Homes for Sale in 85048

An In-Depth Look at 85048 Condos

As we delve deeper into the condo/townhome market in 85048 from an analytical perspective, a broader view of the current metrics underscores the evolving landscape.

Active Listings: The number of active listings has grown significantly, now totaling 27, an increase of 68.75% from three months ago when the count was only 16. This increase in inventory is significant as it marks a shift in the dynamics of supply and demand in the region. It might indicate that sellers are becoming more willing to list their properties, perhaps in anticipation of favorable selling conditions or as a response to rising competition.

Months of Inventory: At 13.5 months, the market currently reflects a considerable supply relative to demand. For comparison, this is a marked rise from just 3.4 months three months ago, illuminating a dramatic shift toward a buyer's market. Investors and potential buyers will find greater choices and leverage, which may lead to negotiating power on offers.

Sold Prices: The average sold price has seen a decline to $255,000 over the last month, down significantly from $305,500 in the preceding three-month period. This decrease may suggest that sellers are adjusting their pricing strategies to attract offers in a warmer inventory climate, aligning their expectations with buyers' willingness to pay.

Days on Market (DOM): Sales activity has seen the average DOM expand to 77 days, highlighting that properties are lingering on the market longer than in the past. Notably, this is a change from 99 days three months ago, indicating a trend of buyer hesitation or more extensive vetting before purchasing decisions.

In summary, the 85048 condo/townhome market is moving toward a more balanced and buyer-favorable environment, marked by a notable expansion in inventory levels, a substantial decline in average sold prices, and an increased duration in the Days on Market. This landscape indicates potential opportunities for buyers to negotiate offers more to their advantage as they take advantage of the broader range of choices available.

An In-Depth Look at 85048 Land

The current land market in 85048, as of March 16, 2025, presents a unique landscape characterized by a remarkable lack of supply relative to demand, as evident in several key metrics.

• Active Listings & Market Absorption: The total number of active listings remained consistently low at 10 over the past month, down from 11 three months ago. This slight decrease signifies a tightening market, evidenced by the months of inventory metric, which currently stands at 0.0. This is a sharp contrast to the more balanced market seen six months ago, where the market contained 7 active listings and had a months of inventory reading at 7.0. The rapid absorption rate suggests that properties are being purchased almost as soon as they are listed.

• Price Trends: The average price of active listings has risen to $538,500, a significant increase from $497,091 three months ago and $446,928 six months ago. This price appreciation correlates with the decreased availability of land, making it increasingly valuable. Moreover, it illustrates buyer willingness to invest at higher price points under the current supply constraints.

• Days on Market (DOM): The average DOM for properties currently remains relatively high at 260 days, a figure used for pricing strategy by sellers. High DOM might also hint at a discerning buyer base that is increasingly selective in their purchasing decisions.

• Comparative Context: When compared to historical performance, these price levels are markedly higher than just a year ago when the average price per square foot was reported at just $6. Despite the significant increase in average prices for active listings, average sold prices remained stagnant at 0 for sold listings recently, indicating a potential gap between buyer expectations and seller pricing.

• Market Outlook: As the market continues to show low inventory, it likely favors sellers who can hold out for top dollar offers. In light of these dynamics, buyers may find value in entering the market sooner rather than later, given the trend of rising prices could foreseeably accelerate as demand persists under low supply conditions.

This snapshot of the 85048 land market reveals an intriguing scenario where the balance of supply and demand is distinctly skewed towards sellers, shaping both pricing strategies and overall market activity.