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
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www.MendozaTeam.com
Mike Mendoza
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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