Is 85603, AZ a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 85603 is a buyer's market

Buyer's
Market

Difference Since October 2023

At the same time last year, 85603 was a Neutral Market.

Key Takeaway

85603 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in 85603, AZ

How much do homes in 85603, AZ cost?

Median Sold Price

$247,950

$203/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$10,950(+4.6%)

Key Takeaway

Homes in 85603 have sold for 4.6% more than they did a year ago.

Summary: The median home sold price in 85603 was $247,950 in October 2024, up 4.6% from last year, and the median price per square foot was $203.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $223.9K$166.2K
-25.8%
2 $237K$279K
+17.7%
3 $240K$219.7K
-8.4%
4 $150K$400K
+166.7%
5+ $409.5K-
N/A

Summary: 85603 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 25.8%, 2 bedroom homes increased by 17.7%, 3 bedroom homes decreased by 8.4%, 4 bedroom homes increased by 166.7%, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Zip Codes

85615
+14.7%
85603
+4.6%
85638
-10.6%

Housing Supply in 85603, AZ

How many homes are available in 85603, AZ?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
6679+19.7%

Summary: The 85603 real estate market had 79 homes for sale in October 2024, a 19.7% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 97
-22.2%
2 1620
+25.0%
3 2836
+28.6%
4 810
+25.0%
5+ 56
+20.0%

Summary: The 85603 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 22.2%, 2 bedroom homes increased by 25%, 3 bedroom homes increased by 28.6%, 4 bedroom homes increased by 25%, and 5+ bedroom homes increased by 20%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
10100.0%

Asking Price vs. Sold Price

7 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 85603, you may be able to get a good deal. 70% of homes here sold below asking price last month.

Summary: A total of 10 homes were sold or pending in 85603 in October 2024, the same as the previous month. Of the 10 sold homes, 70% were sold under asking, 10% were sold at asking, and 20% were sold over asking.

Days on Market for 85603, AZ

How long does it take to sell a home in 85603, AZ?

Average Sale Time

Oct 2023Oct 2024CHANGE
120 Days176 Days+47.2%

Summary: Homes in 85603 had an average of 176 days on market in Oct 2024, up by 47.2% compared to last year.

Breakdown of Home Sale Times

2 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

5 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Most homes in 85603 are taking a long time to sell, it's a good idea to negotiate on homes here.

Summary: During October 2024, 10 homes were sold in 85603; 20% of homes were sold within 30 days, 30% of homes were sold within 30 to 90 days, and 50% 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 21 Days Ago

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