By Pat Lairson
As a Realtor I get to show properties all across the Valley. Here is a great question from a reader about how the Maricopa market compares to other areas.
Question: How does the price of current active listings in Maricopa compare with other areas in the East Valley?
Answer: Rather than just state my opinion based on my knowledge of these areas, let me give you some numbers from a comparative market analysis of four local areas, Maricopa,
Chandler, Gilbert and Tempe. The criteria I used are as follows:
1. Single family dwelling
2. At least three bedrooms and two bathrooms
3. Square footage between 1,500 and 2,000
4. Active listings available for sale
Here is how the areas compare:
A. Chandler – Average list price of homes on the market is $270,215, average price per square foot $158.99. There are 137 homes currently for sale with these criteria and average days on market of 37 days.
B. Gilbert – Average list price of homes on the market is $269,914, average price per square foot $154.83. There are 166 homes currently for sale with average days on market of 40 days.
C. Tempe – Average list price of homes on the market is $287,177, average price per square foot $165.38. There are 67 homes currently for sale with these criteria with average days on market of 48 days.
D. Maricopa – Average list price of homes on the market is $176,338, average price per square foot $99.79. There are 80 homes currently for sale with this criteria and average days on market is 73 days.
If you are planning to move out of Maricopa, I hope these numbers help you in your planning. If you have been thinking about buying in Maricopa, you can see that it is still one of the lower priced areas in the East Valley.
The real estate market overall is moving. There are approximately 329 homes available for sale right now in Maricopa. There are 209 homes pending or under contract and waiting to close escrow and 181 homes that have closed escrow in the last month. Interest rates dropped in the last month and if you are thinking about refinancing your current home, this could be a great time to do so. If you have been waiting to list your home until the fall, you might be missing out.
With the great lending programs out right now and low interest rates and increased rents, more people are looking to buy a home.
If you have a real estate question you want answered in this column, please email me.
Pat Lairson is a Realtor with The Maricopa Real Estate Company.