85044 Condos Market Overview
85044 Condos Market Highlights
As of May 5, 2025, the condos/townhomes/patio homes market in 85044 is showcasing a blend of evolving trends influenced by inventory changes and pricing dynamics.
- Over the past month, the number of active listings has climbed to 42, signaling a rising supply.
- The average sold price remains relatively consistent, currently at $384,233, while the average price per square foot shows modest stability at $275.
- In contrast, the days on market for active listings have increased to 69, indicating a slight slowdown in sales pace.
Curious how the 85044 Condos market has changed over time?
Most Recent 85044 Condos Listings
See More Listings in 85044
Be the First to Know About New and Updated Listings
Get email alerts when new listings hit the market or have price changes.
No spam. Unsubscribe anytime. Your info stays safe—I promise.
85044 Condos Market Report
An In-Depth Look at the 85044 Condos Market
The condos/townhomes/patio homes market in 85044, as of May 5, 2025, reflects notable fluctuations in key metrics that can greatly impact both buyer and seller strategies. Currently, active listings have increased significantly to 42 over the past month, up from only 31 three months ago. This uptick indicates that more properties are becoming available, likely providing buyers with a wider selection and possibly increasing bargaining power. In a similar vein, the months of inventory have expanded to 5.7 months currently, up from 4.4 months three months ago. This shift suggests that homes are staying on the market longer, which could translate into a more balanced market but may also lead to adjustments in pricing strategies by sellers.
In terms of pricing, the average sold price has demonstrated some resilience, averaging $384,233 over the last month, which contrasts slightly with a more subdued average sold price of $368,633 from three months ago. This change reflects buyer willingness to meet market prices, despite recent increases in inventory and days on the market. Furthermore, the average price per square foot for sold properties currently stands at $275, aligning with the overall trend of stabilization.
Interestingly, the days on market (DOM) for active listings have seen an increase to 69 days, indicating a slowdown compared to 101 days from three months ago. This reduction in DOM correlates with the increase in active listings, suggesting buyers may be taking their time to make decisions with more products available. As sellers navigate this evolving landscape, it may be wise to consider pricing strategies that reflect current market conditions, including potentially listing properties slightly below market value to attract offers faster.
To summarize, as the market dynamics shift, both buyers and sellers are advised to stay informed and adaptable. Buyers may find opportunities for negotiation due to increased inventory, while sellers should keep a close eye on pricing trends to ensure their homes remain competitive in a market that may be tipping towards balance but remains dynamic.
Brian Adamski, Realtor
Phoenix Resident Since 2003 | Focused on What Matters Most — You
480-405-1265
