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 26 Days Ago

Newest Listings in 85207, AZ

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