Ahwatukee AZ Real Estate Housing Market Report - July 2023
After increasing last month, the price per square foot of Ahwatukee homes remained the same this month as last month at $288/sf for July. This is the 8th month out of the last 11 that the price per square foot has remained the same or has decreased.
After decreasing 4 months in a row, the Ahwatukee days on market increased this month, going from 34 DOM in June to 56 DOM this month. There still should be demand for homes in Ahwatukee throughout the summer as we head into the slower part of the Arizona housing market.
After increasing last month, the number of new listings in Ahwatukee slightly decreased this month, going from 77 new listings in June back down to 74 in July. The number of new Ahwatukee listings are now -49.3% lower than they were in July of 2022.
After increasing for seven straight months, active listings in Ahwatukee have decreased the last 10 months in a row, going from 299 in September of 2022 to 120 in July this year. With this decrease, the number of active Ahwatukee listings are now -53.7% lower than in July of 2022. July inventory in Ahwatukee is now the lowest it has been since March 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 actually increased an average of 4.0% since July of 2022. This is the first increase since November of 2022.
Even with interest rates remaining around 7.0%, the demand from buyers looking to purchase homes in Ahwatukee should remain slightly higher than in a balanced market throughout the summer.
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