Gold Canyon Arizona - Real Estate Update - July 2009

For Gold Canyon residents, (or individuals interested in buying homes in Gold Canyon),
here is information about how the current Gold Canyon real estate market is doing.
(This data is for month end July 2009).

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

July 2009 -Real Estate Stats – Gold Canyon Arizona

At a glance – while prices are continuing in general to drop in price, the average price of sold homes in July seems a bit higher as some higher priced inventory was among the homes sold, thereby bringing the average price up a bit for the month. The average price of Gold Canyon homes sold in July 2009 was $298,825. The average price of homes sold in June 2009 was $205,545.

The number of homes sold is only slightly down from last month. July 2009 saw 42 homes sold. June 2009 saw 44 homes sold. And a year ago, July 2008 saw 24 homes sold. So the number of Gold Canyon homes sold in a 30 day period has continues to be approximately doubled since a year ago.

During July 2009 there were 394 homes on the MLS in Gold Canyon Arizona.

(In June 2009 412 homes were listed for sale on the MLS. With the summer heat in Arizona it is typical for some homes to come off the market for the summer, but the drop in inventory for sale also can be attributed to some home owners removing their homes off the market due to their homes not selling and the home owners are either unable to reduce their prices any more, or simply won’t and have decided to stay put.)

The number of homes sold during July 2009 was 42.
Of the 42 homes sold, 23 of these homes were "distressed" **.
The average sales price of Gold Canyon homes for July was $298,825.

(Based on the level of sales currently happening, it could potentially take 9 months to move through and sell the current inventory of active homes.)

Let’s compare June 2009 with July 2009-Real Estate Stats – Gold Canyon Arizona
Let’s look at how July 2009 compares to June 2009 sales in Gold Canyon.
In June 2009 there were 412 homes on the MLS.

The number that sold was 44, with 23 of these being "distressed"**.
The average sales price in June 2009 was $205,545.

Comparison with July 2008-Real Estate Stats – Gold Canyon
In July 2008 there were 402 Gold Canyon homes on the MLS listed for sale, with 24 selling.

Of these 24 sales, 4 of the homes were distressed sales.
Average sales price was $484,975.
(In July 2008 there were potentially 17 months of inventory based on the sales rate at that time.)

(** 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. Data is deemed to be accurate, but not guaranteed.)

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

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