Phoenix Retirement Community Year to Date Market Update June 2020
Hot, Hot, Hot here in sunny Arizona. We are under an excessive heat warning over the next couple of days. Yesterday we hit 118 degrees. July and August tend to be our hottest months. Having lived here for over 12 years, the hottest I’ve experienced is 123 degrees. Thank goodness for air conditioning, low humidity, and pools.
Covid19 still has recreation centers shut in our areas retirement communities. Outdoor activities are still happening and outdoor pools are open. Masks are required when in public.
As we have passed the halfway point in the year, let’s explore where we stand year to date with housing in the top 10 Phoenix retirement communities.
We will look at:
- Home values
- Average Sale price
- Number of Listings
- Number of Sold Listings
PHX Retirement Community YTD Home Values JUNE 2020 (Table 1)
*Includes resale and spec homes listed on the MLS. Not new builds.
**Ranked in order of home value increase.
|Retirement Communities||Average Sale Price YTD||Home Value Change YTD|
|#2 Sun City||$218,625||10.27%|
|#3 Sun City Festival*||$353,017||8.77%|
|#4 Corte Bella||$436,450||8.6%|
|#5 Arizona Traditions||$287,900||8.6%|
|#6 Sun City West||$283,617||7.02%|
|#7 Victory at Verrado*||$425,383||6.0%|
|#8 Sun City Grand||$359,977||4.85%|
|#9 Trilogy at Vistancia*||$465,887||2.0%|
Communities that are still building new are skewed as new builds are not included in the MLS data. The data is for resale and spec homes that are submitted to the MLS. Year to date, all communities saw an increase in home values. CantaMia and Sun City were ranked 1 and 2 respectively.
PHX Retirement Community Year End Home Values 2020 (Table 1)* Ranked in order of home value increase.
** Data includes resale and spec homes, not new builds, so communities building new will have higher home value increases than shown.
*** Stats from AZ MLS. Info deemed reliable but not guaranteed.
Average Sale Price 2020
Home Value Change +/-
|#1 Sun City|
|#2 Corte Bella|
|#3 Sun City West|
|#5 Arizona Traditions|
|#6 Trilogy at Vistancia**|
|#7 Sun City Grand|
|#8 Sun City Festival**|
|#9 Victory at Verrado**|
|Copy Right 2020|
9 out of 10 communities saw a decrease in listings and sold homes due to Covid19. Sun City West saw the most decrease in both with listing down -19% and sold homes down -20%. Sellers are listing homes and buyers are purchasing. I think there will be pent-up demand this coming season.
What is the Monsoon?
The North American monsoon, also known as the Southwest monsoon, or the Arizona monsoon, is a pattern of a major increase in thunderstorms and rainfall over large areas of the southwestern US and NS Mexico, typically it occurs between July and mid-September. During the monsoon, thunderstorms are fueled by daytime heating and build up during the late afternoon to early evening. Typically, these storms dissipate by late night, and the next day starts out fair, with the cycle repeating daily. The big dust storms are called Haboobs. The monsoon usually loses its energy by mid-September when much drier conditions prevail over the region.
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