Ahwatukee Monthly July 2013

July 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.

More Homes been bought in Ahwatukee with Mortgages & Loans than Cash!

Number of Homebuyers using ALL CASH is down The number of homes sold in Ahwatukee this past month of June was slightly less than the previous month.

We also saw about 18% less than the number of homes sold in June last year (2012).

This past month, in June 2013, we had 164 homes

Method of Payment used for Purchases

June 2013

June 2012

Cash

47

60

Conventional Loans

95

96

FHA loan

24

38

selling in all 3 Ahwatukee zip codes compared to 197 sold homes in June 2012 Even though the number of buyers purchasing homes with an FHA loan has decreased by about 37% compared to last year, Ahwatukee saw more buyers using FHA loans to purchase their home than in May of this year.

Most of the home buyers using FHA loans, purchased homes priced between $200,000 and $299,999 with a few at $300,000 to $399,999 as well as $100,000 to $199,999.

In Maricopa County, the current maximum loan limit for a FHA loan is $346,250 as of November 19, 2012.

This is why we are seeing home buyers purchase with FHA loans at these price bands.

The number of home buyers who purchased homes in Ahwatukee using cash only also reduced this month. Those using conventional loans stayed about the same as last month.

Ahwatukee also saw an increase in luxury home sales (10 homes sold) in June 2013 compared to only 6 in June 2012 but still less than the 14 that sold in May 2013.

AHWATUKEEMONTHLY JULY 2013

$99,999 and Below

$100,000 to $199,999

$200,000 to $299,999

Only 1 home in the price range

46 homes were successfully sold in

58 homes were put on the market in

came up for sale in Ahwatukee

June, but only 25 new homes within this this price range with 2 being short

this past month.

price range put on the market for sale.

With prices of homes going up,

sales and 3 being foreclosed homes.

The shortage of homes in this price

With an average of 46 days to sell,

we will be seeing the number of

range could be due to these homes been 54 homes priced within this price

homes for sale in this price range

put up for sale with much higher prices.

reduce.

Comparing this to homes priced

This home was a regular sale,

The average selling price was

higher than this price range, more new

$247,394.

there were no new short sales or

homes came up for sale than the number

foreclosures in this price range,

of homes sold.

that came up for sale in June.

5 homes sold in this price range

range sold.

Only 12 of the 50 homes were paid for with cash, 25 of these homes were

The average days homes in the price range took to sell in Ahwatukee, was 45

bought with a conventional loan and 12 were FHA loans.

during the past month of June,

days, with the highest one selling at

with 4 of them been paid for by

$220,000 which is higher than this price homes being bought with an FHA loan.

cash and the other one being paid

range.

for with a conventional loan.

This price range saw the most with the next highest being in the next

Only 24 were paid with cash.

price range.

$0 $99,999

$200,000 $299,999

$200,000 -

$300,000 -

$400,000 -

$500,000 -

$299,999

$399,999

$499,999

$599,999

CASH

4

24

12

4

1

0

CONVENTIONAL

1

14

25

22

15

10

FHA

0

5

12

7

0

0

$300,000 to $399,999

$400,000 to $499,999

$500,000 to $599,999

2 out o the 45 new homes that

At an average of $447,025, 16

Almost even, 10 homes were sold

came up for sale were short sales

homes were sold in this price range

in Ahwatukee in this price range with

with no foreclosures coming up for

after an average of 65 days of being

11 homes also being put on the

sale in this price range.

on the market.

market this past month.

37 homes were sold after an

1 foreclosed home and 1 short sale

All 10 homes were bought with a

average of 54 days on the market

home were included in the 24 homes

conventional loan after being on the

with the highest price one selling for

that came up for sale in the month of

market for an average of 55 days.

$395,000.

June, in addition to the ones that

The lowest one sold for $305,000 and all 37 sold at an average price of $348,116.

This price range of homes saw 7 of these homes been bought with a FHA loan and only 4 homes with cash.

were currently on the market for sale.

Only 1 home was paid for with cash in this price with the rest being bought with a conventional loan.

The highest priced home sold for

There were no buyers with cash and the highest one sold for $588,000 and the lowest one selling for $500,000.

This price range did not see any foreclosures or short sales coming up

$495,000 and the lowest sold for

on the market in June, all 11 new

$395,000

homes were regular sales.

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 JULY 2013

Ahwatukee Luxury Real Estate Update $699,999 to $699,999

$700,000 to $799,999

$800,000 to $899,999

4 homes came up for sale in

Selling at an average of $625,625, 4 homes in Ahwatukee sold in the price range during the

Ahwatukee saw no new homes

Ahwatukee priced in this range.

coming up for sale in the month of

1 of these homes for sale was a short sale but there were no foreclosures that

month of June 2013.

As of July 1, there are currently only

came up for sale in June 2013.

All 4 of these homes were

June in this price range.

5 homes in Ahwatukee for sale in this

days on the market with a

Only one home sold in Ahwatukee in price range, after 2 of them sold in June. this price range and it was paid for in

conventional loan. No cash or

cash.

purchased after an average of 57

other form of payments were used.

One sold for $775,000 after 82 days

With an in built wine cellar and a full on the market, a $100,000 less than basement, this water front property in

The lowest price sold for

the original asking price.

$592,500 and the highest one

Harbor Island, Lakewood sold after only

went for $660,000.

14 days on the market.

3 homes in this price range

The other property sold for $774,675 after being on the market for

The home sold for $635,000, about a 265 days. This home was a new built

range also came up for sale during

$100,000 less than the original asking

and the 265 days included all the days

the month of June 2013.

price of $738,750.

for the construction as well.

$600,000 $699,999

$700,000 $799,999

$800,000 $899,999

$900,000 $999,999

$1,000,000 $1,999,999

$2,000,000 and Above

# of Homes Sold

4

1

2

1

2

0

Paid with Cash

0

1

0

0

1

0

Conventional Loan

4

0

2

1

1

0

$900,000 to $999,999 1 home sold in this price range in Ahwatukee last month.

This custom home in Ahwatukee Custom Estates was originally listed

$1,000,000 to $1,999,999 2 homes sold in Ahwatukee for

$2,0000,000 plus Ahwatukee currently has only 6

over $1,000,0000 in the month of

homes priced $2,000,000 and higher,

June .

available for sale.

One home sold for $1,500,000,

No new ones came up for sale in

for $1,050,000 and sold for $950,000

less than the original asking price of

June and there were none purchased

after only 46 days on the market.

$1,899,999. The other sold for

in June as well.

The new buyer paid for the home with a conventional loan.

Ahwatukee also saw 2 new homes

$1,200,000 after being on the market for only 34 days.

One home was paid for in cash

in the price range coming on the

and the other was paid for with a

market in June. Both are available.

conventional loan.

One in Black Rock Canyon priced

5 homes priced over a million

Homes in the price range do take a much longer time to sell because only few people can aord to buy residential properties in this price range.

The higher the cost of a home, the lower the number of people who can

at $979,000 with 3 bedrooms & 4359

dollars but less than $2 million came

aord it or have the purchasing

sq. ft. The other in Ahwatukee Custom

up for sale in Ahwatukee in June.

power to buy. That is why these

Estates also priced at $995,000 6 bedrooms and 4463 sq. ft.

3 were in zip code 85048, 1 in 85044 and 1 in 85045.

home have been on the market for an average of 256 days so far.

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

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Audrey Washington website: www.alwmassage.com

AHWATUKEEMONTHLY

4530 E Muirwood Dr Suite 114 Phoenix, AZ 85048 Phone: 480-­‐221-­‐8099

480-221-8099

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:

ALW Massage

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 JULY 2013

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