Is Maricopa County, AZ a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Maricopa County is a seller's market

Buyer's
Market

Difference Since November 2023

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

Key Takeaway

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

Housing Prices in Maricopa County, AZ

How much do homes in Maricopa County, AZ cost?

Median Sold Price

$479,600

$272/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$21,390(+4.7%)

Key Takeaway

Homes in Maricopa County have sold for 4.7% more than they did a year ago.

Summary: The median home sold price in Maricopa County was $479,600 in November 2024, up 4.7% from last year, and the median price per square foot was $272.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $234.9K$230.4K
-1.9%
2 $349.9K$364.7K
+4.2%
3 $438.5K$456K
+4.0%
4 $550.2K$574.8K
+4.5%
5+ $746.2K$781K
+4.7%

Summary: Maricopa County housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 1.9%, 2 bedroom homes increased by 4.2%, 3 bedroom homes increased by 4%, 4 bedroom homes increased by 4.5%, and 5+ bedroom homes increased by 4.7%.

Median Sold Price Compared To Nearby Counties

Maricopa County
+4.7%
Pinal County
+1.4%
Yavapai County
+0.6%
Gila County
-1.4%

Housing Supply in Maricopa County, AZ

How many homes are available in Maricopa County, AZ?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
23,29823,227-0.3%

Summary: The Maricopa County real estate market had 23,227 homes for sale in November 2024, a 0.3% decrease compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 489497
+1.6%
2 4,5804,806
+4.9%
3 8,7678,591
-2.0%
4 6,8866,782
-1.5%
5+ 2,5762,551
-1.0%

Summary: The Maricopa County housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 1.6%, 2 bedroom homes increased by 4.9%, 3 bedroom homes decreased by 2%, 4 bedroom homes decreased by 1.5%, and 5+ bedroom homes decreased by 1%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
4,4533,966-10.9%

Asking Price vs. Sold Price

2,276 Homes Were Sold
Under Asking

1,107 Homes Were Sold
At Asking

583 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Maricopa County, you may be able to get a good deal. 57.4% of homes here sold below asking price last month.

Summary: A total of 3,966 homes were sold or pending in Maricopa County in November 2024, down by 10.9% month-over-month. Of the 3,966 sold homes, 57% were sold under asking, 28% were sold at asking, and 15% were sold over asking.

Days on Market for Maricopa County, AZ

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

Average Sale Time

Nov 2023Nov 2024CHANGE
50 Days65 Days+29.1%

Summary: Homes in Maricopa County had an average of 65 days on market in Nov 2024, up by 29.1% compared to last year.

Breakdown of Home Sale Times

1,230 Homes Were Sold
Under 30 Days

1,760 Homes Were Sold
In 30 - 90 Days

976 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in Maricopa County has remained consistent over time.

Summary: During November 2024, 3966 homes were sold in Maricopa County; 31% of homes were sold within 30 days, 44% of homes were sold within 30 to 90 days, and 25% 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 17 Days Ago

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