05/01/2022
Kathleen Lewek’s Sun City West 4/30/22 Status Update
My data is obtained using the Arizona Multiple Listing System and adjusted to only reflect homes with access to the Sun City West Recreation Centers. As such, there are some minor distortions due to Agents inputting data incorrectly (i.e. a single family detached home input as an apartment/patio home, a home located in Sun City input as Sun City West). Since Corte Bella and other communities on the east side of El Mirage Road are in the Sun City West zip code but do not have access to the Sun City West Recreation Centers I attempt to adjust my figures accordingly. Although I normally hold off posting statistics until after allowing time for any needed adjustments, I elected to post this information as of 5/1/22.
Located in the Phoenix West Valley area approximately 30 miles west of Phoenix/Scottsdale, Sun City West continues to be a nationally recognized premier Active Senior Golf Community which requires one person living in any unit here to be at least 55 years young and offers tennis, handball, racquetball, paddleball, whisper ball, pickle ball, platform tennis, golf, bowling, workout facilities, swimming, 100 clubs, and much more. Sun City West is a 7,100 acre community with 16,900 homes primarily developed between 1978 and 1998 with 4 recreation centers, 4 regulation golf courses, 3 executive courses, 1 private and 1 public golf course, shopping centers, churches, banks, medical buildings, etc., located areas. The Fitzpatrick Ranch area includes homes built after 2005. Check out the Recreation Centers News at www.rcscw.com and learn more about what’s going on.
Sun City West ended April 2022 with 69 Active listings in the MLS vs. 21 a year ago of which 60 were Single Family Detached homes (vs. 24 a year earlier), 4 were Gemini homes, and 5 were Patio/Apartment style homes. The least expensive Active Listing is for a 944 s.f. Apartment style home listed at $215.9k vs. a 1,401 s.f. Apartment style unit reduced to $204.9 a year earlier and the most expensive is a 2,744 s.f. SFD home with a casita for a total of 3 bedrooms, 3 bathrooms, 5 car garage initially built in 1979 on a 12,600 s.f. lot vs. a 2,164 s.f. 2 bedrooms, 2.5 bath, 3 car garage home built in 1995 listed at $675k during the same period a year ago.
There were 154 Closed transactions in April vs. 135 a year ago; 127 SFD closed at an average price of $438k vs. 111 SFD closed at an average price of $351k in April 2021. The 16 golf course lot SFD homes closed at an average of $627k vs. the 22 golf course lot SFD homes closing at an average of $440k during the same period in 2021. Closed prices ranged from $187k for an apartment style home (up from $176k a year ago) to $935k for a 3,171 s.f. 3 bedroom, 2 ½ bathrooms, 2 ½ garages, with a pool and on a golf course lot that had been on the market for 50 days before selling at the List Price (vs. $605,000 for a 2,629 s.f. remodeled golf course lot home built in 1993 on a 12,771 s.f. lot that was on the market for 7 days a year earlier). The mid prices for closed transactions in April included the following: overall $414.4k (up from $330k a year earlier); Gemini $342k (vs. $270 in 2021), Apartment/Patio style home $252.9k (up from $217.6k); average SFD $438k (vs. $351k), SFD not on a golf course lot with a private pool $490.8k (vs. $379k), there were 4 SFD on a golf course lot with a private pool which closed at an average of $700k vs. one a year earlier which closed at $515k.
I’ve noticed homes closing for as much as $100k over List Price and $65k less than List Price with 25% of the Active SFD homes having reduced their List Price. Since there are 118 homes in some form of Pending, I expect the Closed transactions in May to be somewhat similar to April. Due to the increase in Active listings and longer Cumulative Days on Market, it will be interesting to see what happens to prices going forward. Home prices are impacted by inventory, location, size, type and age of residence, amenities, and the condition of the home (i.e. move-in ready versus needs upgrading and/or repairs). When selling, please do not “over-improve” your property in the hope of getting the expenses recouped but do consider the advantages of not needing to state the home needs repairs. Always keep in mind YOUR goals needed in pricing and preparing the home for sale. When purchasing, please use a Realtor that specializes in the area you are buying to take advantage of that person’s knowledge.
As a resident of Sun City West I enjoy following the market here. If you are curious about your homes potential sales value (even if you are not thinking of selling), I am available to give you my analysis at no cost. If you ever have any questions, please don't hesitate to text me at (623) 396 9157.
Wishing all Mothers a very Happy Mother's Day! You are all my heroes.
Arizona Golf Retirement Community in Sun City West an Active Adult Retirement Community in AZ, Best golf retirement community in Sun City West AZ. 55+ senior living community.