Is 85638, AZ a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 85638 is a seller's market

Buyer's
Market

Difference Since October 2023

At the same time last year, 85638 was a Buyer's Market.

Key Takeaway

85638 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 85638, AZ

How much do homes in 85638, AZ cost?

Median Sold Price

$214,500

$194/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

-$25,500(-10.6%)

Key Takeaway

Homes in 85638 have sold for 10.6% less than they did a year ago.

Summary: The median home sold price in 85638 was $214,500 in October 2024, down 10.6% from last year, and the median price per square foot was $194.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $175.5K$110K
-37.3%
2 $216.5K$197K
-9.0%
3 $260K$249.9K
-3.9%
4 $250K$529.9K
+112.0%
5+ -$165K
N/A

Summary: 85638 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 37.3%, 2 bedroom homes decreased by 9%, 3 bedroom homes decreased by 3.9%, 4 bedroom homes increased by 112%, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Zip Codes

85616
+4.6%
85603
+4.6%
85635
+1.9%
85638
-10.6%
85630
-27.0%

Housing Supply in 85638, AZ

How many homes are available in 85638, AZ?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
1719+11.8%

Summary: The 85638 real estate market had 19 homes for sale in October 2024, a 11.8% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 11
0.0%
2 66
0.0%
3 1012
+20.0%
4 00
0.0%
5+ 00
0.0%

Summary: The 85638 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 remained the same, 3 bedroom homes increased by 20%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
04+100.0%

Asking Price vs. Sold Price

3 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 85638, you may be able to get a good deal. 75% of homes here sold below asking price last month.

Summary: A total of 4 homes were sold or pending in 85638 in October 2024, up by 100.0% month-over-month. Of the 4 sold homes, 75% were sold under asking, 0% were sold at asking, and 25% were sold over asking.

Days on Market for 85638, AZ

How long does it take to sell a home in 85638, AZ?

Average Sale Time

Oct 2023Oct 2024CHANGE
298 Days101 Days-65.9%

Summary: Homes in 85638 had an average of 101 days on market in Oct 2024, down by 65.9% compared to last year.

Breakdown of Home Sale Times

1 Home Was Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

3 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Most homes in 85638 are taking a long time to sell, it's a good idea to negotiate on homes here.

Summary: During October 2024, 4 homes were sold in 85638; 25% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 75% 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 13 Days Ago

Newest Listings in 85638, AZ

Nearby Markets to 85638, AZ