Inventory generally ebbs in the Valley’s retirement communities over the summer months as buyers turn their thoughts to places where the temperature isn’t routinely in triple digits (or, given the way this summer went across the country, isn’t in triple digits as a matter of course.)
But this summer, in which inventory across the Northwest Valley and the rest of the Phoenix area has dropped precipitously, the drops have been even deeper.
Westbrook Village has roughly 5,000 properties and around 100 are for sale at any given moment during the winter months. Right now there are 59.
Ventana Lakes generally also has an inventory of around 100 homes for sale during the winter. Right now there are only 21 properties for sale.
Sun City Grand has 161 homes for sale, Sun City over 400 and Sun City West over 300. Pebblecreek in Goodyear is at 68, Arizona Traditions just 30 and Sun Village a mere 18.
All those numbers should rise as we approach Labor Day though the market, caused in part by the rollercoaster ride on Wall Street, could be a little choppy early in the selling season. Thankfully the Canadian dollar remains as strong as it’s been, providing a fourth year of opportunity for our northern neighbors to take advantage of the exchange rate and purchase rather than pay exorbitant rents.
For those searching right now there are two paths to take – look at the thin inventory and hope the sellers are on the market because they’re motivated to sell before the rest of the inventory hits, or wait until there’s a little more selection and hope economic news keeps prices down for another season.
What’s the right answer? If only my crystal ball was that good … all I can tell you for certain is the high season nearly is nigh and more robust inventory in these areas is just around the corner.