Maricopa rising, retail lagging
by Callan Smith | Rose Law Group Reporter
Mayor Price speaking at the event Nov. 9./Rose Law Group Reporter
Wednesday evening in Phoenix was all about the City of Maricopa and growth, which according to a panel, including Maricopa Mayor Christian Price, is back.
“Maricopa will continue to pull more and more homebuyers looking for what they can’t find in Chandler,” said Land Advisors, Ryan Semro. Semro pointed to the twenty-five subdivisions currently in the Southwest Chandler submarket, with a median home price of $380,000 and indicated that the supply would run out within thenext two to three years. By contrast, Maricopa has ten active subdivisions with a median home price of $206,000, and Semro suggested that builders are showing major interest in Maricopa in order to replace their East Valley developments.
Demand for housing in Maricopa is expected at 970 units annually for the next ten years, said Richard Merritt, President of Elliott D. Pollack and Company. Maricopa’s population of 50,000 is expected to accelerate 29,100 persons through 2025 said Merritt. Maricopa was one of the fastest growing cities in the nation from 2004 to 2010, when it jumped from ten-thousand people to over forty-thousand said Merritt.
