Gold Canyon Arizona’s July 2023 home sales were about half the number of home sales reported for June 2023. The number of homes sold in July 2023 was about the same number sold in the previous year – in July 2022. The average price per square foot for homes sold in July 2023 was about the same as the price reported during the prior month.
July 2023 – Real Estate Sales – Gold Canyon Arizona at a glance
Let’s review what happened in July 2023 to Gold Canyon area real estate residential home sales.
- The month of July 2023 saw 27 MLS-listed homes sold in the Gold Canyon area. There were no distressed home sales – (ie, foreclosure or short-sale.)
- The average price per square foot of homes sold in July 2023 was $264.05.
- The average cost of Gold Canyon Arizona homes sold in July 2023 was $492,831.
- The number of Gold Canyon Arizona homes on the market in July 2023 was 90 (MLS).
- Based on 90 homes listed on the MLS – it’s a 3-month inventory of homes – at the current rate of home sales.
- July 2023 residential home sales in Gold Canyon saw fewer homes sold than were sold during the July 2022 reporting period.
The rising interest rates for home loans affect both resale homes and new home sales. Some buyers worry about job stability, causing some to think hard about considering making a significant purchase. Rising costs for home building materials, shortages of materials, costs of materials, and labor shortages — all affect new home sales. This all said, there is a continuing rise in new home construction. The Pinal County area is seeing a significant amount of new construction, with more still to come.
Demand for homes is still there — so if you are thinking of selling, there are buyers looking.
Despite rising interest rates for home loans, there is still a significant demand for seller-sold homes. But compared to the days when interest rates were lower and homes were more rapidly selling, current sellers may need to prepare their homes a bit more. The market has changed from the days 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 stage homes before putting them on the market.
What will our area see regarding home sales as we continue throughout the summer and into fall? 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.)