$5,819 Closing Credit*
$490,000
1,881 SqFt
4 Beds
•2 Baths
Gabriel A Mada, Listing Office: Real Broker
Is Palo Verde, AZ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
At the same time last year, Palo Verde was a Seller's Market.
Key Takeaway
Palo Verde is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Palo Verde, AZ
How much do homes in Palo Verde, AZ cost?
Median Sold Price
$450,000
$250/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$30,000(+7.1%)
Key Takeaway
Homes in Palo Verde have sold for 7.1% more than they did a year ago.
Summary: The median home sold price in Palo Verde was $450,000 in November 2024, up 7.1% from last year, and the median price per square foot was $250.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $207.5K | $190.5K | -8.2% |
| 2 Bedrooms | $290K | $285K | -1.7% |
| 3 Bedrooms | $395K | $398K | +0.8% |
| 4 Bedrooms | $472.5K | $520K | +10.1% |
| 5+ Bedrooms | $625.5K | $632.4K | +1.1% |
Summary: Palo Verde housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 8.2%, 2 bedroom homes decreased by 1.7%, 3 bedroom homes increased by 0.8%, 4 bedroom homes increased by 10.1%, and 5+ bedroom homes increased by 1.1%.
Housing Supply in Palo Verde, AZ
How many homes are available in Palo Verde, AZ?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 102 | 91 | -10.8% |
Summary: The Palo Verde real estate market had 91 homes for sale in November 2024, a 10.8% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 0 | -100.0% |
| 2 Bedrooms | 6 | 6 | 0.0% |
| 3 Bedrooms | 42 | 38 | -9.5% |
| 4 Bedrooms | 37 | 29 | -21.6% |
| 5+ Bedrooms | 16 | 18 | +12.5% |
Summary: The Palo Verde housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes remained the same, 3 bedroom homes decreased by 9.5%, 4 bedroom homes decreased by 21.6%, and 5+ bedroom homes increased by 12.5%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 30 | 14 | -53.3% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Palo Verde, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 14 homes were sold or pending in Palo Verde in November 2024, down by 53.3% month-over-month. Of the 14 sold homes, 50% were sold under asking, 50% were sold at asking, and 0% were sold over asking.
Days on Market for Palo Verde, AZ
How long does it take to sell a home in Palo Verde, AZ?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 29 Days | 60 Days | +106.4% |
Summary: Homes in Palo Verde had an average of 60 days on market in Nov 2024, up by 106.4% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Palo Verde has remained consistent over time.
Summary: During November 2024, 14 homes were sold in Palo Verde; 21% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 29% of homes were sold over 90 days.
The data relating to real estate for sale on this site comes from the Broker Reciprocity/IDX of Arizona Regional Multiple Listing Service, Inc. Indicates a property listed by a real estate brokerage other than Rocket Homes Real Estate, LLC. All information should be verified by the recipient and none is guaranteed as accurate by ARMLS. No warranties, expressed or implied, are provided for the data herein, or for their use or interpretation by the user. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Arizona Regional Multiple Listing Service, Inc. do not create, control or review the property data displayed herein and take no responsibility for the content of such records. Federal law prohibits discrimination on the basis of race, color, religion, sex, handicap, familial status or national origin in the sale, rental or financing of housing. Information deemed reliable but not guaranteed. Copyright© 2024 Arizona Regional Multiple Listing Service, Inc. All Rights Reserved.