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December 2023 Sun City West Market Report

December 2023 Sun City West Market Report-What to expect during snowbird season

Sun City West Market Report for December 2023. This report provides valuable insights to help buyers and sellers make informed decisions in the present market. With the onset of January, the peak snowbird season commences in Phoenix, resulting in an increased number of homes available for sale and a surge in buyer activity. This is an exciting time for both buyers and sellers, as there are more opportunities to find the perfect home or sell your property at a competitive price. Let us now explore the anticipated expectations for both buyers and sellers.

What’s the Housing Market like in Sun City West? Strong Sellers Market

Sun City West is currently in a Seller’s Market. This means that the demand for homes is higher than the supply, leading to competitive pricing and quicker sales.

Months of Inventory

Let’s start with the Months of Inventory, which currently stands at 2.5. This metric represents the number of months it would take to sell all the available homes on the market if no new listings were added. A lower supply indicates a seller’s market, where demand exceeds supply, leading to increased competition and potentially higher prices. A balanced market between buyer and seller is 6 months of inventory.

12-Month Change in Months of Inventory

Now, let’s delve into the 12-month change in Months of Inventory, which shows a significant decrease of -12.28%. This decline indicates a tightening of the market, with inventory levels shrinking over the past year. This trend suggests that buyers may face more competition, as there are fewer homes available for sale.

Median Days on Market

Moving on to the Median Days on Market, we find a relatively low figure of 39 days. This metric measures the average number of days it takes for a home to sell. A shorter time on the market is often associated with strong demand and a competitive market. Sellers can take advantage of this by potentially receiving offers quickly, while buyers may need to act swiftly to secure their desired property.

List to Sold Price Percentage

Next, let’s explore the List to Sold Price Percentage, which stands at an impressive 98%. This metric reveals that, on average, homes are selling very close to their listed price. This suggests that sellers are achieving their desired price, while buyers may need to be prepared to make competitive offers.
Median Sold Price

Median Sold Price

Finally, we come to the Median Sold Price, which currently stands at $370,000. This figure represents the midpoint of all the sold prices. It has increased by 3.9% from last month, indicating appreciating property values in our area.

Thank you for reading the December 2023 Sun City West Market Report. As you can see, Sun City West is currently experiencing a seller’s market, with homes selling quickly and at high prices. If you’re considering selling your home, now may be an excellent opportunity to take advantage of these favorable conditions. However, if you’re in the market to buy, you might face some challenges in finding your dream home and competing with other buyers. Nonetheless, with the right strategy and guidance, you can still achieve your goals.

If you have any questions about Sun City West or need personalized advice, feel free to reach out to me. I’m here to help you navigate the ever-changing market and make well-informed decisions. Stay tuned for more updates and insights on Sun City West real estate, and don’t forget to sign up for the monthly report below.

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