Why Gated Communities Matter in Arizona Real Estate
The gated community premium in Arizona real estate is real, documentable, and durable across market cycles. Guard-gated communities in Arizona have historically traded at 10–20% premiums over comparable non-gated homes in the same submarket, and access-controlled communities command 3–8% premiums. These are not trivial numbers on the price points that characterize much of the Phoenix luxury market: a 15% premium on a $1.5M non-gated home equates to $225,000 in additional purchase price for the gated alternative. Understanding precisely what that premium buys — and what it does not — is essential context for any Phoenix metro buyer who has “gated community” on their list of requirements.
The security case for gated communities is real but frequently overstated. Guard-gated communities do show measurably lower property crime rates than surrounding non-gated areas. The mechanism is straightforward: staffed security creates a psychological and logistical deterrent for opportunistic property crime; vehicles entering the community are logged and associated with a specific address or visitor invitation; unknown individuals cannot simply drive through a neighborhood surveilling properties. For high-net-worth homeowners who travel frequently, own significant personal property, or whose public profiles make them potential targets for property crime, guard-gated security is a legitimate risk-management tool rather than a lifestyle luxury.
Beyond security, gated communities deliver consistent HOA appearance standards at a higher enforcement level than comparable non-gated communities. The social and physical character of gated communities — controlled entry, well-maintained common areas, uniform landscaping standards — creates a baseline of neighborhood quality that is difficult to replicate in non-gated settings where individual property maintenance is purely voluntary and enforcement mechanisms are weaker. For buyers who have experienced the frustration of purchasing in a beautiful non-gated neighborhood that subsequently declined in character due to neglected properties or incompatible uses moving in adjacent to their home, the HOA appearance enforcement that typically accompanies gated community membership carries genuine lifestyle value.
The traffic-reduction benefit of gated communities is underappreciated by buyers who focus primarily on the security narrative. In non-gated suburban subdivisions, through-traffic — delivery vehicles, service providers, shortcut-takers avoiding arterial roads, and individuals with no connection to the neighborhood — is a constant presence on residential streets. Gated communities eliminate this through-traffic entirely: every vehicle on the internal street network either belongs to a resident or has been specifically cleared for entry. For families with young children, the reduction in non-residential through-traffic on neighborhood streets is a genuine quality-of-life improvement that compounds over years of daily life in the community.
Not all gates are equal, and the distinction between gate types is the most important thing a buyer should understand before paying the gated community premium. A “gated community” listing classification in the MLS covers a range from the most rigorous 24/7 guard-staffed access control with vehicle logging and visitor management systems, all the way to a low-barrier keypad entry that locals know the code for and that any vehicle following a resident through can simply tailgate past without any interaction. Ryan Moxley physically verifies gate type and security procedures before showing any gated community property to ensure that clients are paying for what they believe they are getting, rather than learning the distinction after the purchase is closed.
Before evaluating price, amenities, or HOA fees in any “gated” community: Is the gate staffed 24/7 with a security guard, or is it an unmanned access-controlled entry? This single distinction determines the actual security level, the lifestyle implications, and the premium you should be willing to pay. A staffed guard gate and a keypad-only gate are fundamentally different products that carry the same MLS checkbox. Ryan verifies gate type on every gated community transaction before any offer is submitted.
Types of Gates in Arizona: Guard-Gated, Access-Controlled, and Symbolic
Arizona gated communities span a spectrum of actual security and access control that is not visible from listing data or MLS classifications. The “gated subdivision” flag in ARMLS can apply to a community with 24/7 staffed security and biometric visitor logging, or to a community with a keypad-entry gate that has been broken for the past two months without repair. Understanding the specific gate type of any community you are considering is the first step in evaluating whether the gated community premium is justified by actual security and access-control capability.
What it is: A staffed guardhouse at every community entry point, operating 24 hours a day, 7 days a week, with security personnel who log every entering vehicle, verify the identity of visitors against resident-provided visitor lists or call-ahead approvals, and have authority to deny entry to unauthorized individuals. Communities at this level typically have multiple cameras, visitor management software, and protocols for emergency vehicle access that balance security with response-time requirements.
Examples in Arizona: Silverleaf (DC Ranch master plan, Scottsdale), DC Ranch Country Club enclave, The Boulders community in Carefree, Troon Village upper enclave, Clearwater Hills in Paradise Valley, various private Paradise Valley enclave communities with fewer than 30 homes.
Cost premium: HOA fees for guard-gated communities typically run $400–$1,200+/month compared to $100–$300 for access-controlled communities. The staffing cost for 24/7 guard coverage is the primary driver of this premium: three shifts of security staff, security company management, benefits, equipment, and guardhouse maintenance add up to substantial ongoing expense that all residents share through HOA assessments.
Who it is for: High-net-worth homeowners who need a verifiable security level for risk management purposes; executives and public figures who require documented visitor control; snowbirds and frequent travelers whose homes are frequently unoccupied; individuals with specific security risk profiles.
Highest Security Level: The only gate type that delivers genuine security rather than security theaterWhat it is: A mechanical or electronic gate controlled by resident key fobs, access codes, or RFID transponders. No security staff. No visitor logging. Visitors access the community by calling a resident who provides a temporary code or remotely opens the gate, or by using a callbox system at the gate. Delivery services, rideshare vehicles, contractors, and HOA-approved vendors typically have standing codes or are granted entry on a case-by-case basis via the callbox.
What it does: Eliminates through-traffic from non-residents. Reduces opportunistic crime from individuals who would prefer not to be seen entering a neighborhood. Creates a psychological “gated” identity that signals community exclusivity and HOA appearance standards. Does not provide any meaningful barrier to a determined individual who follows a resident vehicle through on tailgate, who obtains the entry code from a resident, or who obtains the code from a service provider.
Examples in Arizona: Most mid-range gated communities in Scottsdale, Gilbert, Chandler, Mesa, Peoria, and Surprise. The majority of communities marketed as “gated” in the Phoenix metro are in this category. Fulton Ranch (Chandler), Seville Golf and Country Club (Gilbert/Chandler), Happy Valley corridor communities (north Phoenix), many DC Ranch non-enclave sections.
Cost premium: HOA fees typically $150–$450/month depending on community size and amenity level. The gate infrastructure is a modest HOA cost compared to guard-staffed alternatives.
Common Level: Delivers traffic control and community identity; honest security is limitedWhat it is: A gate structure that has the appearance of a gated community but provides minimal actual access control. Common forms include: gates that remain open during business hours (8am–8pm or similar) and only close at night; gates with entry codes that are known to large numbers of non-residents including regular delivery personnel, service workers, and former residents; gates that are frequently broken and left in the open position; and gates with no exit restriction so any entry barrier can be bypassed by entering from the exit lane.
Real estate implication: The MLS “gated subdivision” flag does not distinguish between Type A, B, and C gates. Buyers paying a gated community premium for what is effectively a symbolic gate are overpaying for a security benefit that does not exist at the level they believe they are acquiring. This is one of the most common points of buyer disappointment in gated community purchases that Ryan observes.
Due diligence: Visit the community gate in person at multiple times of day and on multiple days. Observe entry procedures for delivery vehicles, contractors, and visitors who call the callbox. Confirm with the HOA management company whether the gate is functional 24/7, whether there is a mechanism for after-hours visitor entry, and what the gate maintenance history has been. Ask specific questions about gate maintenance spending in the HOA budget and whether there are outstanding repair assessments.
Buyer Alert: MLS does not distinguish symbolic gates from functional access control — verify in personBest Guard-Gated Communities in Scottsdale: Silverleaf, DC Ranch, Troon Village
Scottsdale contains Arizona’s highest concentration of genuinely guard-gated luxury residential communities — not guard-gated in the aspirational marketing sense, but in the literal sense of 24/7 staffed security that operates at the level that high-net-worth buyers require when they specify “guard-gated” as a non-negotiable criterion. The communities in this section maintain staffed guard operations continuously, log entering vehicles, manage visitor lists, and provide a verifiable security posture that goes beyond the appearance of security to the practice of it.
Silverleaf (DC Ranch master plan, Scottsdale 85255): Silverleaf is the most exclusive guard-gated residential address in Arizona, full stop. Located in the upper McDowell Mountain foothills within the DC Ranch master plan, Silverleaf features 24/7 staffed security at every entry point, private canyon estate lots that are topographically isolated from surrounding development, the Silverleaf Club (private golf course, spa, fine dining restaurant), and homes that range from $3M to $30M+ in value. The combination of staffed security, private club infrastructure, and irreplaceable canyon estate lot positions creates an address that commands the highest residential real estate prices in Arizona outside of the most exceptional Paradise Valley waterfront estates. Silverleaf is the community choice for Arizona’s most prominent executives, professional athletes, and high-net-worth individuals for whom the address itself is part of the value proposition, not merely the home on the lot.
DC Ranch Country Club enclave (Scottsdale 85255): The guard-gated Country Club enclave within DC Ranch (distinct from the broader DC Ranch master plan, which includes large non-gated sections) provides 24/7 staffed security access control with private country club membership infrastructure including golf, racquet sports, fitness, pools, and club dining. Home prices in the DC Ranch Country Club enclave run approximately $1.5M–$8M, and the community provides a security and lifestyle experience that is more accessible than Silverleaf while maintaining genuine guard-gated security rather than access-controlled alternatives. For buyers who require guard-gated security but whose budget or lifestyle preferences do not extend to the $5M+ Silverleaf entry point, DC Ranch Country Club is frequently the first recommendation.
The Boulders community, Carefree: The Boulders is a guard-gated residential community wrapped around the resort of the same name (Four Seasons), with 24/7 staffed security providing access control for the residential enclave that occupies the land surrounding the famous granite boulder formations of Carefree. Home prices in the residential Boulders community range from approximately $1.5M to $5M+ for estate homes with golf course or boulder formation adjacency. The Boulders Golf Club’s two 18-hole courses are available to residential members, and the Four Seasons resort amenities (dining, spa, pools) are accessible to community residents in various forms. The Boulders provides genuine guard-gated security in a location that offers the most dramatic natural landscape setting of any guard-gated community in the Phoenix metro area.
Troon Village upper enclave (Scottsdale 85262): The upper Troon Village community includes guard-gated sections providing staffed security access for custom estate homes on large lots in the McDowell Mountain foothills. Prices in Troon Village’s guard-gated sections run approximately $1M–$5M+, and the combination of large estate lots, mountain views, and Troon North Golf Club proximity makes the community particularly attractive to buyers who want guard-gated security with the equestrian and desert estate lifestyle that the outer 85262 zip code supports. The guard-gated character of upper Troon Village provides a security level that the access-controlled majority of the Troon North community does not, at a price point that is generally more accessible than Silverleaf or the Boulders residential enclave.
Best Guard-Gated Communities in Paradise Valley: Arizona’s Most Exclusive Residential Address
Paradise Valley is a municipality unto itself — incorporated separately from Phoenix and Scottsdale, with its own zoning code that mandates minimum one-acre lot sizes throughout the town, no commercial development (with rare exceptions), and a residential character that is defined by its exclusivity as much as its amenities. The result is a community where the resident base includes among the highest concentrations of high-net-worth households in the American Southwest, where the average home value significantly exceeds any adjacent municipality, and where the demand for genuine guard-gated privacy and security is correspondingly intense. Paradise Valley’s guard-gated communities serve a buyer who is genuinely wealthy, genuinely concerned about privacy, and for whom the security and discretion of a staffed entry point is a practical requirement rather than a preference.
Private Paradise Valley enclave communities: Paradise Valley contains numerous small guard-gated enclaves — some with as few as 8–15 homes — that provide the most genuinely private residential experience available in the Phoenix metro outside of standalone estate properties on fully isolated land. These enclaves frequently do not have formal community names on listing sheets or maps; they are described by the agent community as specific gates or court names. Home prices in the most exclusive Paradise Valley guard-gated enclaves range from $3M to $20M+, and the community character is defined by the shared commitment of the resident group to maintaining the privacy that the guard-gated entry makes possible. Some Paradise Valley enclaves are so private that active listings within them are handled exclusively off-market, with listing agents working their personal networks rather than publishing to MLS. Ryan Moxley maintains awareness of off-market Paradise Valley opportunities through his agent network and can provide access to inventory that does not appear in standard searches.
Mountain Shadows area (Paradise Valley): The Mountain Shadows resort redevelopment and adjacent residential communities in east Paradise Valley include guard-gated or access-controlled sections where contemporary luxury homes are priced from approximately $2M to $8M+. The Mountain Shadows area benefits from resort-adjacent amenity access (hotel restaurant, spa, golf) and the Paradise Valley municipality’s consistent property maintenance and appearance standards that function somewhat similarly to HOA enforcement even in areas without formal HOA governance. The area’s geography against Camelback Mountain creates a dramatic setting that commands significant premiums for properties with optimal view positions.
Clearwater Hills (Paradise Valley): Clearwater Hills is one of the most distinctive guard-gated communities in Paradise Valley — a private residential enclave on elevated terrain with large lots (many exceeding two acres), panoramic views, and a long-established resident community that has maintained the neighborhood’s character over multiple decades. Home prices in Clearwater Hills range from approximately $3M to $15M+ for the most exceptional view properties. The community’s guard-gated entry is staffed continuously, and the combination of elevation, lot size, view orientation, and long-term community character makes Clearwater Hills one of the most durable value-holds in the Paradise Valley luxury market.
Paradise Valley’s guard-gated communities as a whole represent the most privacy-oriented residential market in Arizona. The municipality’s zoning — no multifamily, no commercial, minimum one-acre lots — combined with the income profile of the resident base creates community standards that are structurally reinforced regardless of individual HOA enforcement. For buyers whose primary criterion is absolute privacy and the assurance of surrounding property quality, Paradise Valley guard-gated communities deliver an experience that no other Arizona municipality can fully replicate, and that justifies the premium above comparable north Scottsdale luxury communities for buyers who value municipal character over community amenities.
Many of the most exclusive Paradise Valley guard-gated communities do not have active listings on MLS at any given time, and some inventory changes hands exclusively off-market through agent networks. If you are a buyer interested in Paradise Valley guard-gated communities at the $3M–$20M+ level, working with an agent who has established relationships in the Paradise Valley market is more important than search engine access to MLS listings. Ryan Moxley can access both MLS-listed and off-market Paradise Valley inventory through his established agent and ownership network in the community.
East Valley Gated Communities: Chandler, Gilbert, Mesa, and Queen Creek
The East Valley’s gated communities occupy a different segment of the Arizona gated market than north Scottsdale or Paradise Valley: they are predominantly access-controlled rather than guard-gated, they serve a broader demographic range of buyers, and they offer gated community living at price points accessible to first-time luxury buyers, growing families, and move-up buyers from non-gated East Valley communities. The East Valley gated market is the highest-volume segment of the Phoenix metro gated community landscape, and understanding the specific communities, their HOA structures, and their actual security levels is essential for buyers navigating this market segment.
Fulton Ranch (Chandler 85248): Fulton Ranch is one of the premier access-controlled master-planned communities in the East Valley — a 1,100-acre community in south Chandler built around a series of interconnected lakes that provide both community aesthetics and recreational opportunities including kayaking, fishing, and paddle sports that are genuinely unusual in a landlocked desert metropolitan area. Fulton Ranch is access-controlled at its entry points (unmanned gate with fob/code access), and the community features maintained walking and cycling paths around its lake system, multiple community parks, and proximity to south Chandler’s excellent Chandler USD schools. Home prices in Fulton Ranch range from approximately $500K to $1.2M for single-family homes, with higher-end properties featuring lake frontage or larger lots. The community attracts technology professionals (Intel’s Chandler campus is nearby), healthcare workers (Dignity Health and Banner facilities are in south Chandler), and families prioritizing the lake-front lifestyle within an access-controlled gated environment.
Seville Golf and Country Club (Gilbert/Chandler border): Seville Golf and Country Club straddles the Gilbert-Chandler boundary and provides an access-controlled gated community built around a private 18-hole golf course, club facilities, and community amenities including pools, fitness, and tennis. The community is access-controlled rather than guard-gated, and the gate infrastructure is maintained by the HOA at a consistent functional level. Home prices in Seville range from approximately $500K to $1.5M for homes with and without golf course views, with the most valuable properties along the course offering significant premiums over interior lots. The golf course and club membership structure is private, with a residential membership component available to Seville homeowners. For East Valley buyers who want golf-community living with an access-controlled gate at price points below the north Scottsdale alternatives, Seville Golf and Country Club is one of the strongest options in the market.
Ocotillo executive sub-communities (Chandler 85248): The broader Ocotillo master plan in south Chandler includes multiple sub-communities with varying gate types, ranging from fully open non-gated sections to access-controlled and some guard-gated executive enclaves within the master plan. The most exclusive Ocotillo sub-communities offer guard-gated or access-controlled security with premium home prices ranging from $800K to $2M for executive-tier homes on the system’s lakefront lots. Ocotillo overall is known for its lake system (similar to Fulton Ranch), waterfront lot premiums, and proximity to Chandler’s major technology and financial services employers including Intel, PayPal, and major financial services operations in the area. Buyers specifically targeting Ocotillo should verify the gate type for the specific sub-community they are considering, as “Ocotillo” as a search term returns both gated and non-gated results that are not distinguished in standard MLS filters.
Eastmark and Premier communities (Mesa 85212): Eastmark in east Mesa is a large master-planned community that includes gated sections with access-controlled entry for higher-priced residential segments. Home prices in Eastmark’s gated sections range from approximately $600K to $1M+, and the community benefits from Mesa’s strong school district, proximity to the 202 freeway for commute access to Tempe and Chandler employment centers, and the master plan’s community amenities including a recreational facility, multiple pools, parks, and active event programming. For buyers seeking access-controlled gated community living in Mesa at price points below Scottsdale alternatives, Eastmark Premier sections represent a strong option with meaningful long-term appreciation potential driven by the broader Eastmark master plan’s ongoing development trajectory.
Queen Creek gated communities: Queen Creek’s rapid growth over the past decade has produced several access-controlled gated communities in the $600K–$1.2M range, primarily in newer master-planned developments along Ellsworth Road and Rittenhouse Road. The Queen Creek Unified School District serves most Queen Creek gated communities, and the district’s performance has improved significantly over the past decade alongside the area’s population growth. Queen Creek gated communities are particularly popular with Intel employees (Intel has a major research campus in Chandler, approximately 20–25 minutes from most Queen Creek communities), families seeking newer construction at accessible price points, and buyers priced out of Gilbert and Chandler who want to maintain access-controlled community living in a similar lifestyle environment.
Gate type: Primarily access-controlled (unmanned). Guard-gated options are limited to specific high-end enclaves within larger master plans. Price range: $500K–$2M (access-controlled); $800K–$2M (limited guard-gated enclaves). School districts: Chandler USD, Gilbert USD, Mesa USD, Queen Creek USD — all strong to excellent. Primary buyers: Technology and healthcare professionals, growing families, move-up buyers from non-gated East Valley communities.
North Phoenix Gated Communities: Happy Valley, Anthem, and the 85085 Corridor
North Phoenix’s gated community landscape has expanded dramatically over the past decade, driven by population growth along the I-17 corridor, the established Anthem master plan, and more recently the TSMC employment effect that is drawing higher-income professional households into north Phoenix communities that previously served a more modest demographic. The result is a diverse gated community market in north Phoenix that ranges from the Anthem Country Club’s active-adult 55+ model to newer access-controlled family communities in the 85085 zip code that offer the gated community lifestyle at price points significantly below north Scottsdale alternatives.
Desert Ridge resort-adjacent enclaves (Phoenix 85054): Several access-controlled gated communities immediately adjacent to the JW Marriott Desert Ridge Resort area provide gated community living with resort-proximity lifestyle access at prices in the $700K–$2M range. These communities benefit from the Desert Ridge Marketplace retail infrastructure, Mayo Clinic proximity (5 minutes), and Loop 101 access to both TSMC (west) and Scottsdale (east) employment centers. The access-controlled gate infrastructure in these communities varies in quality and functional consistency; buyers should verify specific gate condition and HOA maintenance protocols before committing, particularly in communities where HOA fees are at the lower end of the range as lower fees sometimes correlate with reduced maintenance investment in gate infrastructure.
Happy Valley Corridor communities (Phoenix 85085): The Happy Valley Road corridor in north Phoenix has seen significant new construction of access-controlled gated communities in the past five to eight years, primarily serving the $500K–$1.2M price range with Paradise Valley USD school access (verify by specific address — the PVUSD boundary runs through the area). Happy Valley corridor communities are popular with first-time luxury buyers, TSMC employee households seeking commute access to the north Phoenix campus (approximately 15–20 minutes west on Happy Valley Road), and buyers who want gated community living with newer construction at accessible price points. The access-controlled gates in Happy Valley corridor communities are generally functional but are unmanned, and the security benefit is the traffic-reduction and psychological-deterrence level rather than guard-staffed access control.
Anthem Country Club (Anthem 85086): Anthem Country Club is a guard-gated 55+ active adult community within the larger Anthem master plan in north Phoenix. The community features a private 18-hole golf course, extensive club facilities (sports, fitness, pools, restaurant), and 24/7 staffed security that is genuine and consistently maintained — one of the few guard-gated options in north Phoenix that delivers authentic guard-gated security rather than aspirational marketing. Home prices in Anthem Country Club range from approximately $400K to $800K, making it accessible to a wide range of active adult buyers seeking guard-gated security combined with private golf and club lifestyle. The age-qualification requirement (at least one resident age 55+) limits the buyer pool and should be understood before purchase by buyers with family members who may need to occupy the home in the future.
Norterra and Dynamite Mountain communities (Phoenix 85085/85086): The Norterra area in north Phoenix includes several newer access-controlled gated communities developed around the Norterra shopping center anchor, providing gated family community living with convenient retail access at prices in the $500K–$900K range. School district in the Norterra area is primarily Deer Valley USD, which is a solid district with improving performance metrics, though it does not reach the top-ranking level of Scottsdale USD or Paradise Valley USD. For buyers who prioritize newer construction, access-controlled gated community living, and north Phoenix price points over the school district quality and amenity density of north Scottsdale, the Norterra and adjacent communities represent a strong value proposition in the gated community landscape.
Gate type: Guard-gated, 24/7 staffed. Price range: $400K–$800K. Golf: Private 18-hole course, club facilities. Buyer profile: Active adults 55+, retirees seeking guard-gated security with golf club lifestyle at accessible price point. Schools: Not applicable (age-restricted).
Gate type: Access-controlled (unmanned). Price range: $500K–$1.2M. Schools: Paradise Valley USD (verify by address) or Deer Valley USD. Buyer profile: TSMC commuters, first-time luxury buyers, families seeking gated community living at north Phoenix price points. TSMC commute: 15–20 min west.
What You Gain from a Gated Community: The Real Benefits, Honestly Assessed
The benefits of gated community living in Arizona are real, but they are more nuanced than the marketing narrative suggests. A clear-eyed assessment of what buyers actually receive in exchange for the gated community premium — in both HOA fees and purchase price — is more useful than either the enthusiastic endorsement common in listing descriptions or the reflexive skepticism of buyers who have been disappointed by symbolic gates. The benefits that are consistently and genuinely documented in Arizona gated communities are worth paying for; the benefits that are claimed but not delivered by lower-security gate types are not.
Reduced through-traffic is the most consistently delivered benefit. This holds for both guard-gated and access-controlled communities: the gate physically prevents non-residential through-traffic from using community streets as shortcuts or from the casual drive-through that characterizes non-gated neighborhoods. The reduction in non-resident vehicle traffic on interior streets is meaningful for families with young children, for pet owners, and for residents whose homes are on streets that would otherwise carry significant non-residential traffic if the gate were absent. This benefit does not require guard-staffed security to be real — an access-controlled gate delivers it effectively.
HOA appearance standards are better enforced in gated communities. The correlation between gated community status and HOA enforcement rigor is not perfect, but it is consistent across the Arizona market. Gated communities — particularly guard-gated ones where the resident base has paid a significant premium for community quality — tend to have more active HOA boards, more consistent CC&R enforcement, and lower tolerance for property maintenance violations that would reduce neighborhood character. The result is a more consistent appearance quality across the community that protects individual property values from being undermined by neighboring property neglect.
Property values hold better in gated communities during market downturns. This is the investment case for gated community premiums, and it is well-supported by Phoenix metro transaction data across the 2007–2009 crisis and the 2022–2023 correction. Guard-gated communities showed meaningfully shallower price declines than both access-controlled gated and non-gated comparables during both correction periods. The mechanism is a combination of factors: the higher-income buyer demographic has greater financial resilience during downturns; HOA appearance standards prevent the visible neighborhood deterioration that accelerates price decline in non-managed communities; and the constraint on supply (limited inventory in any specific guard-gated community) supports prices when transaction volume falls.
Seasonal and vacation home protection is a genuine and significant benefit. Arizona’s large snowbird and seasonal resident population means that a substantial number of gated community properties are unoccupied for extended periods during summer months or extended travel periods throughout the year. For homes that are unoccupied for weeks or months at a time, the guard-gated or access-controlled entry provides a meaningful deterrent to the opportunistic break-in and property crime that vacant non-gated homes are more vulnerable to. For properties that generate short-term rental income during the owner’s absence (where CC&Rs permit), the gated community entry procedure provides at least some screening of arriving guests.
Solicitor and visitor reduction is a practical daily benefit. Guard-gated communities eliminate unsolicited sales visitors, door-to-door solicitation, and the occasional problematic visitor entirely — no solicitor can access the community without a resident invitation. Access-controlled communities reduce but do not eliminate this category of visitor, as determined solicitors can use the callbox to attempt contact. For homeowners who work from home or who simply find unsolicited visitor interruptions disruptive, this benefit is more significant than it sounds in the abstract.
Through-traffic reduction: Both types deliver this effectively. HOA appearance standards: Both types, with guard-gated communities typically showing stronger enforcement. Actual crime deterrence: Guard-gated significantly stronger; access-controlled marginal vs. non-gated for determined criminals. Property value resilience: Guard-gated significantly stronger; access-controlled moderate. Seasonal home protection: Guard-gated significantly stronger; access-controlled marginal. Solicitor elimination: Guard-gated eliminates entirely; access-controlled reduces but does not eliminate.
What You Give Up in a Gated Community: The Real Costs and Inconveniences
The honest case for gated community living requires acknowledging the genuine costs and inconveniences that gated community buyers accept as part of the package. These are not dealbreakers for most buyers who value the benefits — but they are real, they are daily, and understanding them before purchase produces better-informed decisions than discovering them after the gate closes behind you for the first time as a resident. Ryan Moxley discusses these trade-offs explicitly with every buyer considering gated community options because buyers who understand what they are accepting make better purchase decisions than buyers who discover inconveniences post-closing.
HOA fees are meaningfully higher in gated communities, and highest in guard-gated communities. Access-controlled gated communities in the Phoenix metro typically carry HOA fees of $150–$450/month compared to $50–$200/month for comparable non-gated communities. Guard-gated communities add the staffing cost of 24/7 security operations to this baseline: guard-gated HOA fees commonly run $400–$1,200/month or more at the luxury end. On a 30-year mortgage, the difference between a $150/month non-gated HOA and a $700/month guard-gated HOA represents approximately $197,000 in additional occupancy cost (unadjusted for inflation) over the full mortgage period. This is real money that should be factored into affordability analysis, not treated as an incidental line item.
Guest access management is a consistent friction point for residents. Every visitor to a gated community — whether friend, family member, contractor, food delivery driver, or rideshare vehicle — requires either a remote gate open from the resident or a pre-approved access code or visitor pass. For guard-gated communities, visitors must provide their name and the resident they are visiting at the guardhouse, and the guard must confirm resident permission before granting entry. This process is seamless for residents who prepare for it but becomes friction for those who do not plan ahead — particularly for deliveries, service appointments, and spontaneous visitor arrivals. Food delivery services have specific protocols that vary by community and are not always smooth; Amazon and other package delivery operations have established procedures with most major gated communities but can require coordination that non-gated home delivery does not.
Emergency vehicle access occasionally creates complications. Most guard-gated and access-controlled communities have established emergency vehicle access protocols — automatic gate openers triggered by emergency vehicle transponders, or manual override procedures available to fire and police departments. However, in practice, gate systems that are poorly maintained, that have outdated emergency transponder programming, or that experience technical failures create the occasional scenario where emergency vehicle entry is delayed at the gate. Buyers should ask about the community’s specific emergency access protocols and the maintenance history of the emergency override system before purchasing in any gated community, particularly if they or household members have medical conditions that could require rapid emergency response.
Gate maintenance is an ongoing HOA expense that can generate special assessments. Gate infrastructure — motors, access control systems, cameras, callboxes, vehicle detectors, barrier arms — requires regular maintenance and periodic replacement. Gate technology evolves, and systems installed 10–15 years ago may need upgrade or replacement to maintain functional reliability. In communities where HOA reserve funds are underfunded for capital improvement needs, gate maintenance and replacement can trigger special assessments that add unexpected costs to homeowner obligations. Before purchasing in any gated community, request and review the HOA’s current reserve study and the funded reserve percentage specifically allocated for gate infrastructure replacement.
Security theater is a real risk in lower-tier gated communities. A buyer who pays the access-controlled gated community premium expecting a meaningful security benefit, then discovers that the community’s gate is essentially non-functional due to maintenance neglect, outdated technology, or a common access code that is widely known throughout the contractor and service community, has paid for a security benefit that does not exist. The frustration of this discovery — particularly for buyers who specifically selected a gated community for security reasons — is among the most common points of buyer regret that Ryan observes in gated community situations. Verifying gate function and maintenance history before purchase prevents this outcome.
Before submitting any offer on a gated community property, Ryan Moxley verifies: (1) Gate type: guard-staffed 24/7 or access-controlled (unmanned); (2) Gate functional reliability: recent maintenance history, any periods of non-function, current operational status; (3) HOA reserve fund status: is the gate infrastructure replacement funded in the reserve study?; (4) HOA fee amount and what is included; (5) CC&Rs: are there any restrictions relevant to the buyer’s intended use (STR, pets, vehicles, renovations, additions)?; (6) Visitor and contractor access procedures: does the access system accommodate the buyer’s expected frequency of guests and service providers?. These are not due-diligence items for the inspection period — they are pre-offer information that shapes whether the offer should be submitted and at what price.
Gated Community HOA Due Diligence: What to Review Before Closing
Gated community HOA due diligence extends significantly beyond the standard HOA review that applies to all Arizona homeowner association properties. The gate infrastructure itself represents a specific category of HOA capital asset that requires funded reserves, ongoing maintenance contracts, and long-term replacement planning. Beyond the gate, gated communities typically carry amenity infrastructure — common areas, community pools, recreation facilities, guard facilities — that adds both lifestyle value and HOA financial responsibility. A thorough gated community HOA review is one of the most important investor-protection steps available during the inspection and due diligence period, and it is one that many buyers abbreviate to their long-term financial detriment.
The reserve study is the most important financial document in any gated community HOA review. A reserve study, prepared by a qualified reserve specialist, assesses the current condition of all HOA-maintained capital assets, projects their remaining useful life, and recommends the annual reserve contribution required to fund replacement when each asset reaches end of life. For gated communities, the reserve study should specifically address gate equipment (motors, access control systems, cameras, barrier arms), guardhouse facilities if applicable, perimeter fencing and walls, community signage, and any recreational infrastructure. A well-funded reserve study — with current funded reserves at 70–100% of the recommended level — indicates an HOA that is managing its capital obligations responsibly. An underfunded reserve study at 30–50% funded indicates deferred capital contributions that will eventually require either special assessments or significant fee increases to address.
The HOA’s most recent 12 months of meeting minutes provide insight into the community’s governance quality, current issues under discussion, and any disputes, special assessments, or significant capital decisions that are in process. Meeting minutes are a required disclosure item in Arizona real estate transactions, and buyers are entitled to review them before closing. Specific items to look for in gated community HOA meeting minutes include: any discussion of gate security incidents or breaches; any proposals for gate system upgrades or replacements and the funding approach being considered; HOA fee increase discussions or special assessment votes; neighbor disputes that may affect the buyer’s enjoyment of the property; and the general tone of community governance (cooperative and well-managed vs. contentious and dysfunctional).
The guard service contract (for guard-gated communities) is a specific document that buyers in guard-gated communities should review carefully. Key terms to assess include: the contract duration and renewal terms; the security company’s training standards and background check procedures for guards; the staffing level requirements (is 24/7 coverage contractually guaranteed, or is there a provision for reduced staffing during slow periods?); protocols for visitor management and vehicle logging; emergency response procedures; and the contract cost relative to the HOA budget allocation for security. A guard service contract that provides genuine 24/7 coverage with qualified personnel at a funded budget level is the foundation of guard-gated security; a contract that allows staff reduction during certain hours or that is with an underfunded security company is a security-level risk that should be disclosed and understood before purchase.
Visitor and contractor access procedures deserve specific evaluation from the perspective of the buyer’s intended lifestyle. Some guard-gated communities have highly specific visitor management protocols that work smoothly for residents who have a predictable social calendar and a stable contractor relationship list, but create significant friction for residents who frequently host spontaneous guests, use multiple delivery and rideshare services, or rotate through contractors for home maintenance. Ask the HOA management company for written documentation of the current visitor management procedures, specifically including: how visitors are registered (pre-registration vs. call-from-gate vs. resident remote-open); how food delivery and rideshare services are handled; what procedures apply to contractors and service providers who may not be on a resident’s pre-approved list; and whether there is a mobile app or online resident portal for managing visitor access. Communities with modern technology-supported visitor management (app-based remote entry, camera review, digital visitor logs) deliver meaningfully better daily experiences than communities still operating on manual phone-call procedures.
Visit the community gate in person, at multiple times of day including evening and weekend hours. Observe entry procedures for residents, delivery vehicles, and visitor callbox interactions. Ask the HOA management company for the gate maintenance log for the past 24 months, specifically looking for any periods of non-function exceeding 48 hours. Confirm whether the gate is operational 24/7 or has scheduled open periods. For guard-gated communities, ask to speak with the security company supervisor about staffing levels and incident procedures.
Request the most current reserve study, typically prepared within the last 2–3 years by a qualified reserve specialist. Identify the total recommended reserve balance versus the actual current funded reserve balance. Calculate the funded percentage (actual/recommended x 100). Funded reserves below 50% indicate a materially underfunded community where special assessments are possible. Funded reserves at 70–100% indicate responsible long-term planning. Ask whether the reserve study specifically addresses gate and security infrastructure replacement costs and timeline.
Meeting minutes are a required disclosure. Read all of them for the past 12 months, not just a summary. Look specifically for: gate security incidents or complaints; special assessment discussions or votes; HOA fee increase proposals; board member disputes or election controversies; legal actions involving the HOA or individual owners; and any recurring issues with specific homeowners or sections of the community. The minutes reveal the community’s actual governance quality and current issues more accurately than any marketing material.
Gated community CC&Rs are often more restrictive than access-controlled alternatives because the resident base has paid a premium for community character and has higher enforcement expectations. Specifically review: short-term rental restrictions (STR prohibitions are common in guard-gated communities); vehicle restrictions (commercial vehicles, RVs, boats, number of vehicles); pet restrictions (breed, size, number); exterior modification approval processes; leasing restrictions (minimum lease terms, tenant screening requirements); and any rental caps that limit the percentage of community homes that can be leased simultaneously. Discovering a STR prohibition after closing on a property purchased for rental income is a preventable outcome.
Arizona law requires HOAs to disclose any pending or recently approved special assessments to buyers, but the timing and extent of required disclosure varies. Ask the HOA management company directly: “Are there any pending special assessments, proposed special assessments under board discussion, or capital projects identified in the reserve study that are likely to require special assessment funding in the next 3–5 years?” A straight question gets a more useful answer than relying on the standard disclosure checklist alone. Major gate replacements, guardhouse renovations, or community security system upgrades that have been identified but not yet funded are worth knowing about before closing, not discovering in the first HOA newsletter after you move in.
Access-Controlled vs Guard-Gated: Which Is Worth the Premium for Your Situation?
The decision between access-controlled and guard-gated community living is not simply a question of how much security you want — it is a question of matching your actual security needs, lifestyle preferences, and budget to the specific security level that each gate type delivers. Paying the guard-gated premium when your actual security requirements would be fully satisfied by access-controlled community living is an inefficient use of housing budget that could be redirected to more home, better location, or more amenities. Settling for access-controlled when your actual situation calls for guard-gated security is a false economy that leaves a meaningful security gap in exchange for modest savings on a million-dollar-plus real estate transaction.
Guard-gated is worth the premium in specific circumstances that are identifiable before purchase. If you are a public figure, executive, or celebrity whose residential address is something that you genuinely need to protect from public access, guard-gated is not a luxury but a practical security requirement — the documented visitor log and the staffed entry barrier are the mechanisms that make the security posture real rather than theatrical. If you are a frequent international or extended domestic traveler whose home will be unoccupied for weeks or months at a time, the guard-gated presence significantly reduces the risk profile of the vacant property relative to access-controlled alternatives. If you have experienced specific security incidents at a prior residence that make you genuinely security-conscious rather than security-marketing-conscious, guard-gated delivers a measurably higher security level that the data supports. If your peer group and professional context means that your residential address is a component of your professional identity — and guard-gated communities carry the right address signal for that context — the premium serves a social and professional function beyond the pure security benefit.
Access-controlled is likely sufficient — and a more efficient use of budget — for the majority of Phoenix metro buyers who specify “gated community” as a search criterion. The primary benefits they are actually seeking are: through-traffic elimination on residential streets; HOA appearance standard consistency; the lifestyle identity of a managed community; and the mild general security benefit of living in a community where casual entry without purpose is inconvenient. All of these benefits are delivered by access-controlled communities at significantly lower HOA cost and at purchase prices that, dollar for dollar, typically buy more home in an access-controlled community than in a guard-gated one. Buyers who have processed their actual needs honestly rather than responding to the aspirational pull of “guard-gated” as a status signal often find that access-controlled community living meets their real requirements at a more efficient price point.
The honest assessment is that the guard-gated premium is genuinely worth paying for a relatively small percentage of Phoenix metro buyers whose actual circumstances justify it, and is an inefficient luxury for the larger percentage whose security and lifestyle needs would be fully met by access-controlled community living. Ryan Moxley helps buyers make this assessment honestly — not by steering toward lower-priced options to earn less commission, but because buyers who are clear-eyed about what they are paying for make better long-term real estate decisions and express higher satisfaction with their purchases over time than buyers who bought what they thought they wanted rather than what they actually needed.
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Choose guard-gated if: You are a public figure, executive, or individual with a specific security risk profile; you travel extensively and your home is frequently unoccupied; your residential address is part of your professional identity; you have experienced specific prior security incidents; or you have family members with medical dependencies or security vulnerabilities that make a higher security baseline genuinely important rather than merely reassuring.
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Choose access-controlled if: Your primary goals are through-traffic reduction, HOA appearance consistency, and the lifestyle identity of a managed community; you are present in your home regularly and your absence periods are short and predictable; your social calendar involves frequent spontaneous guests and you find the visitor management friction of guard-gated entry more annoying than the security benefit is valuable; or your budget would buy meaningfully more home in an access-controlled community than in the nearest guard-gated equivalent.
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Verify before you commit: Whatever gate type you target, verify the specific gate’s operational status, maintenance history, and HOA financial health before submitting an offer. The listing-sheet “gated” classification does not tell you whether the gate actually functions at the level implied by the community’s price point and marketing. Ryan verifies this on every gated community transaction before any offer document is drafted.
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Model the total cost. HOA fees are not incidental. The difference between a $150/month access-controlled HOA and a $600/month guard-gated HOA is $450/month — $5,400/year — that compounds over your ownership period and limits the purchase price you can support at a given monthly payment. Factor full HOA costs into your affordability analysis, not just the purchase price.
How to Find Gated Communities in Arizona: MLS, Builder Products, and Off-Market Access
Finding gated communities in the Arizona MLS requires both the right search parameters and the right skepticism about the accuracy of the data that search returns. The ARMLS (Arizona Regional Multiple Listing Service) includes a “Gated Subdivision” field that agents can select when entering a listing, and a separate “Guard Gated” field for communities with staffed security. In theory, these fields allow buyers to filter their search to gated or guard-gated communities specifically. In practice, the fields are agent-entered and are not verified by ARMLS against any external standard: listings in non-gated communities are occasionally tagged “gated”; listings in access-controlled communities are sometimes tagged “guard gated”; and listings in genuinely guard-gated communities occasionally have neither field checked due to agent data-entry oversight.
The most reliable approach to finding gated communities in Arizona combines MLS search with agent knowledge verification. Ryan Moxley knows which specific communities in his market areas are genuinely guard-gated versus access-controlled versus symbolic-gate, and which MLS classifications are accurate or misleading in the specific neighborhoods where he has transacted. For buyers who are new to the Phoenix market, working with an agent who has this specific community-level knowledge is more efficient than conducting personal research into MLS-classified communities that may or may not match the gate-type expectation that the MLS tag implies.
New construction gated communities are produced by multiple major Phoenix metro builders and represent one of the most reliable ways to acquire a gated community home with known gate technology, funded HOA reserves (because the reserve is new), and warrantied infrastructure. Taylor Morrison, Toll Brothers, Shea Homes, and David Weekley all build gated product in Phoenix metro at various price points. New construction gated communities offer the advantage of modern gate technology (RFID, license plate recognition, mobile app access management), well-funded initial reserves, and builder warranty coverage on gate infrastructure. The trade-off is that new communities lack the established community culture, mature landscaping, and developed amenity track record of established gated communities that have been operating for 10+ years. For buyers who prioritize modern gate technology and builder-warranty infrastructure over established community character, new construction gated communities are a strong option in the Phoenix metro.
Off-market gated community inventory exists at the luxury end of the market and is most significant in Paradise Valley, Silverleaf, and the most exclusive north Scottsdale guard-gated enclaves. In these communities, a meaningful percentage of transactions occur through agent-to-agent outreach, direct buyer-to-seller contact facilitated by estate agents, or through private community networks rather than through public MLS listing. Sellers in these communities often prefer the privacy of off-market sale over the MLS exposure that brings unqualified buyers and photographers through their gates, and buyers who are established members of the high-net-worth buyer pool that these communities attract often prefer the discretion of off-market acquisition. Ryan Moxley maintains awareness of pre-market and off-market opportunities in the communities he covers through his agent network, and can alert qualified buyers to opportunities before they reach MLS or instead of MLS.
STR-focused buyers evaluating gated communities should approach community selection with specific research discipline beyond the standard gate-type verification. The STR permissibility question in gated communities requires review of the specific community’s CC&Rs, not just the municipal STR regulations for the city of record. Many Scottsdale gated communities in areas with favorable municipal STR regulations still prohibit STR in their HOA governing documents, and the CC&R restriction is enforceable independently of municipal rules. Some communities that prohibit STR in their CC&Rs are lax about enforcement, creating a gray market of STR activity that works for existing owners but creates legal risk for new buyers who rely on the community’s informal tolerance rather than explicit CC&R permission. Always get written HOA confirmation of STR policy — informal community norms are not binding on HOA enforcement if the board changes or a neighbor files a complaint.
MLS search: Use “Gated Subdivision” and “Guard Gated” fields as a starting filter, then verify gate type with agent knowledge — MLS classifications are unverified and frequently inaccurate. Builder new construction: Taylor Morrison, Toll Brothers, Shea Homes, David Weekley build gated product with modern technology and funded new-community reserves. Off-market: Most relevant in Paradise Valley, Silverleaf, and upper-end north Scottsdale — requires agent network access. STR research: Verify CC&Rs directly — municipal STR permissibility and HOA CC&R permissibility are independent and can conflict.
Financing Gated Community Purchases: HOA Fees, Jumbo Loans, and Qualification Considerations
Gated community purchases do not require special financing programs or unusual loan products — standard conventional, FHA, VA, and jumbo financing are all available for gated community homes, subject to the same qualification criteria that apply to any home purchase at the relevant price point. However, gated communities do create two specific financial considerations that buyers should model carefully before finalizing their target price range and loan pre-qualification: the impact of HOA fees on mortgage qualification (debt-to-income ratios), and the jumbo loan requirements that apply to the price ranges where most guard-gated Arizona communities transact.
HOA fees count as monthly debt obligations in mortgage qualification calculations. Lenders calculate the total housing payment (PITI plus HOA fees) as a percentage of gross monthly income (the front-end debt-to-income ratio), and higher HOA fees reduce the maximum loan amount a buyer can qualify for at a given income level. A $600/month HOA fee — typical for a guard-gated community in Scottsdale — at a conventional conforming loan limit creates approximately $100,000 in reduced purchase-price qualification compared to a comparable income level with a $150/month HOA. This is not a minor adjustment: buyers who are shopping at the top of their qualification range should model the specific HOA fee for their target community — not a generic estimate — before finalizing their target price range. Ryan Moxley coordinates with his buyer clients’ lenders at the start of the search process rather than at contract to ensure the HOA fee is incorporated into the pre-qualification from the outset.
Guard-gated community home prices in Arizona frequently exceed the conventional conforming loan limit ($766,550 in most Arizona counties in 2026 for a single-family home), requiring jumbo financing. Jumbo loan products differ from conventional conforming loans in several important ways that gated community buyers at the $1M+ price point should understand: jumbo lenders typically require larger down payments (20–25% is common versus 3–10% for conforming), higher credit score thresholds (720–740+ is common for the best jumbo rates), more extensive documentation of assets and income, and larger cash reserve requirements after closing. Interest rates on jumbo loans can be higher or lower than conforming rates depending on market conditions and the specific lender — jumbo rates are more variable than conforming rates, and lender shopping is more consequential at the jumbo level than at conforming.
FHA and VA financing are technically available in most gated communities, including access-controlled communities, subject to the standard FHA and VA property condition requirements and the specific FHA/VA requirements for HOA financial health and warrantability. FHA and VA do not prohibit gated community purchases. However, FHA and VA have specific HOA financial health requirements — reserve fund minimums, owner-occupancy ratios, delinquency rate limits — that some gated community HOAs may not meet, particularly in communities with significant investor/rental concentrations or underfunded reserves. Buyers using FHA or VA financing in a gated community should verify HOA warrantability with their lender early in the process rather than discovering a warrantability issue during the loan underwriting phase.
Special assessment risk is a financial consideration that is heightened in gated communities relative to comparable non-gated communities. The capital infrastructure of a gated community — gate equipment, guardhouse facilities, security systems, community perimeter walls — represents a category of capital assets that all residents share and that can require significant replacement investment on timelines that do not always align with the HOA’s funded reserve position. A community where the reserve study shows 35% funded status for gate replacement infrastructure may be 3–5 years from a mandatory special assessment to fund the replacement. This is a foreseeable but often unacknowledged financial liability that reduces the true value of the community relative to its list price, and that should be factored into purchase price negotiation when reserve fund deficiencies are identified during due diligence.
Working with Ryan Moxley on Gated Community Purchases
Gated community purchases in Arizona involve a specific body of knowledge and pre-transaction due diligence that is not standard in general Phoenix-metro real estate practice. The most important elements — gate type verification, HOA financial health review, CC&R analysis for use restrictions, guard service contract assessment for guard-gated communities, and reserve fund adequacy evaluation — are all pre-offer activities that determine whether the offer price reflects the community’s actual quality and financial position. Ryan Moxley’s approach treats gated community due diligence as a pre-offer process rather than an inspection-period discovery, because information discovered before the offer is negotiating leverage, while information discovered after the offer is signed is a problem to manage.
Ryan Moxley is a top 1% Arizona REALTOR® with My Home Group who has worked with buyers throughout the spectrum of Arizona gated communities: from East Valley access-controlled communities in the $500K range through guard-gated Scottsdale enclaves and Paradise Valley private communities at the $5M+ level. This breadth of gated community experience across price points and community types means he has developed a calibrated understanding of what the gated community premium actually buys in specific communities versus what the marketing suggests it buys — a distinction that is not visible from listing sheets or MLS data and that requires the community-by-community transactional knowledge that accumulates only through active practice.
For buyers relocating to Arizona from markets where gated communities are less common — particularly buyers from California, the Northeast, or the Pacific Northwest where even luxury communities are rarely gated in the Arizona sense — Ryan provides specific orientation to the Arizona gated community landscape that prevents the most common category of misaligned expectations. The differences between markets in what “gated community” means, how HOA governance works in Arizona under the Arizona Planned Community Act and Condominium Act, and the specific due diligence processes that Arizona real estate law and practice require are context that significantly improves the purchase experience for buyers who arrive without it.
For sellers in gated communities, Ryan’s marketing strategy for guard-gated properties specifically emphasizes the security and lifestyle attributes of the gate in marketing materials directed at the buyer segments for whom these attributes are primary decision criteria — executives and public figures who require guard-gated security, snowbirds and frequent travelers who value the vacant-property protection, and buyers relocating from other guard-gated communities in other markets who carry specific expectations about what guard-gated means. Marketing a Silverleaf listing or a DC Ranch Country Club listing to a generic Phoenix metro buyer pool is less effective than marketing it to the specific buyer demographic whose lifestyle and security requirements match what these communities deliver. Ryan’s digital marketing strategy, including the neighborhood-specific content that appears in organic search results where this buyer demographic researches Arizona communities, is built around this targeted approach.
Whether you are searching for your first gated community home in the Phoenix metro, evaluating the move from access-controlled to guard-gated at a higher price tier, or selling a gated community property and want to maximize the gate’s contribution to your marketing story and pricing position, Ryan Moxley’s knowledge of the Arizona gated community market is available to you before you sign anything. Call or text Ryan at (480) 227-9143, or use the contact form below, to start a conversation about your specific gated community search or sale.