2018 seemed to have come and gone in a flash, at which point we reflect on the year of sales in the Sun Lakes Community. The real estate market last year was a busy one across the United States and Sun Lakes AZ was no different. Sun Lakes Arizona is an Active Adult Community that encompasses five separate communities with three homeowner associations; Sun Lakes Country Club, which stands alone; Cottonwood and Palo Verde governed by SLHOA2; and Ironwood and Oakwood, governed by SLHOA3.
Whether you’re considering selling or buying a home in the Sun Lakes community, this information serves as a tool to see what’s happening in the areas real estate market. The real estate market report for Sun Lakes shows that the market is still hot but inventory remains low. Currently, the entire area has 99 properties that are listed for sale. The year ended with 679 closed transactions, below the previous year with 704 sold. What is interesting is the fact that the number of sales may have been lower but the average sales price went from $264,679 to $295,122, an increase of over 10%! The highest purchase price received in 2018 was $585,000 and 2017 brought in a high of $570,000, increasing almost 3%. With the inventory at a low, the average days on the market went from 65 in 2017 down to 52 in 2018.
Quick Take-Aways by Community
IronOaks (Ironwood and Oakwood)
- Currently has 48 homes on the market
- In 2018 there were 257 sold properties
- The averaging sales price was $370,014
- Days on the market averaged 56
- The highest property sold in this community for $585,000
- The community has 39 homes that are listed for sale
- 262 homes sold throughout the year
- The average sales price of $289,429
- Average days on the market at 54
- $518,000 for highest sold property price
Sun Lakes Country Club
- The lowest inventory of only 12 currently listed for sale
- Last year 155 properties sold in the community
- An average sales price of $181,056
- 40 days on the market
- A high sale of $334,000
If you are considering selling or know someone who is, please share this blog post.
For information on homes that have recently sold in your community, contact us here.