AhwatukeeMonthly November 2013

November 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 for sale listed in the ©2013, Arizona Regional Multiple Listing Service, Inc. To receive an update for a specific subdivision, area or price range, please contact Dorette, using the information on the back.

Is it a Buyer’s Market in Ahwatukee Now? The Number of Homes Being Sold is Less than The Number of Homes coming up for Sale !

Just a few months ago, the Phoenix Area including Ahwatukee experienced a shortage of homes available for

and just stopped looking for homes to buy.

With lots of people dropping out of the home buying

sale. There were more home buyers out there looking to

process, the real estate market in the whole Phoenix area

buy a home than the number of homes available to buy,

including Ahwatukee, has now taken a turn and the tables

creating a seller s market.

seem to be turning in favor of buyers, who now have more

Lots of people looking to buy a home were faced with so much competition and could not get their offers to buy a

choices and less competition.

The rate of selling is less than the rate at which homes

home they loved, accepted by the home owner selling their

are coming up for sale. As a result, homes are taking a

home.

much longer time to sell than in the previous months.

Not only did the shortage of inventory work against most of the aspiring home owners but also the type of

Number of Homes

Oct 2013

Oct 2012

Sept 2013

Homes That Came Up for Sale

163

161

161

Homes Sold During the Month

115

121

113

payment being used to buy the homes. The market was flooded with people looking to buy homes for sale with cash and those using mortgages were left behind.

Most of these potential buyers became so disappointed that they gave up on their dreams of ever owning a home

www.AhwatukeeScoops.com

AHWATUKEEMONTHLY November 2013

Ahwatukee Real Estate Activity Priced Below $600,000 Last Month, 115 homes were successfully sold in all 3 Ahwatukee Zip Codes of 85044, 85045 and 85048. During the same month 163 Ahwatukee homes, condo units and town homes were also put up for sale.

The least expensive property that sold during the month of October 2013 was a condo unit for sale in Portofino, which is located on 40th St and Chandler Blvd. This 1 bedroom, 1 bath condo was a foreclosure and was put up for sale at an original asking price of $89,900 on May 7, 2013. It was sold after 68 days for $10,000 less than the original asking price at $79,900. This was the only sale in Ahwatukee below $100,000 in October 2013.

44 of the Ahwatukee Homes that sold last month were priced between $200,000 and $299,999. This price range made up about 38.3% of all homes sold in Ahwatukee priced below $600,000 in October of 2013. Out of the 44 transactions that took place, 8 of the new home owners purchased their new home with cash, 10 used FHA loan, 22 used a conventional loan and 4 used a VA loan.

$0 $99,999

$100,000 $199,999

$200,000 $299,999

$300,000 $399,999

$400,000 $499,999

$500,000 and $599,999

1

25

44

27

12

6

Average Price

$79,900

$157,352

$256,516

$336,772

$447,792

$526,250

Highest Price Sold

$79,900

$189,900

$305,000

$394,000

$476,500

$562,000

68

29

58

61

71

100

# of Homes Sold

Average Days to Sell

© 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. © 2013 ARLMS AND FBS

During the month of October, out of the 163 properties that were put up for sale by owners, 5 of them were sold before the month ended. They sold at an average of 98% of the original asking price. The highest priced one of the 5 was sold for $295,000 and the lowest priced one was $118,000.

# of bedrooms

# of bathrooms

Size

Original

Final Sold

# of Days to

(sq. ft.)

Asking Price

Price

Sell

14847 S 27TH ST

4

2

2120

$289,000

$285,000

26

1220 E WILDWOOD DR

3

3

2191

$297,500

$295,000

13

4843 E CORRAL RD 3

2

1.5

960

$118,000

$118,000

7

5206 E HALF MOON DR

3

2

1273

$179,000

$169,000

9

3

2

1175

$155,000

$155,000

0

Property Address

10615 S 48TH PL

© 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. © 2013 ARLMS AND FBS

www.AhwatukeeScoops.com

AHWATUKEEMONTHLY November 2013

Ahwatukee Luxury Real Estate Update The Ahwatukee Luxury Market is seeing more homes coming up for sale. Last month there were 12 properties that came up for sale in Ahwatukee priced over $600,000.

The highest priced Ahwatukee luxury home that came up for sale had an original asking price of $2,496,000. This home is located in Ahwatukee Custom Estates and is approximately 8500 sq. ft.

5 of the Ahwatukee luxury homes that came up for sale were in Zip Code 85044, another 5 in zip code 85048 and the other 2 were in zip code 85045.

Out of the 12 that came up, none of them sold during the month but 2 of them are in the process of being sold.

4 Ahwatukee Luxury homes were successfully sold last month after an average of 184 days on the market and an average of 94% of the original asking price.

www.AhwatukeeScoops.com

Nick’s Computer Guys Nick's Computer Guys provides information technology services to small business and residential clients throughout the Valley. They can come to your location, work remotely if feasible, or you can bring your ailing computer to their Ahwatukee Foothills shop.

They provide personalized IT services including server and network installation and maintenance, computer repair, and malware remediation to small business and residential clients.

Their services run the gamut from setting up and maintaining servers and networks, to virus and malware removal and hardware repair.

They speak both Windows & Mac, and service all brands.

Mission: Our goal is simple: to treat you the way we want to be treated: with uncommon courtesy, respect for your time and budget, and appreciation for your business website: www.nickscomputerguys.com

480-242-4997

AHWATUKEEMONTHLY is a Monthly Ahwatukee Homes and Real Estate Market Update Publication by Dorette Oppong-­‐Takyi

Read more on the Ahwatukee Real Estate Scoop and other News on www.AhwatukeeScoops.com 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:

http://www.LuxuryLivingInPhoenix.com

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

Nick’s Computer Guys 16002 South 7th Drive Phoenix, AZ 85045 Phone: 480-­‐242-­‐4997

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 November 2013

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