By SAM LAWMASTER, REALTOR Updated 11/06/2016 10:00 AM MST
Home sales in Laveen, AZ continue to outpace 2015 performance, according to recent data from the Arizona Regional Multiple Listing Service (ARMLS). The average sale price of a home in Laveen rose 9% to $214,500 in 2016 through October compared to $196,500 for the same reporting period last year. The number of sold listings increased as well, with 812 homes sold year to date, an 11% increase over 2015. The $200k-$250k sales price has seen the most sales this year.
The average days to sell a home has remained flat, at 54-55 days. It’s taking the same amount of time to sell a home in Laveen this year as it did in 2015. Historically low interest rates are helping fuel the market as home buyers have more purchasing power with the same income thanks to the reduced impact of interest on their monthly mortgage payments. This allows more of the monthly payment to go towards the principal.
There have been 1305 active homes for sale in Laveen through October, increasing 9.9% over this time last year, with the average list price of $235,500 increasing 9.8% for the period. Several new retail developments along Baseline Road have opened this year, ushering in a new era for Laveen.