Ahwatukee housing market may be improving - Ahwatukee Foothills News: News

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Ahwatukee housing market may be improving

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Posted: Tuesday, August 2, 2011 11:00 am

Those trying to sell a home in Ahwatukee Foothills have no need to fear as long as they have the right price.

"People that have to sell, if they price it right, the market is very good," said Ahwatukee broker Allen Henderson. "They can be gone in 97 days if they price it right. Most people price their home 10 to 15 percent above the market and have at least one price reduction. That doubles their marketing time."

Henderson said so far this year the market has improved compared to last year. In the first half of 2010 730 homes were sold in Ahwatukee. This year, 828 have sold. The average sale price did drop from $240,162 to $219,089.

"I think it's improving very, very slowly," Henderson said. "We've sold more houses, prices dropped, but we have more inventory to clear out. I think the market is improving. In a declining market it's hard to say it's improving but you have to look at the volume we've moved out and have to move out."

The high sale for a home in Ahwatukee so far was $3,250,000 while the low was $34,125. That's higher than the high and lower than the low of 2010.

For prospective buyers or sellers, Henderson says there's three types of homes on the market. Foreclosures have been sitting for some time and need a close inspection.

Short sales also need a good inspection, but Henderson says the banks are often difficult to work with and can take months to respond to offers.

For those selling their home in a regular sale it's all about price, location and condition. Henderson says Ahwatukee is an excellent area to sell a home and we're on track to beat last year's amount of homes sold.

"I can't think of any area that is particularly hot," said Henderson, who has many websites about the housing market across Ahwatukee. "The further you get from the I-10 there's less of a market because people want to be closer. There's also the question about the freeway going in that a lot of folks are hesitant to buy out there so it's a little slower."

• Contact writer: (480) 898-7914 or ahurtado@ahwatukee.com

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