Real Estate Update-Gold Canyon Arizona-End of November 2008

For Gold Canyon residents, (or individuals interested in buying homes in Gold Canyon), below is information about how the current real estate market is doing. (This data is for month end November 2008).

This information is provided by Benjamin Realty, your local Gold Canyon and East Phoenix Valley Realtors.

November 2008-Real Estate Stats-Gold Canyon Arizona
During November 2008 there were 423 homes on the MLS in Gold Canyon Arizona. The number of homes sold during November was 16. Of the 16 homes sold, 7 of these homes were “distressed” **.

The average sales price of Gold Canyon homes for November was $262,132.

(Based on the level of sales currently happening, it could potentially take 26 months to move through and sell the current inventory of active homes.)

October 2008-Real Estate Stats-Gold Canyon Arizona
Let’s look at how November 2008 compares to October 2008 sales in Gold Canyon.
In October 2008 there were 400 homes on the MLS. The number that sold was 17, with 7 of these being “distressed”**. The average sales price was $286,016.

Comparison with November 2007-Real Estate Stats-Gold Canyon
In November 2007 there were 470 Gold Canyon homes on the MLS listed for sale, with 15 selling. Average sales price was $298,533.

(In November 2007 there were potentially 31 months of inventory based on the sales rate at that time.)

(Note- not all the home listed as “active” in the MLS in 2007 have sold since that time, there have been a number of home owners who have taken them off the market for sale.)

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

(This data is compiled from the Phoenix ARMLS for the time period that is referenced.)

If you need real estate assistance, contact Bob and Carolin Benjamin at 480-201-3001.

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