Ahwatukee home prices have stabilized for almost 2 years now

By
Real Estate Agent with Russ Lyon Sotheby's International Realty AZDRE# BR642230000

We are slowing down in our monthly average sales price per square foot rise year over year in Ahwatukee. In almost 2 years our percentage increase in average price per sq. ft. compared to each month of the previous year has been minimum indicating that the market has stabilized.
The last time we saw a high increase was in April 2014 where we saw home prices per sq. ft increase by 9% with an average selling price of about $142.70 per sq. ft. compared to $130.68 in April 2013 for homes priced $800,000 and below.
Since June 2014, our monthly average prices have been fluctuating but we have not seen any increase higher than 5.7%.

Ahwatukee YOY Change in Sales Price per Sq Ft April 2016

 

 

However in the luxury market, the story is quite different due to fewer homes in this price range. For homes priced between $800,000 and $1,500,000, the highest price increase was in August 2015 with a 100.8% increase average price per sq. ft. compared to August 2014.
May 2014 was also the highest we have witnessed for prices between $1,500,000 and higher at 116% increase.

Ahwatukee luxury homes YOY Change in Sales Price per Sq Ft April 2016

 

Ahwatukee Homes sold below $800,000

In April 2016, we had 161 homes that sold in Ahwatukee priced below $800,000 with 159 of them being normal sales and 2 being foreclosures.
Most of the homes were priced below $300,000, a total of 94,
39 were between $300,000 and $400,000,
23 between $400,000 and $500,000,
5 between $500,00 and $600,000,
0 between $600,00 and $800,000.

Same time last year we had more homes selling in April, a total of 188 homes were sold which was the highest number we ever saw in 2015 for any month

 

 

Ahwatukee Luxury Market priced $800,000 and above

Only 3 homes priced $800,000 and over sold in Ahwatukee in April of 2016. 2 of these homes were between $800,000 and $1,500,00.
One of the was located in Ahwatukee custom estates, a 4 bedroom 4100 sq. ft single level home. The other property was a 5 bedroom home, 4066 sq. ft. home located west of Desert Vista on almost 3 acres of land.

1 priced $2,000,000 and $3,000,000 sold in Summerhill. It was a 4 bedroom home, which was 7213 sq. ft. single level home on about 7 acres of land.

 

 

 

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This post was authored by Dorette Oppong-Takyi, a Phoenix Real Estate Consultant and Agent serving Ahwatukee, Phoenix, Tempe, Chandler, Gilbert, Mesa and Surrounding Areas

She can be reached on 480-442-0779, With her team, Dorette is able to ensure her clients have as smooth a transaction as possible

Want an idea of how much your home will sell in todays market?
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Rainmaker
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Joe Jackson
Keller Williams Capital Partners Realty - Columbus, OH
Clintonville and Central Ohio Real Estate Expert

Great charts and use of graphics, glad to see the  market has stabilized 

May 08, 2016 11:05 PM #1
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Rainmaker
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Dorette Oppong-Takyi

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