Is 85131, AZ a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 85131 is a buyer's market

Buyer's
Market

Difference Since November 2023

At the same time last year, 85131 was a Seller's Market.

Key Takeaway

85131 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in 85131, AZ

How much do homes in 85131, AZ cost?

Median Sold Price

$315,500

$202/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$40,500(+14.7%)

Key Takeaway

Homes in 85131 have sold for 14.7% more than they did a year ago.

Summary: The median home sold price in 85131 was $315,500 in November 2024, up 14.7% from last year, and the median price per square foot was $202.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 -$70K
N/A
2 $430K$395K
-8.1%
3 $250K$255K
+2.0%
4 $250K$280K
+12.0%
5+ $290K-
N/A

Summary: 85131 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 8.1%, 3 bedroom homes increased by 2%, 4 bedroom homes increased by 12%, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Zip Codes

85131
+14.7%
85194
+4.6%
85123
+3.8%

Housing Supply in 85131, AZ

How many homes are available in 85131, AZ?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
127147+15.7%

Summary: The 85131 real estate market had 147 homes for sale in November 2024, a 15.7% increase compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 00
0.0%
2 6374
+17.5%
3 5055
+10.0%
4 1418
+28.6%
5+ 00
0.0%

Summary: The 85131 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 increased by 17.5%, 3 bedroom homes increased by 10%, 4 bedroom homes increased by 28.6%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
1211-8.3%

Asking Price vs. Sold Price

8 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 85131, you may be able to get a good deal. 72.7% of homes here sold below asking price last month.

Summary: A total of 11 homes were sold or pending in 85131 in November 2024, down by 8.3% month-over-month. Of the 11 sold homes, 73% were sold under asking, 9% were sold at asking, and 18% were sold over asking.

Days on Market for 85131, AZ

How long does it take to sell a home in 85131, AZ?

Average Sale Time

Nov 2023Nov 2024CHANGE
51 Days139 Days+170.2%

Summary: Homes in 85131 had an average of 139 days on market in Nov 2024, up by 170.2% compared to last year.

Breakdown of Home Sale Times

2 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

7 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Most homes in 85131 are taking a long time to sell, it's a good idea to negotiate on homes here.

Summary: During November 2024, 11 homes were sold in 85131; 18% of homes were sold within 30 days, 18% of homes were sold within 30 to 90 days, and 64% 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

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