Gold Canyon Arizona’s May 2023 home sales were less than reported for April 2023. The number of homes sold in May 2023 was only about half as many as the same month in the previous year – in May 2022. The average price per square foot for homes sold in May 2023 was less than the prior month.
May 2023 – Real Estate Sales – Gold Canyon Arizona at a glance
Let’s review what happened in May 2023 to Gold Canyon area real estate residential home sales.
- May 2023 saw 39 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 May 2023 was $259.24.
- The average cost of Gold Canyon Arizona homes sold in May 2023 was $453,940.
- The number of Gold Canyon Arizona homes on the market in May 2023 was 97 (MLS).
- Based on 97 homes listed on the MLS – it’s a 2-month inventory of homes – at the current rate of home sales.
- May 2023 residential home sales in Gold Canyon saw fewer homes sold than were sold during the May 2022 reporting period.
Increasing interest rates for home loans are affecting both resale homes and new home sales. Some buyers worry about job stability, causing some to think hard about considering making a major purchase. Rising costs for home building materials, shortages of materials, costs of materials, and labor shortages — all are playing a role in affecting new home sales.
Demand for homes is still there — so if you are thinking of selling, there are buyers looking.
Sellers in this market may need to prepare for potential buyers a bit more than home sellers had to deal with only a few months ago – back 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 they put their homes on the market.
What will our area see regarding home sales as we continue throughout the summer? 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.)