Maricopa real estate market stays red-hot through July

The Maricopa real estate market inventory continues to make buyers go crazy and sellers smile.

The number of homes currently for sale in the city is still one of the lowest inventories seen since I started tracking monthly sales in 2015.

As of Aug. 1, there are 132 homes for sale, not currently under contract and looking for offers.

Normal monthly inventory averages between 300-325 homes.

It’s not just Maricopa seeing a lack of inventory. I have been keeping in touch with agents throughout the Valley daily, and they are experiencing similar issues.

Homes priced within market parameters are receiving over asking price offers within the first week, and many of the homes are being purchased by real estate investment trusts (REIT).

	July 2021	July 2020
No. of homes for sale	132	203
Average sale price	351,757	260,960
Average price per sq. ft.	177	131
Average days on market	24	42

These are the Maricopa numbers for July 2021 for homes in HOA subdivisions, since non-HOA areas are so diverse.

Here are some key numbers for the month:

FOR SALE
132 – Homes currently available for sale, not under contract, looking for offers
362 – Homes currently under contract (should close escrow within 45 days pending inspection, appraisal, etc.)

SOLD
184 – Homes were sold in Maricopa
30 – Sold homes with a private built-in pool
10 – Homes sold in Province (active adult community)
21 – New build/spec homes sold

$225,000 – Least expensive home sold was a 4-bed/2-bath, 2,096-square-foot home at 42399 W. Chambers Drive in Rancho El Dorado. It was sold before it was listed.

$620,000 – Most expensive home sold was a 4-bed/2.5-bath, 4,006-square-foot highly upgraded home on a quarter-acre golf course lot with pool at 22362 N. O’Sullivan Drive in Rancho El Dorado. The home sold in 66 days on the market.

Number of bedrooms (of the 184 sold homes):
2 bed – 12
3 bed – 87
4 bed – 67
5 bed – 15
6 bed – 3
7+ bed – 0

Garage parking (of the 184 sold homes):
2-car – 150
3-car – 34
4-car – 0

Price ranges of the 184 sold:
$225,001-250,000 – 1
$250,001-275,000 – 6
$275,001-300,000 – 21
$300,001-325,000 – 37
$325,001-350,000 – 33
$350,001-375,000 – 35
$375,001-400,000 – 17
$400,001-425,000 – 11
$425,001-450,000 – 9
$450,001-475,000 – 3
$475,001-500,000 – 3
$500,001-550,000 – 5
$550,001-600,000 – 1
$600,000+ – 2

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

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

Brian Petersheim is a Realtor with Homesmart Success and can be reached at 602-206-9644 or email [email protected].

www.MaricopaNewHomes.Net