Maricopa home market heats up with the weather

By Brian Petersheim

The month of April is generally a very busy month for buying and selling homes in Maricopa, and this April was no different. The market will continue to heat up, much like the weather, as many buyers and sellers use summer vacation as a good segue to move before the new school year starts.

April’s median list price in Maricopa was $237,900
Average price per square foot was $115
Average days on the market was 66 (which is a +10-day increase from last month)
Homes under $200,000 averaged 54 days on the market, while more expensive homes over $300,000 averaged 84 days on the market

370 Homes currently available for sale, not under contract, looking for offers
280 Homes currently under contract (should close escrow within 45 days pending inspection, appraisal, etc.)

In April 2019
42 of the sold homes had a built-in private pool.
$156,000 – Least expensive home sold – Notes: 2bed/2bath Villa in Province  1571sqft w/ leased solar 41987 W. Ellington
$379,000 – Most expensive home sold – Notes: 3bed/3bath 2543sqft in Province w/pool, built in bbq,backing to green belt, 20051 N. Monte
19 Homes sold in Province (active adult community)
25 Of the sold homes were new build/spec homes

Number of bedrooms – 207 sold homes
2 bed-20
3 bed- 91
4 bed- 67
5 bed- 25
6 bed- 4
7+ bed- 0

Garage parking – of the 207 sold
2 car- 165
3 car- 41
4 car- 1

Price ranges of the 207 sold:
$150,001-175,000—- 15
$175,001-200,000—- 62
$200,001-225,000—- 44
$225,001-250,000—- 39
$251,001-275,000—- 25
$275,001-300,000—-11
$300,001-350,000—-8
$350,001-400,000—-3

The biggest news in real estate in April was the “reopening” of subdivisions that have not seen new homes being built in nearly a decade.

Maricopa Meadow’s lots were purchased by K. Hovnanian Homes, and they will be building six different single-story floor plans. There are about 90 vacant lots that a brand new home can be built on.

Alterra’s lots were purchased by Lennar Homes, which will offer single-story homes. There are approximately 150 empty lots in Alterra that can be built on. Model home construction has started.

Tortosa had a very large parcel purchased by a developer last year, and plans for those homes are in the works, but in another section of Tortosa, where there are currently homes, builder DR Horton has started construction of several homes in South Tortosa. Currently the subdivision has about 1,400 vacant lots.

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

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Brian Petersheim is a Realtor at HomeSmart Success. He can be called or texted at 602-206-9644.