We’ve said good-bye to 2013 and hello to the 2014 winter residents and those renting homes in beautiful Sun Lakes Arizona where the high temperature today is a balmy 70+. Contrast that with the Ice Bowl in the midwest between the Green Bay Packers and San Francisco 49ers and the Sun Lakes lifestyle looks even better!
Sun Lakes Arizona
Sun Lakes is a Robson developed active adult community with just under 10,000 homes in five separate communities. Sun Lakes Country Club is the first of Robson’s active adult community in Sun Lakes followed by Cottonwood Country Club and then the three gated communities of Palo Verde, Ironwood and Oakwood Country Clubs. One of the things our clients love about Sun Lakes is the location! Close to all major freeways (the I-10, the 101 and the 202) and less than a half hour to Sky Harbor and Mesa Gateway Airports make this location at the intersection of Riggs Road and Alma School one of the top choices for active adult living in the East Valley of Phoenix.
You just can’t beat the amenities available to Sun Lakers. How about 99 holes of golf, 27 tennis courts, 12 swimming pools, miles of walking paths, lakes, fitness centers, pickle ball, restaurants and we haven’t even begun the clubs, social organizations, volunteer and service opportunities and so much more!
Cottonwood Country Club
Cottonwood is home to 2,736 homes and is governed by the Cottonwood-Palo Verde Homeowner Association. With reasonable and affordable dues that cover all common area maintenance the amenities share by Cottonwood and Palo Verde are plentiful. Cottonwood features a Par 72 Championship Golf Course and Palo Verde a shorter 18 hole course. You will find 3 swimming pools, a lap and kids pool, 2 indoor racquet courts, 7 tennis courts, pickle ball, billiards, bocce ball and much more!
The 2013 market report is favorable for sellers with a 12% increase in the average sales price over 2012. 206 homes were sold in 2012 with an average sales price of $183,274 compared to 182 homes sold in 2012 with an average sales price of just $163,372. The average price per square foot in 2012 was $92.26 compared to $106.62 in 2013 and average days on the market fell in 2013 to 64 down from 2012 when days on market were 98.
The lowest priced home that sold in 2012 was $99,000 and in 2013 – $105,000. The highest priced home that sold in 2012 was $318,000 and in 2013 – $345,000.
The Cromford Report is a resource subscribed to by The KOLB Team that provides real estate tracking, indexes, reports and analysis of both short term and long term historical trends. The Cromford Index is used to measure whether a market is a buyer’s or seller’s market. The graph below will indicate that Sun Lakes is still considered a seller’s market with an index of 130.5. 100 is the indicator of a balanced market. Above 100 is a seller’s market and you can see in August 2013 the index was well above 350 and has fallen to its current 130.5 at 2013 year end. Part of that is due to the increased inventory that typically occurs in the strong selling season of January – April. Buyer demand has waned and we are hopeful to see that pick up now that the holidays are over and winter residents are back.
For sellers the time is right to list. The population has swelled and renters looking to buy this season have settled in and are out looking at open houses and with their real estate agents. For buyers, the time to buy is right. Homes are not getting less expensive – they are increasing in value and we expect that continue in a moderate growth mode through 2014. Interest rates though increasing some are still at very low rates. The KOLB Team are specialists in the community and in real estate in Sun Lakes Arizona. We all live here and we are active in the community. Contact us and benefit from the inside knowledge of the Sun Lakes Arizona real estate market. We would love to tell you why we love it here and why you will too! Here is a video that will give you a glimpse of Sun Lakes Arizona. See all of our videos on our You Tube Channel. Call us today – we’ll be glad to help share our knowledge and expertise!