AFN Real Estate Guide - December 2020

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REAL ESTATE

Real Estate Guide Market trends show no sign of improving for homebuyers AFN NEWS STAFF

H

ow tight is the availability of affordable homes in the Valley? The Cromford Report, which closely monitors the Phoenix Metro, recently shared a couple stark facts. Stark Fact 1: “The huge suburban sprawl that is Queen Creek and San Tan Valley has only 42 re-sale single-family homes at $400,000 or less. Not so long ago there were a couple of thousand under $200,000 to choose from.” Stark Fact 2: “In March 2009 the average asking price in Queen Creek and San

Tan Valley was under $207,000. Today it is over $613,000.” And Stark Fact 3: Among the 7,159 active listings in the Phoenix Metro market a week ago, only 1,554 homes were priced below $400,000. And of those 1,554 homes, Phoenix, Mesa and Sun City were hosts to 455, 132 and 112 of them, respectively. To no one’s surprise, the Valley’s housing is wrapping up 2020 pretty much as it began – except that supply is getting tighter and prices are getting higher. “Despite a seasonal slackening in de-

��� MARKET ���� RE2

SPOTLIGHT TLIGHT home

Majestic Southwest contemporary estate with stunning panoramic views on private hillside lot in exclusive gated Tapestry Canyon.

Listed for $1,450,000

See SeePage Page6 6

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Pristine & Classy Gated Calabrea Estate! On A Premium 2/3 Acre Hillside Lot

Stunning custom basement home w/ 4 car garage in Ahwatukee Foothills’ prestigious gated community of Calabrea.

Rachael Richards

Listed for $1,325,000

Mike Mendoza

Geno Ross

Listed for $1,339,000

See SeePage Page66

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

www.MendozaTeam.com

Mike Mendoza

D!

L SO

Sanctuary - Front

Sanctuary - Back

Circle G at Riggs Ranch - Front

Circle G at Riggs Ranch- 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.

Estate living with refined tranquility in exquisite setting. Meticulous stonework adorns entire exterior. 7 br, 4.5 ba with 8,873 sq. ft. Custom iron doors lead to massive covered patio with pavers, built-in bbq, heated pool with waterfall and slide plus gorgeous landscaping with fruit trees and koi pond.

Listed for $1,950,000

Call for Details


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