Is Sun Lakes, AZ a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Sun Lakes is a neutral's market

Buyer's
Market

Difference Since February 2023

At the same time last year, Sun Lakes was a Seller's Market.

Key Takeaway

Sun Lakes is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.

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

-$14,250(-2.9%)

Key Takeaway

Homes in Sun Lakes have sold for 2.9% less than they did a year ago.

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

# BEDSFeb 2023Feb 2024CHANGE
1 --
N/A
2 $465K$439.9K
-5.4%
3 $550K$550K
0.0%
4 $717.5K$820.5K
+14.4%
5+ --
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 2024Feb 2024CHANGE
133158+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

# BEDSJan 2024Feb 2024CHANGE
1 00
0.0%
2 85102
+20.0%
3 4553
+17.8%
4 33
0.0%
5+ 00
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 2024Feb 2024CHANGE
2726-3.7%

Asking Price vs. Sold Price

17 Homes Were Sold
Under Asking

5 Homes Were Sold
At Asking

4 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Sun Lakes, you may be able to get a good deal. 65.4% of homes here sold below asking price last month.

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 2023Feb 2024CHANGE
74 Days37 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

Breakdown of Home Sale Times

Key Takeaway

Many homes in Sun Lakes are selling fast, if you're buying plan to act quickly.

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.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 27 Days Ago

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