By Brian Petersheim
The month of May is one of the busier months for buying and selling homes in Maricopa, and May 2019 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.
May’s median list price in Maricopa was $238,495 (up $1,500 from last month)
Average price per square foot was $117 (up $2 per square foot from last month)
Average days on the market was 59 (which is a seven-day decrease from last month)
Homes under $200,000 averaged 51 days on the market, while more expensive homes over $300,000 averaged 75 days on the market
- 363 Homes currently available for sale, not under contract, looking for offers
- 264 Homes currently under contract (should close escrow within 45 days pending inspection, appraisal, etc.)In May 2019
- 191 homes were sold in May
- 50 of the sold homes had a built-in private pool.
$162,500 Least expensive home sold – Notes: 3bed/2bath 1,041 sqft in Tortosa, 19296 N. Costa Verdez
$385,000 Most expensive home sold – Notes: 3bed/2.5bath 2,325 sqft in Province (lakefront +loaded with upgrades+owner solar), 41673 W. Harvest Moon Drive.
- 9 Homes sold in Province (active adult community)
- 33 Of the sold homes were new build/spec homes
Number of bedrooms – 191 sold homes
2 bed – 11
3 bed- 80
4 bed – 81
5 bed – 17
6 bed – 2
7+ bed – 0
Garage parking: of the 191 sold
2 car- 138
3 car- 51
4 car- 2
Price ranges of the 191 sold:
The biggest news in real estate in May was the “roll out” of several new floor plans in Palo Brea (diagonal from UltraStar) that will feature the upgrade of an attached RV garage.
In April, Maricopa Meadow’s lots were purchased by K. Hovnanian Homes and they will be building 6 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 empty 150 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.
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