Gold Canyon Arizona Real Estate Sales-November 2022

Gold Canyon Arizona’s November 2022 home sales continue to be sluggish with only about half the number of homes sold when compared to the same reporting period a year ago.  The average price per square foot for homes sold in November 2022 continues to slide down from only a month ago.

November 2022 – Real Estate Sales – Gold Canyon Arizona at a glance

Let’s review what happened in November 2022 to Gold Canyon area real estate residential home sales.

  • November 2022 only recorded 19 homes sold in the Gold Canyon area during the month. There were no distressed home sales – (ie, foreclosure or short-sale.)
  • Average price per square foot of homes sold in November 2022 was $249.96.
  • Average cost of Gold Canyon Arizona homes sold in November 2022 was $462,468.
  • Number of Gold Canyon Arizona homes on the market during November 2022 was 147 (MLS).
  • Based on 147 homes listed on the MLS – it’s an 8-month inventory of homes – at the current rate of home sales.
  • November 2022 residential home sales in Gold Canyon only saw about one-third of the number of homes sold during the November 2021 reporting period.

Interest rates for loans continue to rise, which affects potential buyers’ ability to buy the homes of their choice. Both resale homes and new home sales are being affected. New home sales are being affected by rising costs for materials, shortages of materials, and labor shortages. But that all said, there is still plenty of demand for homes.

Sellers in this market, in most cases, will find they need to do more to prepare for potential buyers than home sellers had to deal with only a few months ago. Sellers will benefit from being sure to take care of needed repairs, and doing what they can to ‘spiff’ up their homes before they are placed on the market – since there will be more home listings to compete with in attracting a buyer.

What will our area see regarding home sales as we continue throughout the winter season? 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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