Ahwatukee AZ Real Estate Housing Market Report - March 2023
After increasing last month, the price per square foot of Ahwatukee homes decreased this month, going from $272/sf in February to $270/sf in March. This is back to where it started in January, and the lowest it has been since October of 2021.
After increasing 7 months in a row, the Ahwatukee days on market dropped, going from 83 DOM in February to 63 DOM this month. There should still be some demand for homes in Ahwatukee throughout the spring as the Arizona housing market ramps up for the busy season.
After decreasing last month, the number of new listings in Ahwatukee increased this month, going from 64 new listings in February to 82 in March. The number of new Ahwatukee listings are now -42.7% lower than they were in March of 2022.
After increasing for seven straight months, active listings in Ahwatukee have decreased the last 6 months, going from 299 in September of 2022 to 145 in March. With this decrease, the number of active Ahwatukee listings are still 29.5% higher than in March of 2022. March listings in Ahwatukee are now almost back down to where they were when inventory started increasing back in April of 2022.
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. Median home values in Ahwatukee have decreased an average of -2.5% since March of 2022.
Even with interest rates remaining around 6.25%, the demand from buyers looking to purchase homes in Ahwatukee should remain slightly higher than in a balanced market throughout the spring.
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