Ahwatukee AZ Real Estate Housing Market Report - October 2022
After increasing for the first six months of this year, the price per square foot of Ahwatukee homes has also fluctuated up and down, increasing again in September to $290/sf, and then dropping back down to $288/sf in October. Despite this decrease the average sold price per square foot of Ahwatukee homes has increased 16 times out of the last 21 months.
The Ahwatukee days on market has increased three months in a row, going from 28 DOM in July to 55 DOM in October. Although it has increased from the all-time low of 22 DOM in August of 2021, 55 DOM is still a lower number. There should still be a demand for homes in Ahwatukee as we head into the winter months, which is the slower season for the Arizona housing market.
After also increasing last month, the number of new listings in Ahwatukee decreased in October, going from 116 new listings in September to 86 this month. The number of new Ahwatukee listings are now -40.7% lower than they were in October of 2021. This is the lowest number of new listings this year, and for the month of October since before 2018.
After increasing for seven straight months, active listings in Ahwatukee have decreased in October, going from 299 in September to 277 in October. With this decrease, the number of active Ahwatukee listings is 54.7% higher than in October of 2021. Ahwatukee monthly listings in October are greater than October in previous years going all the way back to 2018.
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 eight 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 13.0% since October of 2021. Even with interest rates rising above 7.0%, the demand from buyers looking to purchase homes in Ahwatukee should remain higher than usual as we head into the winter, 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.