Is 85123, AZ a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 85123 is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, 85123 has remained a Seller's Market.

Key Takeaway

85123 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 85123, AZ

How much do homes in 85123, AZ cost?

Median Sold Price

$257,995

$182/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$8,495(+3.4%)

Key Takeaway

Homes in 85123 have sold for 3.4% more than they did a year ago.

Summary: The median home sold price in 85123 was $257,995 in October 2024, up 3.4% from last year, and the median price per square foot was $182.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 -$98.2K
N/A
2 $220K$216K
-1.8%
3 $254.9K$254.8K
-0.1%
4 $247.9K$299.9K
+21.0%
5+ $355K$370K
+4.2%

Summary: 85123 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 1.8%, 3 bedroom homes decreased by 0.1%, 4 bedroom homes increased by 21%, and 5+ bedroom homes increased by 4.2%.

Median Sold Price Compared To Nearby Zip Codes

85131
+12.4%
85123
+3.4%
85193
-34.6%

Housing Supply in 85123, AZ

How many homes are available in 85123, AZ?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
188200+6.4%

Summary: The 85123 real estate market had 200 homes for sale in October 2024, a 6.4% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 00
0.0%
2 129
-25.0%
3 143155
+8.4%
4 3134
+9.7%
5+ 22
0.0%

Summary: The 85123 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 25%, 3 bedroom homes increased by 8.4%, 4 bedroom homes increased by 9.7%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
3936-7.7%

Asking Price vs. Sold Price

13 Homes Were Sold
Under Asking

17 Homes Were Sold
At Asking

6 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 85123, expect to pay close to the asking price. 47.2% of homes here sold near the asking price last month.

Summary: A total of 36 homes were sold or pending in 85123 in October 2024, down by 7.7% month-over-month. Of the 36 sold homes, 36% were sold under asking, 47% were sold at asking, and 17% were sold over asking.

Days on Market for 85123, AZ

How long does it take to sell a home in 85123, AZ?

Average Sale Time

Oct 2023Oct 2024CHANGE
45 Days73 Days+61.9%

Summary: Homes in 85123 had an average of 73 days on market in Oct 2024, up by 61.9% compared to last year.

Breakdown of Home Sale Times

10 Homes Were Sold
Under 30 Days

19 Homes Were Sold
In 30 - 90 Days

7 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in 85123 has remained consistent over time.

Summary: During October 2024, 36 homes were sold in 85123; 28% of homes were sold within 30 days, 53% of homes were sold within 30 to 90 days, and 19% 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 13 Days Ago

Newest Listings in 85123, AZ

Nearby Markets to 85123, AZ