In August, the most expensive residential home in Ahwatukee sold for $1.9 million. The unique, custom built 6,000-square-foot home located in the Sanctuary subdivision sold at $317 per square foot and was quickly off the market in 13 days.
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The second most expensive home sold last month for $1.3 million at $211 per square foot. The Foothills home is located in the gated community of the Tapestry Canyon subdivision. The 6,150-square-foot property was off the market in 77 days.
The lowest-priced home was purchased for a mere $87,000 at $126 per square foot. The 693-square-foot condominium was off the market in 21 days.
In the month of August, a total of 121 residential homes sold in the Ahwatukee Foothills and surrounding areas. The total list volume was $39,968,190, while the total volume of sales was $918,846 less at $39,049,344.
The average initial list price was $330,316, the average mean selling price was $322,722 at $143 per square foot. For all homes sold during the entire month of August, the average time on the market was 57 days.
Significant increases in July 2013
In July, a total of 166 residential homes were sold. The total sold volume was considerable at $53,191,723. The lowest-priced home sold for $85,000, while the most expensive home sold for $1.2 million. The average mean price was $320,432 at approximately $143 per square foot. On average, in July, homes were off the market 16 days sooner than last month at 41 days.
While the average price per square foot ran exactly the same for both July and August at approximately $143, the total number of residential homes sold in August showed nearly a 27 percent decrease compared to the month of July.
The number of homes sold from July to August 2013 showed a significant decrease. These numbers could be alarming; however, there are many factors that could have contributed to the cause of the significant decrease in sales seen in August.
In July, Ahwatukee and the entire Phoenix metropolitan experienced a significant increase in the prices which residential homes sold for and the total sold volume of residential homes. The volume of this particular increase was distinguished and appeared to be greater than previous years.
A decrease between the sold volume and the total number of residential homes sold from July to August is seen nearly every year in Ahwatukee and all over the Valley. In August 2012, the total sold volume was approximately $2.4 million less than the total sold volume of residential homes in July 2012. The total number of residential homes sold decreased by nearly 5.5 percent from July to August 2012.
• Miss-Ashley Kendrick is a Realtor serving Ahwatukee and surrounding areas. Reached her at MAKRealEstateAgent@gmail.com or (480) 658-7495.