By Pat Lairson
Even though the year is not quite over, let’s look at the numbers for the 2016 housing market in Maricopa and compare it to the previous year. If you are planning to buy or sell your home in 2017, these numbers will help guide you and give you an idea of what you might pay for a home or how long it might take to sell your home.
These numbers do not take into account the number of new builds that closed as they are not listed on the Multiple Listing Service. Overall, there is about a 10-percent increase in the number of homes closed from 2015 to 2016, and just over 11-percent increase in price per square foot. These numbers certainly reflect a stronger real estate market, yet the market growth is steady and reasonable.
More new builders are coming into Maricopa, and I will be more specific in January about a builder that may be returning that we have not seen in a while. The good news is, builders are “filling in” the empty lots in various subdivisions. Although depending on the price points for new homes, this can make it more competitive for the resale market. If 2017 is your time to buy or sell your home, we are still positioned for growth.
Even though interest rates have been fluctuating a bit after the election, they are still low. If you want to list your home, our current inventory is 314 subdivision homes available for sale, with 59 of those homes being in the adult community of Province.
Have a wonderful holiday and feel free to contact me or a local Realtor with any questions or for a more in-depth market analysis.
Pat Lairson, Realtor
This column appears in the December issue of InMaricopa.