85048 Housing Market Report January 2025•Maricopa County, Arizona

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Housing Prices in 85048, AZ

How much do homes in 85048, AZ cost?

Housing Market Conditions

Is 85048, AZ a buyer’s or seller’s market?

Housing Market Conditions

This is the supply and demand for houses in an area based on home prices and trends.

Buyer’s Market

A buyer’s market occurs when the number of available properties for sale exceeds the number of buyers looking to purchase. In a buyer’s market, the supply exceeds the demand.

Neutral Market

A neutral market occurs when the number of buyers looking to purchase properties meets the number of available properties for sale. In a balanced market, there are enough homes to meet the demand.

Seller’s Market

A seller’s market occurs when there are more buyers looking to purchase properties than there are available homes on the market. In a seller’s market, the demand exceeds the supply.

Seller'sMarket

Buyer'sMarket

85048 is a Buyer's Market

Difference Since January 2024

At the same time last year, 85048 was a Seller's Market.

Insight

85048 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Median Sold Price

Median Sold Price
This is the middle price for which all homes in the area were sold. Half of all the homes sold were below this price, and half were above.
$605,200$295/SqFt
+$35,866
+6.3%

Based on all homes sold in the last 12 months

Insight

Homes in 85048 have sold for 6.3% more than they did a year ago.

Summary: The median home sold price in 85048 was $605,200 in January 2025, up 6.3% from last year, and the median price per square foot was $295.

Median Sold Price By City

Median Sold Price By City
This is the middle price for which all homes in the area were sold compared to surrounding cities. Half of all the homes sold were below this price, and half were above.
CityChange YoY
85045
+8.9%
85048
+6.3%
85044
+4.6%
85042
+3.6%
85226
+1.9%

Median Sold Price By Bedrooms

Median Sold Price By Bedrooms
This is the middle price for all homes actively listed in an area broken out by the number of bedrooms. Half of the homes are listed below this price, and half are above.
BedsJan 2024Jan 2025Change YoY
1$250K$240K
-4.0%
2$309K$318K
+2.9%
3$510K$519.5K
+1.9%
4$650K$750K
+15.4%
5$779K$823.7K
+5.7%

Summary: 85048 housing price by bedroom type for January 2025, compared to the previous year. The home price for 1 bedroom homes decreased by -4.0%. The home price for 2 bedroom homes increased by +2.9%. The home price for 3 bedroom homes increased by +1.9%. The home price for 4 bedroom homes increased by +15.4%. The home price for 5 bedroom homes increased by +5.7%.

Housing supply in 85048, AZ

How many homes are available in 85048, AZ?

Number of Homes For Sale

Number of Homes For Sale
This is the total number of homes actively listed in an area.
Last Month2 months agoChange MoM
135Last MonthJan 2025
1142 months agoDec 2024
+18.4 %
Change MoMDec – Jan

Summary: The 85048 real estate market had 135 homes for sale in Jan 2025, a 18.4 % increase compared to Dec 2024.

Number of Homes Sold

Number of Homes Sold
This is the total number of both homes sold and pending in an area.
Last Month2 months agoChange MoM
19Last MonthJan 2025
262 months agoDec 2024
-26.9 %
Change MoMDec – Jan

Homes For Sale By Bedroom Count

Homes For Sale By Bedroom Count
This is the total number of homes actively listed in an area by number of bedrooms.
BedsDec 2024Jan 2025Change MoM
156
+20.0%
2811
+37.5%
33945
+15.4%
44753
+12.8%
51520
+33.3%

Summary: 85048 housing inventory by bedroom type for January 2025, compared to the previous month. The inventory for 1 bedroom homes increased by +20.0%. The inventory for 2 bedroom homes increased by +37.5%. The inventory for 3 bedroom homes increased by +15.4%. The inventory for 4 bedroom homes increased by +12.8%. The inventory for 5 bedroom homes increased by +33.3%.

Asking Price vs. Sold Price

How much do homes in 85048, AZ cost?

Asking Price vs. Sold Price

The asking price is how much a home is listed for. The selling price is how much the home actually sold for.

Under Asking

Homes that sold for less than the asking price

At Asking

Homes that sold at their asking price

Over Asking

Homes that sold above the asking price

Over Asking Price1 Home

At Asking Price4 Homes

Under Asking Price14 Homes

Insight

If you're buying a home in 85048, you may be able to get a good deal. 73.7% of homes here sold below asking price last month.

Summary: A total of 19 homes were sold or pending in 85048 in January 2025, down by 26.9% month-over-month. Of the 19 sold homes, 74% were sold under asking, 21% were sold at asking, and and 5% were sold over asking.

Days on Market for 85048, AZ

How long does it take to sell a home in 85048, AZ?

Breakdown of Home Sale Times

Under 30 Days5 Homes

30 – 90 Days6 Homes

Over 90 Days8 Homes

Insight

Most homes in 85048 are taking a long time to sell, it's a good idea to negotiate on homes here.

Summary: During January 2025, 19 homes were sold in 85048; 26% of homes were sold within 30 days, 32% of homes were sold within 30 to 90 days, and 42% of homes were sold over 90 days.

Average Sale Time

Average Sale Time
This is the average number of days homes take to sell in an area.
This Year1 year agoChange YoY
74 DaysThis YearJan 2025
57 Days1 year agoJan 2024
+30.9 %
Change YoYJan 2024 – Jan 2025

Summary: Homes in 85048 had an average listing age of 74 days in Jan 2025, up by 30.9% compared to the previous year.

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Newest Listings in 85048, AZ

What homes are available in 85048, AZ?

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Nearby markets

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MLS Disclaimers and Copyright

Based on information from Arizona Regional MLS, for the period 02/01/2023 - 02/01/2025

IDX The data relating to real estate for sale on this site comes from the Broker Reciprocity/IDX of Arizona Regional Multiple Listing Service, Inc. Indicates a property listed by a real estate brokerage other than Rocket Homes Real Estate, LLC. All information should be verified by the recipient and none is guaranteed as accurate by ARMLS. No warranties, expressed or implied, are provided for the data herein, or for their use or interpretation by the user. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Arizona Regional Multiple Listing Service, Inc. do not create, control or review the property data displayed herein and take no responsibility for the content of such records. Federal law prohibits discrimination on the basis of race, color, religion, sex, handicap, familial status or national origin in the sale, rental or financing of housing. Information deemed reliable but not guaranteed. Copyright© 2025 Arizona Regional Multiple Listing Service, Inc. All Rights Reserved.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 2/5/2025, 11:55:54 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.