Ahwatukee Monthly August 2013

August 2013

AHWATUKEEMONTHLY Ahwatukee Monthly is a monthly publication of the Ahwatukee Real Estate Market.

This publication is published by Dorette Oppong-Takyi, a Real Estate Professional licensed in the State of Arizona.

She lives in Ahwatukee and services the Ahwatukee Area as well as other parts of the Greater Phoenix Area.

This Real Estate Market Update is based on information from homes priced for sale in Ahwatukee at $599,999 and below.

To receive an update for a specific subdivision, area or price range, please contact her, using the information on the back of this publication.

Ahwatukee Saw Less Number of Homes Come Up for Sale last Month!

10% less than the number of homes in July 2012 In the past month (July 2013), there were only 162 new

Number of Homes

July 2013

July 2012

homes that came up for sale in Ahwatukee. Compared to 180 homes that came on the market in July of 2012, that is

Listed for Sale

162

180

Listed as Short Sale

5

43

Successfully SOLD

163

142

a 10% reduction in the number for homes priced up to $599,999.

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

As a home owner looking to sell your home, you are most

sold homes in July of 2012.

likely to find buyers making an offer to purchase your

Ahwatukee also saw a 88.4% decrease in homes listed

home using a loan or mortgage than you will find those

as short sales compared to same time last year. This past

who will be using cash to make the purchase.

month we had only 5 homes listed as short sale compared

This is likely because, just as we saw earlier in June, the

to 43 in July of 2012.

number of home buyers paying all cash reduced in July

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

2013 as well. The number of home buyers using a loan or mortgage to purchase their new homes keeps increasing.

AHWATUKEEMONTHLY AUGUST 2013

Ahwatukee Real Estate Activity Grouped by Listing Price $99,999 and Below

$100,000 to $199,999

$200,000 to $299,999

With only 2 homes priced in the

This price band seem to becoming

The highest number of homes sold

price band coming up for sale last

our new lower end price range in

last month in Ahwatukee were in this

month and only 3 of them being

Ahwatukee.

price range.

sold, this price range seems to be

The average of the 27 homes that

59 homes priced in the price band

a dying price band . The number

sold in this price range in Ahwatukee

were successfully sold. 33 of which

of homes in the price range

was $172,241 in July of 2013.

were paid for with conventional loan,

coming up for sale keep dwindling.

In the new future, we may not be seeing any homes priced in Ahwatukee in this price range.

The days of getting a condo or townhouse for a steal below a

The highest home sold for $205,000

10 with cash, 6 with FHA loan and 8 with VA loans. 2 were purchase with

and the lowest sold for $125,000.

These homes sold the fastest with an average number of days it took to sell

other methods or a combination.

The home sold for the highest

these homes being 26 days.

amount, sold for $307,500. It was a 4

This could be attributed to the fact

bedroom single level home in Foothills

$100,000 seem to be ying by so

that almost half of these homes were

Clubwest after just 7 days on the

fast. Out of the 3 homes sold, one

paid for in cash, which reduced the

market. It was 1900 sq. ft. home

sold as high as $120,000 with the

number of days it took to get all the

without a pool, but with a huge lot in a

lowest one selling for $85,000.

paperwork done to close the deals.

cul de sac.

JULY 2013 Number of Homes

$0 $99,999

$200,000 $299,999

$200,000 -

$300,000 -

$400,000 -

$500,000 -

$299,999

$399,999

$499,999

$599,999

NEWLY LISTED

2

24

74

30

20

12

SOLD

3

27

59

47

15

12

AVERAGE DAYS

70

28

29

48

62

40

$300,000 to $399,999 With 47 homes selling in last

$400,000 to $499,999 15 homes sold in this price band in

$500,000 to $599,999 Ahwatukee saw 12 new homes on

month in the price range, this price

July of this year, with the highest sold,

the market for sale in July and also

range was the second one with the

selling for $482,500.

had 12 homes sold as well.

most activity.

Inventory of homes available for

The lowest sold price was for

The highest amount paid was

$337,000. It was a short sale home

$595,000 which was $4000 less than

sale in this price range is beginning

what was originally put on the market

the asking price of $599,000. This

to shrink with only 30 of them

in April of 2012.

home was previously listed for sale at

coming up for sale.

Homes in the price range sold last

All homes sold in the price range were sold in Ahwatukee zip codes

month were on the market for an

85048 and 85045 after being on the

average of 48 days.

market for an average of 62 days.

$645,000 in November 2012, had the price reduced twice with no success.

The lowest one sold for $490,000 which was also $24,900 below the

Majority of them, a total of 35

2 of the 20 new homes that were

originally asking price using an FHA

homes were bought using a type or

put up for sale this past month were

loan. Homes listed for sale in this

kind of loan with only 12 being paid

foreclosures listed at $400,000 and

price range took an average of 40

for with cash.

$474,900 respectively.

days to sell.

Š Copyright 2013 Data Compiled & Owned by Dorette Oppong-Takyi 480-442-0779, Unauthorized distribution of this report is strictly prohibited.

Based on information from the Arizona Regional Multiple Listing Service. Information deemed reliable but guaranteed

AHWATUKEEMONTHLY AUGUST 2013

Ahwatukee Luxury Real Estate Update 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.

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.

In july last year only 3 homes priced $600,000 and

This is so much better news for luxury home owners

above sold in Ahwatukee. This past July 6 homes sold, a

because last year by this time, only 25 homes sold above

100% increase in the number of luxury homes that sold.

$600,000 in Ahwatukee with 1 home being a foreclosure

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

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 pricer range has increased from last year and luxury

up for sale in Ahwatukee last month. The highest price

home owners looking to sell have a much better chance

one was listed for sale at $2,399,000 with the lowest one

than they did last year. Luxury homes do take a longer

listed for sale at $675,000. Both of these homes were in

time to sell because aordability decreases with price,

Ahwatukee zip code 85044.

this is still true in today s market.

Š Copyright 2013 Data Compiled & Owned by Dorette Oppong-Takyi 480-442-0779, Unauthorized distribution of this report is strictly prohibited.

Based on information from the Arizona Regional Multiple Listing Service. Information deemed reliable but guaranteed

Everardo Keeme Photography Everardo and Everardo Keeme Photography is anything but your average Phoenix photographer. Everardo Keeme Photography offers portrait photography for high school senior portraits, business portraits, lifestyle portraits, pet photography, and all of your family portrait needs. It s one thing to take pictures, its another to create art for our clients.

Everardo Keeme My clients are typically looking for artwork for their home vs. pictures. Using State of the Art technology, he can

Certi&ied Professional Photographer

even show clients how the finished product will look in their home or office. He adds that this helps the homeowner ‒ or decorator - to visualize what image sizes

Ahwatukee: 15825 S 46th St #124 Phoenix, AZ 85048

and colors will work best in the space.

Scottsdale: Customized framing or mounting is also offered using

7127 East 6th Avenue Scottsdale, AZ 85251

contemporary metal, acrylic, canvas or environmentallyfriendly bamboo or wood materials and includes complimentary installation and a lifetime warranty.

AHWATUKEEMONTHLY

IS A MONTHLY

AHWATUKEE HOME MARKET UPDATE PUBLICATION

BY DORETTE OPPONG-TAKYI.

Dorette Oppong-Takyi is a Real Estate Professional in Phoenix, AZ, USA and a member of the Institute for Luxury Home Marketing.

After years of running her husband s medical practice, she understands the importance of providing stellar customer service to her clients as well as individualized attention to details for each client.

Coming from a science background, she applies her analytical, fact based and data driven contributions to every real estate transaction she is involved in. She is well versed with the trends and statistics of the Phoenix Real Estate market.

Website:

Phone: 480-­‐382-­‐7226

http://www.LuxuryLivingInPhoenix.com

Cell Phone: 480-442-0779 Email: Dorette@LuxuryLivingInPhoenix.com

If you have a brokerage relationship with another agency, this is not intended as a solicitation. All information deemed reliable but not guaranteed. Keller Williams Realty East Valley Each office is independently owned and operated. 2077 E Warner Road Suite 110, Tempe, AZ 85284

AHWATUKEEMONTHLY AUGUST 2013

Local Business Spotlight