Ahwatukee’s real estate market is showing remarkable resilience, with significant growth in home sales across two key ZIP codes. According to recent data from Phoenix Realtors, July saw an impressive 58.3% year-over-year increase in home sales in the 85044 ZIP code, with 38 closings and a median price of $524,450—up 6.1% from last year. Meanwhile, the 85048 area experienced a 6.5% increase in home sales with 33 closings and a median price of $609,000, representing a modest 1.3% annual increase.
Despite these encouraging figures, the market presents a mixed picture, with average home prices taking different trajectories in the two areas. In 85044, the average price decreased by 6.2% year-over-year to $579,216, while 85048 saw a 2.3% increase to $704,113. Both areas maintained strong negotiating positions for sellers, who consistently received 98% of their asking prices, though patience has become increasingly necessary. Homes now spend significantly more time on the market—68 days in 85044 and 62 days in 85048, representing increases of approximately 60% compared to July 2024.
The surge in home sales comes against a backdrop of changing market dynamics, with pending sales showing concerning downward trends. In 85044, pending sales dropped by 3.8% year-over-year to 25, while 85048 experienced a dramatic 41.7% decline to just 14 pending transactions. This local trend mirrors a Valley-wide pattern that Phoenix Realtors describes as reaching its lowest level since December 2007, signaling significant shifts in buyer behavior despite the increased sales activity for completed transactions.
“National economic uncertainty makes it tough to try and find a trend in the numbers,” notes Christy Walker, board president of Phoenix Realtors. “The market has a lot of opportunities and mortgage rates have stabilized, but it’s taking longer to sell a home.” This extended selling timeline represents the most significant increase in days on market since March 2012, creating a market environment that combines higher sales volumes with longer transaction cycles—a paradox that reflects the complex forces currently shaping Ahwatukee’s housing landscape.
A closer examination of inventory levels reveals significant year-over-year increases in available homes across both Ahwatukee ZIP codes. The 85044 area showed a 39% jump in inventory with 93 homes on the market, while 85048 experienced a 24.7% increase with 96 homes available. Valley-wide, the current inventory stands at 4.3 months—up 30.3% since June, creating more options for buyers than they’ve seen in recent years. This expanded selection has shifted negotiating leverage toward buyers, though Ahwatukee continues to outperform national trends, which saw a 2.7% month-over-month decline in home sales.
According to the Cromford Report, a leading analyst of the Valley’s housing market, there are signs of improvement for sellers in many submarkets despite the overall buyer’s market conditions. Of the 17 Valley submarkets closely monitored, 12 cities showed improvement for sellers, with only Tempe and Maricopa moving further toward buyer-favorable conditions. However, experts caution that current positive trends may be seasonal, with the Cromford Report warning: “Our concern is that once temperatures start to cool at the end of September, we are likely to see the falling trend in supply come to an end.” Additional factors that may impact future market conditions include job reports showing fewer than expected positions being created in high-income sectors that typically drive home purchases, including information technology, financial activities, and professional services.
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