For month ending January 2010 this is how the Gold Canyon Arizona real estate market was doing.
January 2010 – Real Estate Stats – Gold Canyon Arizona at a glance.
- The average sales price per sq foot jumped a bit higher than past months to $121.24, but this jump can be attributed to the fact that a large and pricey (above $1mil) home sold. When the luxury market category has home sales in a given month it always skews the price averages a bit higher. The average price per square foot of sold homes in December 2009 was $103.83.
- The average price of sold homes in January in Gold Canyon was $313,839. The average price of homes sold in December 2009 was $216,632. Again, the fact some higher end homes were in the mix has moved the average sold price upward.
- The number of homes sold in January 2010 was 41, which is a decrease over the 52 sold in December 2009. (Of the 41 sold, 19 of the properties were “distressed”.) A year ago, January 2009 saw 17 homes sold with 12 of those being “distressed”. So the number of Gold Canyon homes sold in a 30 day period continues to be better than a year ago.
- During January 2010 there were 417 homes on the MLS in Gold Canyon Arizona. January 2009 saw 504 homes on the market, as comparison. Based on current sales activity the 417 homes on the market are considered to be a 10 month inventory of homes in the area.
- In January 2009, 504 homes were listed for sale on the MLS in the Gold Canyon Arizona area. So the 417 number of homes listed for sale on the MLS for January 2010 is less than we saw for the same time period in 2009.
- In Gold Canyon, and elsewhere, there continues to be a large “shadow inventory” of homes that the banks have moved to foreclose upon, but they have not released them into the MLS inventory. Some home owners have moved out more than a year ago with the banks taking over the homes, but the banks are still sitting on the inventory and not putting it back into the marketplace. This “shadow inventory” will continue to play a role in home prices.
(** A “distressed” home means either a home is a “short-sale” or one that has foreclosed.)
(Real estate data taken from Phoenix Multiple Listing Service. Information is deemed accurate, but not guaranteed.)