There have been many changes in the local real estate market trends including appreciation! In fact, since last June of 2011, the average price per square foot of active listing prices has increased 28.1%. This figure may be very different from what you’re hearing on the news which can be anywhere from 3 to 6 months behind and is typically based on national or metropolitan city statistics. When analyzing market trends, statistics can change dramatically when comparing areas.
Casa Grande tends to be a seasonal market due to our strong influx of winter visitors and seasonal population. Prices and activity tend to rise in the fall and winter months with a strong following in the spring and a ‘cooling off’ in the summer months. However, this year, that trend has changed. We are actually seeing a month over month increase in pricing even through June.
The number of active listings has also been on a declining trend with a 26% decrease since June 2011. Pending and closed sales have also softened a bit for the summer, but are expected to pick up pace in the fall. When listing inventory declines and buyer demand is still relatively strong, we typically see price appreciation.
Good things are happening in real estate around Casa Grande and we hope to see the trends continue!
If you have any real estate related questions please don’t hesitate to ask – I am here to help!