Gold Canyon Arizona Real Estate Stats-January 2012

Residential home sales in the Gold Canyon Arizona area for January 2012 were down from December 2011 numbers. Stats show numbers back down to the levels of the later months in 2011. Some larger-more-expensive homes sold in the time period and moved the price averages up a bit for the month. Nothing to indicate a new trend.

January 2012 – Real Estate Stats – Gold Canyon Arizona at a glance

• January 2012 sales shows 28 homes sold. Of these 28 sales, 5 of them were “distressed” when the sale occurred.
  
• Average price per square foot for sold homes in January 2012 was $108.98 – up from December 2011’s sales price averages which were $96.77. (But remember this rise can be accounted for with the sale of more homes that were somewhat larger.)
• Average price of homes sold in Gold Canyon Arizona in January 2012 was $245,779, which was up from the December 2011 averages of $194,063. (Again this is due to some larger home sales – not to be considered a trend.)
• Distressed properties – of the 28 homes sold in the Gold Canyon Arizona area in January 2012, there were 5 of the properties sold that were “distressed”***. This much lower number of distressed sales from recent prior months should not be thought to indicate that the market is improving and that there are fewer “distressed” homes on the horizon.   What has been happening at times is that homes foreclose and are picked up by investors, who then fix them up to make them more attractive for sale —  then the homes are sold, but the sale at that time is not considered a “distressed sale”.
• Average price per square foot for “distressed” homes sold in January 2012 was $88.89, up from the December 2011 average of $76.67.
• Number of homes on market in Gold Canyon Arizona during January 2012 – there were 337 homes on the MLS. This is more than the number showing on the MLS in December 2011, which was 323.
• Based on 323 homes on the MLS, at the current rate of home sales this is an 12 month inventory of homes.

(** A “distressed” home means either a home is a “short-sale”or one that has foreclosed. A “traditional” sale means there is not a bank involved, such as a short-sale or foreclosure. A “traditional” sale is with human owners, not a financial institution.)

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