The Casa Grande real estate market continues to mirror the Phoenix real estate market in the price growth the area is seeing.  Home prices in Casa Grande continued to increase at a record pace and the real estate market in the area continues to remain a Sellers’ market.  But there is a ray of hope on the horizon, as we move into the fall and the upcoming holiday season, real estate prices tend to cool off and this is what we expect to see in the Casa Grande real estate market.

Real estate prices in the Casa Grande real estate market have seen a steady increase over the past year.  Prices have increased more than 20% and the current median list price stands at approximately $384,000.  The good news is that inventory has increased in the past several weeks and now stands at approximately 143 homes.  While this inventory number is well below normal inventory levels for the Casa Grande area, it is an improvement over previous months.  Normal inventory levels for the Casa Grande market would be 250 – 300 homes for sale at any given time, so we have a long way to go to return to “normal”.

The average days on market for the Casa Grande real estate market is 37 days.  This number may be a bit misleading because much of the time on market is for homes priced over $400,000.  For homes priced in the $300,000 to $400,000 range the time homes spend on the market is much less, normally about 14 days or less on average.  This days on market number is slightly higher than this time last year so that is a positive sign for buyers if homes are staying on the market longer.

For most of the Casa Grande homes for sale, it is still a sellers market and homes continue to receive multiple offers.  Competition is not as fierce in the higher end of the market, this is because most of the activity and focus is on the lower priced segment of the market under $400,000.  Casa Grande still has a solid reputation as an affordable place to buy a home and raise a family and home buyers are attracted to this opportunity.

For Buyers looking for a home in the Casa Grande area, the area is growing into a job machine with many new employers choosing to locate in the area.  Lucid Motors is one of the largest new employers to call Casa Grande home.  And long time employer Banner Health is expanding it’s presence in the area to bring more health care jobs to Casa Grande.

For these reasons, Casa Grande homes for sale will continue to show price appreciation and strength in the local real estate market.  If you want to compare numbers for the Phoenix real estate market for the most recent month please click here to read the full article.

If you would like further information about the Casa Grande real estate market or you would like to get pre-qualified to buy a home, feel free to reach out to me directly at 480 365-8978.