asking price. 55% of homes here sold near the asking price last month.
Summary: A total of 20 homes were sold or pending in 85040 in October 2024, up by 42.9% month-over-month. Of the 20 sold homes, 35% were sold under asking, 55% were sold at asking, and 10% were sold over asking.
Days on Market for 85040, AZ
How long does it take to sell a home in 85040, AZ?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 25 Days | 62 Days | +141.7% |
Summary: Homes in 85040 had an average of 62 days on market in Oct 2024, up by 141.7% compared to last year.
Breakdown of Home Sale Times
8 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
7 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 85040 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 20 homes were sold in 85040; 40% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 35% of homes were sold over 90 days.
The data relating to real estate for sale on this site comes from the Broker Reciprocity/IDX of Arizona Regional Multiple Listing Service, Inc. Indicates a property listed by a real estate brokerage other than Rocket Homes Real Estate, LLC. All information should be verified by the recipient and none is guaranteed as accurate by ARMLS. No warranties, expressed or implied, are provided for the data herein, or for their use or interpretation by the user. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Arizona Regional Multiple Listing Service, Inc. do not create, control or review the property data displayed herein and take no responsibility for the content of such records. Federal law prohibits discrimination on the basis of race, color, religion, sex, handicap, familial status or national origin in the sale, rental or financing of housing. Information deemed reliable but not guaranteed. Copyright© 2024 Arizona Regional Multiple Listing Service, Inc. All Rights Reserved.