By Gretchen Pahia
(Pinal County, AZ) - After three weeks of increases, the average rate on a 30-year fixed mortgage fell to 5.70% in the Valley and home sales in Pinal County are still going strong.
According to Jill Gilbo, HomeSmart Realtor who works in the region, she says things are showing no signs of slowing down in the area. “Pinal County is where the new growth is now in Arizona, with land still available to build new homes, bringing in more businesses and employment.” Gilbo shares that one of the main reasons there is major growth in the area is because business operating costs in Pinal County are significantly lower than in other surrounding states such as California.
Many large home builders from the valley are purchasing land in Pinal County right now to build new homes and subdivisions and the area population has grown over 2.8% since 2021 and is expected to grow to 3.34% by 2024.
Gilbo adds there are many things drawing people to call Pinal County home. “I am seeing more people are moving to this part of the Valley for better selection, amenities, schools, and pricing. Also, most homes and neighborhoods are newer out in Pinal County, compared to the rest of the state. There is great hiking, amazing scenery, and great golf courses & golf communities too. Phoenix-Gateway Airport is easy to access for Pinal County as well.”
The median home price right now in Pinal County is $417,000 and that includes several new builds along private golf course communities. There is a shift right now. There are more homes and less buyers, and experts say over-asking price offers are expected to slow down in the coming months. Gilbo shares that in addition to the lower prices, Pinal County is becoming very convenient to everything else in the Metro-Phoenix area. “Most Pinal County cities are only minutes from Mesa, Gilbert, Chandler, Queen Creek, and San Tan Valley. The loop 202 and the new loops 24 and 303, along with the I-10 corridor which all connect out to the west valley, Scottsdale, and Phoenix.”
You can keep up to date with home sales data online with the Arizona Association of Realtors.