West Valley Arizona Real Estate Market Update July 2024

[@jasperfrenchie]

Nice update!

[@WestPhoenixLife]

Thank you for watching!

[@sburns2421]

Thank you for the update. Watching Sterling Grove specifically (new build). It is interesting how slow it is despite being IMO the nicest community of the five. Certainly pricey but if you want certain things like the gated/guarded entry it is never going to be cheap. Watching June and then July updates, something curious is the change between months. It looks like the move-in ready/resale houses are just sitting, only two total sold in June-July. Days on market went from 70 to 104 days. Maybe a few recent listings were pulled which skews the remaining to the higher number? The lack of traffic is what we noticed when we spent several days there in July. It is clear some of the inventory spec homes they have were finished weeks or months ago and are just sitting empty. Based on their reduced prices compared to ordering a new build Toll Brothers realizes this as well. They had a sheet you could get once registered, front and back, of move-in homes. Probably 40 or so, only a dozen or so listed in the MLS.

[@WestPhoenixLife]

Thanks for watching! It has been slow for sure, but these are notoriously slow months here in Arizona. We should see things start to pick up here in September (especially if we get a rate drop). Let me know if I can help you find anything!