What are the prices doing in Sun Lakes Arizona? Normally the strong selling season is January – April with a couple months on either side being good shoulder selling times. 2014 has thus far been mostly a buyer’s market in Sun Lakes with median prices rising but buyer demand weaker than 2013.
The Cromford Report is a resource that tracks and measures real estate activity in the Phoenix area. The Cromford Index measures whether the market is neutral, buyers or sellers market. An index of 100 is neutral. 2014 started at an index of 125 then fell to below 100 and is now at 111. That following a hot seller’s market in August 2013 when the index was over 369!
Looking at the Annual Median Sales Price for week 15 (April 10th 2014) the green line represents 2014 with annual median sales price at $230,000. That is up over 10% from 2013 at $207,750 and significantly up over 2012 when it was at only $192,525
With winter continuing to hang on in much of the United States and Canada we are hopeful that the market will spring back this summer a little more with inventory dropping. The Canadian dollar remains below par with the U.S. dollar and that is affecting sales as well. And gone are the “deals” from short sales and lender owned properties. The good news is that it is more of a normal market (whatever normal means these days). Prices are up. Homes are still selling. It is important to find a realtor that understands marketing in today’s world. A listing in MLS and a sign in the front yard isn’t going to cut it anymore.
The KOLB Team is a full time top producing real estate team specializing in Sun Lakes AZ and active adult community real estate. We know the market. We live here, work here and play here. Sun Lakes Arizona is a top choice for active adult living because of its location, affordability and amenities. Check out what our clients have to say about working with us.
Thinking of selling your home? Check out our listing videos that get ranked on page 1 of google and make sure your home is seen.
Our community video will show you why we love it so much and think you will too. Interested in knowing more about Sun Lakes Arizona or the real estate market? Call us at 480-440-0849 or visit our website or search here for all homes for sale in Sun Lakes.