By Pat Lairson
There are two things you need to know about the Maricopa real estate market:
1. Houses are selling.
2. Houses are selling fast.
As we move into April, there are only about 289 single-family, HOA subdivision homes for sale in Maricopa. If you subtract the 70 listings in Province, the 55+ subdivision in
Maricopa, then we are down to 219 homes available for sale.
This time last year we had nearly double the inventory of homes to choose from. These numbers indicate a sellers’ market and indeed it is. Homes are not lasting too long on the market.
There have been 179 homes that have closed from Jan. 1 to March 16 with an average-days-on-market of 63 days. Needless to say, it is a great time to sell your home.
Don’t worry, buyers, if you missed out on the Pathway 2 Purchase, no-down-payment assistance program. There is always a Plan B. You might want to see if you qualify for the Home PLUS loan program. This program gifts the buyer between 3 to 5 percent of a down payment and the gift never has to be paid back.
Some of the qualifications include your maximum income limit cannot exceed $92,984, you can’t own any other real estate, and the maximum purchase price of the home cannot be above $371,936. If you are renting, and with a true shortage of rental homes, it just might be the time to check into this program.
There is so much growth and development happening across the valley. New and expanding industries are hiring and we are seeing some great economic shifts. If you want to find out more about what your home is worth, we can give you a market analysis. Or if you are interested in knowing about lending rates or this no down payment assistance program, we can connect you to a great lender.
Pat Lairson, Realtor
The Maricopa Real Estate Company