85045 Condos Market Overview
85045 Condos Market Highlights
As of May 6, 2025, the condos/townhomes/patio homes market in 85045 shows notable changes as buyer activity shifts.
- Over the past month, active listings have remained stable at 2, while inventory levels have risen, resulting in 2.0 months of inventory.
- The average price per square foot for active listings has climbed to $312, a positive indicator of pricing strength.
- However, the current average DOM is at 60 days, reflecting a slight slowing in the pace of sales.
Curious how the 85045 Condos market has changed over time?
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85045 Condos Market Report
An In-Depth Look at the 85045 Condos Market
The real estate landscape for condos/townhomes/patio homes in 85045, as of May 6, 2025, highlights an evolving market dynamic. Currently, the number of active listings stands at 2, consistent with data from three months ago, illustrating stability in availability. However, a noteworthy shift is apparent with the months of inventory increasing to 2.0, suggesting that homes are taking a bit longer to move off the market than they did three months ago, when inventory was negligible.
Sales have slowed down, as evidenced by an average DOM of 60 days, which has increased significantly from 95 days just three months ago. This trend indicates a changing pace in buyer engagement, perhaps reflecting broader economic factors such as rising interest rates or economic uncertainty, leading potential buyers to adopt a more cautious approach.
The average price for active listings has maintained a healthy level at $470,000, and it has shown improvement in the price per square foot, now at $312, demonstrating resilience in pricing despite the slower sales dynamics. Comparing the historical data, we see that six months back, the average price per square foot was $295, and active listings were recorded at incomparably lower levels, with only 1 property available. This upward trajectory in average price metrics may suggest sustained buyer investment interest, likely fueled by the overall desirability of the 85045 area.
Looking to the future, sellers might consider strategic pricing and marketing to navigate the current market as buyers respond to these evolving conditions. Understanding the impact of increased DOM on buyer psychology may aid in decision-making and adjust marketing approaches accordingly. For buyers, the increase in months of inventory indicates a potential for negotiation and leveraging to secure favorable terms.
Brian Adamski, Realtor
Trusted Name in 85045 | Market-Smart and Results-Driven
480-405-1265
