Maricopa AZ Real Estate Market Update – Year-end Recap for 2016

We have had a very busy year! With strong demand from the buyers and a low inventory of homes, our appreciation for the year is at 8%*!

A few statistics:

  • Average Sales Price $184,357
  • Average Size of Home Sold $2,130
  • Average Price per Square Foot $90.03

Here’s a list of the homes that sold last month in the City of Maricopa.

Full List Maricopa AZ Sold Homes 12-2016

A few things to remember when looking at market statistics:

  • *Only Sold homes determine the value of your home. Your neighbors home can listed for any amount and the home may or may not sell at that price.
  • *Two-story homes sell at a lower price per square foot than one-story homes. Reason being the construction costs are higher for a one-level home due to the foundation and roof top. There is also a higher buyer demand for one-level homes at this time as well.
  • *Smaller homes have higher price per square foot. As the home increases in size, the price per square foot decreases.
  • *The best comps to determine what you home is worth will be within one mile of your home and in the same subdivision. To pick comps, always try to choose homes that are close to the same size +/- 10% and have similar upgrades, lot features, etc.

If I can be of service to you, please feel free to contact me anytime!

*The 8% includes all homes in Maricopa that are located in a HOA and listed on the MLS. This will include homes in Province and new home construction, when listed.

About Farhat and Associates Real Estate

Professional - Our early careers were in Accounting, Property Management, and Technology fields. Both Aziz and I found our passion for real estate as we started in the industry as Investors. Since 2004, we have devoted ourselves to this business on a full-time basis and have sold 100s of homes for our clients. Personal - Our passions are our family, our dogs, outdoor activities, reading, photography, golfing, and discovering new foods/restaurants.
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