How Did We Fare? 4th Quarter Home Sales in Sun Lakes, AZ
How did we fare? Wow! What a year 2021 has been. Even though, it seems like there was no inventory we saw an increase in home sales in Sun Lakes, AZ. After all, there were 694 homes that sold in 2020. But in 2021 we saw a sale of 749 homes. Of course, heading into 2022 we are still in a strong sellers market with less than 1% of Sun Lakes homes for sale. Sun Lakes, AZ is still enjoying an amazing appreciation in home values. This is over the same time period last year in 2020. With this in mind, there are currently only 45 active homes for sale in all of the Sun Lakes, AZ communities. Therefore, let me remind you that there are only 9,967 homes in the 55+ community of Sun Lakes.
Average Sales Price for the Year Sees an Appreciation of 18.2% Overall
How did we fare? 2021 4th quarter home sales broken down by number of homes sold, average price and days on market for Sun Lakes as a whole. Also, we will break it down for you by each community. As a matter of fact, Sun Lakes as a whole in the 4th quarter of 2021 saw the sale of 207 homes. The average sales price was $423,920. In addition, during this time period average days on market was 28. Markedly down from 39 average days on market in 2020. Likewise, in 2020 258 homes closed during this time period with the average sales price of $337,341.
So, what does this mean? Well, homes are still going on the market with a very high, willing and able buyer pool. And, days on market are continually decreasing.
Home Values Increase in IronOaks by 29% in the 4th Quarter
Notably, we saw a decrease in home sales in IronOaks during the 4th quarter of this year. For instance, 75 homes went under contract with the average sales price of $559,467. Comparatively, in 2020 for this same time period 104 homes went under contract with the average sales price of $433,267. That is a 29% increase in home values over last year! Also, days on market were almost cut in half in 2021. Therefore, we saw 21 average days on market in 2021 with 40 days in 2020. The highest sales price for this time period in 2021 was $931,200.
Cottonwood and Palo Verde Home Values Increase by 23.8% in the 4th Quarter
To demonstrate, in the 4th quarter of 2021 we see home values rise in Cottonwood and Palo Verde. For instance, 68 homes sold in this quarter with the average sales price of $440,028. Significantly, in 2020 28 more homes went under contract with 96. But, average sales price was lower at $355,274. Interesting to note, that average days on market were 44 in 2020 and 31 in 2021. Thus, the highest home sale was for this quarter was $820,000.
Sun Lakes Country Club Sees a 21.8% Increase in 4th Quarter Home Values
How did we fare? In Sun Lakes Country Club saw 64 closings in the 4th quarter of 2021. Here, average sales price was $272,267 with 34 days on market. Whereas, there were 58 home sales in 2020. Interestingly enough, average days on market in 2020 were 35. The highest sale for this time period was $455,000.
Quite frankly, it is a seller’s market. But, the ready, willing and able buyer’s are out there and ready to do business. Thus, demand for homes continues to be very high. Right now, in this market every home is a treasure! If you are considering selling, now is the time to take advantage while the market remains as hot as the temperature outside. To get your FREE home valuation click here.
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