August 2014 – Real Estate Stats – Gold Canyon Arizona at a glance
August brings with it the last of our seasonal monsoons, and soon the weather will become cooler. We’ll begin to see more returning “snowbirds” and seasonal residents and visitors. Let’s see what happened in August with real estate sales in the Gold Canyon area.
- August 2014 home sales shows 21 homes sold. Of these 21 sales, 4 of them was “distressed” when the sale occurred.
- Average price per square foot for sold homes in August 2014 was $125.48.
- Average price of homes sold in Gold Canyon Arizona in August 2014 was $294,436.
- Number of homes on market in Gold Canyon Arizona during August 2014 – there were 175 homes on the MLS.
- Based on 212 homes on the MLS, at the current rate of home sales this is an 8 month inventory of homes.
As comparison, August 2013 saw 14 homes sold, but August 2012 saw 37 homes sold for the same reporting period.
In August, while the average price of homes sold was a bit higher than the prior month, the average price per square foot of the home was less. The lower price per square foot average is most likely because there were 4 of the homes sold that were distressed, (meaning they were either a short-sale or a foreclosure). The distressed homes, selling for a bit less would have the effect of dragging down the average price per square foot. The past few months the area has only been seeing 1 or 2 distressed, so the 4 in August was more than we have seen in the area since October 2013.
More snowbirds and seasonal visitors will be returning to the local area as the weather becomes cooler. What effects will this have on real estate sales this year? Will we see an increase in sales as snowbirds decide they like it here and decide to buy? No one knows — stay tuned as we continue to report monthly information.
(Real estate data taken from Phoenix Multiple Listing Service. Information is deemed accurate, but not guaranteed.)