No Comments

Maricopa Market Update June 18, 2016

The number of available subdivision homes for sale in Maricopa remains unchanged with 378 homes listed on the MLS at an average of $94.06 per square foot. 259 homes are currently under contract, down from 271 the week prior, and it was a strong week in sales as 39 homes closed escrow, selling at an average of $83.08 per square foot and bringing our YTD numbers now to 728 homes sold at an average of $85.98 per square foot. By comparison through the same time period last year, 692 homes had sold at an average of $77.58 per square foot, so the residential market in Maricopa is starting to put some distance between 2015 and is now tracking at a 5.2% increase in terms of sales and a 10.8% increase in the average sold price per square foot. One item to note is that this is the first time this year that the YTD average sold price per square foot fell below the $86 mark and my suspicion is that that measure will continue to drop slightly over the next few months. Also, there are approximately 50 new build homes actively listed on the MLS, meaning that there are just 328 traditional resale homes listed in Maricopa in a market that is currently averaging about 130 sales per month, translating to just about a 75 day worth of supply of homes based on current demand and with the Pathway to Purchase program generating more and more demand, Maricopa could possibly have a shortage of homes soon.

This week, the spotlight is on The Villages at Rancho El Dorado and below is a look at the availability of single story and two story homes with and without pools, and then the new build homes.
Read more

No Comments

Maricopa Market Update June 11, 2016

The number of available subdivision homes drops over the last 7 days now down to 379 homes listed on the MLS at an average of $94.29 per square foot. 271 homes are currently under contract, up from 261 the week prior and it was another average week in sales as 27 homes closed escrow, selling at an average of $82.34 per square foot and bringing our YTD numbers now to 688 homes sold at an average of $86.03 per square foot. By comparison through the same time period last year, 660 homes had sold at an average of $77.55 per square foot so the Maricopa residential market is now tracking up 4.2% in terms of sales and 10.9% in the average sold price per square foot. Also, the average sold price for a single family home in Maricopa for May 2016 was $172,744, up 4% over May 2015’s average of $166,058.

So I thought throughout the summer I would highlight a “subdivision of the week” and detail the current availability and the 90 day sell through in that subdivision to try and get a more accurate reading of the sub markets within the broader market.
Read more

No Comments

Maricopa Market Update June 4, 2016

The number of available subdivision homes dips once again over the last 7 days with 394 homes currently listed on the MLS at an average of $95.05 per square foot. 261 homes are currently under contract, and it was an average week in sales as 29 homes closed escrow over the last week, selling at an average of $87.01 per square foot and bringing our YTD numbers now to 647 subdivision homes sold at an average of $86.28 per square foot. By comparison, through the same time period last year, 628 homes had sold at an average of $77.65 per square foot, so the residential market in Maricopa is tracking up 3% in sales and 11.1% in the average sold price per square foot.

As mentioned last week, residential homes sales in May outpaced May 2015 sales, and were sufficient enough to finally realize YTD gains after four months of flat sales.
Read more