Scottsdale AZ Real Estate & Lifestyle

Live Better in Scottsdale - eXp Realty

Heather Tawes Nelson

Scottsdale AZ Single Family Home Sales – December 2023

By

– December 2023 Scottsdale Homes for Sale and Home Sales –

December saw declines on all fronts this year. In some previous years, we have seen an uptick in sales as buyers who wanted a new home before the end of the year made it happen. However, we did not see that same trend this year.

SCOTTSDALE HOME SALES ACTIVITY – DECEMBER 2023

We track the four sales metrics on a monthly basis:

– Single-family homes for sale – Orange Line – The number of homes on the market at the end of the month.
– Under contract, but accepting backup offers (UCB) – Gray Line – How many homes were in UCB status at the end of the month.
– Pending home sales – Yellow Line – The number of pending contracts at the end of the month.*
– Home Sales – Blue Line – The number of homes that closed during the month.

DECEMBER 2023 RESULTS

Scottsdale home sales December 2023
  • Scottsdale Homes for Sale: Inventory took a pretty big dip between the end of November and the end of December. However, it should be noted that many listing agreements expire at the end of the year and some sellers take their homes off of the market during the holidays, so some of this activity is normal.
  • UCB (Under contract, accepting backup offers): The number of UCBs fell to the lowest we have seen in the past year. However, it is not unusual for buyers to put off their searches during the holidays.
  • Pending Homes Sales in Scottsdale: Pending sales also fell to their lowest level of the year and seasonality played a factor here as well.
  • Scottsdale Home Sales: Home sales were down 3% when compared to November. However, this is a pretty decent result to close out the year.

Now, we will explore two other metrics we use to keep an eye on the market.

Scottsdale real estate market December 2023


Percent Change Month Over Month – This is where we track performance on a month-over-month basis. For example, the number of UCB contracts fell 26% between the end of November and the end of December.

Sales Price to List Price – Here, we are comparing home list prices to actual sales prices. In December, this came in at 96%, meaning buyers on average saw a 4% discount off of asking prices.

*Figures for active homes for sale, UCB sales and pending sales are based on the numbers at the end of the month.

Curious about your buying power? Click on the link to learn more.

Search Scottsdale AZ Homes for Sale

Disclaimer: Data and information were pulled from the Arizona Regional MLS (ARMLS) as of 1/1/2024. Information deemed reliable, but not guaranteed. There may be new home inventory in these figures if the developer is using the MLS to market its homes. This post represents the opinion of the author. No warranties express or implied.
Copyright © 2024 Heather Tawes Nelson | Joyce Tawes

Things to Do in Scottsdale – January 2024

By

– Scottsdale Events – January 2024 –

Welcome to 2024! 2023 seemed to go by so quickly, but now that we are officially into 2024, some of the biggest events of the season will be here soon.

Here are some hand-picked ideas for things going on in January in and around Scottsdale:

  • ZooLights at the Phoenix Zoo – Ends January 14th – If you are not ready to say goodbye to the holidays yet, ZooLights will run through the 14th. Millions of lights and creative displays transform the zoo into a magical wonderland.

  • Arizona Fine Art Expo – January 12th – March 24th – This award-winning art show comes to Scottsdale annually and is worth a visit. Watch talented artists create their work and there are so many mediums represented. If you purchase a season pass, you can come back and visit as much as you would like over the course of the 10 weeks. There is also an on-site cafe to enjoy each day.
  • Rock ‘n’ Roll Marathon – January 13th- 14th – The Rock ‘n’ Roll Marathon is back! Enjoy live music all along the course as you run through Tempe and Scottsdale. The 5K and the Kids Rock 1/2 or 1 mile races take place on Saturday. And on Sunday, the 10K and Half Marathons will be run. This is a super fun event with great energy.
  • Celebration of Fine Art – January 13th – March 24th – Along with the Arizona Fine Art Expo, the Celebration of Fine Art is another very popular art event. One hundred artists in residence will be creating their fantastic work spanning many mediums.
  • MLK Little League Tune-Up Clinic – January 15th – This three hour clinic for players aged 5-12 will be a lot of fun! Not only do they get to use the Salt River Fields baseball facilities, but they will be coached by former MLB/Minor League coaches and players!
  • Carefree Art & Wine Festival – January 19th – 21st – This year marks 31 years of this fun art and wine festival. Over 155 juried artists will be displaying their incredible art. Watercolors, sculptures, photography and more will be available for purchase.  And if you would like some wine as you stroll, a wine-tasting ticket and glass can be purchased.
  • Foreigner – January 19th – Foreigner will be kicking off the start of Barrett-Jackson with an electrifying Rock the Block performance.
  • Barrett-Jackson Collector Car Auction – January 20th – 28th – One of the most exciting annual events returns at the end of the month.  Barrett Jackson is back! WestWorld will be hosting this world-class auction of some of the most exclusive collector cars around. This is an exciting and another not-to-miss event!
  • Arizona Concours d’Elegance – January 21st – The Concours d’Elegance collector car exhibition will return take place in the newly designed Scottsdale Civic Center and will benefit Scottsdale Arts.
  • Joe Satriani G3 Tour Featuring Eric Johnson and Steve Vai – January 26th – Ready for some insanely good guitar performances? Head over to the Talking Stick to see the trio who kicked off the original G3 tour in 1996.
  • Scottsdale Western Week – January 27th – February 4th – This is a not-to-be-missed event is jam-packed with activities. Art lovers will appreciate the Golden Palette ArtWalk and access to the Western Spirit Museum. The Hashknife Pony Express will ride into town with over 20,000 pieces of mail to be delivered. And not to be outdone, the Parada del Sol parade and the Arizona Indian Festival will also take place. Add to all of this live music performances, food trucks and so much more makes it a great way to celebrate Scottsdale’s Western heritage.
  • A Taste of AZ Food Festival – January 27th –  Spend the afternoon enjoying food from popular local restaurants and sample local brews and drinks as well. This is a new festival and they anticipate it will sell out, so be sure to buy your tickets in advance. (21+)

As always, this is a partial list. Please feel free to add any other January events in the comments section.

Scottsdale AZ Luxury Home Market – November 2023

By

– Scottsdale Luxury Home Market Performance for November 2023 –

November was a mixed bag in terms of sales and sales activities. Some price points saw increased sales and contract activity and others declined. But, as we saw last month, inventory was up or level in all price points.

This report takes a look at the luxury home market in Scottsdale. We have broken the sales information into four price points to try and see the activity in more detail.

– NOVEMBER 2023 –

Scottsdale Homes Priced Between $1,000,000 – $1,499,999

Scottsdale home sales between 1 and 1.5 million November 2023

– Active Scottsdale Homes on the Market: The number of homes for sale landed at the second-highest level we have seen in the past year. Inventory increased 20% between October and November.
– UCB Scottsdale Home Sales: UCB contracts closed out the month at 24. This is the second-lowest we have seen them in the past year.
– Pending Scottsdale Home Sales: Pendings saw another significant decline in November, dropping by 44.4%. The eighteen pending sales is incredibly lower than the 12 month average of 45.
– Scottsdale Homes Sold: While UCBs and pending fell in November, we did see a strong sales month in November.
– Sales Price to Listed Price: 96.9%- On average, buyers saw a discount of 3.1% off of list price.

Scottsdale Homes Priced Between $1,500,000 – $1,999,999

Scottsdale home sales between 1.5 and 2 million November 2023

– Active Scottsdale Homes on the Market: Inventory was level when looking at the end of October and November.
– UCB Scottsdale Home Sales: UCB contracts are moving back up after two tough months and closed out slightly ahead of the 12 month average.
– Pending Scottsdale Home Sales: Pending sales also moved up in November.
– Scottsdale Homes Sold: Thirty homes sold in November, the first increase after a few months of decline.
– Sales Price to Listed Price: 98.1% – On average, buyers saw a discount of 1.9% off of list price.

Scottsdale Homes Priced Between $2,000,000 – $2,999,999

Scottsdale home sales between 2 and 3 million November 2023

– Active Scottsdale Homes on the Market: Inventory saw another jump in November to 173. This is very easily the highest we have seen it in the past year.
– UCB Scottsdale Home Sales: The number of UCB contracts fell 88.9% between October and November. This also is the lowest we have seen this by far in the past year.
– Pending Scottsdale Home Sales: Pending sales were down 40.9% in November and posted the worst performance we have seen in the past year.
– Scottsdale Homes Sold: On a positive note, sales were up slightly and the month closed out with 32 sales, on par with the 12 month average.
– Sales Price to Listed Price: 96.1% – On average, buyers saw a discount of 3.9% off of list price.

Scottsdale Homes Priced $3,000,000+

Scottsdale home sales over 3 million November 2023

– Active Scottsdale Homes on the Market: The big run-up in inventory we saw in October slowed in November and there was only one net add at the end of the month.
– UCB Scottsdale Home Sales: The number of UCBs was up slightly to 17, on par with the 12 month average.
– Pending Scottsdale Home Sales: Pending sales got right back into the game in November and closed out at the second-highest level of the past 12 months.
– Scottsdale Homes Sold: After an amazing October, sales fell significantly in November, closing out the month at 16. This is the second-lowest they have been in the past 12 months.
– Sales Price to Listed Price: 92.1% – On average, buyers saw a discount of 7.9% off of list price.

If you would like additional details on home sales activity, please visit our Scottsdale Luxury Home Market Reports page and click on the downloadable “Scottsdale Market Trends” report.

Search Scottsdale Luxury Homes for Sale

Here is a sample of some luxury homes that are currently for sale:

819 Listings
Heated Diving Pool & Spa include LED lighting, large green backyard with room for casita, sport court or whatever you'd like to add to this spacious yard with fruit trees and a regulation batting cage at the west end of this property.

$1,640,000 7235 E Paradise Drive
Scottsdale, AZ 85260 7235 E Paradise Drive
Scottsdale, AZ 85260Listing office: West USA Realty

11917 E MARIPOSA GRANDE Drive, Scottsdale, AZ 85255

$1,650,000 11917 E MARIPOSA GRANDE Drive
Scottsdale, AZ 85255 11917 E MARIPOSA GRANDE Drive
Scottsdale, AZ 85255Listing office: Coldwell Banker Realty

9424 E HIDDEN SPUR Trail, Scottsdale, AZ 85255

$2,650,000 9424 E HIDDEN SPUR Trail
Scottsdale, AZ 85255 9424 E HIDDEN SPUR Trail
Scottsdale, AZ 85255Listing office: Silverleaf Realty

7211 E SUNNYSIDE Drive, Scottsdale, AZ 85260

$1,874,900 7211 E SUNNYSIDE Drive
Scottsdale, AZ 85260 7211 E SUNNYSIDE Drive
Scottsdale, AZ 85260Listing office: Platinum Living Realty

9487 E TRAILSIDE View, Scottsdale, AZ 85255

$1,285,000 9487 E TRAILSIDE View
Scottsdale, AZ 85255 9487 E TRAILSIDE View
Scottsdale, AZ 85255Listing office: Platinum Living Realty

Aerial shows back & side to desert space, only 1 neighbor. New roof 2019. Two Bedrooms, Den, 2.5 Baths

$1,060,000 6924 E CANYON WREN Circle
Scottsdale, AZ 85266 6924 E CANYON WREN Circle
Scottsdale, AZ 85266Listing office: RE/MAX Excalibur

23216 N 95TH Street, Scottsdale, AZ 85255

$6,750,000 23216 N 95TH Street
Scottsdale, AZ 85255 23216 N 95TH Street
Scottsdale, AZ 85255Listing office: RETSY

26808 N 150TH Street, Scottsdale, AZ 85262

$2,250,000 26808 N 150TH Street
Scottsdale, AZ 85262 26808 N 150TH Street
Scottsdale, AZ 85262Listing office: Unique Homes Realty, Inc

16 X 9 FOOT GLASS DOOR

$1,900,000 6501 E MONTE CRISTO Avenue
Scottsdale, AZ 85254 6501 E MONTE CRISTO Avenue
Scottsdale, AZ 85254Listing office: HomeSmart

MLS IDX Listing Disclosure © 2024

Copyright 2024 Arizona Regional Multiple Listing Service, Inc. All rights reserved. Information Not Guaranteed and Must Be Confirmed by End User. Site contains live data.

Disclaimer: Information deemed reliable but not guaranteed. Data and information were pulled from the Arizona Regional MLS (ARMLS) as of 12/1/2023 and can change at any time. The analysis looks at single-family luxury resale homes in Scottsdale AZ over the last 12 months. There may be new home inventory in these figures if the developer is using the MLS to market its homes. This blog represents the opinion of the author. No warranties expressed or implied.
Copyright ©2023 Heather Tawes Nelson | Joyce Tawes

Why Mortgage Rates Could Continue To Decline

By

When you read about the housing market, you’ll probably come across some information about inflation or recent decisions made by the Federal Reserve (the Fed). But how do those two things impact you and your homebuying plans? Here’s what you need to know.

The Federal Funds Rate Hikes Have Stalled

One of the Fed’s primary goals is to lower inflation. In order to do that, they started raising the Federal Funds Rate to slow down the economy. Even though this doesn’t directly dictate what happens with mortgage rates, it does have an impact.

Recently inflation has started to cool, a signal those increases worked and are bringing inflation back down. As a result, the Fed’s hikes have gotten smaller and less frequent. In fact, there haven’t been any increases since July (see graph below):

And not only has the Fed decided not to raise the Federal Funds Rate the last three times the committee met, they’ve signaled there may actually be rate cuts coming in 2024. According to the New York Times (NYT):

“Federal Reserve officials left interest rates unchanged in their final policy decision of 2023 and forecast that they will cut borrowing costs three times in the coming year, a sign that the central bank is shifting toward the next phase in its fight against rapid inflation.”

This indicates the Fed thinks the economy and inflation are improving. Why does that matter to you and your plans to buy a home? It could end up leading to lower mortgage rates and improved affordability.

Mortgage Rates Are Coming Down

Mortgage rates are influenced by various factors, and inflation and the Fed’s actions (or as has been the case recently, inaction) play a big role. Now that the Fed has paused the increases, it looks more likely mortgage rates will continue their downward trend (see graph below):

Although mortgage rates may remain volatile, their recent trend combined with expert forecasts indicate they could continue to go down in 2024. That would improve affordability for buyers and make it easier for sellers to move since many won’t feel as locked in to their current, low mortgage rate.

Bottom Line

The Fed’s decisions have an indirect impact on mortgage rates. By not raising the Federal Funds Rate, mortgage rates are likely to continue declining. Let’s connect so you have expert advice about changes in the housing market and how they affect you.

Phoenix and Scottsdale AZ Luxury Condo Sales – November 2023

By

Luxury Condo Sales in Scottsdale and Phoenix – November 2023

Scottsdale and Phoenix’s luxury condo slowed slightly in November, but we did see a nice increase in the number of units for sale and pending sales. 

To be included in this analysis, the condos need to have an asking price of $1 million or more. 

ACTIVE LISTINGS AT THE END OF NOVEMBER

Inventory saw a decent jump during November. The number of luxury condos for sale was up to fifty-eight, compared to forty-nine at the end of October.

The most expensive condo for sale is located in ICON at Silverleaf. With an asking price of $6,900,000, the home comes with five bedrooms, five and one-half bathrooms and an expansive 5,534 square feet. 

The least expensive condo for sale was located in Portico Scottsdale Condominiums. It has two bedrooms, two and one-half bathrooms and 1,674 square feet. It was listed for $1,007,500.

UCB* LUXURY CONDO SALES IN SCOTTSDALE AND PHOENIX

Three luxury condos were in UCB status at the end of November.

UCB Condos in Scottsdale

  • Optima Camelview – Three bedrooms, three and one-half bathrooms, 3,223 square feet. Asking price was $2,695,000.

UCB Condos in Phoenix

  • Crystal Point – Two bedrooms, two and one-half bathrooms, 2,718 square feet. Asking price was $1,100,000.
  • Toscana at Desert Ridge – Two bedrooms, two and one-half bathrooms, 1,780 square feet. Asking price was $1,225,641.

PENDING LUXURY CONDO SALES IN SCOTTSDALE AND PHOENIX

Pending sales continued their upward trajectory, fueled by several communities under development. At the end of October, there were eighty-nine pendings and at the end of November, there were ninety-six. I have no doubt we will see this number surpass one hundred soon! 

Scottsdale Pending Luxury Condos

  • Retreat at Seven Desert Mountain – Three bedrooms, three and one-half bathrooms, 2,489 square feet. Asking price was $1,984,900.
  • Optima Kierland – Three bedrooms and bathrooms, 2,018 square feet. Asking price was $3,500,000.
  • Plaza Lofts at Kierland – Two bedrooms and bathrooms, 1,592 square feet. Asking price was $1,395,000.
  • Portico Scottsdale Condominiums – This is a new development in North Scottsdale.
    • Two bedrooms, two and one-half bathrooms, 1,939 square feet. Asking price was $1,025,000.
    • Two bedrooms, two and one-half bathrooms, 1,939 square feet. Asking price was $1,060,000.
    • Two bedrooms, two and one-half bathrooms, 1,939 square feet. Asking price was $1,064,650.
    • Three bedrooms and bathrooms, 2,396 square feet. Asking price was $1,444,500.
    • Three bedrooms and bathrooms, 2,396 square feet. Asking price was $1,475,000.
    • Three bedrooms and bathrooms, 2,396 square feet. Asking price was $1,505,000.
    • Three bedrooms and bathrooms, 2,396 square feet. Asking price was $1,587,000.
    • Four bedrooms, three and one-half bathrooms, 2,768 square feet. Asking price was $1,658,500.
    • Three bedrooms and bathrooms, 2,396 square feet. Asking price was $1,660,000.
    • Three bedrooms and bathrooms, 2,396 square feet. Asking price was $1,730,000.
    • Three bedrooms and bathrooms, 2,396 square feet. Asking price was $1,733,400.
    • Four bedrooms, three and one-half bathrooms, 2,768 square feet. Asking price was $1,743,000.
    • Four bedrooms, three and one-half bathrooms, 2,768 square feet. Asking price was $1,769,000.
    • Four bedrooms, three and one-half bathrooms, 2,768 square feet. Asking price was $1,814,400.
    • Four bedrooms, three and one-half bathrooms, 2,768 square feet. Asking price was $1,845,750.
    • Four bedrooms, three and one-half bathrooms, 2,768 square feet. Asking price was $1,899,000.
    • Four bedrooms, three and one-half bathrooms, 2,768 square feet. Asking price was $1,935,000.
    • Four bedrooms, three and one-half bathrooms, 2,768 square feet. Asking price was $2,007,000.
    • Four bedrooms, three and one-half bathrooms, 2,768 square feet. Asking price was $2,016,950.
  • Ascent at the Phoenician – This is another fantastic development underway.
    • One bedroom, one and one-half bathrooms, 1,698 square feet. Asking price was $1,475,000.
    • Two bedrooms, two and one-half bathrooms, 1,847 square feet. Asking price was $1,600,000.
    • One bedroom, two bathrooms, 1,519 square feet. Asking price was $1,725,000.
    • One bedroom, two bathrooms, 1,519 square feet. Asking price was $1,725,000.
    • One bedroom, two bathrooms, 1,896 square feet. Asking price was $1,975,000.
    • Two bedrooms, two and one-half bathrooms, 1,767 square feet. Asking price was $2,025,000.
    • Two bedrooms, two and one-half bathrooms, 2,374 square feet. Asking price was $2,050,000.
    • Two bedrooms and bathrooms, 1,847 square feet. Asking price was $2,075,000.
    • One bedroom, two bathrooms, 1,677 square feet. Asking price was $2,100,000.
    • One bedroom, two bathrooms, 1,678 square feet. Asking price was $2,100,000.
    • One bedroom, two bathrooms, 1,678 square feet. Asking price was $2,175,000.
    • One bedroom, two bathrooms, 1,677 square feet. Asking price was $2,195,000.
    • Two bedrooms and bathrooms, 2,157 square feet. The asking price was $2,225,000.
    • Two bedrooms, two and one-half bathrooms, 2,679 square feet. Asking price was $2,285,000.
    • Two bedrooms, three bathrooms, 2,157 square feet. Asking price was $2,350,000.
    • Two bedrooms and bathrooms, 2,294 square feet. Asking price was $2,385,000.
    • Two bedrooms, two and one-half bathrooms, 2,679 square feet. Asking price was $2,395,000.
    • Two bedrooms, two and one-half bathrooms, 1,848 square feet. Asking price was $2,395,000.
    • Two bedrooms, three bathrooms, 2,294 square feet. Asking price was $2,395,000.
    • Two bedrooms, three bathrooms, 2,157 square feet. Asking price was $2,425,000.
    • Two bedrooms and bathrooms, 2,068 square feet. Asking price was $2,485,000.
    • Two bedrooms, two and one-half bathrooms, 2,160 square feet. Asking price was $2,485,000.
    • Two bedrooms, two and one-half bathrooms, 1,848 square feet. Asking price was $2,625,000.
    • Two bedrooms, three bathrooms, 2,593 square feet. Asking price was $2,695,000.
    • Two bedrooms and bathrooms, 2,157 square feet. Asking price was $2,750,000.
    • Two bedrooms, two and one-half bathrooms, 2,160 square feet. Asking price was $2,795,000.
    • Two bedrooms and bathrooms, 2,579 square feet. Asking price was $2,850,000.
    • Two bedrooms and bathrooms, 2,318 square feet. Asking price was $2,950,000.
    • Two bedrooms and bathrooms, 2,683 square feet. Asking price was $2,985,000.
    • Two bedrooms, three bathrooms, 2,497 square feet. Asking price was $3,050,000.
    • Two bedrooms, three bathrooms, 2,579 square feet. Asking price was $3,100,000.
    • Two bedrooms, three bathrooms, 2,527 square feet. Asking price was $3,275,000.
    • Two bedrooms and bathrooms, 2,318 square feet. Asking price was $3,385,000.
    • Two bedrooms and bathrooms, 2,592 square feet. Asking price was $3,525,000.
    • Two bedrooms and bathrooms, 2,526 square feet. Asking price was $3,695,000.
    • Three bedrooms, three and one-half bathrooms, 3,867 square feet. Asking price was $3,975,000.
    • Three bedrooms, three and one-half bathrooms, 3,996 square feet. Asking price was $4,100,000.
    • Three bedrooms, four bathrooms, 3,037 square feet. Asking price was $4,150,000.
    • Three bedrooms, four bathrooms, 3,200 square feet. Asking price was $4,295,000.
    • Three bedrooms, three and one-half bathrooms, 3,996 square feet. Asking price was $4,450,000.
    • Three bedrooms, three bathrooms, 3,141 square feet. Asking price was $4,475,000.
    • Three bedrooms, three and one-half bathrooms, 3,996 square feet. Asking price was $4,500,000.
    • Three bedrooms, four bathrooms, 3,166 square feet. Asking price was $4,595,000.
    • Three bedrooms and bathrooms, 3,200 square feet. Asking price was $4,725,000.
    • Three bedrooms, three and one-half bathrooms, 3,996 square feet. Asking price was $4,750,000.
    • Three bedrooms, three bathrooms, 3,141 square feet. Asking price was $4,750,000.
    • Three bedrooms, three and one-half bathrooms, 3,996 square feet. Asking price was $4,895,000.
    • Three bedrooms, three and one-half bathrooms, 3,945 square feet. Asking price was $4,950,000.
  • ICON at Silverleaf – Currently under construction.
    • Two bedrooms, three bathrooms, 2,752 square feet. Asking price was $1,995,000.
    • Two bedrooms, three bathrooms, 2,752 square feet. Asking price was $2,150,000.
    • Two bedrooms, three bathrooms, 2,752 square feet. Asking price was $2,500,000.
    • Two bedrooms, three bathrooms, 2,752 square feet. Asking price was $2,625,000.
    • Three bedrooms, four bathrooms, 3,157 square feet. Asking price was $2,700,000.
    • Three bedrooms, four bathrooms, 3,157 square feet. Asking price was $2,750,000.
    • Three bedrooms, four bathrooms, 3,157 square feet. Asking price was $2,800,000.
    • Two bedrooms, three bathrooms, 2,752 square feet. Asking price was $2,900,000.
    • Three bedrooms, four bathrooms, 3,157 square feet. Asking price was $2,900,000.
    • Three bedrooms and bathrooms, 3,157 square feet. Asking price was $2,995,000.
    • Three bedrooms, three and one-half bathrooms, 3,170 square feet. Asking price was $2,995,000.
    • Three bedrooms, four bathrooms, 3,157 square feet. Asking price was $3,175,000.
    • Three bedrooms, four bathrooms, 3,157 square feet. Asking price was $3,195,000.
    • Three bedrooms, four bathrooms, 3,157 square feet. Asking price was $3,200,000.
    • Three bedrooms, four bathrooms 3,157 square feet. Asking price was $3,350,000.
    • Three bedrooms,  four bathrooms, 3,157 square feet. Asking price was $3,600,000.
    • Three bedrooms, four bathrooms, 3,867 square feet. Asking price was $3,600,000.
    • Five bedrooms, five and one-half bathrooms, 5,534 square feet. Asking price was $5,400,000.
    • Five bedrooms, five and one-half bathrooms, 5,534 square feet. Asking price was $5,985,000.
    • Four bedrooms, four and one-half bathrooms, 6,288 square feet. Asking price was $6,900,000.
    • Four bedrooms, four and one-half bathrooms, 6,288 square feet. Asking price was $7,700,000.
    • Four bedrooms, four and one-half bathrooms, 6,288 square feet. Asking price was $7,718,000.
    • Four bedrooms, four and one-half bathrooms, 5,534 square feet. Asking price was $8,000,000
    • Four bedrooms, four and one-half bathrooms, 6,288 square feet. Asking price was $8,350,000. 

Phoenix Pending Luxury Condos

  • Toscana at Desert Ridge -Two bedrooms, two and one-half bathrooms, 1,780 square feet. Asking price was $1,170,977.
  • Esplanade Place – Three bedrooms, three and one-half bathrooms, 4,266 square feet. Asking price was $4,500,000.

LUXURY CONDO SALES IN SCOTTSDALE AND PHOENIX

There were four sales of luxury condos in November and all of them took place in Scottsdale.

Scottsdale Luxury Condo Sales

  • Enclave at the Borgata – Two bedrooms, two and one-half bathrooms, 3,014 square feet. Asking price was $2,500,000 and it sold for $2,400,000.
  • Scottsdale Waterfront Residences – Three bedrooms, three and one-half bathrooms, 3,139 square feet. Asking price was $3,299,000 and it sold for over asking at $3,350,000.
  • Optima Kierland
    • Two bedrooms and bathrooms, 2,704 square feet. Asking price was $3,200,000 and it closed for $3,050,000.
    • Three bedrooms and bathrooms, 2,018 square feet. Asking price was $2,350,000 and it closed for $2,250,000.

Phoenix Luxury Condo Sales

There were no sales in Phoenix in November.


Learn More About Phoenix and Scottsdale Luxury Condos

Search Phoenix and Scottsdale Luxury Condos for Sale 

Disclaimer: Days on market figures are cumulative days on market. Information herein deemed reliable but not guaranteed. Data and information were pulled from the Arizona Regional MLS (ARMLS) as of 12/1/2023 and can change at any time. The analysis looks at resale luxury condos in Scottsdale and Phoenix over the past 12 months. Information deemed reliable, but not guaranteed.  There may be new condo inventory in these figures if the developer is using the MLS to market its homes. This post represents the opinion of the author. No warranties express or implied.
Copyright ©2023 Heather Tawes Nelson | Joyce Tawes

Quick Video Update of the Scottsdale Real Estate Market – November 2023

By

– November 2023 Scottsdale Housing Market Video –

Here is a one-minute video overview of the Scottsdale, Arizona real estate market that covers the month of November.

November 2023 – Video

 

Scottsdale Active Listings

Scottsdale homes for sale November 2023

We closed out the month of November with 1,105 active listings. This is more or less level with October’s 1,106 homes for sale.

If we compare November 2023 to November 2022, actively listed homes were down 1.9%.

Average List Price for Scottsdale Homes

Average list price Scottsdale homes November 2023

I used to use median list price data, but I no longer have access to that information. As a replacement, we will use the average list price. (Technically, the median price is a better indicator since the average price can skew one way or the other due to extremely cheap or extremely high list prices, but this will still give you a decent idea of the prices of homes in Scottsdale.)

The average list price of homes on the market was a little over $2.3 million in November. This is up 2.1% over the previous month and up 9.4% from November 2022’s average list price.

Days on Market

Days on Market Scottsdale homes November 2023

The Days on Market (often referred to as DOM) gives you a sense of the sales pace in a given market. It the DOM is higher, then the market is moving more slowly. If the DOM is a low number, sales are happening at a quicker pace.

Scottsdale’s DOM in November was 59 days. This is down slightly from the previous month as well as the same time in 2022.

Average Sales Price for Scottsdale Homes

Average sales price Scottsdale homes November 2023

We saw the average listing price above and now we will explore the average sales price.

In November, the average sales price of homes in Scottsdale was just over $1.4 million. This is 7.6% lower than what homes sold for in October. However, there was a 2.8% increase when you look at it year-over-year.

Number of Homes Sold

Scottsdale completed home sales November 2023

This last section covers actual home sales.

There were 275 single-family home sales in November, and increase of 3.3% over October. And there was a 2.9% increase in homes sold when compared to November 2022.

We hope that you found this video and commentary helpful as you gather more information to make smart informed real estate decisions.

For more Scottsdale real estate information or if you have any questions about the local area, feel free to contact Joyce at (480) 209-7843 or Joyce@LiveBetterinScottsdale.com.

Click to watch other videos on our Live Better in Scottsdale YouTube Channel.

Interested in other stats for our market? Visit our Real Estate Market Update page.

Disclaimer: Data deemed to be accurate, but is not guaranteed.

Down Payment Assistance Programs Can Help Pave the Way to Homeownership

By

If you’re looking to buy a home, your down payment doesn’t have to be a big hurdle. According to the National Association of Realtors (NAR), 38% of first-time homebuyers find saving for a down payment the most challenging step. But the reality is, you probably don’t need to put down as much as you think:

Data from NAR shows the median down payment hasn’t been over 20% since 2005. In fact, the median down payment for all homebuyers today is only 15%. And it’s even lower for first-time homebuyers at 8%. But just because that’s the median, it doesn’t mean you have to put that much down. Some qualified buyers put down even less.

For example, there are loan types, like FHA loans, with down payments as low as 3.5%, as well as options like VA loans and USDA loans with no down payment requirements for qualified applicants. But let’s focus in on another valuable resource that may be able to help with your down payment: down payment assistance programs.

First-Time and Repeat Buyers Are Often Eligible

According to Down Payment Resource, there are thousands of programs available for homebuyers – and 75% of these are down payment assistance programs.

And it’s not just first-time homebuyers that are eligible. That means no matter where you are in your homebuying journey, there could be an option available for you. As Down Payment Resource notes:

“You don’t have to be a first-time buyer. Over 39% of all programs are for repeat homebuyers who have owned a home in the last 3 years.”

The best place to start as you search for more information is with a trusted real estate professional. They’ll be able to share more information about what may be available, including additional programs for specific professions or communities. 

Additional Down Payment Resources That Can Help

Here are a few down payment assistance programs that are helping many of today’s buyers achieve the dream of homeownership:

  • Teacher Next Door is designed to help teachers, first responders, health providers, government employees, active-duty military personnel, and veterans reach their down payment goals.
  • Fannie Mae provides down-payment assistance to eligible first-time homebuyers living in majority-Latino communities.
  • Freddie Mac also has options designed specifically for homebuyers with modest credit scores and limited funds for a down payment.
  • The 3By30 program lays out actionable strategies to add 3 million new Black homeowners by 2030. These programs offer valuable resources for potential buyers, making it easier for them to secure down payments and realize their dream of homeownership.
  • For Native Americans, Down Payment Resource highlights 42 U.S. homebuyer assistance programs across 14 states that ease the path to homeownership by providing support with down payments and other associated costs.

Even if you don’t qualify for these types of programs, there are many other federal, state, and local options available to look into. And a real estate professional can help you find the ones that meet your needs as you explore what’s available. 

Bottom Line

Achieving the dream of having a home may be more within reach than you think, especially when you know where to find the right support. To learn more about your options, let’s connect.

Scottsdale AZ Single Family Home Sales – November 2023

By

– November 2023 Scottsdale Homes for Sale and Home Sales –

November was another quiet month for home sales activity in Scottsdale. Typically, this time of year is quiet and our November numbers were pretty similar to what we saw in December of 2022.

SCOTTSDALE HOME SALES ACTIVITY – NOVEMBER 2023

In this report,we track the following four sales statuses each month:

– Single-family homes for sale – Orange Line – How many homes were for sale at the end of the month.
– Under contract, but accepting backup offers (UCB) – Gray Line – The number of UCB contracts at the end of the month.
– Pending home sales – Yellow Line – How many pending sales there were at the end of the month.*
– Home Sales – Blue Line – How many homes sold each month.

NOVEMBER 2023 RESULTS

Scottsdale home sales November 2023
  • Scottsdale Homes for Sale: Inventory was basically level when compared to October, down one listing.
  • UCB (Under contract, accepting backup offers): UCB contracts fell slightly to 126, which is not surprising for this time of year.
  • Pending Homes Sales in Scottsdale: The number of pending contracts was up slightly in November, which is a positive. However, things tend to slow down in December, so I anticipate this figure to drop again.
  • Scottsdale Home Sales: Home sales had a slight rebound in November, another positive. We will have to see how the UCB/pending contracts progress in order to impact December sales.

In this next section, we look at two more sales metrics:

Scottsdale real estate market November 2023


Percent Change Month Over Month – The first chart shows how things are changing month to month. For example, pending contracts were up 2.8% between October and November.

Sales Price to List Price – Below that is sales price to list price. Here, we look at what homes were listed for and what they sold for on average. In November, in came in at 95.9%, meaning the average discount off of list price was 4.1%.

*Figures for active homes for sale, UCB sales and pending sales are based on the numbers at the end of the month.

Curious about your buying power? Click on the link to learn more.

Search Scottsdale AZ Homes for Sale

Disclaimer: Data and information were pulled from the Arizona Regional MLS (ARMLS) as of 12/1/2023. Information deemed reliable, but not guaranteed. There may be new home inventory in these figures if the developer is using the MLS to market its homes. This post represents the opinion of the author. No warranties express or implied.
Copyright © 2023 Heather Tawes Nelson | Joyce Tawes

Malcare WordPress Security