Maricopa Residential Market Update November 26, 2016: Well first of all I want to take this moment and wish all of you a Happy Thanksgiving weekend. I hope you enjoyed time with friends and family and had some well deserved time off. I also want to take a moment and thank all of our clients with The Maricopa Real Estate Company. Our mission everyday is to help our clients advance their economic interests through real estate investments and often times a personal friendship is a result of that process and of course that is always the best outcome so to all of you – thank you.
The Maricopa residential market has been remarkably consistent over the last 5 months with less than 10% deviance in most market measures. Once again, 305 subdivision homes are currently available on the MLS listed at an average of $98.99 per square foot.
Once again 322 subdivision homes are listed on the MLS in Maricopa, a number of which that has been remarkably consistent over the last 120 days, and those homes are listed at an average of $96.47 per square foot. 194 homes are currently under contract and sales remain steady as 56 homes sold over the last 14 days, selling at an average of $88.18 per square foot and bringing our YTD numbers now to 1,446 subdivision homes sold at an average of $86.93 per square foot. By comparison through the same time period last year 1,316 homes had sold at an average of $77.93 per square foot so the residential market in Maricopa is currently tracking up 10% in terms of sales and 11.5% up in terms of the average sold price per square foot.
So let’s take a brief look at how October performed and then a quick look at the sales trends over the 6 months. Sales of SFD homes in October were up over 11% from last October with 139 SFD homes selling versus 125 in October 2015. Amazingly in October the average price of a SFD home rose over 15% to $190.160 from last October’s average of $164,878,