June real estate saw increased market value

By Brian Petersheim

June 2019 in real estate was hot, and not only for showing homes with temperatures in the triple digits. June is one of the busier months for buying and selling homes in Maricopa.

The market will begin to slow down as many soon to be residents have already chosen their home and will be moving before the next school year starts.

June’s median list price in Maricopa was $239,900  (+ $1,505 from last month). Please see graph below for median list prices from January 2017 to June 2019

The average price per square foot was $116 (-$1 per square foot from last month). The sales price per square foot has increased $20 per square foot from January 2017 to June 2019

Average home days on the market was 57 (which is a 2 day decrease from last month)

Homes under $200,000 averaged 49 days on the market, while more expensive homes over $300,000 averaged 72 days on the market

324 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, etc)
184 homes sold in June 2019
32 of the sold homes had a built in private pool.
$166,000 Least expensive home sold- Notes: 2-bed/2-bath  1,327 sqft Villa in Province, 42485 W. Jawbreaker
$355,000 Most expensive home sold- Notes: 4-bed/2.5-bath  2,863 sqft single story on 1/3-acre over-sized golf course lot with pool, 43298 W. Desert Fairways Drive.
9 Homes sold in Province (active adult community)
33 Of the sold homes were brand new/spec homes

Number of bedrooms – 184 sold homes
2 bed – 12
3 bed – 85
4 bed – 70
5 bed – 15
6 bed – 2
7+ bed – 0

Garage parking: of the 184 sold
2 car – 140
3 car – 42
4 car – 2

Price ranges of the 184 sold:
$150,001-175,000—- 6
$175,001-200,000—- 42
$200,001-225,000—- 44
$225,001-250,000—- 44
$251,001-275,000—- 24
$275,001-300,000—-10
$300,001-350,000—-13
$350,001-400,000—-1

The biggest news of real estate in June was the re-grand opening of the Alterra subdivision with Lennar Homes and their new models. Lennar labels itself as an “everything’s included” builder, which means they build each different floor plan with the same upgrades.

The biggest news in real estate in May was the “roll out” of several new floorplans in Palo Brea (diagonal from Ultrastar) that will feature the upgrade of an attached RV garage.

Final thoughts: The past few weeks the RE market has stayed relatively stable in terms of sales-to-inventory. However, inventory is low enough to keep us in a slight seller’s market.

Any questions about value or the market, please reach out to me.

Brian Petersheim – Realtor
call/text 602-206-9644