Casa Grande, AZ

The 85193 market is currently Cooling. While the median listing price shows a notable year-over-year increase, recent trends suggest a deceleration in market velocity. The significant year-over-year decline in the pending ratio, coupled with an increase in active listings, indicates a shift in market dynamics.

The median listing price, at $714,900, has appreciated by 22.2% over the past year, despite a month-over-month decrease of 3.2%. However, the pending ratio has sharply declined by 54.2% year-over-year, reaching 0.33. Active listings have expanded by 50.0% year-over-year, now totaling 12 units. Median days on market have extended by 30.8% over the past year to 87 days, while the share of price reductions has increased by 25.0% year-over-year to 25.0%. The median price per square foot has decreased by 4.5% year-over-year, currently at $286.

The reduced pending ratio and expanding active listing inventory suggest that buyers may find more opportunities for due diligence and negotiation. Increased days on market and the higher share of price-reduced properties indicate that sellers may need to exercise greater price discipline to achieve transactions.

The average listing price of $820,075 significantly exceeds the median listing price of $714,900, reflecting the presence of premium properties. This segment, however, has experienced a 4.7% year-over-year decrease in average listing price. The median price per square foot of $286 indicates a specific price point for properties within this ZIP code, with luxury properties likely commanding higher figures.