85048 Condos Market Overview
85048 Condos Market Highlights
As of May 6, 2025, the condos, townhomes, and patio homes market in 85048 has shown significant shifts in various key metrics.
- Over the past month, the average sold price for properties has increased, now sitting at $353,380, marking a notable rise compared to the $329,000 average sold price from three months ago.
- Average days on market (DOM) have improved, currently at 72 days, down from 96 days six months ago, which reflects a faster-moving market.
- Additionally, the inventory of active listings has increased to 31, compared to 19 three months ago, indicating more options for buyers in this market.
- However, months of inventory currently at 8.5 suggest a softer market, as this indicates it would take over eight months to sell all active listings at the current pace.
Curious how the 85048 Condos market has changed over time?
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85048 Condos Market Report
An In-Depth Look at the 85048 Condos Market
The Metro Phoenix Area's condo market in 85048, as of May 6, 2025, reveals a multi-faceted picture of activity across various metrics that cater to both casual and serious buyers alike. An impressive uptick in the average sold price, now at $353,380, reflects a 7.5% increase from the $329,000 average three months ago, signaling buoyant buyer interest in this segment. Furthermore, this contrast comes off the back of a relatively flat market where prices had shown little variability.
The current average DOM of 72 days paints a picture of improved sale conditions compared to the 96 days measured six months prior, indicating a decline in the length of time properties are remaining on the market. This drop in DOM fosters a competitive atmosphere for prospective buyers, who may find themselves navigating a faster-paced sales process.
Interestingly, despite rising average sold prices, the number of active listings has expanded to 31 over the past month, compared to 19 three months ago, which provides a broader array of options for buyers. Notably, however, this should be accompanied by a watchful eye on the months of inventory, which currently rests at 8.5 months. This figure suggests a less aggressive competitive landscape than might normally be expected during periods of rising home prices, as a balanced market phase emerges.
By analyzing prices per square foot, we see active listings average $309 per square foot, while pending properties are around $321 per square foot. This variance suggests that as listings move under contract, they are fetching higher prices than those currently available on the market. For those looking at the market, the increase in active listings reflects a natural balance between supply and demand, so it may well serve as a strategic moment for both buyers and sellers. Sellers are encouraged to consider these metrics when pricing their properties and to stay agile in response to the evolving landscape. Meanwhile, buyers may find value in the expanding inventory, allowing them greater leverage in negotiations within this comparatively soft market context.
Brian Adamski, Realtor
Helping Families Call 85048 Home | Here to Help — Not Just to Sell
480-405-1265
