Maricopa housing market cools

By Brian Petersheim | YourValley

Real estate market inventory in Maricopa continues to climb as home sellers drop prices to attract fewer buyers.

In fact, inventory — the number of homes for sale in the city — is probably the highest I have seen since starting to track monthly sales in 2014. In general, higher inventory means sellers have more competition.

As of Aug. 15, 641 homes were for sale, not under contract and looking for offers.
Normal monthly inventory has averaged around 300-325 homes in recent pre-pandemic years, but we are at twice that number.

Maricopa is not the only place with increasing inventory and plateauing prices. The entire Phoenix metro area is in the same boat. I have been keeping in touch with agents throughout the Valley daily, and they are seeing the same trends.

A lot has changed in a year.
In July 2021, a home listed for sale had multiple showings, generally within the first weekend. If the home was decorated well and appealed to buyers, multiple offers were the norm. Offers over asking price were common. Some offers were tens of thousands of dollars higher with an array of buyer concessions to increase appeal to sellers.


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September 2022