AHWATUKEE REAL ESTATE, JULY 20, 2022

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REAL ESTATE

Real Estate Guide Housing market shifts toward more buyer control BY GEOFF GREEN AFN Guest Writer

W

ow, according to Time Magazine, Arizona experienced a residential real estate price appreciation of 27.5% from the Q1 2021 to Q1 2022, the only state that appreciated faster was Florida with a growth rate of 29.8%. Both Arizona and Florida experienced limited housing supply and rocketing demand – until recently. My analysis was that price growth was

SPO OTLIGHT home

higher than that in the Phoenix area. The question to ask is how much of that value is going to disappear as the market slowly shifts to a more buyeroriented market? Let’s look at the factors that have affected both the supply and demand for housing across the Greater Phoenix area, then we’ll examine the Ahwatukee market in particular.

FEATURED LISTING

Must see! True Custom Home located in the beautiful, gated community of Canyon Reserve.

Supply rockets upward

More sellers are placing their properties on the market sensing that now might

see MARKET page RE2

Bonny Holland

Geno Ross

5 Acre Lot /Listed for $499,000

See Page 6

See Page 6

SPO OTLIGHT home

SOLD

ONE OF THE MOST AMAZING LOTS AVAILABLE IN AHWATUKEE!!

Offered at $1,999,000 Offered at $2,650,000

Enjoy superb mountain views from custom single-level luxury home in gated Summerhill Estates.

Mike Mendoza

See Page 6

Listed for $1,450,000

Ahwatukee’s #1 Team for Over 30 Years 480-706-7234

D!

www.MendozaTeam.com

Mike Mendoza

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LD

L SO

SO Sanctuary - Front

Sanctuary - Back

Tapestry Canyon - Front

Tapestry Canyon - Back

Stunning panoramic views from privately gated luxury retreat adorned with vibrant imported Montana stone accents. Prime elevated preserve lot with casita. 5 br, 5 ba with 6,455 sq. ft. Resort-style backyard with negative edge pool, custom artwork, fireplace and built-in DCS bbq.

Majestic Southwest contemporary estate on elevated 1.24-acre hillside lot with stunning mountain and city light views. 5 br, 4.5 ba with 4,924 sq. ft. Resort-style backyard with slate patio, built-in Viking grill, pool, spa, koi pond and ultimate privacy.

Listed for $1,950,000

Listed for $1,325,00


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