It is a strange housing market out there right now. Inventory has plummeted back to levels that we saw during the pandemic buying frenzy. However, for a number of reasons, buyer demand is lagging as well; hence, a slow market with very little inventory to choose from and slow buyer/showing activity.
BUYERS: When first time home buyers complain to their parents or grandparents about today’s disappointing 7% interest rates, they likely get a response something like, “We purchased our first home in the 1980s at {insert range of 10-18% interest rate here}.

Most will tell you that in spite of those high interest rates, it was one of the smartest things they ever did, because they bought young when housing prices were low, and benefited from the consistent rise in real estate values over long periods of time. Some buyers are “waiting” until interest rates go back down… Flash back to 2 years ago when some of those same buyers were “waiting” for housing prices to come down when interest rates were at 3%.
Waiting for the perfect home, at the perfect time, at the perfect price and the perfect mortgage rate is an exhausting and futile endeavor. The reason being is that when all the perfect boxes are checked off, there is a line of competing buyers that make the experience… well... less than perfect.
SELLERS: The median sales price is $40,000 lower than the market peak in June of 2022. Closed transactions in the month of September in the Phoenix metro market are down 48% from September of 2021. DOM is leveling off after falling in the second quarter. Make no mistake though, the market still favors sellers. So far this year, sales prices have appreciated 6-7% over the past 8 months, with 12 fewer days on the market compared to last year, and tighter negotiations within just 2% of the last list price on average. Sale prices are expected to continue rising mildly for the next 3 months, which makes sense in a low-inventory market.
SUN LAKES: A few things to note about the chart below comparing the first 3 quarters of the last 3 years in Sun Lakes:
- The market peaked in June of 2022 and prices retreated about 10-12% from then until February of 2023. Prices have risen about 1% a month since then.
- Closed volume is running 14% behind last year and 31% behind the frenzied 2021 period.
- Average days on market has retreated from its peak of around 78, but going into the holiday season, sellers should plan on 10-14 more days on the market than during other times of the year.
YTD Sun Lake Stats thru 9/30/2023 |
2023 | 2022 | 2021 | |
Closed Volume | 415 | 485 | 603 |
Avg Sale Price | $452,203 | $492,220 | $402,991 |
Avg Days on Market | 67 | 31 | 27 |
The Kolb Team is here to assist with all your real estate needs: buying, selling, home valuations, and preferred vendors. Just contact us and let us know how we can help!
The Kolb Team


REALTOR®
A realtor® is a real estate broker or associate who holds active membership in a local real estate board that is affiliated with the National Association of Realtors. Realtors® abide by a Code of Ethics which holds them to higher ethical standard. A professional Realtor® is your best resource when buying or selling a home.
As knowledgeable realtors, The Kolb Team…
- Can save you significant amounts of time and money, as well as frustrations.
- We know the market inside and out.
- We can help you with any home.
- We are an excellent source for general and specific information about the community and its services, shopping, and transportation.
- We offer a team of professionals specializing in in transaction management, marketing, and negotiations.
Pet of the Month
Meet our October Pet of the Month:
Sammy and Bebo dancing to ♫ Who Let the Dogs Out! ♫
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!

Recipe of the Month
Fast, Easy, 5-Ingredient Honey Glazed Chicken
You can have this tasty meal on the table in less than 30 minutes! It’s also a basic recipe to build on - check out our suggestions on how to make it versatile at the end of the recipe.
Ingredients:
- ¼ c honey
- 2 tbsp soy sauce
- ⅛ tsp red pepper flake
- 1½ tbsp oil (EVOO, vegetable, avocado, whatever you have)
- 2 skinless, boneless chicken breast halves, cut into bite-size pieces

Directions:
- In a bowl, mix honey, soy sauce, and red pepper flake with a whisk.
- In a skillet, heat oil over medium heat.
- Cook chicken in hot oil, stirring occasionally, until lightly brown, about 5 minutes.
- Add honey mixture to skillet, stirring immediately, and continue to cook and stir until chicken has no pink color in the center and the sauce is thickened, about 5 minutes more.
- Serve hot and enjoy!
Suggestions:
- Serve over or with your favorite rice.
- Double the sauce and add a bag of frozen stir fry vegetables to the skillet right before you add the honey mixture.
- Coat the chicken in seasonings (like garlic, onion powder, and ginger) before cooking.
Shred-A-Thon
FREE on-site shredding of documents and computer hard drives. Hard drives must be be removed from devices.
Location: Field of Dreams Softball Field
Date: October 28, 2023
Time: 8AM – 10AM
We will once again be collecting pantry food items for our friends at Jacob’s Mission.

ASA Now and Jacob’s Mission brings awareness to Arizona’s foster care crisis and creates opportunities for our community to volunteer to impact the lives of our most vulnerable population: children who were abused, abandoned, or neglected at the hands of the very people who were supposed to protect them.
To serve children, youth and families directly impacted by foster care, ASA Now created a “one-stop” healing space where immediate needs are met and tutoring for children who have fallen behind educationally are rendered. Extracurricular activities are provided to offer healing and joy. Birthdays and graduations are celebrated. Life skills and mentors are provided for youth close to aging out.
How To Viva Las Vegas!
Sure, our area of Arizona is great in the fall and winter – the mild temperatures make getting outside a much more feasible undertaking.

But if you’re looking for a bit more excitement in this cooler weather, are willing to travel about 5 hours, and are interested in countless entertainment opportunities within either walking distance or 15 minutes of your hotel, you might want to consider a road trip to Las Vegas. Whether you’ve been before or never have, the city has a lot to offer! Below, check out some tips we’ve gathered from friends and professional travelers that have visited Sin City.
Comfortable Shoes Are a Must
So, you’re staying on “the Las Vegas Strip”… that means you won’t be walking too much, right?! Actually, no! Many visitors are surprised to learn that they will be doing a lot more walking than they thought when they booked their room in one of the famous hotels in the tourist district. A couple of hours walking that area can easily add up to several miles. Most hotels with casinos make you walk through the actual gambling area to get to the lodging area, and just that can be a hike. We highly recommend you wear comfortable shoes, because there’s a good chance you’ll be walking much more than you think.
Know Where Exactly Your Hotel and Your Room Inside the Hotel is Located
Hotels on the strip are huge, and many have different towers housing hotel rooms. It’s not uncommon to need to walk at least 15 minutes from the parking garage to the check-in area, and then another 15-20 minutes to your room every single time you want to venture to the hotel doors leading to the outside. Staying right on “the Strip” gives you faster access to different attractions, shows, restaurants, and nightlife, but staying off-Strip means less tourists wandering through the hotel’s hallways at all hours and a less costly trip.
Often, booking online means getting a better deal, but we recommend you call the hotel prior to doing so. It’s important to know where your potential room is located within the property. How long does it take to get from the front desk to your room? How long does it take to get from your room to the outside tourist attractions? What is the view from that type of room? There are plenty of attractions off the main drag, so it might be a good idea to find out how much it is for parking (self and valet) every time you want to leave your hotel.
Ask For What You Want
Las Vegas hotels are notorious for being much less expensive during the week, and in addition to that, many will upgrade you to a better room for free if you simply ask. On the nights of Thursday, Friday, and Saturday, as well as when certain events are in town, free upgrades are few and far between, so keep that in mind. If you can get away to Sin City during the week though, you might get a great deal on a superior room just because you asked.
Also, no matter what nights of the week you stay, you should feel comfortable calling your hotel directly and asking if you can have a room in an area you find more desirable, whether that’s closer to or further away from the elevator, or on the non-Strip side of the hotel, or with a view of the pool. It’s your getaway, so why not ask? The worst the staff can say is “I’m sorry, we can’t accommodate that request”.
If You’ll Be Gambling, Set a Budget and Stick to it!
It’s so easy to sink a bunch of money into a slot machine or table game before you even know it’s gone. Having said that, it can be exciting to bet against the house odds and see how you fare. If you plan to gamble, it’s highly recommended that you decide how much you’re willing to wager before you get to the bright lights of the city.
Even a $20 budget can show you the experience of winning or losing in Vegas. There are penny slots and there are table games (like Blackjack) with a 5-figure minimum bet. If you’re comfortable with gambling, just make sure you don’t overdo it – you still have to get home!
From betting experts: “If you win big early, CASH OUT!!!”
Skip Hotel ATMs Whenever Possible
This tip somewhat goes with the above one about setting a budget, primarily because it can be so tempting to get some cash out when you’ve won more than you’ve bet, but other than the budget consideration, the fees that hotel ATMs charge cannot be overlooked. If you thought your hometown non-bank charged a lot… you ain’t seen nothin’ yet! Vegas casinos and hotels have installed ATMs that charge a ridiculous amount to access your own money.
Set your entire travel and gambling budget ahead of time and withdraw the money from your own bank. It’ll save you a good amount in fees! Of course, make sure you keep that money safe during your trip, or you’ll have a whole different problem to deal with!
Dinner Reservations Make a World of Difference
There are few things more disappointing during a trip than being “hangry” and not being able to get a table at a restaurant. Don’t end up in this situation! Whether you want to check out a celebrity-founded restaurant, a popular buffet, or any food service offerings while in Vegas, we recommend you call ahead to find out if they accept reservations, and if they do, that you plan ahead and reserve a table. If you can, make arrangements the day before you want to dine at your chosen eatery. Trust us – there’s always some event going on at some hotel on “the Strip”, and that very often means you’ll be hungry longer if you don’t plan ahead. It’s quite simple now, because you can call the restaurant directly, reserve seats through various apps, or ask the hotel concierge for assistance.
There’s More to Las Vegas Than the Casino Hotels
Below is just a tiny selection of places or events that are worth your time while in or on your way to Sin City:
The Mob Museum
Speakeasies
The Neon Museum
High Roller Observation Wheel
Red Rock Canyon
Hoover Dam Tour Information
Lake Mead Visitor Center
Shows in Vegas
Las Vegas Top Tours & Activities
The trip from the Phoenix area to Las Vegas is beautiful and even serene at times, passing through nothing but saguaros and vast desert. There are stops worth your time on the way there too. And when you research a trip to Las Vegas, we know you’ll find numerous options that appeal to your interests, whether on or off the main drag of Las Vegas Boulevard. It’s so fun to have that mecca of entertainment, dining, and lodging options within such a short drive of our home! Have you been to Vegas? Are you planning to go? Would you go after reading this article? Let us know!
See What Our Clients Are Saying!
“Their belief that we would accomplish our goal in a timely manner provided us with the confidence we needed to undertake this great adventure.”
Ann and Frank
- California
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!
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!

- Buyers in search of golf course home with a casita and a pool.
- Buyer looking for a home in Cottonwood on the golf course.
- Buyers looking for a home in Ironwood or Oakwood (1800-2300 sq. Ft.), willing do to updates.
- Buyers in search of an updated Barcelona with at least a 2.5-car garage + casita.
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
IPX1031 is a full-service Qualified Intermediary with highly specialized 1031 Exchange divisions. As the nationwide leader in the 1031 Exchange industry, they can handle any type of tax deferred 1031 Exchange transaction. Contact Paula Ripp by phone at 602-850-8641 or email at paula.ripp@ipx1031.com.

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
Would You Like a Free Buyer Guide or a Seller Guide?
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.