Ahwatukee AZ Real Estate Housing Market Report - May 2022

6/23/2022

Ahwatukee AZ Real Estate Housing Market Report - May 2022

After decreasing last month, the average sales price of homes in Ahwatukee greatly increased in May. The average sales price increased from $646,948 in April to $701,285 in May. This was the largest increase in the average sales price in Ahwatukee since March of 2021.

The price per square foot of Ahwatukee homes, however, has increased for the fifth straight month, going from $273/sf in December of 2021 to $313/sf in May. The average sold price per square foot of Ahwatukee homes has increased 14 times out of the last 16 months.

After decreasing to 24 days on market last month, the Ahwatukee days on market increased to 27 in May. Although it has increased from the all-time low of 22 DOM in August of 2021, 27 DOM is still a very low number, and it is obvious that the demand for homes in Ahwatukee remains high in 2022.

Ahwatukee AZ homes for sale | Troy Erickson Realtor

After increasing for three straight months, Ahwatukee home sales have decreased for the second time in 2022. Home sales in Ahwatukee decreased from 121 in April to 108 in May. This is the lowest number of Ahwatukee home sales in May over the last five years. With this decrease, Ahwatukee home sales are now down -28.5% from May of 2021.

After the number of new listings in Ahwatukee increased for three straight months, new listings have dropped for the second straight month, going from 143 new listings in March to 126 in May. The number of new Ahwatukee listings are now -8.0% lower than they were in May of 2021.

After decreasing for three months, active listings in Ahwatukee have now increased for the third straight month, going from 99 in February to 150 in May. With this increase, the number of active Ahwatukee listings is still -2.6% lower than in May of 2021. It is obvious that Ahwatukee could use more listings due to the continued high demand from buyers.

There has been a lower-than-normal inventory of Ahwatukee homes for sale for quite some time now, and homes that are listed in Ahwatukee continue to sell very fast. Median home values in Ahwatukee have increased an average of 27.6% since May of 2021, which is amazing growth. With interest rates increasing to just above 5.25%, the demand from buyers looking to purchase homes in Ahwatukee should remain high into the summer of 2022.

>>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 - May 2022

When you're ready to buy, sell (or both), or invest in East Valley real estate, reach out to me so we can put your plans into motion. With low mortgage rates leading the way, it's a great time to take advantage of your position in today's market.

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.

Homes for sale in Ahwatukee, AZ | Troy Erickson Realtor

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.

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Tempe AZ Real Estate Housing Market Report - May 2022

6/16/2022

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Tempe AZ Real Estate Housing Market Report - May 2022

The average sales price of Tempe homes increased for the sixth straight month, moving from $604,168 in April to a new all-time high of $612,663 in May.

After remaining the same in February and March, at $303/sf, the average sold price per square foot of Tempe homes increased for the second straight month reaching a new all-time high of $330/sf in May. This is the fifth straight month the average sold price per square foot in Tempe, Arizona has increased.

After increasing to 40 days on market in March, Tempe days on market has decreased two months in a row, as is now at a new all-time low of 20 DOM for May. This shows that homes in Tempe are selling faster than they ever have before.

After increasing last month, Tempe home sales have decreased in April. Home sales in Tempe have decreased from 127 in March to 111 in April. With this decrease, Tempe home sales are now -15.3% lower than in April of 2021. The low number of listings continues to impact sales, even though we are into the spring when home sales in Tempe usually increase.

The number of new Tempe listings increased from 121 in March to 142 in April. This was the third straight increase after decreasing or remaining the same the previous five months in a row. New listings in Tempe continue to be the lowest since before 2018, and for this April they are -9.0% lower than in April of 2021.

The number of active listings dropped for the sixth straight month, from 226 in October of 2021 down to 120 in April of 2022. The number of active listings in Tempe are lower than they were in April of last year by -31.0%.

Active listings in Tempe are lower than they ever have been historically, and the lack of homes for sale continues to drive demand and home prices higher. We can expect home values in Tempe to continue to increase as long as the inventory remains low.

Median home values in Tempe have increased an average of 25.6% since April of 2021. Even with interest rates moving slightly above 5.25%, there will still be more buyers looking to purchase a home in Tempe throughout the first months of 2022.

>>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.

"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]

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Scottsdale AZ Real Estate Housing Market Report - May 2022

6/15/2022

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Scottsdale AZ Real Estate Housing Market Report - May 2022

Scottsdale's average sales price dropped this last month for the first time since January of this year, going from an all-time high of $1,497,968 in April to $1,430,827 in May.

At the same time, the average sold price per square foot for Scottsdale homes continues to increase and has gone from $477/sf in April to $483/sf in May. The average sold price per square foot in Scottsdale has increased or remained the same in 22 out of the last 23 months.

After slightly increasing from 31 to 32 DOM between March and April, Scottsdale days on market dropped in May down to 28. The Scottsdale DOM was as high as 76 in January of 2021, so being at 28 DOM now is extremely low, especially for homes in this price point. The low DOM shows that homes in Scottsdale are still very much in demand, and they are selling very quickly.

Scottsdale AZ homes for sale | Troy Erickson Realtor

Scottsdale home sales remained pretty much the same as last month, after seeing a decrease from March to April. Home sales in Scottsdale went from 491 last month to 492 in May. Scottsdale home sales this May were much lower than in May of 2019 and 2021. Scottsdale home sales are now -22.2% lower than they were in May of 2021.

The number of new Scottsdale listings increased for the fifth straight month after decreasing for the eight months prior, going from 328 in December of 2021 to 756 in May (more than doubling). At 756, this is the highest number of new Scottsdale listings for any month since January of 2019. New listings this May are higher than in May of 2021 by 13.9%. This is the first time new listings are greater than the same month in the previous year since July of 2021.

The number of active Scottsdale listings has increased for the second consecutive month going from 704 in March to 951 in May. Active Scottsdale listings are still down -3.5% from May of last year. Home inventory of Scottsdale homes has increased in three out of the last four months as it looks like there may be a shift happening in the housing market.

The lack of listings continues to drive demand and continues to drive an upward trend in Scottsdale home prices, although things may be slowing down. Home sales in Scottsdale are still occurring faster than ever, while home inventory is starting to increase.

Median home values in Scottsdale have increased an average of 16.9% since May of 2021, which is still good, but below the 20-30% increase we have been seeing over the last year or two. Even with interest rates increasing to above 5.25%, there still should be more buyers looking to purchase a Scottsdale home as we head into summer of 2022.

>>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 - May 2022

Homes for sale in Scottsdale, AZ | Troy Erickson Realtor

"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 Realtor | Scottsdale homes for sale

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Phoenix AZ Real Estate Housing Market Report - May 2022

6/10/2022

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Phoenix AZ Real Estate Housing Market Report - May 2022

The average sales price of Phoenix homes increased again this month, going from $618,420 in April to a new all-time high of $621,356 in May. The average sales price of Phoenix homes has increased in 12 out of the last 16 months.

The average sold price per square foot of Phoenix homes continues to increase for the fifth straight month, going from $273/sf in December of 2021 to $317/sf in May. The Phoenix average sold price per square foot has only decreased twice in the last 27 months.

The Phoenix days on market decreased for the fourth straight month after increasing for seven straight months. The days on market has dropped from 34 in January down to 24 DOM in May. The DOM to sell a home in Phoenix is still very low, considering a balanced market would expect to see an average DOM closer to 90.

Phoenix AZ homes for sale | Troy Erickson Realtor

Phoenix home sales have decreased the last two months, after increasing for two straight months. Home sales in Phoenix have gone from 1,558 in March to 1,327 in May. This is typically the time of year where we would see an increase in home sales, so this is unusual and may be a sign that the housing market is shifting. With this decrease in Phoenix homes sold, total home sales for May are down -16.5% from May of 2021.

After decreasing last month, new listings in Phoenix have increased from 1,714 in April to 1,931 in May. This is the highest number of new listings since March of 2020 (when Covid shut down our economy). New listings in Phoenix have now increased in four out of the last five months. With this recent increase, the number of new Phoenix listings are 11.5% higher than in May of last year. New listings decreased in May the two previous years.

After slightly decreasing in March, the number of active Phoenix listings has now increased the last two months. Active Phoenix listings have now increased in three out of the last four months, going from an all-time low of 1,632 in January of this year to 2,001 in May. The inventory of Phoenix homes is now higher than in May of last year by 2.5%. This is the first time this number has been in the positive since May of 2019. The lack of listings continues to drive demand and has home prices trending higher, but this is changing. As long as there is a shortage of homes for sale, and demand remains high, home values in Phoenix will continue to increase. However, with the increase in listings and decrease in home sales, this should slow down the pace.

With that said, median home values in Phoenix have increased an average of 25.0% since April of 2021. Even with interest rates moving above 5.25%, there will still be more buyers looking to purchase Phoenix homes as we head into the summer of 2022.

>>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 - May 2022

Homes for sale in Phoenix, AZ | Troy Erickson Realtor

"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]

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Mesa AZ Real Estate Housing Market Report - May 2022

6/9/2022

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Mesa AZ Real Estate Housing Market Report - May 2022

The average sales price of homes in Mesa has increased for the second straight month, going from $552,536 in April to a new all-time high of $572,243 in May. The average sales price of Mesa homes has now increased in 15 out of the last 18 months.

The average sales price per square foot of Mesa homes has either remained the same or has continued to climb for 29 consecutive months now. The price per square foot of Mesa homes increased from $283/sf in April to $294/sf for May. This is a significant increase of $64/sf since May of 2021.

After increasing for two consecutive months, the days on market for Mesa has decreased for the fourth straight month, going from 32 DOM in January to 21 DOM in May. The days on market is still extremely low for Mesa, and that means that homes in Mesa, AZ will still be in high demand as we head into the summer of 2022.

Mesa AZ homes for sale | Troy Erickson Realtor

After seeing a significant decrease in April, Mesa home sales saw a slight increase in May. Home sales in Mesa went from 611 in April to 625 in May. After reaching the largest number of monthly sales since September of 2020 in March, total sales for April and May have been less than in 2019 and 2021. Mesa home sales this month are lower than in May of last year by -5.9%.

After decreasing last month, the number of new listings for May saw a fairly decent increase, going from 723 in April to 790 this May. This is the largest number of new listings in a month since March of 2019. With this increase of new listings in Mesa, they are now 7.8% higher than they were in May of last year. The increase in inventory may just be because we are in the high season for home sales, or it may mean that there is a shift occurring in the housing market.

There is still a lack of inventory based on demand, and that will only help home prices continue their upward trend. After decreasing for five straight months, the number of active listings in Mesa has increased for two straight months, going from 669 in March to 796 in May.

Active listings in Mesa have been trending higher the last two months, and the number of active listings is now 20.1% higher than they were in May of 2021.

The number of listings in Mesa is still low, and the lack of listings continues to drive demand and home prices higher. Median home values in Mesa have increased an average of 25.8% since May of 2021. With interest rates moving just over 5.25%, there still should be more buyers looking to purchase a home in Mesa throughout the summer of 2022.

>>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 - May 2022

Homes for sale in Mesa, AZ | Troy Erickson Realtor

"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]

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Gilbert AZ Real Estate Housing Market Report - May 2022

6/8/2022

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Gilbert AZ Real Estate Housing Market Report - May 2022

The average sales price of Gilbert homes has increased for the fourth month in a row, going from $701,995 in April to $719,659 for May, and reaching a new all-time high. Average sales prices in Gilbert have increased in 21 out of the last 25 months.

After decreasing in January, the average sold price per square foot of Gilbert homes has also increased for the fourth straight month, going from $299/sf in April to $305/sf in May. This is just another sign that home values continue to increase, as this is the 21st increase in the last 23 months.

After increasing or remaining the same for 10 months, between April of 2021 and February of 2022, Gilbert days on market has declined for the third straight month, going from 30 DOM in February down to 20 DOM for May. This is a sign that there seems to be no slowing down in the Gilbert housing market. The Gilbert DOM is extremely low, which means that homes in Gilbert Arizona are still selling very fast!

Gilbert AZ homes for sale | Troy Erickson Realtor

After increasing in February and March, home sales in Gilbert saw a significant decline in April and May, going from 444 in March down to 350 in May. With this decrease, Gilbert home sales are now -20.5% lower than in May of 2021. This is the time of year when home sales typically increase as we head into the high buying season. May home sales in Gilbert are lower than they were in May of the last three years, including when we were going through the Covid-19 pandemic.

The number of new listings in Gilbert increased for the third straight month after decreasing in February, going from 372 in February to 540 in May. With the increase in May, this is the highest number of new Gilbert listings since August of 2020. The number of new Gilbert listings in April is now 16.6% higher than the number of new listings in May of last year.

Even with home sales declining and home inventory increasing there is still a lack of inventory based on demand, and that will only help home prices continue their upward trend. The number of active listings sits at 493 for May, which is the second consecutive increase. Active listings are now 15.2% higher than in May of last year, but down 35.8% from May of 2020.

The lack of listings continues to drive demand and home prices higher, but there may be a shift coming. Median home values in Gilbert have increased an average of 25.0% since May of 2021. Mortgage interest rates are now around 5.25%, but are still historically low, so there should be more buyers in Gilbert looking to purchase homes as we head into the summer of 2022.

>>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 - May 2022

Homes for sale in Gilbert, AZ | Troy Erickson Realtor

"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]

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Chandler AZ Real Estate Housing Market Report - May 2022

6/7/2022

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Chandler AZ Real Estate Housing Market Report - May 2022

The average sales price of Chandler homes continues to break records, growing from $583,485 in January to $706,852 in May. This is the seventh increase in the last eight months, since September of 2021, and the largest monthly increase since before 2019.

The average sales price per square foot has increased or remained the same for 24 consecutive months and is now at $315/sf in May. This is a $66/sf increase from the $249/sf in May of 2021.

The days on market for May of 2022 decreased to 20 from 23 DOM in April. This ties for the all-time low set in June and August of 2021. The DOM has remained at or below 31 since February of 2021, which means that homes in Chandler are selling faster than they ever have, and most home sellers are receiving multiple offers which continues to drive prices up.

Chandler AZ homes for sale | Troy Erickson Realtor

After increasing for two straight months, Chandler home sales have decreased two straight months, going from 328 in March to 311 in May. The number of Chandler home sales is lower than in May of last year by -15.9%. Home sales in Chandler are usually increasing this time of year, so this could be a sign that the housing market is shifting.

The number of new listings in Chandler saw an increase for the fifth straight month, going from 395 in April to 431 for May. With this increase new listings are up 17.1% from May of last year. This is the first time the monthly year-over-year change has been positive since July of 2021. However, there is still a lack of homes for sale compared to the demand because people are staying in their homes longer, and there have not been enough new homes built to satisfy the number of buyers.

After decreasing for three straight months, the number of active Chandler listings have now increased for the fourth straight month, going from 313 in January to 423 in May of this year. This is the second month in a row that active listings have been higher than last year. Active listings in Chandler are now greater than last year's May listings by 22.6%. The last two months have seen a rise in the number of listings in Chandler, which is also a sign that the housing market may be slowing down, but they are still way below pre-pandemic numbers.

There is still a lack of listings in Chandler, and the low inventory continues to drive housing demand and home prices higher. Median home values in Chandler have increased an average of 26.0% since May of 2021, which is almost unbelievable. Mortgage interest rates have increased above 5.0%, and the war between Russia and the Ukraine has caused inflation to really jump in the U.S., but it looks like there will still more buyers looking to purchase Chandler homes throughout the spring and summer of 2022.

>>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.