Casa Grande Market Conditions

Casa Grande Market Conditions

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Casa Grande Market Conditions

How do the average sales prices compare to those in another subdivision? How long is it taking to sell a home in today's market? Are we in a buyer’s market or a seller’s market?  We have statistical information in easy to read graphs and charts that give you a good idea of what's happening in this market. Check often, as this information will be updated monthly.  

Months Supply of Inventory

We've created this simple chart to show how many months of inventory we have in Casa Grande in various price points. The numbers on the left hand side of the chart represent the price range of homes on the market. The numbers across the bottom represent the month's supply of inventory.

In each price point we list the number of months it will take to sell all the active listings in that price point, assuming no more new listings come on the market.  For example, in the price range above $250,000 we have an unhealthy 24 months of inventory, which translates into a buyers market.  However, in the price points below $200,000 we have a very healthy and active seller's market with less than 3 months supply of inventory.  The price range between $200,000 and $250,000 is leaning toward a seller’s market with just a 3.3 month supply of inventory.  The market is definitely heating up!

 

Supply and Demand FS, UC, Sold

This graph shows 24 months of supply vs. demand. The red bars represent the number of homes for sale. The green bars represents the number of closed sales by month while the blue bar shows the number of “under contract” properties-those that are in escrow. A comparison of May 2013 vs. May 2015 shows a 7.3 % increase in available listings, and a 42% increase in listings “under contract,” awaiting closing.  While there were 20% less homes sold and closed in May 2015 compared to May of 2013, the overall trend is positive.

Median Price 

The Casa Grande median price of sold properties has been steadily increasing over the past two years with a 9.0% increase in the median price of sold homes compared to this time in 2013.  You’ll note the median price of homes for sale has increased 12% over this time period, while the median price of those “under contract” increased 10%.  Our opinion is that the strict appraisal guidelines in place today are limiting the natural increase in home values in our area, and will continue to do so as long as so many home purchases are financed, rather than cash sales.

 

 
 

 

Contact Information

Yost Realty Group
RE/MAX Casa Grande
317 E. Cottonwood Lane, Suite C
Casa Grande AZ 85122
520-836-1717
Fax: 520-836-1177

Each RE/MAX Office Independently Owned and Operated