Ahwatukee AZ Real Estate Housing Market Report - April 2023

5/25/2023

Ahwatukee AZ Real Estate Housing Market Report - April 2023

After reaching an all-time high of $701,303 in May, the average sales price of homes in Ahwatukee had fluctuated up and down but has been on a downward trend. The average sales price of Ahwatukee homes decreased from $632,798 in March to $621,951 in April. This is the 4th year in a row that the average sales price in April has increased.

After decreasing last month, the price per square foot of Ahwatukee homes increased this month, going from $270/sf in March to $281/sf in April. This is the highest it has been since December of 2022.

After increasing 7 months in a row, the Ahwatukee days on market dropped for the second straight month, going from 83 DOM in February to 54 DOM this month. There still should be demand for homes in Ahwatukee throughout the spring during the Arizona housing market busy season.

After increasing the last two months Ahwatukee home sales decreased this month, going from 82 in March to 75 in April. Home sales typically start to increase this time of year, but this is the lowest number of Ahwatukee home sales in April since at least before 2018. With this decrease Ahwatukee home sales are down -38.0% from April of 2022.

After decreasing in February, the number of new listings in Ahwatukee increased for the second straight month, going from 64 new listings in February to 88 in April. The number of new Ahwatukee listings are now -34.8% lower than they were in April of 2022.

After increasing for seven straight months, active listings in Ahwatukee have decreased the last 7 months, going from 299 in September of 2022 to 146 in April. With this decrease, the number of active Ahwatukee listings are still 3.5% higher than in April of 2022. April listings in Ahwatukee are now almost back down to where they were when the housing 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 -11.7% since April 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.

>>Click Here To See All Current Ahwatukee Arizona Homes For Sale<<

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.

Ahwatukee real estate housing report - April 2023

If you’re considering selling your house, let my expertise guide you through the process to ensure a smooth transaction while navigating today's housing market.

If you're thinking of buying a home, connect with me to begin your journey to homeownership.

Whether you're ready to buy, sell (or both), or invest in East Valley real estate, reach out to me today so we can put your plans into motion. Being a trusted real estate professional, I can answer your questions and help you determine your next steps.

Feel free to reach out to me if you have any questions about home buying, selling, or investing in the Phoenix Metro or East Valley areas. Just give me a call or text at 602-295-6807 and I will be glad to help.

"Real Estate is not just a job for me, it's about making a difference in the lives of others."

Serving East Valley cities, including Chandler, Gilbert, Tempe, Mesa, Phoenix, Scottsdale, and Ahwatukee

Troy Erickson Realtor | 3175 W. Stephens Place, Chandler, AZ 85226 | 602-295-6807 | [email protected]

Troy Erickson has been blogging about Arizona real estate since 2006. He is a residential real estate agent who specializes in helping home buyers, sellers, and investors in Chandler and the East Valley. He has been recognized for his local market expertise, and frequently volunteers within his community.

Ahwatukee real estate | Troy Erickson Realtor | HomeSmart

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Tempe AZ Real Estate Housing Market Report - April 2023

5/24/2023

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Tempe AZ Real Estate Housing Market Report - April 2023

After increasing the last 2 months, the average sales price of Tempe homes has decreased this month, going from $532,043 in March to $520,809 in April. This is only the 2nd time that the average home prices have decreased in April in the last 5 years.

After increasing the last two months the average sold price per square foot of Tempe homes has decreased for the second straight month, going from $292/sf in February to $282/sf this month.

After Tempe days on market increased 8 months in a row Tempe DOM has now decreased 2 months in a row, going from 79 DOM in February to 61 DOM in April. Homes in Tempe are still selling reasonably fast, and sales should pick up through the spring, which is typically the time of the year when the Arizona housing market picks up.

After remaining the same for 3 months between January and March, Tempe home sales slightly increased this month. Home sales in Tempe went from 64 in March to 75 in April. Tempe home sales are now -31.8% lower than they were in April of 2022. This is the lowest number of home sales in April over the last 6 years.

The number of new Tempe listings has increased for the 4th straight month, going from 54 in December of 2022 to 89 this April. Even with these increases, new listings in Tempe are lower than they have been in April of the previous five years, and they are now -38.2% lower than in April of 2022.

After increasing for 5 straight months, the number of active listings has now decreased the last 7 months. Active listings have gone from 288 in September to 137 in April. Even with the decline, the number of active listings in Tempe are greater than they were in April of last year by 12.3%.

Median home prices have remained steady over the last 7 months while home inventory remains low. Homeowners are hesitant to sell their homes with such low mortgage interest rates because they will have to turn around and purchase a new home with mortgage rates double what they currently have.

Median home values in Tempe have actually decreased an average of -12.5% since April of 2022. Mortgage interest rates are hovering around 6.25%, and some experts say inflation is slowing. It looks like we are approaching a more balanced housing market in Tempe that should remain that way throughout the spring.

>>Click Here To See All Current Tempe Arizona Homes For Sale<<

For more detailed stats on the Tempe Housing Market, just click on the image below. Then call/text me when you are ready to buy or sell your next home.

Tempe real estate housing report - April 2023

"Real Estate is not just a job for me, it's about making a difference in the lives of others."

Serving East Valley cities, including Chandler, Gilbert, Tempe, Mesa, Phoenix, Scottsdale, and Ahwatukee

Troy Erickson Realtor | 3175 W. Stephens Place, Chandler, AZ 85226 | 602-295-6807 | [email protected]

Tempe real estate | Troy Erickson Realtor | HomeSmart

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Scottsdale AZ Real Estate Housing Market Report - April 2023

5/23/2023

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Scottsdale AZ Real Estate Housing Market Report - April 2023

After decreasing last month, the average sales price of Scottsdale homes saw an increase this month, going from $1,346,171 in March, to $1,392,839 in April. The average sales price of Scottsdale homes has fluctuated up and down every other month so far this year.

After decreasing last month, the average price of Scottsdale homes per square foot has increased this month, going from $436/sf in March to $445/sf in April. The average sold price per square foot in Scottsdale has only increased in 3 out of the last 10 months.

After remaining exactly the same in February and March, Scottsdale days on market decreased in April, going from 77 DOM last month to 71 DOM this month. Inventory remains low, reducing the number of homes sold.

After increasing the last 2 months, Scottsdale home sales have decreased this month. Scottsdale home sales have gone from 425 in March to 323 in April. Scottsdale home sales are now -34.2% lower than they were in April of 2022.

The number of new Scottsdale listings has decreased this month after slightly increasing last month. New Scottsdale listings went from 497 in March to 479 this month. This is usually the time of year we see an increase in new listings as we are in the busy housing market season. With this decrease new listings this month are lower than the number of new Scottsdale listings last April by -31.7%.

The number of active Scottsdale listings has decreased for the second month in a row, going from 1,461 in February to 1,407 in April. Active Scottsdale listings have remained fairly steady since July of 2022, and are now 71.8% higher than in April of last year.

Listings are still low overall and continue to drive demand. Many Scottsdale homeowners do not want to list their homes and give up those low mortgage interest rates for today's rates. Home sales and inventory in Scottsdale are still low compared to a balanced market.

Median home values in Scottsdale have decreased an average of -7.7% since April of 2022. With interest rates hovering around 6.25%, the number of buyers looking to purchase Scottsdale homes should be a little higher than the number of sellers this spring.

>>Click here to sell all current Scottsdale Arizona Homes For Sale<<

For more detailed stats on the Scottsdale Housing Market, just click on the image below. Then call/text me when you are ready to buy or sell your next home.

Scottsdale real estate housing report - April 2023

"Real Estate is not just a job for me, it's about making a difference in the lives of others."

Serving East Valley cities, including Chandler, Gilbert, Tempe, Mesa, Phoenix, Scottsdale, and Ahwatukee

Troy Erickson Realtor | 3175 W. Stephens Place, Chandler, AZ 85226 | 602-295-6807 | [email protected]

Scottsdale real estate | Troy Erickson Realtor | HomeSmart

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Phoenix AZ Real Estate Housing Market Report - April 2023

5/19/2023

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Phoenix AZ Real Estate Housing Market Report - April 2023

The average sales price of Phoenix homes has increased for the 3rd straight month after decreasing for 3 months in a row, going from $522,613 in January to $567,787 in April. The average sales price for Phoenix homes in April is still significantly lower than the all-time high of $621,488 that occurred in May of 2022.

The average sold price per square foot of Phoenix homes also increased for the 3rd straight month after decreasing for 9 months in a row. The average sold price per square foot of Phoenix homes has gone from $274/sf in January to $288/sf in April.

After increasing for 9 straight months, the Phoenix days on market decreased for the second month in a row. The days on market went from 81 DOM in February down to 62 DOM in April. Homes in Phoenix are still selling, but at a slower pace than the previous 4 years of frenzied activity.

Phoenix home sales decreased this month after increasing the previous two months, going from 1,065 in March to 960 in April. With this decrease, total Phoenix home sales for April are down -35.5% from April of 2022.

After slightly decreasing in February, new listings in Phoenix slightly increased for the 2nd month in a row, going from 1,029 in February to 1,083 in April. This is the lowest number of new Phoenix listings for April over the last five years (as this number should be closer to 1,800 right now). With this recent increase, the number of new Phoenix listings are still -36.8% lower than in April of 2022.

After increasing for the previous six months, the number of active Phoenix listings has now decreased 7 months in a row. Active listings have dropped from 3,728 in September of 2022 to 2,138 in April. Even with this decline, active Phoenix listings are higher this April than in April of the previous two years. The inventory of Phoenix homes is now higher than in April of last year by 23.4%.

Demand is still high due to the low number of homes on the market. Homeowners are locked into a very low mortgage interest rate and don't want to lose that when they sell.

With that said, median home values in Phoenix have decreased by -8.0% since April of 2022. This is the 6th straight month we have seen a year-over-year decrease. This has not happened in the previous 4 years. With interest rates remaining around 6.25%, the demand for homes will continue this spring.

>>Click Here To See All Current Phoenix Arizona Homes For Sale<<

For more detailed stats on the Phoenix Housing Market, just click on the image below. Then call/text me when you are ready to buy or sell your next home.

Phoenix real estate housing report - April 2023

"Real Estate is not just a job for me, it's about making a difference in the lives of others."

Serving East Valley cities, including Chandler, Gilbert, Tempe, Mesa, Phoenix, Scottsdale, and Ahwatukee

Troy Erickson Realtor | 3175 W. Stephens Place, Chandler, AZ 85226 | 602-295-6807 | [email protected]

Phoenix real estate | Troy Erickson Realtor | HomeSmart

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Mesa AZ Real Estate Housing Market Report - April 2023

5/18/2023

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Mesa AZ Real Estate Housing Market Report - April 2023

After decreasing for 4 months in a row, the average sales price of homes in Mesa has increased 2 consecutive months, going from $491,485 in February to $517,603 in April.

The average sales price per square foot of Mesa homes decreased after increasing last month. The price per square foot of Mesa homes went from $258/sf in March to $255/sf in April.

After increasing last month, the days on market for Mesa has decreased in April, going from 75 DOM in March to 68 DOM this month. Days on market for Mesa is relatively low compared to a more balanced housing market, but higher than it has been in the last 5 years for the spring.

After increasing the last two months, home sales in Mesa decreased in April, going from 568 in March to 464 this month. Total sales for April are the lowest they have been in that month since before 2018. Mesa home sales this month are lower than in April of last year by -23.9%.

After increasing last month, the number of new listings in Mesa decreased this month, going from 514 in March to 419 in April. With this decrease of new listings in Mesa, they are now -42.0% lower than they were in April of last year, and lower than any other April since at least before 2018.

After increasing for seven straight months, the number of active listings in Mesa has decreased for the 6th straight month, going from 1,668 in October to 949 in April. Even with the decline, this is the highest inventory in April over the last 3 years.

This decline in active listings in Mesa signifies that fewer homeowners are putting their homes up for sale due to the higher interest rates. Even with the recent decline, the number of active listings is still 29.5% higher than they were in April of 2022.

Demand is still high and the number of homes for sale is low. This is partially due to inflation as well as higher mortgage interest rates. Median home values in Mesa have decreased an average of -5.5% since April of 2022. This is the 5th decrease in a row. Prior to that we had not seen a decrease in at least 4 years. With interest rates ranging right around 6.25%, fewer homeowners are putting their homes up for sale.

>>Click Here To See All Current Mesa Arizona Homes For Sale<<

For more detailed stats on the Mesa Housing Market, just click on the image below. Then call/text me when you are ready to buy or sell your next home.

Mesa real estate housing report - April 2023

"Real Estate is not just a job for me, it's about making a difference in the lives of others."

Serving East Valley cities, including Chandler, Gilbert, Tempe, Mesa, Phoenix, Scottsdale, and Ahwatukee

Troy Erickson Realtor | 3175 W. Stephens Place, Chandler, AZ 85226 | 602-295-6807 | [email protected]

Mesa real estate | Troy Erickson Realtor | HomeSmart

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Gilbert AZ Real Estate Housing Market Report - April 2023

5/17/2023

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Gilbert AZ Real Estate Housing Market Report - April 2023

The average sales price of Gilbert homes has increased for two months in a row, going from $589,315 in February to $648,835 this month. This is the second April in a row that sales prices in Gilbert have increased.

After increasing in March, the average sold price per square foot decreased this month. The sold price per square foot decreased from $273/sf in March to $271/sf in April. The overall trend has been downward since June of 2022. The average sold price per square foot this month is now less than it was in April of 2022 by -$28/sf. This is the 5th month in a row the sold price per square foot has been lower than the same month the previous year, and that had not happened prior to that since before 2020.

Gilbert days on market has now decreased for two months in a row, going from 87 DOM in February to 72 DOM in April. The Gilbert DOM is more than 3 times as high as it was in April of 2022. Homes in Gilbert Arizona are still selling, but not quite at the frenzied pace they were in 2021 and midway through 2022.

Things should be picking up in Arizona now that it is springtime, but the increase in mortgage interest rates are keeping Gilbert homeowners from listing their homes.

After seeing an increase in Gilbert home sales for two straight months, home sales decreased this month, going from 327 in March to 291 in April. With this decrease, Gilbert home sales are still -1.3% lower than in April of 2022. April home sales in Gilbert are significantly lower than they have been in April over the last 5 years, including when we were going through the Covid-19 pandemic.

The number of new listings in Gilbert slightly decreased this month after increasing in March, going from 294 last month to 284 in April. This is the lowest number of Gilbert listings in April over the last 5 years. The number of new Gilbert listings in April is now -38.0% lower than the number of new listings in April of last year.

Home inventory increased in Gilbert between March and September but has now decreased the last 7 months. Gilbert inventory almost tripled between March and September, but after declining over the last 7 months, inventory has gone back down from a high of 1,049 in September of 2022 to 563 in April. Even though inventory is decreasing, the number of active listings in Gilbert are still 43.3% higher than in April of last year.

Gilbert listings have caught up with demand and the rapid increase in home prices has now started to level off. Median home values in Gilbert have decreased an average of -8.5% since April of 2022 as mortgage interest rates remain around 6.25%. This is the 4th month in a row there has been a decrease in home values year-over-year. Prior to the last 4 months there was not a decrease in Gilbert home values in the same month year-over-year since before 2019. The demand for Gilbert housing this spring is still higher than the inventory of homes for sale.

>>Click Here To See All Current Gilbert Arizona Homes For Sale<<

For more detailed stats on the Gilbert Housing Market, just click on the image below. Then call/text me when you are ready to buy or sell your next home.

Gilbert real estate housing report - April 2023

"Real Estate is not just a job for me, it's about making a difference in the lives of others."

Serving East Valley cities, including Chandler, Gilbert, Tempe, Mesa, Phoenix, Scottsdale, and Ahwatukee

Troy Erickson Realtor | 3175 W. Stephens Place, Chandler, AZ 85226 | 602-295-6807 | [email protected]

Gilbert real estate | Troy Erickson Realtor | HomeSmart

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Chandler AZ Real Estate Housing Market Report - April 2023

5/16/2023

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Chandler AZ Real Estate Housing Market Report - April 2023

The average sales price of Chandler homes increased in April, after decreasing in March, going from $599,307 in March to $625,978 this month. Prices have fluctuated up and down every month since November of 2022, with a slight increasing trend.

After remaining the same in February and March, the average sales price per square foot of Chandler homes increased in April. The average sales price increased from $278/sf in March to $283/sf in April. This price is lower than the price per square foot of Chandler homes in April of 2022, by $26/sf.

The days on market has decreased for the second month in a row, going from 76 DOM in February to 63 DOM for April. Homes in Chandler are still selling, but they have certainly slowed down over the last 11 months.

This is the time of season where the housing market starts to pick up throughout the spring.

Chandler AZ homes for sale | Troy Erickson Realtor

After increasing the last 2 months, Chandler home sales decreased in April, going from 239 in March to 204 this month. The number of Chandler home sales is still lower than in April of last year by -34.6%. It is not typical for home sales to decrease this time of year, and they are the lowest home sales have been in April since before 2018.

The number of new listings in Chandler increased for the second straight month, going from 195 in February to 232 this month. With this increase, new listings are still down -41.3% from April of last year. This is the lowest number of new listings in April since before 2018.

After increasing for eight straight months, more than doubling from 313 in January to 773 in September of 2022, active listings in Chandler have now decreased 7 months in a row and are down to 354 for April. With this decrease, active listings are now lower than the same month last year for the first time in 13 months. With this latest decrease, active listings in Chandler are less than last year's April listings by -3.3%.

The decline in the number of listings in Chandler over the last 7 months is another sign that the housing market is slowing. Fewer homeowners are putting their homes on the market partially because they are locked in at an interest rate lower than 3.5% and don't want to have to buy a home when interest rates are now around 6.5%.

Home prices have been holding steady the last 7 months, and inflation and higher mortgage rates have slowed buyer demand. Median home values in Chandler have decreased an average of -6.6% since April of 2022. This is the 4th year-over-year decrease in a row after seeing nothing but increasing home prices from January 2019 through December 2022.

Mortgage interest rates have been holding steady the last few weeks right around 6.35%, and some experts say inflation is slowing. It looks like we are approaching a more balanced housing market in Chandler that should remain that way as we enjoy the spring.

>>Click Here To See All Current Chandler Arizona Homes For Sale<<

For more detailed stats on the Chandler Housing Market, just click on the image below. Then call/text me when you are ready to buy or sell your next home.