The number of available homes in Maricopa has stayed real consistent over the last several weeks with 313 subdivision homes listed on the MLS this week at an average of $95.66 per square foot. 210 homes are currently under contract and 53 homes have sold over the last couple of weeks, selling at an average of $87.16 per square foot and bringing our YTD numbers now to 1,194 homes sold at an average of $86.63 per square foot. The rise in the average sold price per square foot has been significant this year. Last year, the market flirted with the $80 mark on a couple of occasions but ultimately fell short, ending the 2015 sales year with a $78.71 per square foot average. This year however we crested the $80 mark in late January and have not looked back and even though there are a few months left in the year, the trajectory of the market suggests that not only will the average sold price per square foot top the $80 mark, it will most likely finish above the $85 mark. An impressive 12 month gain in this broad market value.
So let’s take a look at how the month of August did year over year, and then take a quick look at YTD numbers through the first 8 months of the year.