85045 Land

An In-Depth Look at the 85045 Land Market

The land market in 85045, as of May 6, 2025, reveals a landscape of shifting dynamics influenced by both inventory changes and pricing trends.

• Inventory Trends: Currently, there are 10 active listings, up from 8 just three months ago, indicating a growing selection for potential buyers. This increase may stem from homeowners attempting to capitalize on favorable selling conditions, despite extended DOM figures.
• Pricing Movement: The average price for active listings is now $427,490, compared to $419,488 three months ago. However, this reflects a significant decrease in the average price from $473,667 six months ago, emphasizing a previous higher market temperature that has since cooled.
• Days on Market (DOM): The DOM remains lengthy at 167 days, although this is slightly better than the 198 days seen three months ago, indicating a minor shift towards improved selling speeds. This higher DOM can suggest buyers' hesitance, perhaps impacted by broader economic factors such as interest rates or market sentiment.
• Contextual Considerations: The market's current state may be affected by a balance of supply and demand influenced by local economic factors, possibly resulting in cautious pricing strategies. Notably, months of inventory has been recorded at 0.0, which is unusual and indicates a shift in market dynamics where homes are being sold or pulled from the market without generating enough active listings to sustain a typical turnover rate.
• Actionable Insights for Buyers and Sellers: For buyers, understanding that there's more competition available could make it wise to act with informed offers, especially considering the slight uptick in available inventory. Sellers might consider adjusting listing prices to meet market expectations as buyers continue to exhibit selective purchasing behaviors, given the length of time properties are remaining on the market.

In conclusion, the 85045 land market reflects a nuanced interplay of rising inventory, fluctuating prices, and elongated sales timelines, embodying the complexities that characterize this area at present.