Ahwatukee AZ Real Estate Housing Market Report - July 2022

8/19/2022

Ahwatukee AZ Real Estate Housing Market Report - July 2022

After increasing in May, the average sales price of homes in Ahwatukee has decreased the last two months. This is the third decrease in the last four months. The average sales price decreased from an all-time high of $701,303 in May to $612,860 in July.

After increasing for six straight months, the price per square foot of Ahwatukee homes has decreased, going from $321/sf in June to $311/sf in July. Even with this decrease the average sold price per square foot of Ahwatukee homes has increased 15 times out of the last 18 months.

After increasing for two straight months, the Ahwatukee days on market has decreased from 29 DOM in June to 28 DOM in July. Although it has increased from the all-time low of 22 DOM in August of 2021, 28 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 third straight month. Home sales in Ahwatukee have decreased from 121 in April to 74 in July. This is the lowest number of Ahwatukee home sales in July over the last five years, and the lowest monthly sales since January of 2019. With this decrease, Ahwatukee home sales are now down -39.3% from July of 2021.

After increasing last month, the number of new listings in Ahwatukee decreased in July, going from 170 new listings in June to 146 this month. The number of new Ahwatukee listings are now just 1.4% higher than they were in July of 2021. This is the second straight month that listings in a month have been greater than the same month the previous year.

After decreasing for three months, active listings in Ahwatukee have now increased for the fifth straight month, going from 99 in February to 257 in July (more than doubling). With this increase, the number of active Ahwatukee listings is 81.0% higher than in July of 2021. It is the second straight month that Ahwatukee monthly listings have been greater than that same month in the previous year.

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 5.3% since July of 2021. With interest rates around 5.5%, the demand from buyers looking to purchase homes in Ahwatukee should remain high through the remainder 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 - July 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]

Homes for sale in Ahwatukee Foothills Arizona

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 - July 2022

8/18/2022

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Tempe AZ Real Estate Housing Market Report - July 2022

The average sales price of Tempe homes increased for the eighth straight month, moving from $501,611 in November of 2021 to a new all-time high of $627,613 in July.

The average sold price per square foot of Tempe homes decreased for the second straight month, dropping from an all-time high of $330/sf in May to $311/sf in July.

After Tempe days on market decreased two months in a row, the DOM increased to 25 in July. Even with this increase to 25 DOM, homes in Tempe are selling faster than they ever have.

Tempe AZ homes for sale | Troy Erickson Realtor

After increasing two straight months, Tempe home sales have decreased in July. Home sales in Tempe have declined from 123 in June to 74 in July. With this decrease, Tempe home sales are now -43.9% lower than in July of 2021. The increase in home prices is finally impacting sales.

The number of new Tempe listings has increased each month in 2022 through June. After going from 99 in January to 189 in June, almost doubling, new listings in Tempe decreased to 149 in July. New listings in Tempe are now lower than they have been in July of the previous three years, and they are now -2.0% lower than in July of 2021.

The number of active listings increased for the third straight month after decreasing sixth straight months previously. Active listings have gone from 122 in April to 253 in July. The number of active listings in Tempe are now greater than they were in July of last year by 22.2%.

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 22.6% since July of 2021. Even with interest rates averaging around 5.5%, there will still be more buyers looking to purchase a home in Tempe throughout the remainder 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.

Tempe real estate housing report - July 2022

Homes for sale in Tempe, 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]

Tempe real estate | Troy Erickson Realtor | HomeSmart

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Scottsdale AZ Real Estate Housing Market Report - July 2022

8/17/2022

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Scottsdale AZ Real Estate Housing Market Report - July 2022

After Scottsdale's average sales price reached a new all-time high of $1,499,941 last month, the average sales price dropped back down to $1,397,356 in July.

At the same time, the average sold price per square foot for Scottsdale homes decreased for the second time since November of 2021 and has gone from $483/sf in May to $468/sf in July. The average sold price per square foot in Scottsdale has increased or remained the same in 22 out of the last 25 months.

After dropping down to 29 DOM in May, Scottsdale days on market increased the last two months and is up to 38 DOM in July. The Scottsdale DOM was as high as 76 in January of 2021, so being at 38 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 have decreased two months in a row, going from 491 in May to 272 in July. This is the lowest number of Scottsdale home sales since before 2018. Scottsdale home sales are now -47.5% lower than they were in July of 2021.

The number of new Scottsdale listings decreased for the second time in a row after increasing for five straight months, going from 765 in May to 583 in July. At 583, this is the second highest number of new Scottsdale listings in July over the last four years. New listings this July are lower than in July of 2021 by -3.5%.

The number of active Scottsdale listings has increased for the fourth consecutive month going from 706 in March to 1,368 in July. Active Scottsdale listings are now 37.2% higher than in July of last year. Home inventory of Scottsdale homes has increased in five out of the last six 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 23.6% since July of 2021, which is still very good. Even with interest rates remaining around 5.5%, there still should be more buyers looking to purchase a Scottsdale home throughout the remainder 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 - July 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]

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Phoenix AZ Real Estate Housing Market Report - July 2022

8/16/2022

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Phoenix AZ Real Estate Housing Market Report - July 2022

The average sales price of Phoenix homes decreased for the second consecutive month, going from $621,346 in May to $560,522 in July. However, the average sales price of Phoenix homes has increased in 12 out of the last 18 months.

After increasing for five straight months the average sold price per square foot of Phoenix homes decreased for the second straight month as well, going from $317/sf in May to $305/sf in July. The Phoenix average sold price per square foot has only decreased four times in the last 28 months.

The Phoenix days on market increased for the second straight month after decreasing four straight months. The days on market increased from 24 in May to 29 DOM in July. 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 four months, after increasing for two straight months. Home sales in Phoenix have gone from 1,556 in March to 969 in July. This is typically the time of year where we would see an increase in home sales, so this is unusual, and I would say is a sign that the housing market is shifting. With this decrease in Phoenix homes sold, total home sales for July are down -35.7% from July of 2021.

After increasing for two straight months, new listings in Phoenix decreased, going from 2,189 in June to 1,829 in July. This is the highest number of July listings since before 2018. New listings in Phoenix have now increased in five out of the last seven months. With this recent decrease, the number of new Phoenix listings are just 1.3% higher than in July of last year.

After slightly decreasing in March, the number of active Phoenix listings has now increased the last four months. Active Phoenix listings have now increased in five out of the last six months, going from an all-time low of 1,635 in January of this year to 3,380 in July. The inventory of Phoenix homes is now higher than in July of last year by 60.3%.

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, and is a sign that the housing market in Phoenix is shifting.

With that said, median home values in Phoenix have increased an average of 8.3% since July of 2021. Even with interest rates averaging around 5.5%, there will still be more buyers looking to purchase Phoenix homes throughout the remainder 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 - July 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]

Phoenix homes for sale | Troy Erickson Realtor | HomeSmart

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Mesa AZ Real Estate Housing Market Report - July 2022

8/12/2022

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Mesa AZ Real Estate Housing Market Report - July 2022

The average sales price of homes in Mesa has decreased for the third time in the last five months, going from $571,498 in June to $538,739 in July. This is a fairly significant decrease, yet the average sales price of Mesa homes has still increased in 15 out of the last 20 months.

The average sales price per square foot of Mesa homes has seen back-to-back decreases 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, and dropped to $281/sf in July. Even with the decreases in the last two months there has still been an increase of $41/sf since July of 2021.

After decreasing for four consecutive months, the days on market for Mesa has increased two months in a row, going from 21 DOM in May to 30 DOM in July. The days on market is still very low for Mesa, and that means that homes in Mesa, AZ will still be in high demand throughout the remainder of 2022.

Mesa AZ homes for sale | Troy Erickson Realtor

After seeing a slight increase in May, Mesa home sales has seen two consecutive decreases. Home sales in Mesa went from 624 in May to 408 in July. After reaching the largest number of monthly sales since September of 2020 in March, total sales for July are less than they have been since January of 2019. Mesa home sales this month are lower than in July of last year by -34.6%.

After increasing for two straight months, the number of new listings in Mesa decreased, going from 882 in June to 817 in July. With this decrease of new listings in Mesa, they are still 8.2% higher than they were in July of last year. The number of homes being listed is decreasing, which 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 four straight months, going from 688 in March to 1,393 in July (a 102% increase in three months).

Active listings in Mesa have been trending higher the last three months, and the number of active listings is now 71.1% higher than they were in July of 2021.

The number of listings in Mesa is still low in comparison, 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 16.5% since July of 2021. With interest rates hovering around 5.5%, there still should be more buyers looking to purchase a home in Mesa throughout the remainder 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 - July 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]

Mesa AZ homes for sale | Troy Erickson Realtor | HomeSmart

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Gilbert AZ Real Estate Housing Market Report - July 2022

8/11/2022

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Gilbert AZ Real Estate Housing Market Report - July 2022

The average sales price of Gilbert homes has decreased for the second straight month after increasing for four months in a row, going from $718,085 in June to $712,625 for July. Average sales prices in Gilbert have increased in 21 out of the last 27 months.

After increasing for five straight months, the average sold price per square foot of Gilbert homes has decreased, going from $310/sf in June to $304/sf in July. Even though it decreased, the average sold price per square foot in Gilbert has increased in 22 of the last 25 months.

After decreasing for 3 straight months, Gilbert days on market has increased two months in a row, going from 20 DOM in May to 29 DOM in July. 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 increasing last month, home sales in Gilbert saw a significant decrease this month, going from 368 in June to 262 in July. With this decrease, Gilbert home sales are now -38.6% lower than in July of 2021. This is the time of year when home sales typically increase as we head into the high buying season. July home sales in Gilbert are significantly lower than they were in July of the last three years, including when we were going through the Covid-19 pandemic.

The number of new listings in Gilbert decreased in July after increasing for four straight months, going from 622 in June to 555 in July. With this decrease it is still the second highest number of new Gilbert listings since July of 2020. The number of new Gilbert listings in July is now 13.7% higher than the number of new listings in July 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 895 for July, which is the fourth consecutive monthly increase. Active listings are now 70.8% higher than in July of last year, and higher than they have been since June of 2019.

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 22.5% since July of 2021. Mortgage interest rates are now hovering around 5.5%, but are still historically low, so there should be more buyers in Gilbert looking to purchase homes through the rest 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 - July 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]

Gilbert AZ homes for sale | Troy Erickson Realtor | HomeSmart

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Chandler AZ Real Estate Housing Market Report - July 2022

8/10/2022

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Chandler AZ Real Estate Housing Market Report - July 2022

The average sales price of Chandler homes has now decreased for the second straight month. After increasing to an all-time high of $704,532 in May, the average sales price of Chandler homes has decreased to $634,896 in July.

After increasing or remaining the same for 24 consecutive months, the average sales price per square foot of Chandler homes has decreased for the second straight month. The average sales price has dropped from $315/sf in May to $299/sf in July. This is still a $36/sf increase from the $263/sf in July of 2021.

The days on market has now increased for the second straight month, going from 20 DOM in May to 31 DOM for July. 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 four straight months, going from 328 in March to 200 in July. The number of Chandler home sales is lower than in July of last year by -41.7%. Home sales in Chandler are usually increasing this time of year, so the decrease in home sales over the last four 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 its second straight decrease, going from 435 in May to 419 for July. With this decrease new listings are now down -9.1% from July of last year. 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 sixth straight month, going from 313 in January to 700 in July. This is the fourth month in a row that active listings have been higher than last year. Active listings in Chandler are now greater than last year's July listings by a whopping 78.1%. The last six 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. Active listings are nearing the numbers they were at prior to the Covid-19 pandemic.

There is still a lack of listings in Chandler, but sales have decreased which is increasing the inventory and slowing down home prices. Median home values in Chandler have increased an average of 16.8% since July of 2021, which is starting to decline. Mortgage interest rates have recently decreased to around 5.5%, while the war between Russia and the Ukraine has caused inflation to really jump in the U.S. However, it looks like there will still more buyers looking to purchase Chandler homes throughout the rest 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.