It’s all good in Ahwatukee! The supply of homes coming onto the market has not caught up with the demand for housing in our community. This is pushing up the price of homes. In ZIP codes 85044, 85045 and 85048, the median sales price in January was $216,750, up 19.8 percent from $181,000 in January of 2012. The average sales price in January was $255,614, up 17.4 percent from $217,718 in January of 2012 and up 6.6 percent from $239,813 last month. January 2013 was the highest level compared to January of 2012 and 2011.
Although more homes are coming on the market, up 20.4 percent for January, the demand is still higher than the supply. Average Days On Market (DOM) for January was 43, down -23.2 percent from 56 DOM in January of last year.
The selling price per square foot was $123 for January, up 18.3 percent from $104 in January of last year. In the same time frame homes have been selling for an average of 97.7 percent of list price.
Inventory is beginning to climb with 179 homes added to the market in January, up 17.0 percent from 153 homes in January of last year. Today, we are at 2.9 months of inventory, which is still below the “norm.”
So what does this all mean for homeowners who are thinking about relocating? It means that you are building equity and have a better chance of selling your homes without a negative balance at close of escrow. All these trends continue to indicate a much healthier market for sellers in the Ahwatukee and Foothills areas.
Based on information from Arizona Regional MLS.
• Linda Berg is branch manager and designated real estate agent for the Ahwatukee/Tempe office of Coldwell Banker Residential Brokerage. She has been a Realtor since 1978 and past-president of the Southeast Valley Association of Realtors. Reach her at (480) 753-3122 or www.real-estate-phoenix.com.