Brian Petersheim

By Brian Petersheim

The Maricopa real estate market continues to strengthen despite the uncertainty of the coronavirus pandemic.

The tightening of the housing market is great for sellers but poses many challenges for buyers and investors. The number of available homes for sale is down more than 60% from a year ago.

In recent months, on any given day, there were 300 homes for sale – on average – in the city of Maricopa. Currently, there are only 130 homes for sale.

That number is mind-blowing because once you add any required parameters to a real estate search there are only a handful of homes to choose from, and other buyers using the same requirements will be looking at the same homes.

Of the 130 homes currently available:

• 27 of them are for sale in Province (active adult community)
• 52 of them are new build/spec homes
• That leaves 51 homes that are existing resale homes

When using numbers of bedrooms as the parameter, of the 130 available homes, the numbers breakdown like this:

• 2 bedrooms – 23
• 3 bedrooms – 46
• 4 bedrooms – 41
• 5 bedrooms – 18
• 6 bedrooms – 2
• 7+ bedrooms – 0

Searching by garage capacity?

• 2-car – 90
• 3 car – 39
• 4 car – 1

Using price as a parameter?

• $150,001-175,000 – 0
• $175,001-200,000 – 2
• $200,001-225,000 – 10
• $225,001-250,000 – 27
• $251,001-275,000 – 27
• $275,001-300,000 – 23
• $300,001-350,000 – 23
• $350,001-400,000 – 13
• $400,001-450,000 – 5
• $450,001+ – 0

What about a pool?

Pool – 14
No pool – 116

So, what does this all mean?

For buyers: Put your best foot forward. Before shopping for a home, get prequalified. If you do find the perfect home, a pre-qualification letter must be attached to the offer. Without the letter, it is an incomplete offer. Be prepared.

For sellers: A well-priced home listing will get quick attention in this market. Your first week after being listed may be busy and chaotic. Make your home available for showings, you may get more than one offer.

Bottom line: The market is strong, and homes that are priced competitively are selling. Get out there and meet your new neighbor.

Here’s current inventory in Maricopa for the week of June 1. These numbers only focus on the homes in HOA subdivisions, since the non-HOA areas are so diverse.

• 130 homes currently available for sale, not under contract, looking for offers
• 247 homes currently under contract (should close escrow within 45 days pending inspection, appraisal, etc.)

• $180,999 – Least expensive home available. (40165 W. Hayden Dr. in Homestead: 3 bed/2 bath, 1,262 square feet)
• $450,000 – Most expensive home available. (42533 W. Sandpiper Dr. in Province: 2 bed/2.5 bath, 2,296 square foot, waterfront featured in Phoenix Home and Garden magazine with gourmet kitchen and loaded w/upgrades)

• 128 regular/non-distressed listings
• 1 Short sale/pre-foreclosure
• 1 Foreclosed/bank owned

Please consult a local real estate professional for help buying or selling a home.

Brian Petersheim
HomeSmart Realty
602-206-9644
MaricopaNewHomes.Net
CanadiansInArizona.net