Sun Lakes Market Statistics
The Sun Lakes Arizona market statistics 2017 is out through October 31 and indicates strong growth in the real estate market. Of the nearly 10,000 Sun Lakes homes, only 90 are actively for sale.
This post will demonstrate 2016 versus 2017 through the period January 1 – October 31 of each year.
Oakwood Country Club
2017 # of homes sold – 179 compared to 169 in 2016
2017 average sales price – $330,484 compared to $336,667 in 2016**
2017 sale to list price ratio is up to 98% over 97% in 2016
2017 average days on market 80 compared to 83 in 2016
**2017 had 4 homes sell over $500k with the highest at $570,000. 2016 had 11 homes sell over $500,000 with three over $700,000. This skews the numbers which is why average sales price is lower in 2017 over 2016. Growth is still there – overall in Sun Lakes growth is up 5.5% over 2016.
Ironwood Country Club
2017 # of homes sold – 41 compared to 47 in 2016
2017 average sales price – $322,646, up 9.8% over 2016 at $293,657
2017 sale to list price ratio is up to 97% over 96% in 2016
2017 average days on market 82 compared to 98 in 2016
Palo Verde Country Club
2017 # of homes sold – 72 compared to 71 in 2016
2017 average sales price – $313,935 – up 10.7% over 2016 at $283,370
2017 sale to list price ration is static at 97%
2017 average days on market 77 compared to 112 in 2016
Cottonwood Country Club
2017 # of homes sold – 172 compared to 171 in 2016
2017 average sales price – $236,489 – up 5.8% over $223,457 in 2016
2017 sale to list price ratio is up to 98% over 97% in 2016
2017 average days on market – 64 compared to 72 in 2016
Sun Lakes Country Club
2017 # of homes sold – 129 compared to 141 in 2016
2017 average sales price – $148,464 – up 7.2% over $138,407 in 2016
2017 sale to list price ratio is static at 97%
2017 average days on market – 51 compared to 70 in 2016.
The market in Sun Lakes is strong for sellers.
The Cromford Index at 100 is a balanced and neutral real estate market. The chart indicates at at 184 October 26, 2017. Just three weeks ago it was 166, clearly indicating the market remains strong for Sun Lakes, Arizona real estate.
What’s in store for the Sun Lakes Arizona real estate market?
Nationally, the growth rate for real estate is at 6% according to the National Association of Realtors.
That is not a sustainable growth. We are past due for a correction, but we are not seeing that happen in Sun Lakes. We anticipate a strong seller’s season for the remained of 2017 and into the 2018.
Certainly, economic and political agendas can reverse that trend, but all signs point to a strong season with fewer homes on the market and buyer demand.
For more information on specific Sun Lakes Arizona communities and the market trends for 2017, contact us online or call 480-809-5759.
The Kolb Team can help navigate through the home search and offer process to ensure a strong chance of an offer being accepted in this market.