Ahwatukee AZ Real Estate Housing Market Report - June 2022

7/29/2022

Ahwatukee AZ Real Estate Housing Market Report - June 2022

After increasing last month, the average sales price of homes in Ahwatukee decreased in June. This is the second decrease in the last three months. The average sales price decreased from an all-time high of $701,303 in May to $662,898 in June.

The price per square foot of Ahwatukee homes, however, has increased for the sixth straight month, going from $273/sf in December of 2021 to $321/sf in June. The average sold price per square foot of Ahwatukee homes has increased 15 times out of the last 17 months.

After decreasing to 24 days on market in April, the Ahwatukee days on market has increased two straight months up to 29 DOM in June. Although it has increased from the all-time low of 22 DOM in August of 2021, 29 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 months, Ahwatukee home sales have decreased for the second straight month. Home sales in Ahwatukee have decreased from 121 in April to 97 in June. This is the lowest number of Ahwatukee home sales in June over the last five years. With this decrease, Ahwatukee home sales are now down -35.8% from June of 2021.

After decreasing for two straight months, the number of new listings in Ahwatukee increased in June, going from 126 new listings in May to 170 this month. The number of new Ahwatukee listings are now 17.2% higher than they were in June of 2021. This is the first time since November of 2021 that new listings in a month have been greater than the previous year.

After decreasing for three months, active listings in Ahwatukee have now increased for the fourth straight month, going from 99 in February to 192 in June (almost doubling). With this increase, the number of active Ahwatukee listings is 29.7% higher than in June of 2021. It is first time that Ahwatukee monthly listings have been greater than that same month in the previous year since February of 2019.

There has been a lower-than-normal inventory of Ahwatukee homes for sale for quite some time, but inventory is increasing. Homes that are listed in Ahwatukee continue to sell very fast. Median home values in Ahwatukee have increased an average of 18.8% since June of 2021. With interest rates nearing 6.0%, the demand from buyers looking to purchase homes in Ahwatukee should remain high through 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 - June 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.

Ahwatukee Real Estate | Troy Erickson Realtor

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Tempe AZ Real Estate Housing Market Report - June 2022

7/28/2022

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Tempe AZ Real Estate Housing Market Report - June 2022

The average sales price of Tempe homes increased for the seventh straight month, moving from $501,611 in November of 2021 to a new all-time high of $615,471 in June.

The average sold price per square foot of Tempe homes decreased for the first time since December of 2021, dropping from an all-time high of $330/sf in May to $322/sf in June.

After increasing to 40 days on market in March, Tempe days on market decreased two months in a row. The DOM remained at the all-time low of 20 DOM for June, the same as it was in May. This shows that homes in Tempe are selling faster than they ever have before.

After decreasing in April, Tempe home sales have increased two straight months. Home sales in Tempe have increased from 110 in April to 123 in June. With this increase, Tempe home sales are still -14.6% lower than in June of 2021. The low number of listings continues to impact sales.

The number of new Tempe listings has increased each month so far in 2022. New Tempe listings have gone from 99 in January to 189 in June, almost doubling. This is the fifth straight increase after decreasing or remaining the same the previous five months in a row. New listings in Tempe are now higher than they have been since August of 2018, and they are now 18.1% higher than in June of 2021.

The number of active listings increased for the second straight month after decreasing sixth straight months previously. Active listings have gone from 122 in April to 199 in June. The number of active listings in Tempe are now greater than they were in June of last year by 14.4%.

The lack of homes for sale continues to drive demand and home prices higher, but that is changing. Inventory is increasing, and that will have an impact on prices.

Median home values in Tempe have increased an average of 18.3% since June of 2021. Even with interest rates moving towards 6.00%, there will still be more buyers looking to purchase a home in Tempe throughout the summer 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]

Tempe Homes For Sale | Troy Erickson Realtor

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Scottsdale AZ Real Estate Housing Market Report - June 2022

7/27/2022

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Scottsdale AZ Real Estate Housing Market Report - June 2022

After Scottsdale's average sales price dropped this last month for the first time since January, the average sales price bounced back up to a new all-time high of $1,499,941 in June from $1,432,021 in May.

At the same time, the average sold price per square foot for Scottsdale homes decreased for the first time since November of 2021 and has gone from $483/sf in May to $476/sf in June. The average sold price per square foot in Scottsdale has increased or remained the same in 22 out of the last 24 months.

After dropping down to 29 DOM in May, Scottsdale days on market increased to 34 DOM in June. The Scottsdale DOM was as high as 76 in January of 2021, so being at 34 DOM now is still very 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 exactly the same in May as April but decreased from 491 last month to 422 for June. Scottsdale home sales this June were much lower than in the previous four years. Scottsdale home sales are now -29.9% lower than they were in June of 2021.

The number of new Scottsdale listings decreased for the first time after increasing for five straight months, going from 765 in May to 714 in June. At 714, this is the highest number of new Scottsdale listings in June over the last four years. New listings this June are higher than in June of 2021 by 7.9%.

The number of active Scottsdale listings has increased for the third consecutive month going from 705 in March to 1,194 in June. Active Scottsdale listings are greater than the same month in the previous year for the first time since before 2019 and are now 21.0% higher than in June of last year. Home inventory of Scottsdale homes has increased in four out of the last five months as it looks like there may be a shift happening in the housing market.

Listings are still low overall and continue to drive demand and 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 25.3% since June of 2021, which is still very good. Even with interest rates edging closer to 6.0%, there still should be more buyers looking to purchase a Scottsdale home throughout the 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 - June 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 | Top Scottsdale Real Estate Agent

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Phoenix AZ Real Estate Housing Market Report - June 2022

7/26/2022

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Phoenix AZ Real Estate Housing Market Report - June 2022

The average sales price of Phoenix homes decreased for the second time in the last four months, going from $621,346 in May to $607,185 in June. The average sales price of Phoenix homes has increased in 12 out of the last 17 months.

After increasing for five straight months the average sold price per square foot of Phoenix homes decreased, going from $317/sf in May to $312/sf in June. The Phoenix average sold price per square foot has only decreased three times in the last 28 months.

The Phoenix days on market increased for the first month after decreasing four straight months. The days on market increased from 24 in May to 28 DOM in June. The DOM to sell a home in Phoenix is still 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 three months, after increasing for two straight months. Home sales in Phoenix have gone from 1,556 in March to 1,177 in June. 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 June are down -30.1% from June of 2021.

After decreasing last month, new listings in Phoenix increased for the second straight month, going from 1,714 in April to 2,188 in June. This is the highest number of new listings since before 2018 (over 3 1/2 years). New listings in Phoenix have now increased in five out of the last six months. With this recent increase, the number of new Phoenix listings are 15.9% higher than in June of last year.

After slightly decreasing in March, the number of active Phoenix listings has now increased the last three months. Active Phoenix listings have now increased in four out of the last five months, going from an all-time low of 1,636 in January of this year to 2,708 in June. The inventory of Phoenix homes is now higher than in June of last year by 37.3%.

There is still a lack of listings based on demand, but it 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 20.0% since June of 2021. Even with interest rates moving closer to 6.0%, there will still be more buyers looking to purchase Phoenix homes throughout 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 - June 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 - June 2022

7/24/2022

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Mesa AZ Real Estate Housing Market Report - June 2022

The average sales price of homes in Mesa has decreased for the second time in the last four months, going from $572,243 in May to $571,498 in June. This is not a significant decrease, and the average sales price of Mesa homes has still increased in 15 out of the last 19 months.

The average sales price per square foot of Mesa homes has seen its first decrease after remaining the same or increasing for 29 consecutive months. The price per square foot of Mesa homes decreased for the first time in over two years going from $294/sf in May to $291/sf for June. Even with the decrease this month there has still been an increase of $56/sf since June of 2021.

After decreasing for four consecutive months, the days on market for Mesa has increased, going from 21 DOM in May to 25 DOM in June. The days on market is still very low for Mesa, and that means that homes in Mesa, AZ will still be in high demand as we go through the summer of 2022.

Mesa AZ homes for sale | Troy Erickson Realtor

After seeing a slight increase in May, Mesa home sales saw a fairly decent decrease in June. Home sales in Mesa went from 624 in May to 564 in June. After reaching the largest number of monthly sales since September of 2020 in March, total sales for June are less than they have been over the last three years. Mesa home sales this month are lower than in June of last year by -14.9%.

The number of new listings has increased for the second straight month, going from 723 in April to 882 this June. This is the largest number of new listings in a month since before 2018. With this increase of new listings in Mesa, they are now 20.2% higher than they were in June of last year. The increase in inventory may just be because we are in the high season for home sales, or it may signify that there is a shift occurring in the housing market.

The inventory of homes is catching up with demand, and that may signify that home price increases will begin to slow. After decreasing for five straight months, the number of active listings in Mesa has increased for three straight months, going from 669 in March to 1,079 in June (a 61% increase in two months).

Active listings in Mesa have been trending higher the last three months, and the number of active listings is now 52.4% higher than they were in June of 2021.

The number of listings in Mesa is still low, although the number of listings is increasing. Demand is still fairly high but increases in home prices are slowing. Median home values in Mesa have increased an average of 18.2% since June of 2021. With interest rates moving closer to 6.0%, 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 - June 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 - June 2022

7/17/2022

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Gilbert AZ Real Estate Housing Market Report - June 2022

The average sales price of Gilbert homes has slightly decreased after increasing for four months in a row, going from $719,659 in May to $718,085 for June. Average sales prices in Gilbert have increased in 21 out of the last 26 months.

After decreasing in January, the average sold price per square foot of Gilbert homes has increased for the fifth straight month, going from $305/sf in May to $310/sf in June. This is just another sign that home values continue to increase, as this is the 22nd increase in the last 24 months.

After decreasing for 3 straight months, Gilbert days on market has increased from 20 DOM in May to 25 DOM in June. The Gilbert DOM is still low, which means that homes in Gilbert Arizona are still selling very fast!

Gilbert AZ homes for sale | Troy Erickson Realtor

After decreasing in April and May, home sales in Gilbert saw a slight increase this month, going from 350 in May up to 368 in June. With this increase, Gilbert home sales are now -19.8% lower than in June of 2021. This is the time of year when home sales typically increase as we head into the high buying season. June home sales in Gilbert are significantly lower than they were in June 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 fourth straight month after decreasing in February, going from 372 in February to 622 in June. With the increase in June, this is the highest number of new Gilbert listings since May of 2019. The number of new Gilbert listings in June is now 18.0% higher than the number of new listings in June of last year.

Home inventory in Gilbert seems to be catching up with demand, and that will help home prices slow down their rapid climb over the last two years. The number of active listings sits at 685 for June, which is the third consecutive monthly increase. Active listings are now 53.9% higher than in June of last year, and down just 6.9% from June of 2020.

The lack of listings continues to drive demand and home prices higher, but there seems to be a shift coming. Median home values in Gilbert have increased an average of 17.3% since June of 2021. Mortgage interest rates are now close to 6.00%, but are still historically low, so there should be more buyers in Gilbert looking to purchase homes as we enter the summer months 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 - June 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 - June 2022

7/14/2022

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Chandler AZ Real Estate Housing Market Report - June 2022

The average sales price of Chandler homes decreased for the first time since January of this year. After increasing to an all-time high of $704,532 in May, the average sales price of Chandler homes decreased to $654,961 in June. This is only the second decrease in the last nine months, since September of 2021.

After increasing or remaining the same for 24 consecutive months, the average sales price per square foot of Chandler homes suffered the first decrease in June. The average sales price dropped from $315/sf in May to $311/sf in June. This is still a $55/sf increase from the $256/sf in June of 2021.

The days on market for June increased from 20 DOM in May to 25 DOM. This is the first increase since January of this year. 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, although there seems to be a shift happening in the housing market.

Chandler AZ homes for sale | Troy Erickson Realtor

After increasing for two straight months, Chandler home sales have now decreased for three straight months, going from 328 in March to 264 in June. The number of Chandler home sales is lower than in June of last year by -32.1%. Home sales in Chandler are usually increasing this time of year, so the decrease in home sales over the last three months could be a sign that the housing market is shifting.

After increasing for five straight months, the number of new listings in Chandler saw a decrease, going from 435 in May to 419 for June. Even with this decrease new listings are up 7.7% from June of last year. This is the second consecutive time the monthly year-over-year change has been positive. Prior to that, the last time the year-over-year change was positive was back in July of 2021. 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 fifth straight month, going from 313 in January to 560 in June. This is the third month in a row that active listings have been higher than last year. Active listings in Chandler are now greater than last year's June listings by 47.4%. The last three 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 17.0% since June of 2021, which is starting to decline. Mortgage interest rates have increased to almost 6.0%, 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 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.