Gold Canyon Arizona’s January 2023 home sales continue to be quite sluggish with less than half the number of homes sold during the month when compared to the same reporting period a year ago. The average price per square foot for homes sold in January 2023 was less than the prior month.
January 2023 – Real Estate Sales – Gold Canyon Arizona at a glance
Let’s review what happened in January 2023 to Gold Canyon area real estate residential home sales.
- January 2023 saw only 28 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 January 2023 was $260.20.
- The average cost of Gold Canyon Arizona homes sold in January 2023 was $493,529.
- The number of Gold Canyon Arizona homes on the market in January 2023 was 154 (MLS).
- Based on 154 homes listed on the MLS – it’s a 6-month inventory of homes – at the current rate of home sales.
- January 2023 residential home sales in Gold Canyon saw less than half of the number of homes sold during the January 2022 reporting period.
Interest rates are continuing to affect potential buyers’ ability to buy the homes of their choice. Both resale homes and new home sales are being impacted. Buyers, in some cases, are also expressing worry about the stability of their jobs, causing some of them to hesitate to make 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.)