Sun Lakes AZ Real Estate Market Update September 2011

Everyone is talking about real estate in Sun Lakes. Spend time at the pool or restaurants and you can often hear discussions about home values and recent sales.

The truth is in the numbers provided below. What does it all mean? Well, in a nutshell, our values in Sun Lakes have fallen but not as much as they have in other areas of the Valley.

Homes are selling, but the homes that ARE selling are priced where they need to be. It's great to be hopeful that as a seller, you will get more than market value for your home, but the reality is you will often waste precious time in a market that is not stable with values that could drop further. So you eventually end up selling your house for less than you would have if you'd priced it correctly at the onset. Now, not only do you have to reduce..reduce..reduce...but your home is now stigmatized and will sell even lower than market value in most cases. Keep your eye on the BIG PICTURE!

I caution sellers that there will always be agents who will list your home for the price you think your home is worth..which may be thousands above market value. The fact of the matter is you will only to have to reduce your price eventually and you've wasted precious time.

First, I would encourage you to be an educated seller and if you really want to sell your home, make sure you have all the sales data. Second, investigate the agents you interview. Does the agent you are interviewing have a lot of listings? That sounds good to you doesn't it? BUT there could be reasons that they have all those listings. Are many of their listings overpriced? You may want to ask this agent how many days their listings have been on the market? Because, the truth is...anyone can list a home but most sellers don't just want to list it...they want to sell it!

No hype...just facts!

There are 204 homes for sale in Sun Lakes. Here's the breakdown by community.

25 Homes sold (closed) in August 2011

317 Homes sold Sun Lakes this year, 1/1/2011 - 8/31/2011

How do Sun Lakes sales in August 2011 to sales in August 10 years ago?

Sun Lakes Average Sales Price per Square Foot was at an all time high in June of 2006 at $179.53/sf.

Today we are almost in line with October 2004 Sales Price per Square Foot at 112.46/sf.

The Annual Median Sales price in Sun Lakes saw a high in December 2007 at $320,000.

The Annual median sales price of $200,000 in August 2011 is just slight lower than it was in December 2004.