Real Estate Market Rolls into 2024
As we enter 2024, let’s dive right in and look at some current statistics for the Phoenix area.
Current | Last Year | Last Month | |
Active Listings (excluding UCB & CCBS) | 14,593 | 16,298 (down 10.5%) | 15,981 (down 8.7%) |
Active Listings (including UCB & CCBS) | 16,457 | 18,097 (down 9.1%) | 18,050 (down 8.8%) |
Pending Listings | 3,263 | 3,657 (down 10.8%) | 3,798 (down 14.1%) |
Under Contract Listings (including Pending, CCBS & UCB) | 5,127 | 5,456 (down 6%) | 5,867 (down 12.6%) |
Monthly Sales | 4,929 | 5,138 (down 4.1%) | 4,634 (up 6.4%) |
Monthly Average Sales Price/Ft2 | $284.85 | $265.90 (up 7.1%) | $289.30 (down 1.5%) |
Monthly Median Sales Price | $429,990 | $412,000 (up 4.4%) | $439,000 (down 2.1%) |
Supply is down, which is ultimately good for sellers, as it means less competition. The monthly sales count for December was an improvement over November, but is still down from a year ago, when things were already not too good.
So, in a nutshell, this is neutral for sellers. Unfortunately, the pending and under contract counts are downright bad for sellers, down sharply from last month and significantly lower than a year ago. Buyer activity needs to pick up for the low inventory to benefit the sellers.
As most of you know, The Kolb Team specializes in active adult communities. Let’s take a closer look at Sun Lakes, the active adult community of about 10,000 homes where we live.
2023 | 2022 | Change | |
Homes Sold | 518 | 599 | -13.5% |
Avg Sale Price | $438,654 | $484,917 | -9.5% |
Days on Market | 61 | 36 | 40.9% |
Keep in mind, these are average prices, which in the case of 2022, were buoyed by a very strong first 5 months of 2022. For 2023, when comparing prices in January 2023 to those of January 2024, they are up around 6%, closer to the consensus healthy, normal annual market appreciation of 2-4%. We are approaching 100 active listings in Sun Lakes, which is the highest it has been for a couple of years, but still way below normal inventory which would be closer to 200.
No matter what happens with the market, The Kolb Team is here and qualified to navigate it. We hope your 2024 is blessed and prosperous!
The Kolb Team
Test Your Knowledge of Arizona Unique Marvels
- What weather phenomenon occurring in the USA at opposite ends of the spectrum can happen in Arizona due to our disparate climate?
- From near Flagstaff, all along the Mogollon Rim, and to the White Mountains area, the world’s largest stand of this kind of tree exists in Arizona. Hint: One measured by a national agency was 235 feet tall with a circumference of 27 feet – that would make one heck of a huge Christmas tree!
- Are you the outdoorsy type? If you are, you’ll have more fun in Arizona than in the entire Midwest. There’s only 50 of these across the midwestern United States, but Arizona has 90. What are they?
- Here’s a fill in the blank two-part question! Arizona grows so much ________ that it could provide every single person in the USA with one pair of ________ and still have some of the yearly crop leftover!
- The southernmost ski resort in all of the United States is located in Mount Lemmon, Tucson. What is the name of the mountain range you’d be bunny-sloping or swish-swish-slaloming down if you visited?
Investment Property
An investment property is real estate property purchased with the intention of earning a return on the investment either through rental income, future resale of the property, or both. The property may be held by an individual investor, a group of investors, or a corporation.
An investment property can be a long-term endeavor or a short-term investment. With the latter, investors will often engage in flipping, where real estate is bought, then remodeled or renovated, and sold at a profit within a short time frame.
The term "investment property" may also be used to describe other assets an investor purchases for the sake of future appreciation (such as art, securities, land, or other collectibles).
Pet of the Month
Meet our January Pet of the Month, the adorable Ellie!
If you would like your pet to be featured in our Pet of The Month and win a Chewy gift card for your sweet family member, send a picture of your baby to info@thekolbteam.com and tell us why your fuzzy, furry, feathery, or leathery pet makes you happy! We look forward to seeing all of your awesome pet pics!
French Onion Soup
Ingredients:
- 6 cubes beef bouillon
- 1 qt hot water
- 3 c onion, thinly sliced
- ¼ c butter, melted
- 1 ½ tsp salt
- ¼ c sugar
- 2 tbsp flour
- Toasted French Bread, sliced
- 1 c grated Parmesan cheese
- Dissolve bouillon cubes in hot water and place in crockpot.
- In large skillet, sauté onions in butter; cover and let cool 15 minutes. Uncover and add salt, sugar, and flour. Stir well.
- Add onion mixture to bouillon. Cover and cook in crockpot on low for 6 hours.
- Serve in individual bowls with a slice of French Bread and cheese sprinkled on top of soup. If you use oven-safe bowls, you can broil the cheese for a few minutes until your desired level of brown, crispy, yummy edges.
See What Our Clients Are Saying!
“We always recommend you to our friends and others.”
Tim & Karen
- Idaho
Searching for That Perfect Home?
When looking at pictures online, it can be tricky to figure out the layout of a home. We can help you with that! On our website, you can access the most popular floor plans in Sun Lakes, AZ. Just click the button below!
Aging Made Easier Conference
The Kolb Team is a proud sponsor of Neighbors Who Care and the Aging Made Easier conference.
Tuesday, January 30, 2024
8:30am – 12:30pm
Risen Savior Lutheran Church, 23620 S. Alma School Road in Chandler
Neighbors Who Care will once again be hosting its annual Aging Made Easier Conference early next year. Slated for January 30, 2024 from 8:30am – 12:30pm, the event will be held at Risen Savior Lutheran Church, 23620 S. Alma School Road in Chandler.
This FREE half-day conference, with its theme of “What You Don’t Know About Getting Older”, will provide you with answers to questions you may have now or in the future, as well as those you didn’t even know you needed to know. Designed to bring you the latest information on aging-related issues, Aging Made Easier promises a full lineup of experts in their respective fields to help you navigate your own personal journey or that of a loved one such as a parent or spouse.
Presentations
Headlining the event is our Keynote Speaker, Benjamin Surmi, MSG, Social Gerontologist and Director of Education and Culture for Koelsch Communities. Benjamin will share his insights on how to positively and proactively approach aging, debunk some aging myths, and offer local examples of your neighbors who are living their best life in their golden years.
Additional speakers will address some commonly overlooked topics including senior isolation, Veteran’s benefits, health tips for optimum wellness, and gathering your team to help you when you may no longer be able to help yourself. Our panel discussion speakers will enlighten you on “What You Can Do Today to Prepare for Your Tomorrow!”
Resource Fair
As in the past, there will also be a Resource Fair with a hand-selected group of 40+ senior services representatives to provide information about how you can benefit from their offerings. You’ll have the opportunity to personally interact and learn now about what you might need in the future. It’s always best to be aware and be prepared!
Registration
Register today on Eventbrite.com or call the Neighbors Who Care office at (480) 895-7133, ext. 170. The conference is open to anyone who is interested in how to make getting older as easy as possible!
Buyers of the Month
We have buyers who are ready, willing, and able to purchase and can’t find homes. If you or someone you know is thinking of selling and can accommodate, get in touch with us.
We have your buyer!
- Buyer looking for a Naples Villa on Golfview or Arrowvale with a view. Will consider home on greenbelt between Nacoma and Champagne Dr.
- Buyer looking for investment property in Cottonwood up to $400K.
- Buyer looking for a 2 bedroom + den on the walking path.
Recent Real Estate Sales in Sun Lakes
Wondering about your Neighbor’s Home Sales Price? Find out here to see what sold last month. The report is broken down by HOA, address, and floor plan (if the agent listed the model in MLS).
Vendor of the Month
Appointments can be scheduled during regular business hours Monday-Friday by calling 602-931-5869. They will attempt to accommodate all requests for same day appointments to the best of their ability. If you get their voicemail, it probably means all staff members are working in patients’ homes, but please leave a message and they will call you back.
You can also send a message through their website – please allow 24 hours for a response.
Small Animal Housecalls currently sees dogs and cats of all sizes. They are happy to assist with any dog or cat, from cats that can't be safely or calmly placed in a carrier and taken to a veterinary office, to very large dogs that aren’t able to stand or can’t get into a car.
As always, if you feel you have an emergency with your pet, please take them to an emergency hospital.
Test Your Knowledge of Arizona Weather – Answers
1. What weather phenomenon occurring in the USA at opposite ends of the spectrum can happen in Arizona due to our disparate climate?
Both the highest and lowest temperature in the same day
2. From near Flagstaff, all along the Mogollon Rim, and to the White Mountains area, the world’s largest stand of this kind of tree exists in Arizona. Hint: One measured by a national agency was 235 feet tall with a circumference of 27 feet – that would make one heck of a huge Christmas tree!
Ponderosa Pine
3. Are you the outdoorsy type? If you are, you’ll have more fun in Arizona than in the entire Midwest. There’s only 50 of these across the midwestern United States, but Arizona has 90. What are they?
Wilderness areas
4. Here’s a fill in the blank two-part question! Arizona grows so much ________ that it could provide every single person in the USA with one pair of ________ and still have some of the yearly crop leftover!
Cotton, jeans
5. The southernmost ski resort in all of the United States is located in Mount Lemmon, Tucson. What is the name of the mountain range you’d be bunny-sloping or swish-swish-slaloming down if you visited.
Santa Catalina Mountains
We Are Committed to Helping End Polio Now!
We will donate $100 in your name to end polio around the world, when you list your home for sale with us!
You may also donate directly here
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Get Insider Information
We live, work, play, and volunteer in Sun Lakes and we know the ins and outs of this community.
As always, if you or someone you know is considering buying or selling a home,
we are here year-round and would love to help! Visit us online at
TheKolbTeam.com or call 480-809-5759.