Gold Canyon residential home sales in March 2017 showed the typical heightened activity that our seasonal visitors generate when they decide to purchase a home and close escrow before they head back to their northern homes for the summer. Typically we have seen that March reflects a bit of more sales activity than some other months. Often times winter visitors come to the Gold Canyon area for the cold season and like what they experience here. Then they decide to buy a home in the area prior to heading back to their ‘summer home’, so they will have ‘a home of their own’ to return to in the Gold Canyon area next winter season.
The average price per square foot for homes sold this March (2017) was less than the average price per square foot price for homes sold in February. So while more homes were sold in March, they sold for a few less dollars per square foot than we saw in prior months. The average price per square foot was more back in line to what we saw in July of 2016.
March 2017 – Real Estate Stats – Gold Canyon Arizona at a glance
Let’s review what happened in March with Gold Canyon area real estate sales.
- March 2017 home sales showed 61 homes sold. Three (3) of the recorded sales this month were a “distressed” sale – (ie, foreclosure or short-sale.)
- Average price per square foot for sold homes in March 2017 was $143.96.
- Average price for homes sold in Gold Canyon Arizona in March 2017 was $275,571.
- Number of homes on the market (MLS) in Gold Canyon Arizona during March 2017 was 331 homes.
- Based on the 331 homes on the MLS this is a 5 month inventory of homes, at the current rate of home sales.
What will happen in the local real estate market as we move into the hotter weather? History shows us that there will likely be fewer sales per month in the coming months ahead, as has been the case in summer for the past several years. But only time will tell — stay tuned.
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(Real estate data taken from Phoenix Multiple Listing Service. Information is deemed accurate, but not guaranteed.)