Maricopa Real Estate- Market Update
September 23rd, 2008 categories: Maricopa Real Estate, Real Estate News
The last couple of months, I have had a lot of inquiries about buying and selling homes in the Town of Maricopa, located in Pinal County. Here is the current market conditions for Maricopa.
Active Listings: 848
Active with Contingencies: 39
Pending Sales: 234
Sold Homes (8/22/2008-9/22/2008) : 178
Average Sales Price: $143,241
Absorption Rate (Inventory of homes): 4.8 months
As Maricopa is considered an “outlying” area and was if you will “victim” to many investor purchases during 2005, it is one of the areas, much like Queen Creek, that home values have seen a significant decrease. Many of the homes for sale are short sales or foreclosures/bank owned homes.
Per ARMLS data of the current 848 homes for sale in Maricopa, 291 are short sales and 169 are bank owned properties.
**Note- the accuracy of the listings are only as good as the agent that inputs the data, and I find that many listings are not inputed properly, so from my research, the number of homes that are short sales and bank owned for sale in Maricopa are much higher.
There are some great homes and great prices if you are looking to buy a home.
Queen Creek and Maricopa have been areas of interest for Canadian buyers. If you are a from Canada home buyer looking to buy a home in the Phoenix area and need financing-good news!! I was at an open house this weekend at a branch of Compass bank in Mesa and learned that Compass bank has financing options for Canadians as well as other potentional home buyers from foreign countries.
To find out more options for financing contact Aaron Anderson from Compass Bank.
