Is Sun Lakes, AZ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Sun Lakes has remained a Seller's Market.
Key Takeaway
Sun Lakes is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Sun Lakes, AZ
How much do homes in Sun Lakes, AZ cost?
Median Sold Price
$481,650
$261/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Sun Lakes have sold for 3.6% more than they did a year ago.
Summary: The median home sold price in Sun Lakes was $481,650 in May 2024, up 3.6% from last year, and the median price per square foot was $261.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $450K | $448.8K | -0.3% |
| 3 Bedrooms | $520K | $565K | +8.7% |
| 4 Bedrooms | - | $804K | N/A |
| 5+ Bedrooms | - | - | N/A |
Summary: Sun Lakes housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 0.3%, 3 bedroom homes increased by 8.7%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Housing Supply in Sun Lakes, AZ
How many homes are available in Sun Lakes, AZ?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 170 | 131 | -22.9% |
Summary: The Sun Lakes real estate market had 131 homes for sale in May 2024, a 22.9% decrease compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 111 | 83 | -25.2% |
| 3 Bedrooms | 57 | 47 | -17.5% |
| 4 Bedrooms | 2 | 1 | -50.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Sun Lakes housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 25.2%, 3 bedroom homes decreased by 17.5%, 4 bedroom homes decreased by 50%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 64 | 51 | -20.3% |
Asking Price vs. Sold Price
30 Homes Were Sold
Under Asking
12 Homes Were Sold
At Asking
9 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Sun Lakes, you may be able to get a good deal. 58.8% of homes here sold below asking price last month.
Summary: A total of 51 homes were sold or pending in Sun Lakes in May 2024, down by 20.3% month-over-month. Of the 51 sold homes, 59% were sold under asking, 24% were sold at asking, and 18% were sold over asking.
Days on Market for Sun Lakes, AZ
How long does it take to sell a home in Sun Lakes, AZ?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 61 Days | 53 Days | -12.9% |
Summary: Homes in Sun Lakes had an average of 53 days on market in May 2024, down by 12.9% compared to last year.
Breakdown of Home Sale Times
20 Homes Were Sold
Under 30 Days
21 Homes Were Sold
In 30 - 90 Days
10 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Sun Lakes has remained consistent over time.
Summary: During May 2024, 51 homes were sold in Sun Lakes; 39% of homes were sold within 30 days, 41% of homes were sold within 30 to 90 days, and 20% of homes were sold over 90 days.
The data relating to real estate for sale on this site comes from the Broker Reciprocity/IDX of Arizona Regional Multiple Listing Service, Inc. Indicates a property listed by a real estate brokerage other than Rocket Homes Real Estate, LLC. All information should be verified by the recipient and none is guaranteed as accurate by ARMLS. No warranties, expressed or implied, are provided for the data herein, or for their use or interpretation by the user. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Arizona Regional Multiple Listing Service, Inc. do not create, control or review the property data displayed herein and take no responsibility for the content of such records. Federal law prohibits discrimination on the basis of race, color, religion, sex, handicap, familial status or national origin in the sale, rental or financing of housing. Information deemed reliable but not guaranteed. Copyright© 2024 Arizona Regional Multiple Listing Service, Inc. All Rights Reserved.