Scottsdale AZ Real Estate & Lifestyle

Live Better in Scottsdale - eXp Realty

Heather Tawes Nelson

Scottsdale AZ Luxury Home Market – November 2009

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Below is a look at November’s sales activity for the Scottsdale AZ luxury home market. This analysis looks at the sales activity for single-family resale homes in Scottsdale priced at $1,000,000 and above over the last 12 months.

– November 2009 –
Homes Priced Between $1,000,000 – $1,499,999
– Actives: There were 358 homes in the market at the end of November in this price range. There was 8% drop in the number of homes on the market from October’s 389. The 12 month average is 449.
– Pendings: Pending sales were down in November to 24, compared to October’s 27. The twelve month average for this is 27, so we are tracking slightly behind.
– Sold: Twenty homes sold in November, down from the high of 29 we saw in June and September of this year. This figure is slightly ahead of the 12 month average of 19.
– Sales Price to Listed Price: 91.7% – This is pretty standard for this price range.


Homes Priced Between $1,500,000 – $1,999,999
– Actives: At the end of November, there were 242 homes for sale in this price point. This number has been steadily increasing since September when we saw a low of 212. The 12 month average is 265.
– Pendings: Eighteen homes were pending sale. This is the second highest this figure has been over the last 12 months. The 12 month average for this price range is 13.
– Sold: Eight homes sold in November, which is down from September’s 10 and October’s 12. However, this figure is tracking the same as the 12 month average of 8.
– Sales Price to Listed Price: 92.8% – After spending many months in the 80%’s, this ratio has been in the 90%’s for the last two months.


Homes Priced Between $2,000,000 – $2,999,999
– Actives: 247 homes were for sale in this price range at the end of the month. This number has been increasing since August, when there were 222 homes on the market. The 12 month average is 292.
– Pendings:  There were eight pending sales in November, the highest this figure has been since June, when there were 12. This is slightly ahead of the 12 month average of 7.
– Sold: Four homes were sold last month. This is just behind the 12 month average of 5.
– Sales Price to Listed Price: 88.3% – This is pretty typical for this price range where buyers are averaging over 10% off the asking price.


Homes Priced $3,000,000+
– Actives: There were 155 active homes on the market in excess of $3 million. This figure dipped slightly over October’s 157. The 12 month average is 206.
– Pendings: Only one home was pending sale at the end of the month, well below the 12 month average of 4.
– Sold: Two homes sold in November, which is below the 12 month average of 3. And, based on the pending figure of 1, I anticipate December’s sales to be poor.
– Sales Price to Listed Price: 77.3% – This figure is all over the place. In August, it was 64.7% and in June it was 90.7%. Because so few homes sell monthly in this price range, this ratio will experience more volatility.

November, overall, was a disappointing month for luxury home sales in Scottsdale AZ. In most cases, inventory was up (albeit slightly) and pending sales and sales were down.  And based on pending sales activity, December looks to be another lackluster month.

 

Disclaimer: Information herein deemed reliable but not guaranteed. Data and information was pulled from the Arizona Regional MLS (ARMLS) as of 12/1/2009 & 12/2/2009 and can change at any time. The analysis looks at single-family resale homes in Scottsdale 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 implied or expressed.
Copyright © 2009 Heather Tawes Nelson

Greater Phoenix AZ Luxury Condo Market Performance – November 2009

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Here are the figures for the Luxury Condo Market in Scottsdale, Phoenix and Tempe, Arizona for the month of November 2009. The luxury condo market is defined as condos for sale with list prices in excess of $1 million.

Inventory has been increasing over the last few months. In September, there were 65 units for sale valleywide and in October, there were 68. By the end of November, there were 73 units on the market priced in excess of $1 million. Scottsdale had the highest number of units on the market with 37, followed closely by Phoenix with 30 and then Tempe, with 6.

November was a positive month for luxury condos. At the end of the month two units had sold and two units were pending. The two sales were in luxury developments in Scottsdale. One of them was a two bedroom, two bathroom, 2,566 square foot unit at The Landmark near Kierland for $1 million even. The second sale was at Optima Camelview and it was a brand new, three bedroom, two bathroom, 3,217 square foot penthouse for $1,610,000.

The pending sales were split between Scottsdale and Phoenix. One of the units is located at the Scottsdale Waterfront. It is a three bedroom, three and one-half bathroom, 2,500 square foot unit listed for $1,399,000. The other pending sale is at Esplanade Place in Phoenix and is a two bedroom, three bathroom, 3,000 square foot unit listed for $1,695,000.

Scottsdale Phoenix Luxury Condo Sales November 2009

Click to learn more about the various luxury condo communities in the greater Phoenix valley.Again, November was a good month for the luxury condo market in Scottsdale, Phoenix and Tempe. Ideally, the two pending sales will close escrow in December, allowing a strong ending to the year.

Disclaimer: Information herein deemed reliable but not guaranteed. Data and information was pulled from the Arizona Regional MLS (ARMLS) as of 12/1/2009 and can change at any time. The analysis looks at single-family resale condos in Scottsdale, Tempe and Phoenix 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.
Copyright © 2009 Heather Tawes Nelson

Scottsdale AZ Single-Family Home Sales – November 2009

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Here are November’s figures for the Scottsdale AZ real estate market. This monthly analysis looks at the resale market in Scottsdale for single-family homes.

November was not the strongest month for Scottsdale real estate. We did see inventory decrease slightly, which is good, but pending sales and actual home sales continued to drop off. On a positive note though, all of the figures are tracking at a better rate than the 12 month average.

 

SCOTTSDALE AZ HOME SALE ACTIVITY – NOVEMBER 2009

Scottsdale AZ Home Sales November 09

 

November 2009 Findings
Active Homes for Sale: The number of homes on the market decreased slightly to 2,910, down from October’s 2,917. This is the first time we have seen this number go down month over month since August. The 12 month average is 3,306.
Pending Home Sales: Pending sales dropped below the 500 range for the first time since April of this year. At the end of November, there were 483 pending home sales.  The high in pending sales came in June when there were 574. The 12 month average for pending sales is 442.
Homes Sold: The number of homes sold in November was down slightly to 345, off 6 from September and October’s 351 sales respectively. The 12 month average for home sales is 308.
Sales Price to List Price: 94.0% – This is the highest this figure has been in the last twelve months, meaning homes in Scottsdale were selling for an average of 6% off of the asking price.

Overall, November was a lackluster month for Scottsdale AZ real estate. Sales dropped off slightly, but the drop in pending sales is disappointing and will definitely have an impact on December’s figures. The one positive is that the number of homes for sale did decrease slightly.

 

 

Disclaimer: Data and information was pulled from the Arizona Regional MLS (ARMLS) as of 12/1/2009 & 12/2/2009 and can change at any time. The analysis looks at single-family 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.
Copyright © 2009 Heather Tawes Nelson

Homeward Bound – A Wonderful Phoenix AZ Non-Profit

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As the holidays approach, it is a great time to reflect upon what we are grateful for. I also make sure to take some time to consider how I can give back. One local non-profit that I support is Homeward Bound. Located in Phoenix AZ, Homeward Bound’s mantra is “A hand up, not a handout.” Homeward Bound’s mission is to assist families who are homeless, victims of domestic abuse or fall into the working poor category get back on track and prepare them for future successes.

One of the main facets of Homeward Bound’s initiative is a 12 to 24 month intensive program that teaches job skills as well as life skills. It also comes with housing, food, medical care, clothing, counseling, childcare and more. That way, families taking advantage of the program can both work as well as focus on improving themselves and their prospects of a successful future without having to worry about where the next meal is coming from or if they can afford the next rent payment. At the end of the program, these families are now prepared to move on to bigger and better things for themselves and their children.

Homeward Bound takes donations of all kinds and is eligible for the Arizona Charitable Tax Credit Program for the Working Poor (ARS43-1088). That means any financial donation of up to $200 for individuals and $400 for couples is treated as an Arizona state tax credit, versus a tax deduction.* Donations as low as $50 can provide food, clothing and emergency needs for a child for one week.*

If you are looking for a worthy, local non-profit to support, I suggest visiting Homeward Bound’s website (https://www.homewardboundaz.org/) to see if it is a fit for you.

Homeward Bound
Transforming Attitudes, Lives and Families
2302 West Colter Street
Phoenix, AZ 85015
602-374-8721
https://www.homewardboundaz.org/
* Disclaimer: This is not professional tax advice. Please consult with your tax advisor on any tax-related issues regarding charitable donations.

Scottsdale AZ Golf Community Sales Update – Through October 2009

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Here is an overview of the sales activity for 2009 for the Scottsdale AZ Golf Communities. This list is not exhaustive, but it covers many of the major golf communities in Scottsdale, Carefree and Cave Creek.

Typically, I look at the communities on an individual basis, but in this case, I wanted to see how the different communities stack up side-by-side. As you can see, there is a wide variance in pricing and sales data depending on the community. These communities represent the top luxury private golf communities and well as some others that have more affordable homes and are built around a public or semi-public golf course.

Golf membership varies by community. Some communities require membership as a prerequisite of property ownership. For others, membership is optional or by invitation only. For example, many homes and lots at Desert Mountain with its six Jack Nicklaus courses come with Deferred Equity Golf Memberships included in the price.

The first chart looks at homes on the market in the various communities as of November 1, 2009. The second chart looks at home sales in the communities between January 1, 2009 through October 31, 2009.

LISTING DATA
Community Location  Number of Homes for Sale Average Asking Price Average Asking Price/Sq. Foot Lowest Asking Price Highest Asking Price
Ancala Scottsdale – East 54 $1,821,318 $313.16 $445,900 $7,795,000
The Boulders Scottsdale/Carefree 41 $1,165,146 $330.17 $478,000 $2,995,000
DC Ranch Scottsdale – North 116 $1,175,643 $307.00 $198,900 $5,195,000
Desert Highlands Scottsdale – North 55 $1,819,345 $367.86 $729,900 $4,995,000
Desert Mountain Scottsdale – Far North 216 $2,511,450 $434.74 $495,000 $12,900,000
Dove Valley Ranch Cave Creek 29 $363,643 $150.14 $215,000 $699,000
Estancia Scottsdale – North 22 $3,770,045 $578.00 $1,395,000 $15,000,000
Grayhawk Scottsdale – North 77 $930,901 $257.75 $243,900 $2,950,000
Legend Trail Scottsdale – Far North 36 $614,325 $223.34 $305,000 $1,050,000
Mirabel Club Scottsdale – Far North 35 $1,993,371 $386.28 $450,000 $5,750,000
Rancho Manana Cave Creek 9 $837,667 $244.06 $400,000 $1,750,000
Silverleaf Scottsdale – North 59 $3,854,576 $562.27 $975,000 $10,500,000
Terravita Scottsdale – North 46 $568,935 $247.45 $274,900 $1,075,000
Troon North Scottsdale – North 76 $1,107,308 $267.87 $335,000 $3,950,000
Troon Village Scottsdale – North 59 $1,434,939 $305.76 $398,000 $6,850,000
Whisper Rock Scottsdale – North 20 $2,735,400 $462.34 $1,599,000 $4,250,000

 

SOLD DATA        
Community Location  Number of Homes Sold 2009 Average Sales Price 2009 Average Price/Sq. Foot Sold 2009
Ancala Scottsdale – East 24 $1,062,000 $228.30
The Boulders Scottsdale/Carefree 18 $907,306 $232.18
DC Ranch Scottsdale – North 120 $602,477 $213.60
Desert Highlands Scottsdale – North 14 $1,579,929 $324.31
Desert Mountain Scottsdale – Far North 51 $1,809,569 $327.17
Dove Valley Ranch Cave Creek 70 $289,524 $125.00
Estancia Scottsdale – North 9 $1,850,000 $348.71
Grayhawk Scottsdale – North 91 $638,125 $210.48
Legend Trail Scottsdale – Far North 23 $437,779 $206.26
Mirabel Scottsdale – Far North 6 $1,745,000 $321.37
Rancho Manana Cave Creek 2 $627,500 $171.00
Silverleaf Scottsdale – North 19 $2,578,453 $406.73
Terravita Scottsdale – North 50 $495,269 $213.24
Troon North Scottsdale – North 50 $801,316 $210.85
Troon Village Scottsdale – North 60 $900,983 $214.41
Whisper Rock Scottsdale – North 6 $1,905,833 $312.75

To see where these communities are located on a map or to see homes for sale in any of them, please visit my Interactive Map of Scottsdale AZ Golf Communities.

 

Disclaimer: Information herein deemed reliable but not guaranteed. Data was pulled from the Arizona Regional MLS (ARMLS) as of 11/1/09 can change at any time. This blog represents the opinion of the author. No warranties implied or expressed.
Copyright © 2009 Heather Tawes Nelson

Where to Eat in Scottsdale AZ – Harvest Restaurant

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Updated: Harvest is no longer open. The space is now home to Soul Cafe. 

 

Located on the corner of Miller Road and Pinnacle Peak in Scottsdale AZ, Harvest restaurant is a welcome newcomer to the neighborhood. Since it just opened, it is offering breakfast and lunch for a few weeks prior to launching dinner service. Excited for a new place to eat, we took the opportunity to try it out.

Harvest is a casual dining restaurant that will appeal to anyone. The focus is on fresh, delicious American food. The interior has a lot of wood and orange accents and even has a wood “sculpture” above the counter area. Indoor dining has booths and tables and there is a large patio area that overlooks Pinnacle Peak Road. Service was great. The staff was very friendly and attentive from the hostesses to our server.

Breakfast is served all day and the menu is extensive- omelets, pancakes, waffles, lox platters, and egg dishes are just some of the offerings. They even offer gluten-free pancakes and toast. If you want some fruit with your pancakes or waffles, and additional $2 will get you a large serving of strawberries, bananas and blueberries. The silver dollar pancakes were cooked perfectly and the serving was very big. The breakfast potatoes with potato rounds and onions were also tasty.

The lunch menu also has plenty to choose from. Choices include multiple types of burgers, chicken sandwiches, salads, wraps and other sandwiches. The turkey reuben was very good and not greasy as they can sometimes be. The sweet potato fries are definitely a good choice and the regular fries are hand cut.

Our first trip to Harvest was a good one and it was definitely worth the wait during its construction. I am sure in a few months it will have cemented its spot as a neighborhood staple.

UPDATE: Dinner service is slated to start on December 1, 2009.
Corner of Pinnacle Peak Rd. & Miller Rd.
7615 E Pinnacle Peak Rd., Ste B-1
Scottsdale, AZ 85255

 

Greater Phoenix Luxury Condo Market Performance – October 2009

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October was a decent month for the Greater Phoenix luxury condo market. I define the luxury condo market as condos for sale with asking prices in excess of $1 million. While activity continues to be somewhat slow in this segment, there was one sale and one pending sale in October.

At the end of the month, there were 68 luxury condos for sale in the Greater Phoenix area. The majority of these units are in Scottsdale, with 33, and Phoenix, with 29. The remaining 6 are located in Tempe.

October’s sale was a penthouse unit at the Scottsdale Waterfront Residences for $2.7 million. This penthouse with panoramic views has four bedrooms, for and one-half bathrooms and is 4,847 square feet. The pending sale is located in Optima Camelview Village and it is a penthouse unit with three bedrooms, two bathrooms and 3,217 square feet.

Luxury Condo Market – October 2009
  All Luxury Condos      Scottsdale Phoenix  Tempe
Luxury Condo Sales
– Number of Units for Sale 68 33 29 6
– Average Asking Price $1,707,300 $1,704,436 $1,750,014 $1,516,600
– Average Asking Price Per Sq. Ft. $609.06 $689.50 $547.36 $464.79
– Average Days on Market*- Active 252 240 295 113
– Number of Units Pending 1 1 0 0
– Average Sales Price $2,700,000 $2,700,000 N/A N/A
– Sales Price to List Price 81% 81% N/A N/A
– Average Sold Sq. Feet 4,847 4,847 N/A N/A
– Average Sales Price per Sq. Ft. $557.05 $557.05 N/A N/A
– Average Days on Market* – Sold 377 377 N/A N/A
– Highest Sale Price $2,700,000 $2,700,000 N/A N/A
– Lowest Sale Price $2,700,000 $2,700,000 N/A N/A
– Percentage of Total Sales 100% 100% 0% 0%
* Cumulative Days on Market

To learn more about the luxury condo market in Scottsdale or Greater Phoenix, please feel free to contact us.

Disclaimer: Information herein deemed reliable but not guaranteed. Data was pulled from the Arizona Regional MLS (ARMLS) as of 11/1/09 can change at any time. This blog represents the opinion of the author. No warranties implied or expressed.
Copyright © 2009 Heather Tawes Nelson

Scottsdale AZ Luxury Home Market –October 2009

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Here are October’s figures for the Scottsdale AZ luxury home market. This market analysis includes the last twelve months of activity for single-family resale homes in Scottsdale with list prices of $1,000,000 and above.

– October 2009 –  
Homes Priced Between $1,000,000 – $1,499,999
– Actives: There were 389 homes for sale in this price point, up 5 over September This number has been increasing for the last two months from its 12 month low of 366. The 12 month average is 465 homes on the market.
– Pendings: There were 27 homes pending at the end of the month, which is on par with the 12 month average of 27 pending sales.
– Sold: There were 21 home sales in October, down from 29 in October, but ahead of the 12 month average of 18 sales.
– Sales Price to Listed Price: 89.6% -This is pretty standard for this price range.

 Homes Priced Between $1,500,000 – $1,999,999
– Actives: 234 homes were for sale in this price point at the end of October. This represents a 10.4% increase over September. The 12 month average is 270 active homes.
– Pendings: Pending sales came in at 14, just one ahead of the 12 month average of 13 pending sales.
– Sold: Twelve homes in this price range sold in October. This was the second highest sales month over the last 12 months, with the average being 8 sales.
– Sales Price to Listed Price: 92.7% – This is the highest this figure has been in the last 12 months. It typically tracks in the mid to high-80%’s.

Homes Priced Between $2,000,000 – $2,999,999
– Actives: There were 241 active homes for sale. This figure has been increasing over the last two months. The lowest we saw was in August with 222 homes for sale. The 12 month average is 303 actives.
– Pendings: There were seven homes pending sale at the end of the month. This is the same as September and is on par with the 12 month average of seven pending sales.
– Sold: There were five home sales in October. This figure has been increasing for the last two months and is the same as the 12 month average of 5.
– Sales Price to Listed Price: 92.2% – This is the highest this figure has been in the last twelve months. The last time this was in the 90%’s was in January of this year. Typically, this number is in the mid to high-80%’s.

Homes Priced $3,000,000+
– Actives: 157 homes were for sale for over $3 million. As with other price points, we have seen inventory increase over the last two months. The low in August was 149. The 12 month average is 217.
– Pendings: There were only two pending sales in this price point. This is well behind the average of 5.
– Sold: Three homes sold in October, which was a nice turnaround from September, when there were no sales of homes in excess of $3 million. The 12 month average is 4 sales, so this month was slightly behind.
– Sales Price to Listed Price: 82.4% – This is pretty typical for this price point.

October was a lackluster month for the luxury home market in Scottsdale. The number of home for sales is up in all price ranges, although not dramatically. However, we need to see some of this inventory being absorbed versus being added to. Sales and pending sales were mixed, although we did see some strong sales in a few of the price bands. Looking at the pending numbers, November may be a challenging month as well.

To see the detailed data behind this report, please visit my Scottsdale luxury real estate market reports page and click on the “Scottsdale Market Trends” report.

Disclaimer:
Information herein deemed reliable but not guaranteed. Data and information was pulled from the Arizona Regional MLS (ARMLS) as of 11/1/2009 and can change at any time. The analysis looks at single-family resale homes in Scottsdale 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 implied or expressed.
Copyright © 2009 Heather Tawes Nelson

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