The first quarter of 2014 just ended and the real estate climate in Ahwatukee is encouraging. We saw a $25,000 increase in median price this past quarter compared to the same quarter last year.
During the first quarter of 2013, the median price of homes that actually sold was $235,000 and during this first quarter, our median price was $260,000, a 10.6% increase. Fortunately for current property owners looking to sell their properties, this means they get a little bit more cash in their pocket than they would have had last year, but the downside is, they have to wait a little bit longer than they would have if they sold the previous year.
Even though the price of the homes sold went up, the average number of days it took to sell homes this past quarter also increased by 2 weeks. Home sellers had to be a bit more patient to get more money.
In the first quarter of 2014, the average number of days it took to sell a home was 72 days, compared to 58 days same time last year.
About 49 fewer homes were sold during the first quarter of 2014 than in 2013. The highest priced home sold in Ahwatukee was $1,598,000 with the lowest at $69,900 this past quarter compared to $1,287,500 and $59,900 in 2013.
Ahwatukee Real Estate Activity Priced Below $600,000
Homes that came up for sale in Ahwatukee during April 2014
During the month of April, 178 Ahwatukee homes were put up for sale, priced below $600,000.
Out of the 178 homes, 5 of them sold before the end of the month at an average of $175,760, with the highest one located on 46th Pl 85044, with 3 bedrooms and 2 bathrooms, selling for $215,000. The home had a pool with some partial updates done to the home.
4 of the homes have been taken of the market, 2 were cancelled and 2 were taken off temporarily. 21 of the homes are pending a sale with 22 under contract but accepting back up offers. 128 of those homes are still available for sale.
72 of the homes that were put up for sale in April were located in zip code 85044 , 14 of them in 85045 and majority of them (92) in 85048.
Homes that sold in Ahwatukee during April 2014
With most of the homes selling at about 98% of the original asking price on the average, 146 homes priced below $600,000 sold in Ahwatukee. The average price of homes sold was $254,940 at about $140.09 per sq. foot.
In terms of price per sq. ft, the most expensive home sold for $309,900 on Glenhaven Dr, 85048. For 1655 sq. ft in size, this home was the most expensive at $187.25 per sq. ft of living space.
This home was located on the Foothills Golf Course with great views of the golf course and lake. It had 3 bedrooms and 2 bathrooms. The home was a single level home with a private pool in the Foothills.
Ahwatukee Luxury Real Estate Update
Ahwatukee saw only 5 real luxury home buyers completing a real estate transaction during the month of April. Out of the 5 buyers, 3 of the transactions were below $1 million and the other 2 were above $1 million.
For homes priced below $1,000,000 in Ahwatukee, we currently have about 13 months supply and 11 months supply for those over $1 million based on our current sale and transactions.
The luxury home market in Ahwatukee has about 77 homes for sale today with the highest priced at $2,500,000 and the lowest at $619,000.