Maricopa, AZ

The market in ZIP 85138 is currently classified as Cooling, indicating a broader environment where listings are lingering and price adjustments are becoming more frequent. The median listing price has seen a modest monthly decline and a more significant annual decrease, suggesting a shift in pricing dynamics.

The median listing price in ZIP 85138 stands at $364,450, reflecting a slight month-over-month decrease of 0.1% and a more notable year-over-year decline of 2.7%. Active listings have grown by 3.6% year-over-year to 433 units, while new listings have subtly decreased by 2.9% annually, totaling 136. Properties are spending less time on the market, with median days on market at 58, a 3.3% reduction year-over-year. However, the share of price-reduced listings is 29.0%, a negligible 0.1% increase year-over-year. The pending ratio is at 0.36, a significant 18.3% decrease from the previous year, with 156 pending listings.

For those looking to list properties, the decreased pending ratio and increase in active listings suggest a need for considered price discipline to attract interest. The market pace has slowed, as evidenced by the year-over-year decline in the pending ratio, which may present less urgency for immediate offers. Buyers may find themselves with more inventory to consider and potentially greater negotiating leverage as the market experiences a cooling trend.

The average listing price of $383,492 is 5.2% higher than the median listing price of $364,450, indicating a segment of properties listed at higher values. The median price per square foot is $185, with a year-over-year decrease of 3.3%.