Are homes appreciating in Sun Lakes, AZ?  That’s a question I get almost daily due to the news of how the Phoenix Metro area has seen 25% appreciation in the last 12 months.

Unfortunately, we are not seeing that appreciation frenzy in Sun Lakes, or any active adult community that I am aware of.

Here’s a chart that shows the last 2 years of home appreciation and it’s easy to see we’ve fallen over the last 2 years.  BUT, the good news is our values as of May 2012 are slightly higher at a median of $184,500 than they were 1 year ago May 2011 at $182,625.  A great sign that our Sun Lakes real estate market is correcting.  The year before in May 2010, Sun Lakes median sales price was at $230,000, quite a fall from 2010 to 2011 but encouraging that this past year we are seeing a little appreciation!

Stay tuned!

 

The Sun Lakes real estate market typically trails the real estate market of the surrounding non-active adult communities by about a year.

Why does this matter?  Because the Phoenix Metro real estate market is exploding.  Low inventory is creating a supply and demand issue.  Multiple offers are received on properties listed for just a few hours with bidding wars driving prices up!

Here’s a chart that illustrates the average sales price per square foot in the Phoenix Metro area over the past couple years where it’s easy to see how quickly values are rising.

Prices started going up when inventory started going down.  Here’s a snapshot of the inventory of homes for sale in the area over the last year.  We are down to below half of the number of homes for sale this year as compared to last year at this time.

This is great news for Sun Lakes homeowners because we are starting to see the fall of the home inventory in Sun Lakes as well.  Will it create a supply/demand issue in Sun Lakes?  If history is any indicator, the answer to that question would be “most likely”.

The great news for buyers is that Sun Lakes is not seeing bidding wars at this time.  So, if you’re in the market for a home, it’s a great time to be a buyer here.  Prices are lower than they have been for years and if we’re really as close to the “bottom” of the real estate market, we’ve got nowhere to go but up.  So, don’t wait to long or you’ll be just like buyers in the rest of the Valley saying…”we wish we would have bought sooner.”

Amy Jones Group – RE/Max Infinity
2450 S. Arizona Ave   Chandler, AZ
Phone: 480-250-3857 
Email:  Amy@AmySellsAZ.com
Blog: http://www.sunlakesblog.com/

 Top Producing Sun Lakes REALTORS Sun Lakes Residents

Why do home buyers LOVE Sun Lakes, Arizona?  It’s real simple.

When you purchase a home in Sun Lakes, you’re purchasing a country club lifestyle.  Golf Courses, Swimming Pools, Tennis, Fitness Centers, Racquet Ball, Pickle Ball, Billiards, Clubhouses, Restaurants, Miles of Walking Paths…the list goes on.

My buyers, Bill & Dianne Stoutenberg from Alberta Canada said it best~

“Amy had asked us what type of lifestyle and property we were interested in? We did not realize how important the lifestyle question was until we looked at various properties in Mesa, Gilbert and Chandler. Amy showed us several properties in those areas and we quickly realized we did not want to buy just another home in another city suburb. We wanted a winter vacation country club lifestyle.

Amy showed us several properties in Sun Lakes Oakwood area and the associated amenities. We were impressed with the 27-hole golf course, 3 swimming pools (heated for winter use), the beautiful club house, other recreation facilities and community security. The area was kept in immaculate condition and the people we met were very friendly.”

So what is the age demographic in Sun Lakes? Here’s where most people have a mis-perception.  Sun Lakes differs from many active adult communities.  The 2010 census profile best illustrates this point.

Population:  13,505

Ages:
Over 55:   12,317
Under 55:   1,188

Yes… you read it correctly almost 10% of the population living in Sun Lakes, AZ is under the age of 55 (including…my husband & I!)

Federal law (Fair Housing Amendments Act of 1988) to Title VIII of the 1969 Civil Rights Act requires communities intended for residents 55-years of age or older only need have 80% of the residents who must be 55-years of age or older.

This is great news for the buyer today who wants a country club lifestyle and fits the age criteria!

Amy Jones, REALTOR
RE/Max Infinity ~ www.YourSunLakesLifestyle.com ~ 480-250-3857