🏡 Sales Market
Active Listings: 930 (-0.5% YoY)
→ Inventory is essentially flat year-over-year, indicating a relatively balanced level of supply
Median Sold $/SF: $231.06 (+0.9% YoY)
→ Prices increased slightly, marking the first year-over-year gain in several months
Average Days on Market: 55 (-3.5% YoY)
→ Homes are selling faster than last year, showing improving buyer activity
30-Year Mortgage Rate: 6.44%
→ Rates increased this month, which could impact affordability and demand moving into spring
🏘️ Rental Market
Active Listings: 64 (-34.7% YoY)
→ Rental inventory has dropped significantly, tightening supply across the market
Median Rented $/SF: $1.12 (+1.4% YoY)
→ Rents have increased slightly year-over-year, signaling strengthening rental demand
Median Days on Market: 28 (+5.6% YoY)
→ Rentals are still leasing quickly, though slightly slower compared to last year
📉 Key Takeaways
- Sales inventory remains stable, providing consistent options for buyers
- Home prices have turned positive year-over-year after months of decline
- Homes are selling faster, indicating improving market conditions
- Rental supply has tightened significantly, increasing competition
- Rising mortgage rates may influence buyer activity in the coming months
👉 Overall:
San Tan Valley’s market is showing encouraging signs of improvement. The sales market is gaining momentum with rising prices and faster selling times, while inventory remains steady. On the rental side, tightening supply and rising rents point to increased demand. As mortgage rates rise, affordability will remain a key factor shaping the pace of the market through the spring season.