Homes sold in Buckeye from Jan. 1 to June 25 1,168
Welcome to Buckeye! If someone asked me to describe the Buckeye real estate market over the last year, except for higher interest rates, it went through its normal cycle — until this summer season. Most past years, during the winter months, inventory of homes for sale would build up and prices would drop a bit. During the summer months, inventory would be low, and prices would increase as buyers were out house shopping in June, July and August. This year, at the time of press, home inventory is high and prices are staying flat, with maybe a small increase. From January through the end of June, prices had a nice steady climb. The average price of a home sold in Buckeye in January was $437,127 and in June it was up to $448,387. The housing market has seen a lot of ups and downs over the last few years. In 2021, homes were like toilet paper at the beginning of the pandemic. There was no inventory and when the buyer saw a house they liked, they would buy it immediately, sometimes paying a premium.
REAL ESTAT E MARKET REC AP
Inventory started very low at the beginning of 2022, but throughout the year, inventory started to increase at an alarming rate. In late 2022 there were many homes on the market. Last year, we saw the Fed raise interest rates several times. The Buckeye housing market, as with the market in the entire Phoenix metro area, was categorized as a “slight seller’s advantage” last January. The local market peaked in June and started cooling back down. Currently, we are very close to a neutral market. This year, Buckeye residential real estate inventory has increased to levels higher than the same months in the past years. For sellers, there are buyers out there, but they have a nice selection of homes from which to choose. The seller’s home should show like a model home — the nicer the backyard, the better. The home must be listed at market price. There is no more listing a home high and getting multiple offers. For buyers, depending on the number of days the home has been listed, asking for some concessions may be a good move.
$200,020 $2.5M
LEAST EXPENSIVE IN HOA 5 bed/3 bath, 1,980-sqft. home in Westpark, 3410 S. 256th Dr. Listed for $499,900, sold for $200,020. Listing agent Noe Jiminez notes price was discounted in friendly agreement between seller and buyer.
MOST EXPENSIVE IN HOA 4 bed/3.5bath, 5,091-sqft. home in Verrado, 3557 N. Granite Ridge Road. Sold for $2.5 million. Luxury Spanish colonial estate on 12th hole of Verrado Golf Club at base of White Tank Mountains.
InBuckeye.com/NewResidentGuide • New Resident & Visitor Guide 2024 37
36 New Resident & Visitor Guide 2024 • InBuckeye.com/NewResidentGuide
Powered by FlippingBook