By Pat Lairson
The number of homes for sale dropped to 309 single-family dwellings in an HOA subdivision in August for Maricopa.
The average price-per-square-foot is $93.22 for homes currently listed. It is typical to enter into the fall season with a lower inventory as many people like to list their home in the fall and winter in Arizona. With this lower inventory, though, waiting to list could mean you are missing out on a sale now. The lowest-priced home for sale in a subdivision is listed at $89,900 and the highest listing is $435,000.
The market has not slowed this summer averaging about a 20-percent increase in sales over the same period last year. From July 1 to Aug. 8, 218 subdivision homes are under contract or have closed. The average closed sales price was $87.71 per square foot. There are several factors that could be contributing to this good, steady sales market.
Many people who could not buy because of short sales or foreclosures in the last three to five years now can. Also the loan program called Pathway to Purchase has assisted many buyers with their down payment and closing costs.
Pathway to Purchase will give a buyer 10 percent of their purchase price up to $20,000 toward their costs. Many people qualify with their guidelines, the main criterion for which is you have to own the home for five years. This is a grant program so when the funds are used, the program will go away. If you are thinking about buying, check into this program now!
New-home permits skyrocketed in 2016. Look at the number of permits issued since Jan. 1:
Builders are buying vacant lots in subdivisions and filling in the gaps. Ask a local Realtor to take you to the new build sites. There are many details involved in buying a new home and having buyer representation really helps.
Maricopa still is one of the lowest-priced communities in the Greater Phoenix area. We still have quality, affordable housing. Our commercial development is increasing, too, with several projects breaking ground soon. You can follow all the commercial development coming to Maricopa on the city website.
We really are a city on the move. One of the best things we can do to ensure that Maricopa stays on the move is to shop local. That means buy your gas here and your food, go the movies here and use your local Maricopa Realtors to help you buy and sell your home.