Ahwatukee AZ Real Estate Housing Market Report - February 2023
After decreasing the last four months, the price per square foot of Ahwatukee homes has now increased this month, going from $270/sf in January up to $273/sf in February.
After increasing 6 months in a row, the Ahwatukee days on market went unchanged between January and February, remaining at 81 DOM this month. Ahwatukee DOM has almost tripled in the last 7 months. There should still be some demand for homes in Ahwatukee as we head into the spring as the Arizona housing market ramps up for the busy season.
After increasing last month, the number of new listings in Ahwatukee slightly decreased this month, going from 67 new listings in January to 63 in February. The number of new Ahwatukee listings are now -40.0% lower than they were in February of 2022.
After increasing for seven straight months, active listings in Ahwatukee have decreased the last 5 months, going from 299 in September to 172 in February. With this decrease, the number of active Ahwatukee listings are still 73.7% higher than in February of 2022. February listings in Ahwatukee are greater than they have been over the last two years.
There has been a lower-than-normal inventory of Ahwatukee homes for sale for quite some time. Homes that are listed in Ahwatukee continue to sell, but you can see it has been taking longer each month since July. Median home values in Ahwatukee have now decreased an average of -15.7% since February of 2022.
Even with interest rates remaining just below 7.0%, the demand from buyers looking to purchase homes in Ahwatukee should remain slightly higher than in a balanced market as we head into the spring. Sales are slowing and fewer people are listing their homes while inflation continues.
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