In the past month (July 2013), there were only 162 new Ahwatukee homes that came up for sale. Compared to 180 homes that came on the market in July of 2012, that is a 10% reduction in the number for homes priced up to $599,999.

 

More Ahwatukee Homes sold this July than July last year

However Ahwatukee saw 21 more new home owners in July 2013 than same time last year July 2012. In the past month, 163 Ahwatukee homes were successfully sold compared to 142 sold in July of 2012.

Ahwatukee also saw a 88.4% decrease in homes listed as short sales compared to same time last year. This past month we had only 5 homes listed as short sale compared to 43 in July of 2012.

Only 6 homes out of the 162 homes that came up for sale were foreclosures, no change from July 2012.

Ahwatukee Homes that sold and came up for sale in July 2013

Ahwatukee Homes that sold and came up for sale in July 2013

 

As a home owner looking to sell your Ahwatukee home, you are most likely to find buyers making an offer to purchase your home using a loan or mortgage than you will find those who will be using cash to make the purchase.

This is likely because,  just as we saw earlier in June, the number of home buyers paying all cash reduced in July 2013 as well. The number of home buyers using a loan or mortgage to purchase their new homes keeps increasing.

 

Ahwatukee Luxury Homes Sold and Luxury Homes that came up for Sale

The Ahwatukee Luxury Real Estate market is showing some increase in activity both in the area of price as well as the number of homes being sold and those being put up for sale.

In July last year only 3 Ahwatukee homes priced $600,000 and above sold. This past July 6 Ahwatukee homes sold, a 100% increase in the number of luxury homes that sold.

Ahwatukee Luxury homes in July 2013

Ahwatukee Luxury homes in July 2013

Even though the number of homes sold are not as much as we saw in May, it is still better than the level of activity last  year.
Last July the most expensive home sold in Ahwatukee sold for $990,000 while this past July, the highest home sold in Ahwatukee, sold for $1,200,000.

A total of 14 homes priced $600,000 and above came up for sale in Ahwatukee last month. The highest price one was listed for sale at $2,399,000 with the lowest one listed for sale at $675,000. Both of these homes were in Ahwatukee zip code 85044.

 

Number of Ahwatukee luxury homes sold in July 2013

Number of Ahwatukee luxury homes sold in July 2013

So far this year, there have been 44 homes sold in Ahwatukee priced over $600,000. 9 of these homes were sold for more than a $1,000,000 with the rest being below a million dollars.

This is so much better news for luxury home owners because last year by this time, only 25 homes sold above $600,000 in Ahwatukee with 1 home being a foreclosure and 6 being short sales.

The most expensive home that sold last year by end of July was sold for $1,299,999 while this year by end of July, the highest one sold for $2,300,000 almost twice as much.

This shows the number of home buyers in the higher price range has increased from last year and luxury home owners looking to sell have a much better chance than they did last year. Luxury homes do take a longer time to sell because affordability decreases with price, this is still true in today’s market.

About Dorette Oppong-Takyi

Dorette is local Ahwatukee Resident, a Realtor® and a Luxury Home Specialist. She is very knowledgeable with the Ahwatukee Real Estate market trends and statistics. Dorette is also a Member of The institute for Luxury Home Marketing. She has a monthly publication, Ahwatukee Monthly which highlights the real estate activity and trends in the local Ahwatukee Real Estate Market