Sizzling Real Estate Market in Sun City West
Sun City West Real Estate Market Report May 2021
Homes that are priced right in Sun City West can go under contract in a matter of days. Most are sold auction-style, taking offers for 3 to 4 days, and then the seller decides which offer they want to accept. It’s not always the highest-priced offer that gets selected. Sometimes it’s the terms of the offer that win along with the price. On average, these homes get 5.5 offers, and many are above the asking price. So yes, it is a sizzling hot market here.
Do keep in mind, if a home is overpriced or needs a lot of work, it will sit on the market as before. Some homes have had virtually no updates for 30 or 40 plus years. However, if you are willing to take on a project, there may be a buying opportunity. Due to the housing shortage, these project homes will still fetch top dollar. But probably not as much as the seller would like compared to the same floor plan remodeled. With that being said, let’s explore this month’s Sun City West Real Estate Market Report May 2021.
What’s the Housing Market like in Sun City West? Strong Sellers Market
May Housing Numbers
In May, there were 78 single-family homes for sale, of which 58 were pending. The average list price was $370,769, with an average of 21 days on the market. So what was the hottest price range in May? The answer is homes listed from $300,000 to $400,000. This price range had the most listings and the most homes going under contract.
6 Months Housing Snapshot
682 homes sold in the last six months. On average, during that timeframe, homes sold for 100% of the asking price with just under one month’s inventory. Prices ranged from a low of $272,000 to a high of $639,000. Over the last six months, the average sold price was $326,494, with the average days on the market at 32 days. Compare those numbers to May. Prices in May were way up, and days on the market decreased compared to the 6-month average.
For more information and a downloadable report about the housing market in Sun City West, please refer to the market report below. A quick explanation of a real estate term. For the purposes of this report, active listings are homes that are not under contract taking backup offers (UCB). In our post Covid19 market, those listings, for all intensive, purposes are pending. And, yes, most likely sold. If you would like a similar report for apartment-style flat homes (attached condos), reach out to Sharon.