Ahwatukee AZ Real Estate Housing Market Report - November 2022
After increasing for the first six months of this year, the price per square foot of Ahwatukee homes has now decreased in four of the last five months, dropping from a high of $321/sf in June back down to $285/sf in November.
The Ahwatukee days on market has increased four months in a row, going from 28 DOM in July to 64 DOM in November. Although it has increased from the all-time low of 22 DOM in August of 2021, 64 DOM is still a low number. There should still be some demand for homes in Ahwatukee as we head into the winter months, which is the slower season for the Arizona housing market each year.
After increasing in September, the number of new listings in Ahwatukee has now decreased for the second straight month, going from 116 new listings in September to 59 this month. The number of new Ahwatukee listings are now -54.3% lower than they were in November of 2021. This is now the lowest number of new listings over the last five years.
After increasing for seven straight months, active listings in Ahwatukee have decreased the last two months, going from 299 in September to 252 in November. With this decrease, the number of active Ahwatukee listings is 38.5% higher than in November of 2021. Ahwatukee monthly listings in November are greater than November in previous years since November of 2018.
There has been a lower-than-normal inventory of Ahwatukee homes for sale for quite some time, but inventory has rapidly increased in the last seven months, although it has dropped over the last two months. Homes that are listed in Ahwatukee continue to sell, but you can see it slowing down. Median home values in Ahwatukee have increased an average of 1.8% since November of 2021. Even with interest rates remaining around 6.5%, the demand from buyers looking to purchase homes in Ahwatukee should remain higher than usual as we head into the winter, but it is slowing as fewer people are listing their homes and inflation continues.
For more detailed stats on the Ahwatukee Housing Market, just click on the image below. Then call/text me when you are ready to buy or sell your next home.
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.