Florence, AZ

The Florence, AZ (85132) housing market is currently stabilizing, characterized by mixed signals in pricing and inventory. While the median listing price shows a slight decline both month-over-month and year-over-year, active listings have increased, suggesting a more balanced market.

The median listing price in 85132 has experienced a subtle softening, decreasing by 2.1% MoM to $350,000 and 1.4% YoY. Despite this, active listings have risen by 3.5% YoY to 239 units, indicating an increasing supply. New listings, however, have contracted significantly by 18.2% YoY, suggesting a slower influx of fresh inventory. Median days on market have extended by 17.2% YoY to 68 days, pointing to a slower absorption rate. The price-reduced share has seen a modest decrease of 5.6% YoY, now at 24.4%. The pending ratio stands at 0.49, a 2.5% YoY decline, reflecting a slight moderation in demand relative to supply. Median price per square foot has also declined by 4.8% YoY to $196.

The current dynamics suggest a market where inventory pressure is easing due to increased active listings and a slower pace of sales, as indicated by extended days on market and a lower pending ratio. While new listings are down, the rise in active listings allows for more selection. The slight decline in median listing price and median price per square foot indicates that price discipline is becoming more important for sellers.

The average listing price of $363,257 exceeds the median listing price of $350,000, creating a spread of $13,257. This suggests the presence of higher-priced properties influencing the average. The median price per square foot is $196, providing a benchmark for valuation within the mid-segment of the market.