Is Hereford, AZ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Hereford was a Seller's Market.
Key Takeaway
Hereford is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Hereford, AZ
How much do homes in Hereford, AZ cost?
Median Sold Price
$415,000
$199/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Hereford have sold for 10% more than they did a year ago.
Summary: The median home sold price in Hereford was $415,000 in May 2024, up 10% from last year, and the median price per square foot was $199.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $175K | $267.5K | +52.9% |
| 2 Bedrooms | $143K | $349K | +144.1% |
| 3 Bedrooms | $375K | $372K | -0.8% |
| 4 Bedrooms | $452K | $487.5K | +7.8% |
| 5+ Bedrooms | $666.6K | $315K | -52.7% |
Summary: Hereford housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 52.9%, 2 bedroom homes increased by 144.1%, 3 bedroom homes decreased by 0.8%, 4 bedroom homes increased by 7.8%, and 5+ bedroom homes decreased by 52.7%.
Median Sold Price Compared To Nearby Cities
| Hereford | $377.2K | $415K | +10.0% |
| Sierra Vista | $280K | $285.6K | +2.0% |
Housing Supply in Hereford, AZ
How many homes are available in Hereford, AZ?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 56 | 67 | +19.6% |
Summary: The Hereford real estate market had 67 homes for sale in May 2024, a 19.6% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 1 | -66.7% |
| 2 Bedrooms | 0 | 2 | +100.0% |
| 3 Bedrooms | 30 | 34 | +13.3% |
| 4 Bedrooms | 19 | 25 | +31.6% |
| 5+ Bedrooms | 4 | 5 | +25.0% |
Summary: The Hereford housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 66.7%, 2 bedroom homes increased by 100%, 3 bedroom homes increased by 13.3%, 4 bedroom homes increased by 31.6%, and 5+ bedroom homes increased by 25%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 4 | 10 | +150.0% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Hereford, you may be able to get a good deal. 70% of homes here sold below asking price last month.
Summary: A total of 10 homes were sold or pending in Hereford in May 2024, up by 150.0% month-over-month. Of the 10 sold homes, 70% were sold under asking, 30% were sold at asking, and 0% were sold over asking.
Days on Market for Hereford, AZ
How long does it take to sell a home in Hereford, AZ?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 80 Days | 69 Days | -12.9% |
Summary: Homes in Hereford had an average of 69 days on market in May 2024, down by 12.9% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in Hereford are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During May 2024, 10 homes were sold in Hereford; 40% of homes were sold within 30 days, 10% of homes were sold within 30 to 90 days, and 50% of homes were sold over 90 days.
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© 2024 Arizona Regional Multiple Listing Service, Inc. All Rights Reserved.
The data relating to real estate listings on this website comes in part from the Internet Data Exchange (IDX) program of Multiple Listing Service of Southern Arizona. 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. Listings provided by brokerages other than this broker are identified with the MLSSAZ IDX Logo. All Information Is Deemed Reliable But Is Not Guaranteed Accurate. Listing information Copyright 2024 MLS of Southern Arizona. All Rights Reserved.