Ahwatukee AZ Real Estate Housing Market Report - August 2022
After increasing for six straight months, the price per square foot of Ahwatukee homes has decreased for two months in a row, going from $321/sf in June to $288/sf in August. Even with this decrease the average sold price per square foot of Ahwatukee homes has increased 15 times out of the last 19 months.
After decreasing last month, the Ahwatukee days on market has increased from 28 DOM in July to 38 DOM in August. Although it has increased from the all-time low of 22 DOM in August of 2021, 38 DOM is still a very low number. There should still be a demand for homes in Ahwatukee as we head into the fall and the slower season for the housing market.
After increasing last month, the number of new listings in Ahwatukee decreased for the second month in a row, going from 170 new listings in June to 106 this month. The number of new Ahwatukee listings are now -26.9% lower than they were in August of 2021. This is the lowest number of August listings in Ahwatukee since before 2018.
After decreasing for three months, active listings in Ahwatukee have now increased for the sixth straight month, going from 99 in February to 282 in August (almost tripling). With this increase, the number of active Ahwatukee listings is 67.9% higher than in August of 2021. It is the third 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 has rapidly increased in the last six months. Homes that are listed in Ahwatukee continue to sell fast, but you can see it slowing down. Median home values in Ahwatukee have increased an average of 12.9% since August of 2021. With interest rates around 5.5%, the demand from buyers looking to purchase homes in Ahwatukee should remain through the fall of 2022, but it is slowing as inventory rises and inflation continues.
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.
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.