Gold Canyon Arizona Real Estate Sales-October 2023

Gold Canyon Arizona’s October 2023 home sales dramatically decreased when compared to sales reported for the prior month, September 2023. However, the number of October 2023 homes sold was about the same number of homes that sold last year in the same reporting period –  October 2022.   The average price per square foot for homes sold in October 2023 was similar to the reported price for the prior month.

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

Let’s review October 2023 Gold Canyon area real estate residential home sales.

  • October 2023 saw 9 homes sold in the Gold Canyon area that were listed on the MLS. No distressed home sales were reported- (ie, foreclosure or short-sale.)
  • The average price per square foot for homes sold in October 2023 was $273.18.
  • The average cost of Gold Canyon Arizona homes sold in October 2023 was $638,233.
  • The number of Gold Canyon Arizona homes on the market in October 2023 was 136 (MLS).
  • Based on 136 homes listed on the MLS – that is a 15-month inventory of homes – at the current rate of home sales.
  • October 2023 residential home sales in Gold Canyon saw almost the same number of homes sold as were sold during the October 2022 reporting period.

Rising cost of living, and worries about job stability, are all issues that create worry for folks and can cause them to think more before considering making a significant purchase of a home. Additionally, rising costs for home building materials, shortages of materials, and labor shortages — all affect new home sales. This all said, there is a continuing number of new homes being constructed. Pinal County is seeing significant numbers of new home construction, with more still to come.

Demand for homes is there —  buyers are looking if you are thinking of selling

Despite rising interest rates for home loans, there is still significant demand for seller-resell homes. There are cash buyers who are not worried about loan rates. But compared to the days when interest rates were lower, and homes were selling more rapidly, current sellers may need to prepare their homes a little bit more. The market has changed from 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 into winter? 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 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 the referenced numbers. If a home not listed on the MLS sells, that sale information is not included in this information.)

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