August 2024 West Valley Real Estate Market Update
Welcome to the latest update on the Arizona real estate market for August 2024, focused on the top 5 master-planned communities in the West Valley. I'm Michelle Seymour, an Arizona Realtor specializing in the West Valley area of Phoenix. Whether you're a buyer or seller, understanding the latest market trends can help you make informed decisions. Let’s dive into the housing market data, highlighting inventory levels, average home prices, and market conditions in these sought-after neighborhoods. If you prefer to watch on YouTube, you can do that here.
August 2024 Housing Market Update for Top 5 Communities in Arizona's West Valley.
Top 5 Communities in the West Valley Phoenix Real Estate Market:
1. Verrado (Buckeye, AZ)
All-Ages Community
Average Sale Price: $556,232
Inventory: 105 homes (4.75 months)
Days on Market: 103 days
Market Insights:
Verrado has experienced an uptick in buyer interest, despite the summer lull. Lower interest rates have encouraged more activity, making it an excellent time for buyers to negotiate favorable deals. Sellers are willing to make concessions, creating opportunities for motivated buyers.
Victory (55+ Community)
Average Sale Price: $653,841
Inventory: 19 homes (2 months)
Days on Market: Over 200 days (due to new builds skewing the average)
Market Insights:
Victory is gearing up for increased buyer activity as we head into cooler weather. Resale homes are moving faster than new builds, and as buyer interest rises, expect the inventory to tighten.
2. Vistancia (Peoria, AZ)
All-Ages Community
Average Sale Price: $631,398
Inventory: 76 homes (just under 4 months)
Days on Market: 65 days
Market Insights:
Vistancia’s inventory is gradually decreasing, offering buyers a range of home styles and price points. With a mix of amenities and scenic living, it’s one of the most desirable communities for both young families and retirees alike.
Trilogy (55+ Community)
Average Sale Price: $619,555
Inventory: 45 homes (just over 3 months)
Market Insights:
Trilogy continues to attract interest due to its beautiful landscape and active adult amenities. As inventory slightly declines, buyers should act now to secure a home in this high-demand community.
3. Estrella Mountain Ranch (Goodyear, AZ)
All-Ages Community
Average Sale Price: $521,342
Inventory: 108 homes (4 months)
Days on Market: 76 days
Market Insights:
Even through the Arizona summer heat, Estrella Mountain Ranch has maintained a steady sales pace. Inventory levels are slowly declining, providing plenty of buying opportunities for those interested in this vibrant community.
Canta Mia (55+ Community)
Average Sale Price: $467,616
Inventory: 19 homes (steady from July)
Days on Market: 43 days (significantly down from 81 days in July)
Market Insights:
Canta Mia is seeing a decrease in days on market, suggesting a quicker turnover for properties. With lakefront homes and affordability, it’s an ideal spot for active adults looking for a peaceful, yet engaging, lifestyle.
4. Pebble Creek (Goodyear, AZ)
55+ Community
Average Sale Price: $528,953
Inventory: Just under 2.5 months
Market Insights:
As Pebble Creek enters its final phase of building, inventory continues to shrink. With homes still affordably priced and plenty of amenities for active adults, this is an opportune time for buyers to secure their place in this thriving community.
5. Sterling Grove (Surprise, AZ)
All-Ages and 55+ Living
Average Sale Price: $832,248
Inventory: 39 homes (9 months)
Market Insights:
Home sales have been slow in Sterling Grove, with many properties lingering on the market. However, this presents a fantastic opportunity for buyers to take advantage of potential discounts on move-in-ready homes.
Connect with Michelle Seymour
If you’re considering a move to Arizona, or if you’re curious about the real estate market in the West Valley, I’d love to help you navigate your options. Whether you’re planning to move soon or are just in the exploratory stages, feel free to contact me via text, email, or phone. Let’s work together to find your perfect home in one of these stunning Arizona communities!
