Is 85207, AZ a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 85207 is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, 85207 has remained a Seller's Market.

Key Takeaway

85207 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 85207, AZ

How much do homes in 85207, AZ cost?

Median Sold Price

$627,360

$300/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$108,426(+20.9%)

Key Takeaway

Homes in 85207 have sold for 20.9% more than they did a year ago.

Summary: The median home sold price in 85207 was $627,360 in October 2024, up 20.9% from last year, and the median price per square foot was $300.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $180K$187.5K
+4.2%
2 $320K$351K
+9.7%
3 $450K$522.6K
+16.1%
4 $635K$739K
+16.4%
5+ $936K$995K
+6.3%

Summary: 85207 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 4.2%, 2 bedroom homes increased by 9.7%, 3 bedroom homes increased by 16.1%, 4 bedroom homes increased by 16.4%, and 5+ bedroom homes increased by 6.3%.

Median Sold Price Compared To Nearby Zip Codes

85207
+20.9%
85120
+6.9%
85215
+6.0%
85205
+2.7%
85208
+1.8%

Housing Supply in 85207, AZ

How many homes are available in 85207, AZ?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
231250+8.2%

Summary: The 85207 real estate market had 250 homes for sale in October 2024, a 8.2% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 11
0.0%
2 1716
-5.9%
3 95107
+12.6%
4 7682
+7.9%
5+ 4244
+4.8%

Summary: The 85207 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 5.9%, 3 bedroom homes increased by 12.6%, 4 bedroom homes increased by 7.9%, and 5+ bedroom homes increased by 4.8%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
3847+23.7%

Asking Price vs. Sold Price

26 Homes Were Sold
Under Asking

15 Homes Were Sold
At Asking

6 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 85207, you may be able to get a good deal. 55.3% of homes here sold below asking price last month.

Summary: A total of 47 homes were sold or pending in 85207 in October 2024, up by 23.7% month-over-month. Of the 47 sold homes, 55% were sold under asking, 32% were sold at asking, and 13% were sold over asking.

Days on Market for 85207, AZ

How long does it take to sell a home in 85207, AZ?

Average Sale Time

Oct 2023Oct 2024CHANGE
40 Days47 Days+18.6%

Summary: Homes in 85207 had an average of 47 days on market in Oct 2024, up by 18.6% compared to last year.

Breakdown of Home Sale Times

19 Homes Were Sold
Under 30 Days

22 Homes Were Sold
In 30 - 90 Days

6 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in 85207 has remained consistent over time.

Summary: During October 2024, 47 homes were sold in 85207; 40% of homes were sold within 30 days, 47% of homes were sold within 30 to 90 days, and 13% 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

Newest Listings in 85207, AZ

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