Is this the hottest market you’ve ever seen in Pinal County?
This is probably the hottest market in Pinal County or even Arizona as a whole since 2005-06! Inventory levels are at an all-time low. Every decent property is getting multiple offers, most above list price. Even the new builds can’t keep up with demand. There are buyers on waiting lists. We are starting to see lotteries coming back. It is insane right now.
Which are the most in-demand cities and neighborhoods?
I’d say the most in-demand cities at the moment are Casa Grande and Maricopa. However, Arizona City and Coolidge have also seen a huge surge in activity and price jumps. Vacant land is also starting to sell again, and those prices are rising as well.
How much are low interest rates affecting demand?
Low interest rates may have started this buying frenzy, but that is not the only factor. There is an all-time low supply and a high demand that the housing market is having a hard time keeping up with. There seems to be an influx of out-of-state buyers coming in with cash and then there are current residents who may be first-time homebuyers or ready to upsize or downsize.
Are investors a significant force in the current market?
Investors are certainly a factor that is helping drive demand and affects the way buyers have had to consider what types of offers to present. With so many investors and buyers coming from out of state with either cash or a significant amount of money down, buyers really need to make sure they have a strong offer to present.
Do you have any tips for buying a home in Pinal County?
Save up as much as you can for a down payment. If you are getting a loan, get prequalified with a mortgage lender before starting your search. Try and be patient if your situation allows, but also be ready to jump when your perfect home is listed. Gone are the days of being able to offer under list price and ask for help with closing costs, at least for now. A good Realtor with excellent communication and negotiation skills goes a long way and can be the difference between getting your contract accepted or not.