Is 85234, AZ a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 85234 is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, 85234 has remained a Seller's Market.

Key Takeaway

85234 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 85234, AZ

How much do homes in 85234, AZ cost?

Median Sold Price

$560,000

$297/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$15,583(+2.9%)

Key Takeaway

Homes in 85234 have sold for 2.9% more than they did a year ago.

Summary: The median home sold price in 85234 was $560,000 in October 2024, up 2.9% from last year, and the median price per square foot was $297.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $300K$320K
+6.7%
2 $328K$349.5K
+6.6%
3 $468.7K$499.9K
+6.6%
4 $590K$612.5K
+3.8%
5+ $775K$899.9K
+16.1%

Summary: 85234 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 6.7%, 2 bedroom homes increased by 6.6%, 3 bedroom homes increased by 6.6%, 4 bedroom homes increased by 3.8%, and 5+ bedroom homes increased by 16.1%.

Median Sold Price Compared To Nearby Zip Codes

85233
+6.1%
85296
+5.4%
85234
+2.9%
85206
+1.6%
85204
+0.6%

Housing Supply in 85234, AZ

How many homes are available in 85234, AZ?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
184197+7.1%

Summary: The 85234 real estate market had 197 homes for sale in October 2024, a 7.1% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 00
0.0%
2 1412
-14.3%
3 5857
-1.7%
4 7888
+12.8%
5+ 3440
+17.6%

Summary: The 85234 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 14.3%, 3 bedroom homes decreased by 1.7%, 4 bedroom homes increased by 12.8%, and 5+ bedroom homes increased by 17.6%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
3640+11.1%

Asking Price vs. Sold Price

23 Homes Were Sold
Under Asking

12 Homes Were Sold
At Asking

5 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 85234, you may be able to get a good deal. 57.5% of homes here sold below asking price last month.

Summary: A total of 40 homes were sold or pending in 85234 in October 2024, up by 11.1% month-over-month. Of the 40 sold homes, 57% were sold under asking, 30% were sold at asking, and 13% were sold over asking.

Days on Market for 85234, AZ

How long does it take to sell a home in 85234, AZ?

Average Sale Time

Oct 2023Oct 2024CHANGE
38 Days53 Days+40.6%

Summary: Homes in 85234 had an average of 53 days on market in Oct 2024, up by 40.6% compared to last year.

Breakdown of Home Sale Times

16 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

Many homes in 85234 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 40 homes were sold in 85234; 40% of homes were sold within 30 days, 40% of homes were sold within 30 to 90 days, and 20% 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 85234, AZ

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