New Residents’ Real Estate Market Watch
by Brian Petersheim | inMaricopa
Homestead home construction via inMaricopa
In 2019, the city of Maricopa real estate market finally came to a stable point. For the past 10 years we have been seeing nearly double-digit growth year after year with an average increase of 9.2% per year. Historically, a “normal” real estate market, with the ebbs and flows, has generally appreciated 4% per year, according to experts.
This year’s growth falls below that number. The median home price in Maricopa at the beginning of 2019 was $231,215, and at the end of 2019, the median price was $236,501, a growth of 2.3% over the year.
Of the homes sold in 2019, a large percentage sold during the summer months, when schools are out.
2018 was largely classified as a “strong seller’s advantage,” but by the beginning of 2019, we downgraded a notch to classify the Maricopa real estate market as a “slight seller’s advantage” and has remained there the remainder of the year.
