Ahwatukee AZ Real Estate Housing Market Report - May 2021
The price per square foot increased for the fourth straight month, from $240/sf to $249/sf. Days on market decreased from 29 down to 22 for May, after increasing from 26 to 29 DOM from March to April. The DOM is at an all-time low, which means demand for homes in Ahwatukee is high, and homes are still selling fast.
The number of new listings decreased from 153 last month to 135 for May, and is the second month in a row there has been a decrease in new listings for Ahwatukee. This shows that fewer home owners are listing their homes for sale, which increases competition. At 221, the number of active listings still remains significantly lower than in May of last year, at -29.4%. We simply need more Ahwatukee listings due to the high demand from buyers.
The lack of listings continues to drive demand and home prices higher. Median home values in Ahwatukee have increased an average of 23.6% since May of 2020, which is amazing growth. With interest rates hovering around 3.0%, the demand from buyers looking to purchase should remain high early in 2021, which is typically not the case for this time of year.
If you're thinking of selling, many buyers will be eager to find a home just like yours due to the low inventory of available homes for sale. Reach out to me today to make sure you can get your house in on the action.
If you're thinking of buying a home, more homes are being listed for sale, and interest rates remain at historically low rates. Being a trusted real estate professional, I can answer your questions and help you determine your next steps.