Maricopa real estate market remains hot until the end of July

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Maricopa antenna
Photo by Kyle Norby (Flight courtesy of Desert Rat Aviation)

Maricopa’s real estate inventory continues to drive buyers crazy and sellers smile.

The number of homes for sale in the city is still one of the lowest since I started tracking monthly sales in 2015.

As of August 1, there are 132 houses for sale, which are not currently at the contract stage and are looking for offers.

A typical monthly inventory averages 300-325 homes.

Maricopa isn’t the only one who sees a lack of inventory. I keep in touch with agents throughout the valley on a daily basis and they face similar problems.

Homes that are priced in line with the market are getting bids above the asking price in the first week, and many of the homes are being purchased by Real Estate Investment Trusts (REITs).

July 2021 July 2020
Number of houses for sale 132 203
Average selling price 351,757 260960
Average price per sq. Foot. 177 131
Average number of days on the market 24 42

These are the Maricopa figures for July 2021 for houses in HOA units, since non-HOA areas are so diverse.

Here are some key figures for the month:

FOR SALE
132 – Houses currently available for sale, not under contract, looking for offers
362 – Homes currently under contract (must be closed for escrow within 45 days pending review, appraisal, etc.)

SOLD OUT
184 – Houses were sold to Maricopa
30 – Houses for sale with private built-in pool
10 – Homes sold in the provinces (active adult community)
21 – Newly built houses / specials sold.

$ 225,000. The least expensive home was the 2,096-square-foot, 4-bedroom, 2-bathroom home sold at 42399 W. Chambers Drive on El Dorado Ranch. It was sold before it was listed.

620,000 dollars. The most expensive home sold was a 4,006-square-foot 4-bedroom, 2.5-bathroom home located on a quarter-acre golf course with swimming pool at 22362 N. O’Sullivan Drive on El Dorado Ranch. The house was sold in 66 days on the market.

Number of bedrooms (out of 184 homes sold):
2 rooms – 12
3 rooms – 87
4 rooms – 67
5 rooms – fifteen
6 bd. – 3
7+ places – 0

Garage parking (out of 184 sold homes):
2 cars – 150
3 cars – 34
4-carriage – 0

Price range of 184 sold:
USD 225,001-250,000 – 1
USD 250,001-275,000 – 6
275,001-300,000 USD – 21
300,001-325,000-37
USD 325,001-350,000 – 33
350,001-375,000 USD – 35
USD 375,001-400,000 – 17
USD 400,001-425,000 – 11
USD 425,001-450,000 – 9
450,001-475,000 USD – 3
USD 475,001-500,000 – 3
500,001-550,000 USD – 5
550,001-600,000 USD – 1
USD 600,000 + – 2

Bottom line: The market is strong and competitively priced homes are selling very quickly. Come out and meet your new neighbor!

Consult your local real estate specialist for help buying or selling a home.

Brian Petersheim is a successful Homesmart Realtor and can be contacted at 602-206-9644 or by email. BrianPetersheim@gmail.com

www.MaricopaNewHomes.Net

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