Sun Lakes, AZ Real Estate Market Report
As the strongest selling season for Sun Lakes, Arizona begins to wane for the summer months, it is interesting to note some statistics compared to the previous four years. Sun Lakes selling season starts in September and kicks into high gear January through April and then begins to slow in May and June before dying in the heat of the summer months. Sun Lakes is comprised of five separate communities, including Sun Lakes, Cottonwood, Palo Verde, Ironwood and Oakwood Country Clubs. This report is inclusive of all five.
As of April 14, Sun Lakes has 224 active listings compared to 190 this time last year. 2013 was the lowest at 142. With buyer demand high in 2013 homes were selling like hotcakes.
2016 – 224
2015 – 190
2014 – 174
2013 – 142
Under Contract Listings
As of April 14, 95 listings are under contract for 2016. Compare that to 78 is 2015, 71 in 2014 and 91 in 2013.
Currently, we have 158 days or five months supply of inventory for sale in Sun Lakes. That is not a strong position for a seller as we are coming into the slow down cycle of our selling season. It’s time for seller’s to have a serious conversation with their real estate agent if the objective is to sell the home this season.
Here is a break down for the days inventory by year.
2015 – 148
2014 – 129
2013 – 97
Oh, for the good old days of 2013!
Annual Median Sales Prices
Through mid April of 2016 we have remained relatively flat with a very slight increase in median sales price over 2015.
2016 – $252,000
2015 – $250,000
2014 – $230,000
2013 – $207,750
There is still time to sell a home in Sun Lakes. However, the Sun Lakes, AZ real estate market update reflects that it may be time to make the necessary pricing adjustments to get it sold. The Kolb Team listed 17 homes in Sun Lakes through mid April. All but three are sold or under contract. Contact The Kolb Team at 480-440-0849 for more information on buying or selling a home in Sun Lakes or any active adult community in the East Valley.
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