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Featured local agent — Mormon Lake, AZ
Sarah Mitchell
Compass Real Estate · Mormon Lake, AZ
“Your trusted relocation specialist since 2009. 350+ homes sold. Zero-pressure, data-first approach.”
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Mormon Lake, AZ Housing Market
The typical home in Mormon Lake, AZ is worth $401,424, fell 0.7% over the past year (Zillow Home Value Index, July 2026). The last median sale price Redfin published was $310,000, +56.6% year over year (through May 2026). With 5.0 months of supply and homes going under contract in about 377 days, Mormon Lake is a buyer's market. At today's 6.66% 30-year fixed rate, 20% down on a $401,424 home is about $2,064/mo in principal and interest.
Key numbers for Mormon Lake, AZ
Typical home value
$401,424
-0.7% in 12 months
Zillow, July 2026
Median sale price
$310,000
+56.6% year over year
Redfin, through May 2026
Days on market
377
Slow-moving
Redfin, through May 2026
Active listings
5
5.0 months of supply
Redfin, through May 2026
30-yr fixed rate
6.66%
Freddie Mac weekly average
Freddie Mac via FRED, August 2026
Sale-to-list ratio
95.4%
Selling below asking
Redfin, through May 2026
Zillow figures are as of July 2026 and refresh monthly. Redfin figures are through May 2026 — Redfin stopped publishing its public market trackers in June 2026, so those numbers are final, not current. Mortgage rates come from Freddie Mac via FRED and update weekly.
Is Mormon Lake a buyer's or seller's market?
Mormon Lake, AZ is a buyer's market, based on 5.0 months of supply and homes selling in about 377 days. 4 to 5 months of supply is the neutral band: neither side holds a structural advantage, and outcomes turn on the individual property.
Inputs are Redfin's final published period (May 2026). How we classify markets · Where the data comes from
What does the Mormon Lake housing market data show?
Every row below is Redfin's final published month for Mormon Lake, AZ. Redfin, through May 2026
| Metric | Value |
|---|---|
| Median sale price | $310,000 |
| Year-over-year price change | +56.6% |
| Median price per sq ft | $359/sq ft |
| Median days on market | 377 days |
| Active inventory | 5 listings |
| Months of supply | 5.0 months |
| Sale-to-list price ratio | 95.4% |
| Homes sold (that month) | 1 |
| Listings with a price cut | 20.0% |
| Market condition | Buyer's market |
How to read these numbers
- Median sale price
- Half the homes that closed sold for more than this, half for less. It moves with what kind of home sold that month, so a quiet month with two big sales can swing it. Redfin's figure for Mormon Lake is frozen at May 2026.
- Typical home value (ZHVI)
- Zillow's estimate of what a mid-market home in Mormon Lake is worth right now, whether or not it sold. It is smoother than the median sale price and it still refreshes monthly, which is why this page leads with it.
- Months of supply
- How long it would take to sell every active listing at the current pace. Under 3 favors sellers, over 6 favors buyers, and 3 to 6 is the balanced band.
- Days on market
- Median time from listing to accepted offer. Short means you should have financing ready before you tour; long means there is room to negotiate on price and repairs.
- Sale-to-list ratio
- Sale price divided by the last asking price. Above 100% means bidding above asking is normal here; below 100% means the typical buyer got a discount.
- Price per square foot
- The size-adjusted price. Use it to compare a 1,400 sq ft house to a 2,600 sq ft house, not to value your own home — lot, condition and age move it a lot.
- Listings with a price cut
- Share of active listings that dropped their asking price in the month. A high share is the earliest visible sign that sellers are ahead of what buyers will pay.
- Typical asking rent (ZORI)
- Zillow's repeat-rent index for asking rents on new leases. Paired with the home value it gives the price-to-rent ratio in the rent-vs-buy section below.
How have Mormon Lake home prices moved?
Across the 21 months we hold for Mormon Lake, AZ, the median sale price fell 3.1%, from $320,000 in April 2021 to $310,000. The live Zillow value series has fell 0.7% in the last 12 months, which is the more current read now that Redfin's series has stopped. 20.0% of Mormon Lake listings cut their asking price in the final Redfin month — a modest share, which is what a market looks like when sellers are pricing close to where homes actually clear. For prices to fall meaningfully from here, supply would have to keep building past 5.0 months while the sale-to-list ratio slips below its current 95.4%. Watch those two together — they move before the median does.
Redfin, through May 2026 — the chart ends at Redfin's final published month.
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What does it cost to buy a home in Mormon Lake?
Priced off the typical home value of $401,424 at the current 6.66% 30-year fixed rate. These are principal and interest only — property taxes, homeowner's insurance, HOA dues and mortgage insurance are on top, and they vary enough by property that we will not guess them for you.
| Down payment | Cash at close | Loan amount | Monthly P&I |
|---|---|---|---|
| 20% | $80,285 | $321,139 | $2,064/mo |
| 5% | $20,071 | $381,352 | $2,451/mo |
Zillow, July 2026 for the price · Freddie Mac via FRED, August 2026 for the rate
What income do you need?
Lenders generally want housing costs under 28% of gross income. On the 20%-down payment of $2,064, that implies roughly $88,445 a year before you add taxes and insurance. We do not hold a Census income figure for Mormon Lake, so we cannot compare that threshold to local earnings.
Run it with your own numbers: affordability calculator · mortgage calculator
Buying in Mormon Lake in the next 12 months?
Tell us your timeline. We send the Mormon Lake market brief: the price ranges that actually clear, how long homes sit, and what to fix on your credit before you apply.
Is it cheaper to rent or buy in Mormon Lake?
Zillow does not publish a rent index (ZORI) for Mormon Lake, AZ, so we cannot compute a price-to-rent ratio here without borrowing a nearby market's rents and calling them local — which we will not do. The rent vs. buy calculator works with a rent figure you supply.
Is inventory rising or falling in Mormon Lake?
Active listings in Mormon Lake, AZ went from 1 in November 2022 to 5 in May 2026, a +400.0% change. Rising inventory is the single most useful leading indicator for buyers: more choice, longer marketing times, and more sellers willing to negotiate before price cuts show up in the median.
| Month | Active listings | New listings |
|---|---|---|
| August 2023 | 5 | 3 |
| September 2023 | 4 | not published |
| May 2024 | 2 | 3 |
| June 2024 | 3 | 1 |
| July 2024 | 2 | not published |
| October 2024 | 3 | not published |
| May 2025 | 5 | 1 |
| June 2025 | 4 | 1 |
| July 2025 | 4 | 2 |
| November 2025 | 5 | 1 |
| March 2026 | 6 | 2 |
| May 2026 | 5 | not published |
Redfin, through May 2026
How does Mormon Lake compare to Arizona and the U.S.?
Mormon Lake homes sell for $310,000 — 32% below the Arizona median of $453,800. Against the national median of $410,700, Mormon Lake runs 25% lower. Year-over-year, Mormon Lake moved +56.6% against Arizona's +0.5% — a bigger swing than the state as a whole.
| Market | Median sale price | YoY | Days on market |
|---|---|---|---|
| Mormon Lake, AZ | $310,000 | +56.6% | 377 days |
| Arizona statewide | $453,800 | +0.5% | 62 days |
| United States | $410,700 | not published | not published |
City and state rows: Redfin, through May 2026 · U.S. row: Freddie Mac via FRED, April 2026 (MSPUS, quarterly)
What to do next in Mormon Lake
What buyers should watch
- Months of supply, currently 5.0. It turns before price does — when it climbs past 6, sellers start taking offers they would have rejected a quarter earlier.
- The share of listings cutting price, currently 20.0%. A listing that has already cut once is the one most likely to accept below asking.
- The gap between 5% and 20% down here is $387 a month in principal and interest alone, before mortgage insurance. That gap, not the price, is usually what decides your timeline.
- Rate moves. At 6.66%, every full point of rate change moves the payment on a $401,424 home more than a 5% price change does.
- Your credit tier before you shop, not after — it sets the rate you are quoted. Run your numbers first.
What sellers should know
- The median Mormon Lake listing goes under contract in 377 days. If yours passes that mark, the market is telling you the price is wrong — not that you need more showings.
- Homes here close at 95.4% of asking. Price to that ratio from day one rather than chasing the market down in cuts.
- Your equity moved -0.7% in the last 12 months on the Zillow value series. That, not the price you paid, is what sets your net proceeds.
- Comparable ZIP-level pricing inside Mormon Lake varies more than the citywide median suggests — check the ZIP pages below before you set a number.
Homes for sale in Mormon Lake
There are currently 5 homes listed for sale in Mormon Lake, Arizona.
Active listings
5
Homes on market
Avg. days on market
377
Days until sale
How much do homes cost in Mormon Lake by property type?
How the Mormon Lake, AZ market breaks down across single-family homes, condos and townhouses. Redfin, through May 2026
| Property type | Median price | Price / sq ft | Homes sold | Days on market |
|---|---|---|---|---|
| Single-family | $310,000 | $359/sq ft | 1 | 377 days |
Who lives in Mormon Lake?
American Community Survey estimates for Mormon Lake. U.S. Census ACS, 2023
Population
175
Households
48
Median age
11.8 years
Owner-occupied
100.0%
100.0% of occupied homes in Mormon Lake are owner-occupied, and the rest are rented — which is the share that decides how much of the local housing stock ever reaches the for-sale market.
Which cities are near Mormon Lake, AZ?
Ordered by distance from Mormon Lake, not by size. Compare Mormon Lake side by side with any of them.
Mormon Lake housing market FAQ
Is Mormon Lake a buyer's or seller's market?
Mormon Lake, AZ is currently a buyer's market. That read comes from 5.0 months of supply, homes going under contract in about 377 days, and sellers getting 95.4% of their asking price in the last month Redfin published (May 2026).
How much do homes cost in Mormon Lake?
The typical home in Mormon Lake, AZ is worth $401,424 (Zillow Home Value Index, July 2026). The median sale price in the last month Redfin published was $310,000, about $359 per square foot.
Is Mormon Lake cheaper than the rest of Arizona?
Mormon Lake's median sale price of $310,000 is 32% lower than the Arizona statewide median of $453,800, and 25% below the U.S. median of $410,700. Both figures are for the same period.
How long do homes take to sell in Mormon Lake?
Homes in Mormon Lake, AZ spent a median of 377 days on market before going under contract, versus 62 days statewide. Over two months means buyers have time to inspect, compare and negotiate. (Redfin, through May 2026.)
What income do you need to buy a home in Mormon Lake?
At the current 30-year fixed rate of 6.66%, 20% down on a $401,424 home is about $2,064 a month in principal and interest. Lenders typically want that under 28% of gross income, which works out to roughly $88,445 a year before taxes, insurance, HOA dues or mortgage insurance.
Are home prices rising in Mormon Lake?
The typical home value in Mormon Lake, AZ fell 0.7% over the last 12 months, from $404,429 to $401,424 (Zillow, July 2026). This is the live series — it refreshes monthly.
What are the cheapest ZIP codes in Mormon Lake?
Mormon Lake ZIP-level sale prices are not all published for the same period, so ranking them would compare different months. The ZIP pages listed on this page show what we hold for each one individually.
Is now a good time to buy in Mormon Lake?
That depends on your timeline, not on a headline. What the data says today: Mormon Lake, AZ is a buyer's market with 5.0 months of supply, the 30-year fixed rate is 6.66%. Properties Incorporated publishes the data; it does not give financial advice.
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