Ahwatukee AZ Real Estate Housing Market Report - January 2023
After increasing for the first six months of this year, the price per square foot of Ahwatukee homes has now decreased in 6 of the last 7 months, dropping from a high of $321/sf in June back down to $270/sf in January of 2023.
The Ahwatukee days on market has increased 6 months in a row, going from 28 DOM in July to 81 DOM in January. Ahwatukee DOM has almost tripled in the last 6 months. There should still be some demand for homes in Ahwatukee as we begin 2023, but this is typically the slowest part of the season for the Arizona housing market.
After decreasing three straight months, the number of new listings in Ahwatukee increased this month, going from 51 new listings in December to 67 in January. The number of new Ahwatukee listings are now -31.6% lower than they were in January of 2022.
After increasing for seven straight months, active listings in Ahwatukee have decreased the last 4 months, going from 299 in September to 179 in January. With this decrease, the number of active Ahwatukee listings is still 75.5% higher than in January of 2022. January listings in Ahwatukee are greater than they have been over the last two years.
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, but you can see it has been taking longer each month since July. Median home values in Ahwatukee have now decreased an average of -1.9% since January of 2022.
Even with interest rates remaining around 6.5%, the demand from buyers looking to purchase homes in Ahwatukee should remain slightly higher than in a balanced market as we begin 2023. Sales are slowing and fewer people are listing their homes while inflation continues.
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