Real Estate Update-Gold Canyon Arizona-End of October 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 information is provided by Benjamin Realty, your local Gold Canyon and East Phoenix Valley Realtors.

October 2008-Real Estate Stats-Gold Canyon Arizona
During Oct 2008 there were 400 homes on the MLS in Gold Canyon Arizona. The number of homes sold during October was 17. Of the 17 homes sold, 7 of these homes were “distressed” **.

The average sales price of Gold Canyon homes for October was $286,016.

(Based on the level of sales currently happening, it could potentially take 24 months to move through and sell the current inventory of active homes.)

September 2008-Real Estate Stats-Gold Canyon Arizona
Let’s look at how Oct 2008 compares to Sept 2008 sales in Gold Canyon.
In September 2008 there were 384 homes on the MLS. The number that sold was 17, with 8 of these being “distressed”**. The average sales price was $239,159.

Comparison with October 2007-Real Estate Stats-Gold Canyon
In October 2007 there were 467 Gold Canyon homes on the MLS listed for sale, with 19 selling. Average sales price was $372,909.

(In October 2007 there were potentially 25 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.)

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

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