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2023 Phoenix Retirement Community Home Value Update

2023 phoenix retirement community ho

Phoenix Retirement Community Market Report, December 31, 2023

Table 1 below shows a 12-month snapshot of home values for December 2023 through December 2022. The home value change in 2023 varies widely for Phoenix retirement communities. The numbers are skewed for communities that are currently building new homes. The Arizona MLS database does not include new construction homes unless they are placed on the MLS as active listings. These are usually spec homes.

The table contains six resale-only communities (Trilogy, The Grand, Sun City West, Sun City, Arizona Traditions, and Corte Bella). Using these six communities provides more accurate data. So that being said, the average home value decrease for 2023 is -6 %. Here’s an article on the 3rd quarter home value update.

(Table 1)  Home Values 4th Quarter 2022 (year end numbers for 2023)

Retirement Communities
2023 Median Estimated Value
2022 Median Estimated Value
12 Month Home Value Change +/-
#1 Trilogy at Vistancia
$684,000
$680,000
1%
#2 CantaMia**
$464,000
$468,000
-1%
#3 PebbleCreek**
$530,000
$540,000
-2%
#4 The Grand
$445,000
$475,000
-4%
#5 Sun City Festival**
$466,000
$497,000
-6%
#6 Sun City West
$373,000
$400,000
-7%
#6 Sun City
$280,000
$301,000
-7%
#7 Arizona Traditions
$393,000
$425,000
-8%
#8 Corte Bella
$565,000
$635,000
-11%
#9 Victory at Verrado**
$555,000
$650,000
-15%
#10 Sterling Grove**
$676,000
$924,000
-27%
Copy Right 2024
Sharon Rowlson
SharonRowlson Logo www small 2023 Phoenix Retirement Community Home Value Update
*Communities are ranked by home value change in 12 months (Jan-Dec 2023) high to low. There is a tie for 6th place.
**These communities are currently building new homes, which are not included in MLS data unless a spec home.
***Info deemed reliable, but not guaranteed.
2023 Phoenix Retirement Community Home Value Update 3

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