Wondering what Phoenix retirement communities gained the most home value in 2018?
Thinking of selling or buying in one of the West Valley of Phoenix retirement communities in 2019? Then, you want and need to know how the real estate market did specific to the retirement community you live in or are considering buying into. So let’s delve into the latest Phoenix retirement community home value update 2018.
Snowbird season is the top time to sell and buy. Home value increase or decrease helps determine a selling or purchase price. As a Realtor, I look at the comps and the general trend in the community. Home values increasing with fewer days on the market means we can be more aggressive with a higher sales price.
The numbers are based on the median home value for 2018 compared to 2017. Note these numbers are for resale homes so communities still building do not include those sales unless spec homes put on the Arizona MLS.
Phoenix Retirement Community Home Value Update 2018 (ranked in order)
|Retirement Communities||Home Value Change|
|#1 Corte Bella||11.34%|
|#2 Sun City West||9.51%|
|#3 Sun City||8.33%|
|#4 Sun City Grand||8.16%|
|#5 Arizona Traditions||7.40%|
|#6 Sun City Festival||4.0%|
|#8 >Victory at Verrado||.93%|
|#10 Trilogy at Vistancia||.36%|
|#11 Sun Village||-5.79%|
The top four retirement communities to see the most home value increase above 8% are Corte Bella, Sun City West, Sun City and Sun City Grand. The newest retirement communities like Victory at Verrado and CantaMia had little resale with slight appreciation. More established retirement communities still building new saw small increases mostly due to new homes sold through the builder not going on the MLS. These communities include Sun City Festival, PebbleCreek and Trilogy at Vistancia. Over time, as more newer resale homes come onto the MLS, we should see median home values come up.
If you are interested in following the real estate market in the top 3 retirement communities I work in checkout: