Homes for sale in Casa Grande Arizona
There are 143 homes for sale in Casa Grande Arizona. This only includes single family residence, and does not include active adult communities. Of the 143 homes for sale in Casa Grande Arizona 118 of them are for sale in 85122, and this is 82.5% of the homes for sale.
In the last month 76 homes sold in Casa Grande Arizona, and 64 of them sold in 85122. This would be 84% of the sold transactions for 85122. We can clearly say majority of the homes sold in Casa Grande AZ are in 85122. Then let's isolate this to 85122.
There are 118 homes available for sale in Casa Grande Arizona, and 64 homes sold in 85122. Without even a calculator we are just shy of 2 months of inventory. How do we come up with this number? If we continue at the same rate of sales, and we do not add in anymore inventory we will run out of homes in less than two months. 64 x 2 would give us 128 homes, and as you can see 118 is less than 128.
Now is this normal or a buyers market? The answer is no to both of them. A normal market would be 4 to 5 months of homes for sale, and anything over 5 months would be a buyers market. This leaves us with only one market left, and that would be a seller's market. Anything less than 4 months is a sellers market. We have been around 1.5 to 2 months of inventory for most of the this year. This is why we have multiple offers on homes, we are bidding up the home prices, and buyers are wishing they bought prior to this.
When will the market become a neautral marker in Casa Grande? My guess is in 12 to 18 months. We get this from knowing what the medium household income is in Casa Grande AZ, and we also get it from knowing what historical rents are. A home buyer can only afford to pay a max of X per month based on the medium household debt and income ratios, and an investor will only buy a home that yields them X% back per year on their investments. You mix these two numbers kind of together and you will have your answer.