The first question our Sun Lakes real estate clients ask us is “How is the market and how has it been trending?”
This report will give you details from our paid subscription to The Cromford Report – a resource that measures real estate valley wide on a daily basis. This report will show three areas that are important when looking at the real estate market in Sun Lakes, Arizona.
Sun Lakes Realty – listings, sales and list to sale ratio
This report will show the active listing count in all of the Sun Lakes communities as of February 28, 2017. What you will see in the diagram is 144 listings compared to 216 same time last year. That is a decrease in inventory in over 40% leaving buyers with fewer choices when searching for homes in Sun Lakes. As a seasonal market, our inventory always decreases in the summer months. Our strongest selling season is when the snowbirds are here between October and May. However, we have seen sales at a slower pace during the summer months in the past couple of years.
This next report will show sales per month for the past five years and you will see the number of sales is down slightly February 2017 over same time in 2016. However, note the strongest sales in March, April and May. If that continues in 2017 our strongest selling months are still ahead. And, while it falls in June sales do not stop completely.
This diagram will give you a very good indication of when homes sell in Sun Lakes. Listings begin at the first of each year and we see the largest inventory during the months of March and April.
The last diagram will show you list to sale price. Buyers today are savvy and do their research. Often the value the seller gives to their home versus what the buyer value is varies and the wider the gap the longer that home will sit on the market. The good news is that that gap is not that far apart at February 28, 2017. Sellers are asking an average of $147.66 per square foot and buyers are valuing on average at $143.52 per square foot. Why is this important to know? When you are listing a home for sale in Sun Lakes, Arizona, you need a Realtor who knows the real estate market. The Kolb Team will always give a range from low to high with the value dependent upon location, upgrades to the home and condition. That range comes from the Arizona Regional Multiple Listing Service (ARMLS) and is based on homes with similar size, location and upgrades. Your home will be compared to homes that are active (competition) as well as those pending (under contract) and those homes that have sold within the past 90 days. An experienced and knowledgeable Realtor can help you accurately price your home for sale.
But be aware, when the seller wants to list at a price higher than the range and comparable properties allow, that house will normally sit on the market for a longer period of time and days on market is not a friend to the seller.
Sun Lakes Real Estate For Sale
If you are searching for Sun Lakes homes for sale or just have questions about the market trends we are happy to help! The Kolb Team is a top producing, full time real estate group that lives in Sun Lakes and knows the market well. Contact us here or call 480-440-0849
Get to know The Kolb Team and our real estate philosophy in our video below.