Sun Lakes Home Appreciation June 1, 2012

Are homes appreciating in Sun Lakes, AZ?  That’s a question I get almost daily due to the news of how the Phoenix Metro area has seen 25% appreciation in the last 12 months.

Unfortunately, we are not seeing that appreciation frenzy in Sun Lakes, or any active adult community that I am aware of.

Here’s a chart that shows the last 2 years of home appreciation and it’s easy to see we’ve fallen over the last 2 years.  BUT, the good news is our values as of May 2012 are slightly higher at a median of $184,500 than they were 1 year ago May 2011 at $182,625.  A great sign that our Sun Lakes real estate market is correcting.  The year before in May 2010, Sun Lakes median sales price was at $230,000, quite a fall from 2010 to 2011 but encouraging that this past year we are seeing a little appreciation!

Stay tuned!

Information courtesy of the Cromford Report