Gold Canyon Arizona Real Estate Stats-March 2011

– Posted in: Gold Canyon Real Estate

Home Sales in the Gold Canyon Arizona area for March 2011 shows more sales than home sales in February 2011, but the average sales price, on a square foot basis, was down more than any month in the past 2 years.

Snow-birds are still playing a huge role in the home sales that show an increase for the month. Across all of the Phoenix Valley there were more home sales for a given month than have been reported in the past 66 months. Does this indicate our market is on an upswing? Impossible to totally predict, but honestly not likely. Every year at this time, even during the worst of the real estate slump this time of year sees more home sales than at any other time during the year. The snow-bird seasonal factor combined with more buyers coming forth with cash to buy low priced homes seems to be primary factors for the better month.

The average price per square foot of “non-distressed” homes sold was down  from the previous month, but “distressed” home sales prices were up slightly from the previous month.

March 2011 – Real Estate StatsGold Canyon Arizona at a glance

  • March 2011 sales at a glance shows significant more Gold Canyon homes sold in March than in February 2011. March sales were 69 and February sales were 46.
  • Average price per square foot for sold homes in March 2011 was $105.57 – down from February’s sales price averages which was $109.02. (Of note, back in March 2009, the average price per square foot for homes sold in that month was $125.56. So if you are a seller and have been waiting until the market is better to sell, honestly waiting has continued to cost you money for your possible sale.)
  • Average price of homes sold in Gold Canyon Arizona in February 2011 was $213,014, which is also down from February’s averages of $240,172.
  • Distressed properties – of the 69 homes sold in the Gold Canyon Arizona area in March 2011, there were 29 of the properties sold that were “distressed”***.
  • Average price per square foot for “distressed” homes sold in March 2011 was $91.05.
  • Number of homes on market in Gold Canyon Arizona during March 2011 – there were 352 homes on the MLS.
  • Based on 352 homes on the MLS, at the current rate of home sales this is a 5 month inventory of homes.

(** A “distressed” home means either a home is a “short-sale” or one that has foreclosed.)

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(Real estate data taken from Phoenix Multiple Listing Service. Information is deemed accurate, but not guaranteed.)