MESA, AZ — During the fourth quarter 2005, there were 1,280 resale homes recorded sold in Pinal County while it stood at 1,550 for the third quarter 2005 and 1,135 sales in fourth quarter 2004. For 2004, there were 3,790 sales, while there were 6,050 sales in 2005. In the resale market of Maricopa County, there were 110,835 sales for 2005 and 102,115 sales for 2004.
The Pinal resale housing market has been increasingly popular for households seeking affordable housing that is increasingly difficult to find in Maricopa County. For fourth quarter 2005, the median home price in Pinal County was $216,500, while it was $213,500 in the third quarter and $145,000 for a year ago. For the fourth quarter, the median home price in Pinal County was 83 percent of the $260,000 for fourth quarter in Maricopa County. The average 30-year mortgage for fourth quarter 2005 was 5.9 percent. Based on an 85 percent loan-to-value, the monthly mortgage payment for the median price home in Pinal County would be $1,090, while it would be $1,310 for a home in Maricopa County.
In 2004, the median resale price in Pinal County was $137,500 and increased 38 percent to $189,000 in 2005. In Maricopa County, the median price also increased 38 percent from $174,815 in 2004 to $240,500 in 2005. The median square footage for a resale home in Pinal County was 1,510 square feet, while it was 1,640 square feet in Maricopa County.
GREATER PHOENIX REAL ESTATE MARKET
Quarterly Resale Home Sales and Median Prices
Selected Cities in Pinal County
| City | First Quarter 2004 | First Quarter 2005 |
| Resales | Median Price | Resales | Median Price |
| Apache Junction | 285 | $138,000 | 545 | $169,900 |
| Arizona City | 40 | 86,190 | 70 | 95,400 |
| Casa Grande | 135 | 98,500 | 245 | 132,750 |
| Coolidge | 25 | 69,000 | 30 | 65,000 |
| Eloy | 15 | 73,000 | 15 | 72,500 |
| Florence | 10 | 81,800 | 25 | 130,500 |
| Maricopa | 25 | 152,700 | 85 | 178,770 |
| Queen Creek | 60 | 129,000 | 270 | 173,250 |
| San Manuel | 20 | 48,450 | 35 | 59,000 |
| Tucson (Saddlebrook) | 60 | 272,500 | 75 | 339,750 |
| Pinal County | 700 | $128,700 | 1,435 | $162,000 |
| City | Second Quarter 2004 | Second Quarter 2005 |
| Resales | Median Price | Resales | Median Price |
| Apache Junction | 400 | $140,000 | 520 | $193,500 |
| Arizona City | 50 | 85,250 | 100 | 105,900 |
| Casa Grande | 145 | 104,750 | 295 | 152,000 |
| Coolidge | 25 | 71,000 | 45 | 81,500 |
| Eloy | 20 | 55,700 | 40 | 71,460 |
| Florence | 10 | 79,000 | 40 | 126,500 |
| Maricopa | 25 | 151,950 | 120 | 222,500 |
| Queen Creek | 105 | 139,950 | 425 | 205,840 |
| San Manuel | 15 | 62,900 | 30 | 80,420 |
| Tucson (Saddlebrook) | 105 | 258,000 | 105 | 353,500 |
| Pinal County | 945 | $134,000 | 1,790 | $186,000 |
| City | Third Quarter 2004 | Third Quarter 2005 |
| Resales | Median Price | Resales | Median Price |
| Apache Junction | 375 | $145,000 | 410 | $222,375 |
| Arizona City | 40 | 88,750 | 95 | 134,450 |
| Casa Grande | 170 | 115,900 | 310 | 165,900 |
| Coolidge | 25 | 74,900 | 45 | 83,200 |
| Eloy | 15 | 55,250 | 40 | 87,000 |
| Florence | 20 | 78,000 | 40 | 186,100 |
| Maricopa | 50 | 155,000 | 115 | 245,450 |
| Queen Creek | 190 | 141,000 | 385 | 235,000 |
| San Manuel | 15 | 67,000 | 15 | 75,355 |
| Tucson (Saddlebrook) | 70 | 279,000 | 55 | 364,900 |
| Pinal County | 1,010 | $137,900 | 1,550 | $213,500 |
| City | Fourth Quarter 2004 | Fourth Quarter 2005 |
| Resales | Median Price | Resales | Median Price |
| Apache Junction | 420 | $157,365 | 360 | $220,000 |
| Arizona City | 85 | 87,540 | 95 | 145,000 |
| Casa Grande | 200 | 128,000 | 210 | 175,000 |
| Coolidge | 35 | 65,000 | 35 | 90,250 |
| Eloy | 20 | 78,500 | 30 | 80,000 |
| Florence | 10 | 77,500 | 35 | 161,000 |
| Maricopa | 55 | 165,000 | 80 | 252,500 |
| Queen Creek | 185 | 151,000 | 310 | 243,000 |
| San Manuel | 30 | 66,800 | 25 | 83,500 |
| Tucson (Saddlebrook) | 60 | 295,000 | 55 | 389,950 |
| Pinal County | 1,135 | $145,000 | 1,280 | $216,000 |