The local and national real estate markets are constantly changing. Whenever I am out and about wearing my HomeSmart Success shirt at Gyro Grill or Fry’s, someone usually asks those six words “How’s the real estate market doing?”
If you are looking to buy or rent, then it can be hard to get the right house and the right deal by viewing houses part-time. The highly sought after upgraded, unique or pool homes may only last on the market for a few days.
Currently in Maricopa, we only have 2.1 months of supply compared to the 2.9 months of supply this month in 2016. Fewer homes are on the market, and those with distinctive floor plans and curb appeal will attract many of the same buyers.
Average days on the market for a Maricopa home is 82 days, with homes under $200,000 selling fastest averaging 56 days. TIP: Ask your local Real Estate agent to reach out to their colleagues about any upcoming listings and ask for a sneak peek if allowed.
If you are thinking of selling, then the market is currently in your favor. Consider doing an interior painting, carpet cleaning and decluttering for your showings. While the median price in Maricopa is $235,000, prices have increased 9.5 percent from Jun 2017 to June 2018. Opposite of the prices, actual supply of active homes listed is down 12.2 percent from June 2017 to June 2018. TIP: Tell your agent you want the home to hit the Multiple Listing Service on a Thursday to get the most traffic in the first few days because of the weekend.
Also, have the professional pictures done a couple of days in advance. They should be included when the listing initially goes live.
These are the numbers for the city of Maricopa for the week of June 12. These numbers only focus on the homes in HOA’ed subdivisions.
• 297 homes currently available for sale, not under contract, looking for offers
• 257 homes currently under contract (should close escrow within 45 days pending inspection, appraisal)
• 37 of the available homes have a built-in, private pool, which is huge when a buyer must have a pool and they are only seeing 12 percent of the homes available
• $164,500 = Least expensive home available. Notes: 3 bed/2bath plus den, 1,302 square feet in Tortosa, with covered patio and vaulted ceilings.
• $419,000 = Most expensive home available (non-Province) Notes: 4bed/3bath, 3,023 square feet, single story in Glennwilde on quarter-acre with heated pool, water fall, new owned solar, granite and two new air conditioners.
• 296 Regular/non-distressed listings
• 0 Short sale/pre-foreclosure
• 1 Foreclosed/Bank owned
Number of bedrooms- 297 available homes
• 2 bed-29 (mostly Province)
• 3 bed- 91
• 4 bed- 127
• 5 bed- 42
• 6 bed- 7
• 7+ bed- 1
Garage parking: of the 297
• 2 car- 208
• 3 car- 86
• 4 car- 3
• $150,001-175,000—– 5
• $175,001-200,000—- 50
• $200,001-225,000—- 53
• $225,001-250,000—- 80
• $251,001-275,000—– 40
• $275,001-300,000—- 28
• $450,001+ ————–2
Bottom line: The market is strong, and homes that are priced competitively are selling. Get out there and meet your new neighbor. Any questions about value or the market, please reach out to me.
Brian Petersheim is a Maricopa Realtor with HomeSmart Success. He can be contacted at 602-206-9644 or BrianPetersheim@gmail.com.