Is Payson, 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, Payson was a Seller's Market.
Housing Prices in Payson, AZ
How much do homes in Payson, AZ cost?
Median Sold Price
$469,000
$291/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Payson was $469,000 in May 2024, up 2% from last year, and the median price per square foot was $291.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $280K | $298K | +6.4% |
2 Bedrooms | $341.2K | $349.5K | +2.4% |
3 Bedrooms | $474.5K | $475K | 0.1% |
4 Bedrooms | $675.9K | $690K | +2.1% |
5+ Bedrooms | $912.7K | $827.5K | -9.3% |
Summary: Payson housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 6.4%, 2 bedroom homes increased by 2.4%, 3 bedroom homes increased by 0.1%, 4 bedroom homes increased by 2.1%, and 5+ bedroom homes decreased by 9.3%.
Housing Supply in Payson, AZ
How many homes are available in Payson, AZ?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
180 | 206 | +14.4% |
Summary: The Payson real estate market had 206 homes for sale in May 2024, a 14.4% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 7 | 4 | -42.9% |
2 Bedrooms | 34 | 41 | +20.6% |
3 Bedrooms | 85 | 101 | +18.8% |
4 Bedrooms | 47 | 50 | +6.4% |
5+ Bedrooms | 7 | 10 | +42.9% |
Summary: The Payson housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 42.9%, 2 bedroom homes increased by 20.6%, 3 bedroom homes increased by 18.8%, 4 bedroom homes increased by 6.4%, and 5+ bedroom homes increased by 42.9%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
29 | 28 | -3.4% |
Asking Price vs. Sold Price
21 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Summary: A total of 28 homes were sold or pending in Payson in May 2024, down by 3.4% month-over-month. Of the 28 sold homes, 75% were sold under asking, 11% were sold at asking, and 14% were sold over asking.
Days on Market for Payson, AZ
How long does it take to sell a home in Payson, AZ?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
60 Days | 67 Days | +12.4% |
Summary: Homes in Payson had an average of 67 days on market in May 2024, up by 12.4% compared to last year.
Breakdown of Home Sale Times
11 Homes Were Sold
Under 30 Days
10 Homes Were Sold
In 30 - 90 Days
7 Homes Were Sold
Over 90 Days
Summary: During May 2024, 28 homes were sold in Payson; 39% of homes were sold within 30 days, 36% of homes were sold within 30 to 90 days, and 25% of homes were sold over 90 days.