Pinal County Cools

Pinal County's resale market continued to show signs of cooling during the second quarter of this year, with the median resale price dipping to $211,000, compared with $211,500 in the first quarter of 2006. The market peaked at $220,000 in the last quarter of 2005.

The information was released by the Arizona Real Estate Center at ASU. Sales volume inched upward by 6.3 percent in the second quarter 2006 to 1,180 homes, up from 1,100 in the first quarter.

The new home market in Pinal County has also cooled off, and builders are offering huge incentives to both buyers and Realtors to move the inventory. "Right now, if you want to live in Pinal County, it's economically better to look at new homes," said Jay Butler, director of the real estate center.

Colleen Bechtel, an associate broker with Keller Williams Legacy One, said resale home buyers are now typically making offers lower than the asking price and want the seller to pay some of the closing costs. More...