Sun Lakes AZ Real Estate Market Update Will Verify Temps are Not the Only Thing That is Sizzling!
The Sun Lakes AZ real estate market update clearly shows a strong uptick in values. For instance, there is a 7% appreciation in home values. Therefore, this report will provide an overall analysis of the three homeowners associations within Sun Lakes AZ. Also, we will provide you with a break out of each association. Additionally, this report depicts trends from January 1, 2019 through June 30th 2019. Likewise, we will compare this current data with that of 2018 for the same time period.
387 Homes Have Been Sold From January to July
In reality, Sun Lakes AZ is an active adult community that comprises 5 different communities. With this said, there are only 3 different homeowner associations. First, is Sun Lakes Country Club which stands alone. Second, is Cottonwood and Palo Verde which is being governed by HOA2. Third, is Ironwood and Oakwood. Consequently, governed by HOA3. As a matter of fact, in Sun Lakes over all, there have been 387 homes sold between the 1st of the year and June 30th of 2019.
Correspondingly, the average selling price is $311,768. Which brings the average selling price per square foot to $163.27. The highest priced home to sell was $688,000. For the most part, average days on market so far in 2019 is 57 days. Comparatively, in 2018, 389 homes were sold during this time frame. But, the average selling price was $291,770. Therefore making the average price per square foot $153.08. On the other hand, the highest priced home to sell was $541,000 and average days on market equals 57.
Equally important, Sun Lakes residents are enjoying a 7% appreciation in average sales values in 2019 over 2018. Coupled with low inventory, appreciation is likely to continue into the second half of the year!
Sun Lakes AZ Real Estate Market Update by HOA
First, IronOaks which comprises Ironwood and Oakwood.
- 2019 – 153 homes have sold with an average selling price of $379,000. Which makes the average sales price per square foot $178.85. Also, the highest sales price is $688,000 with average days on market to be 69.
- 2018 – 146 homes were sold. For instance, the average selling price was $365,452 making the price per square foot $169.93. Then, the highest selling price was $541,000 with average days on market to be 62.
Second, Cottonwood and Palo Verde.
- 2019 – 153 homes have been sold with the average selling price of $308,080 with the average price per square foot of $168.14. Likewise, the highest selling home price is $515,000 with 51 average days on market.
- 2018 – 146 homes sold with an average sales price of $288,176. Therefore, making the average price per square foot $152.38. The highest selling home price in 2018 was $518,000. Additionally, days on market equaled 58.
Third, Sun Lakes Country Club.
- 2019 – 83 homes have been sold with the average selling price of $195,327. Thus making average price per square foot $136.76. The highest sales price is $297,900 with average days on market to be 49.
- 2018 – 95 were sold with average selling price of $184,366 and $128.04 to be average price per square foot. By the same token, the highest sales price was $334,000 with 43 average days on market.
Buyer Demand Remains Strong
Above all, home values are up, inventory is down and buyer demand is strong. As a matter of fact, if you are thinking of buying or selling your Sun Lakes AZ home, chances are we have a buyer or a seller sitting in the wings. Contact us today, The Kolb Team or get a free online estimate of your home. Free Home Evaluation.
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