The Casa Grande Real Estate market continues to remain strong into the fall but we do see that the market may be slowing down ever so slightly. This is typical for real estate markets in the fall and normally it is seasonal and lasts through the holidays and through the winter. But the real estate market normally picks up again for the Spring Buying season so the Casa Grande real estate market might be trending much like markets typically do. Either way, lets look at some of the numbers for the month of October 2021 for Casa Grande Real Estate.
Homes For Sale in Casa Grande, AZ
The nice thing to see in the Casa Grande real estate market is that the number of active listings on a year over year basis has increased by 40.7%. The real estate market last year this time had only 123 active listings, but this year in October the market had 172 listings, resulting in a healthy increase over the numbers from 2020. In reviewing some of the listing numbers from 2020 compared to 2021, much of the listing activity in 2020 was for homes priced in the $200,000 – $249,999 range. But this year, we saw much of the activity in the $250,000 to $299,999 range in the beginning of 2021 and now in the second half of the year we are seeing quite a bit of listing activity in the $300,000+ price range.
Another interesting piece of sales information tells us that for all homes for sale in Casa Grande, AZ, more than 50% of the homes sold in 2020 sold for $250,000 or less. In 2021, the numbers trend upwards with more than 50% of the homes sold this year selling for $250,000 and higher.
Casa Grande Median Sales Price
The median sales price for all homes sold in the Casa Grande Real Estate market for October 2021 creeped up to $305,000. While that number is more than 25% higher than a year ago, the price increases have seemed to slow down compared to the spring of this year. Yes, prices remain higher than they were a year ago, but the rate of the price increases has slowed and are allowing buyers to catch up to the new pricing reality in the market.
Home buyers hoping to buy a home in the Casa Grande real estate market must be better prepared financially to buy a home going forward. With the new higher real estate pricing in Casa Grande, potential home buyers need to show stronger income, less debt to manage their debt-to-income ratio (DTI), and home buyers need to manage their credit responsibly in order to buy a home in this new real estate environment.
Jobs in Casa Grande
I always like to highlight any new jobs announcement for the Casa Grande area and this month we have a new announcement that comes from Kohler Co. out of Wisconsin. The Kohler Co announced a new 1-million square-foot manufacturing facility to be built on 216 acres in Casa Grande that will eventually employ a workforce of 425 people.
Once the project is completed, these new jobs in Casa Grande are expected to have an hourly wage at least 75% higher than minimum wage.
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 or via email at steveATthehomebuyinghub.com.
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