Is Sun Lakes, AZ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since February 2023
At the same time last year, Sun Lakes was a Seller's Market.
Housing Prices in Sun Lakes, AZ
How much do homes in Sun Lakes, AZ cost?
Median Sold Price
$470,750
$257/sqft
Based on all homes sold in the last 12 months.
Difference Since February 2023
Summary: The median home sold price in Sun Lakes was $470,750 in February 2024, down 2.9% from last year, and the median price per square foot was $257.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Feb 2023 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $465K | $439.9K | -5.4% |
3 Bedrooms | $550K | $550K | 0.0% |
4 Bedrooms | $717.5K | $820.5K | +14.4% |
5+ Bedrooms | - | - | N/A |
Summary: Sun Lakes housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 5.4%, 3 bedroom homes did not change, 4 bedroom homes increased by 14.4%, and 5+ bedroom homes did not change.
Housing Supply in Sun Lakes, AZ
How many homes are available in Sun Lakes, AZ?
Number of Homes For Sale
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
133 | 158 | +18.8% |
Summary: The Sun Lakes real estate market had 158 homes for sale in February 2024, a 18.8% increase compared to January 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Jan 2024 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 85 | 102 | +20.0% |
3 Bedrooms | 45 | 53 | +17.8% |
4 Bedrooms | 3 | 3 | 0.0% |
5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Sun Lakes housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 20%, 3 bedroom homes increased by 17.8%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
27 | 26 | -3.7% |
Asking Price vs. Sold Price
17 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Summary: A total of 26 homes were sold or pending in Sun Lakes in February 2024, down by 3.7% month-over-month. Of the 26 sold homes, 65% were sold under asking, 19% were sold at asking, and 15% were sold over asking.
Days on Market for Sun Lakes, AZ
How long does it take to sell a home in Sun Lakes, AZ?
Average Sale Time
Feb 2023 | Feb 2024 | CHANGE |
---|---|---|
74 Days | 37 Days | -49.1% |
Summary: Homes in Sun Lakes had an average of 37 days on market in Feb 2024, down by 49.1% compared to last year.
Breakdown of Home Sale Times
14 Homes Were Sold
Under 30 Days
9 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Summary: During February 2024, 26 homes were sold in Sun Lakes; 54% of homes were sold within 30 days, 35% of homes were sold within 30 to 90 days, and 12% of homes were sold over 90 days.