Is 85251, AZ a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 85251 is a buyer's market

Buyer's
Market

Difference Since October 2023

At the same time last year, 85251 was a Seller's Market.

Key Takeaway

85251 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in 85251, AZ

How much do homes in 85251, AZ cost?

Median Sold Price

$534,016

$382/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$20,238(+3.9%)

Key Takeaway

Homes in 85251 have sold for 3.9% more than they did a year ago.

Summary: The median home sold price in 85251 was $534,016 in October 2024, up 3.9% from last year, and the median price per square foot was $382.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $274K$275K
0.4%
2 $396.5K$398.2K
0.4%
3 $630K$661.8K
+5.1%
4 $862.5K$1.0M
+20.1%
5+ $2.0M$2.2M
+11.3%

Summary: 85251 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 0.4%, 2 bedroom homes increased by 0.4%, 3 bedroom homes increased by 5.1%, 4 bedroom homes increased by 20.1%, and 5+ bedroom homes increased by 11.3%.

Median Sold Price Compared To Nearby Zip Codes

85018
+18.8%
85257
+5.4%
85250
+4.3%
85251
+3.9%
85253
-1.7%

Housing Supply in 85251, AZ

How many homes are available in 85251, AZ?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
396451+13.9%

Summary: The 85251 real estate market had 451 homes for sale in October 2024, a 13.9% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 5357
+7.5%
2 183212
+15.8%
3 106119
+12.3%
4 4045
+12.5%
5+ 1418
+28.6%

Summary: The 85251 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 7.5%, 2 bedroom homes increased by 15.8%, 3 bedroom homes increased by 12.3%, 4 bedroom homes increased by 12.5%, and 5+ bedroom homes increased by 28.6%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
4064+60.0%

Asking Price vs. Sold Price

51 Homes Were Sold
Under Asking

9 Homes Were Sold
At Asking

4 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 85251, you may be able to get a good deal. 79.7% of homes here sold below asking price last month.

Summary: A total of 64 homes were sold or pending in 85251 in October 2024, up by 60.0% month-over-month. Of the 64 sold homes, 80% were sold under asking, 14% were sold at asking, and 6% were sold over asking.

Days on Market for 85251, AZ

How long does it take to sell a home in 85251, AZ?

Average Sale Time

Oct 2023Oct 2024CHANGE
55 Days83 Days+49.9%

Summary: Homes in 85251 had an average of 83 days on market in Oct 2024, up by 49.9% compared to last year.

Breakdown of Home Sale Times

17 Homes Were Sold
Under 30 Days

24 Homes Were Sold
In 30 - 90 Days

23 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in 85251 has remained consistent over time.

Summary: During October 2024, 64 homes were sold in 85251; 27% of homes were sold within 30 days, 38% of homes were sold within 30 to 90 days, and 36% 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

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