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 November 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

$258,790

$182/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$9,417(+3.8%)

Key Takeaway

Homes in 85123 have sold for 3.8% more than they did a year ago.

Summary: The median home sold price in 85123 was $258,790 in November 2024, up 3.8% from last year, and the median price per square foot was $182.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 -$98.2K
N/A
2 $220K$212K
-3.6%
3 $254.9K$254.9K
0.0%
4 $247.9K$292K
+17.7%
5+ $355K$370K
+4.2%

Summary: 85123 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 3.6%, 3 bedroom homes did not change, 4 bedroom homes increased by 17.7%, and 5+ bedroom homes increased by 4.2%.

Median Sold Price Compared To Nearby Zip Codes

85131
+14.7%
85123
+3.8%

Housing Supply in 85123, AZ

How many homes are available in 85123, AZ?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
202215+6.4%

Summary: The 85123 real estate market had 215 homes for sale in November 2024, a 6.4% increase compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 00
0.0%
2 109
-10.0%
3 158169
+7.0%
4 3236
+12.5%
5+ 21
-50.0%

Summary: The 85123 housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 10%, 3 bedroom homes increased by 7%, 4 bedroom homes increased by 12.5%, and 5+ bedroom homes decreased by 50%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
3438+11.8%

Asking Price vs. Sold Price

15 Homes Were Sold
Under Asking

18 Homes Were Sold
At Asking

5 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. 47.4% of homes here sold near the asking price last month.

Summary: A total of 38 homes were sold or pending in 85123 in November 2024, up by 11.8% month-over-month. Of the 38 sold homes, 39% were sold under asking, 47% were sold at asking, and 13% 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

Nov 2023Nov 2024CHANGE
47 Days62 Days+31.8%

Summary: Homes in 85123 had an average of 62 days on market in Nov 2024, up by 31.8% compared to last year.

Breakdown of Home Sale Times

14 Homes Were Sold
Under 30 Days

16 Homes Were Sold
In 30 - 90 Days

8 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 November 2024, 38 homes were sold in 85123; 37% of homes were sold within 30 days, 42% of homes were sold within 30 to 90 days, and 21% 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 22 Days Ago

Newest Listings in 85123, AZ

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