Gold Canyon Arizona Real Estate Sales-February 2023

Gold Canyon Arizona’s February 2023 home sales were up from the reported sales in January. And interestingly there was exactly the same number sold in February 2023 as were sold in February 2022.  The average price per square foot for homes sold in February 2023 was less than the prior month.

February 2023 – Real Estate Sales – Gold Canyon Arizona at a glance

Let’s review what happened in February 2023 to Gold Canyon area real estate residential home sales.

  • February 2023 saw 47 MLS-listed homes sold in the Gold Canyon area during the month. There were no distressed home sales – (ie, foreclosure or short-sale.)
  • The average price per square foot of homes sold in February 2023 was $259.30.
  • The average cost of Gold Canyon Arizona homes sold in February 2023 was $489,194.
  • The number of Gold Canyon Arizona homes on the market in February 2023 was 153 (MLS).
  • Based on 153 homes listed on the MLS – it’s a 3-month inventory of homes – at the current rate of home sales.
  • February 2023 residential home sales in Gold Canyon saw precisely the same number of homes sold during the February 2022 reporting period.

Interest rates continue to affect potential buyers’ ability to buy the homes of their choice. Both resale homes and new home sales are being impacted. Buyers are still hesitant at times due to their worry about the stability of their jobs, causing some of them to have to really think hard about considering making a purchase. New home sales continue to be affected by rising costs for materials, shortages of materials, and labor shortages. But regardless of all this — demand for homes is still there — so if you are thinking of selling, there are buyers looking.

Sellers in this market, in most cases, do need to do more in preparing for potential buyers than home sellers had to deal with only a few months ago – when buyers were snatching up listings within hours of being placed on the MLS. Sellers will benefit from handling needed repairs and doing what they can to ‘spiff’ up their homes before they put their homes on the market.

What will our area see regarding home sales as we continue throughout spring? Only time will tell — stay tuned.

(Note — the above information only reflects home listings and sales in the Multiple Listing Service (MLS). The Gold Canyon area has various new home builders, as well as custom builders that are actively building and selling homes. Builder-constructed homes are NOT referenced as part of the above numbers, because they are not listed in the MLS. Additionally, homes sold utilizing selling services not a part of the MLS are not included in referenced numbers. If a home sells that is not listed on the MLS, the information related to that sale is not included in this information.)

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