Scottsdale AZ Real Estate & Lifestyle

Live Better in Scottsdale - eXp Realty

Heather Tawes Nelson

Greater Phoenix Luxury Condo Market – June 2009

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Here are June’s results for the Greater Phoenix luxury condo market, which includes Scottsdale, Phoenix and Tempe. I am defining the luxury condo market as those condos with list prices in excess of $1 million.

At the end of June, there were 68 condos for sale throughout the valley. Thirty-nine were in Scottsdale, twenty-eight were in Phoenix, and the last one was located in Tempe. The active number of luxury units for sale has been decreasing over the last several months. However, the decrease is not all sale-related. I would venture to guess that much of the decrease can be attributed to asking prices being lowered to under $1M, units being taken off the market and possible foreclosure activity. There were no sales during the month of June.

Here is a quick overview of June 2009’s numbers:

Valleywide – June 2009*         
For Sale:           68
Pending:           0
Sold:                0
Average Asking Price:    $1,760,851
Average Asking Price/Sq. Ft.:    $630.50

Scottsdale – June 2009*
For Sale:           39
Pending:           0
Sold:                 0
Average Asking Price:    $1,799,885
Average Asking Price/Sq. Ft.     $686.49

Phoenix – June 2009*
For Sale:           28
Pending:           0
Sold:                 0
Average Asking Price:    $1,730,086
Average Asking Price/Sq. Ft.:    $557.25

Tempe- June 2009*
For Sale:           1
Pending:           0
Sold:                 0
Average Asking Price:    $1,100,000
Average Asking Price/Sq. Ft.     $497.51

 

Disclaimer: Information herein deemed reliable but not guaranteed. Data and information was pulled from the Arizona Regional MLS (ARMLS) as of 7/1/2009 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 Luxury Home Market – June 2009

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Here are the June results for the Scottsdale AZ luxury home market. This analysis looks at single-family resale homes in Scottsdale with list prices of $1,000,000 and above over the last twelve months.

– June 2009 –
 
Homes Priced Between $1,000,000 – $1,499,999
– Actives: There were 396 homes on the market in this price segment. Over the last twelve months, the average has been 519. And, in the 22 months, I have been tracking these figures, this is the first time is has gotten into the 300’s. In March of 2008, there were 637 homes for sale in this price point.
– Pendings: There were 24 pending home sales at the end of June. While this was lower than May’s 44, this figure is still ahead of the 12 month average of 26.
– Sold: There were 29 sales in June, the highest this figure has been in the last 22 months. The 12 month average is 17.
– Sales Price to Listed Price: 88.8%. This figure typically falls in the high 80%’s to low 90%’s.

 Homes Priced Between $1,500,000 – $1,999,999
– Actives: At the end of June, there were 246 homes for sale in this price point. This number is down 13.7% from May and is lower than the 12 month average of 285.
– Pendings: There were 15 pending sales, down one from May. However, this is still well ahead of the 12 month average of 10.
– Sold: Eight homes sold in June, ahead of the 12 month average of 7, but lower than May’s 11.
– Sales Price to Listed Price: 88.5%. This is pretty typical for this price segment.

Homes Priced Between $2,000,000 – $2,999,999
– Actives:  254 homes were for sale in this price point. The last time this figure was this low was in September of 2007. The 12 month average is 338.
– Pendings: There were 12 pending sales, double the 12 month average of 6. The last time pending sales were this high was June 2008.
– Sold: There were 5 sales in June, on par with the 12 month average.
– Sales Price to Listed Price: 85.4%. This figure has ranged anywhere from 77.3% to 91.7% in the last 12 months. Generally, it falls into the high 80%’s.

Homes Priced $3,000,000+
– Actives: There were 178 homes for sale for over $3 million. This is the first time this number has dipped into the 100’s in the 22 months I have been tracking. The 12 month average is 256.
– Pendings: Five homes were pending at the end of June. This is just behind the 12 month average of 6.
– Sold: Only two homes sold in June, only half of the 12 month average of four.
– Sales Price to Listed Price: 90.7%. This figure has been in the lower 80%’s since March, so it is nice to see it rebound into the 90%’s.

Most of the price segments performed pretty well in June, with the exception of the $3 million and above segment.  The drop in active listings, strong pending sales figures and increase in sales are promising indicators for the Scottsdale luxury home market.

 

Disclaimer:
Information herein deemed reliable but not guaranteed. Data and information was pulled from the Arizona Regional MLS (ARMLS) as of 7/1/2009 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.
Copyright © 2009 Heather Tawes Nelson

Scottsdale Single Family Home Sales – June 2009

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June was the strongest month so far this year for single-family resale homes in Scottsdale, Arizona. Homes for sale inventory dropped again, this time to under 3,000, when we were at over 4,000 in February this year. Pending sales were very high again and actual sales were phenomenal. The bulk of the activity is occurring in the lower price points, but we are also seeing decent activity in the luxury home segment as well.

Scottsdale Home Sales June 2009

 

 

June 2009 Findings
Active Homes for Sale: The number of homes for sale dropped to 2,907, a 9.8% decrease over May. In February, this figure was 4,007. The twelve month average for this figure is 3,756.
Pending Home Sales: There were 574 homes pending at the end of June, a 2.1% increase over May. This is significantly higher than the 12 month average of 350.
Homes Sold: There were 429 home sales in June. This is the first time this figure has broken 400 since I started tracking this information in September of 2007.

Overall, June was a great month for Scottsdale AZ single family home sales, continuing the trends we have been seeing since January of this year. Based on the large number of pending sales, July’s sales figures should continue to be strong.

 

Disclaimer: Data and information was pulled from the Arizona Regional MLS (ARMLS) as of 7/1/2009 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

Greater Phoenix Luxury Condo Market – May 2009

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Here are May’s results for the Phoenix area luxury condo market. I define luxury condos as those with list prices in excess of $1 million.

At the end of May, there were 69 luxury condos for sale throughout the valley. Forty-three condos were located in Scottsdale, twenty-four were in Phoenix, and two were located in Tempe. Only one luxury condo sold in May. It was a penthouse unit at Esplanade Place in the Biltmore area of Phoenix. The three bedroom, three bathroom, 3,350 square foot unit sold for $1,725,000. There was also one pending sale at the Scottsdale Waterfront for a three bedroom, three and-one-half bathroom, 2,975 square foot unit.

Here is a quick overview of May 2009’s numbers:

Valleywide – May 2009*  
For Sale: 69
Pending: 1
Sold: 1
Average Sale Price: $1,725,000
Average Price/Sq. Ft. Sold: $514.93
   
Scottsdale – May 2009*  
For Sale: 43
Pending: 1
Sold: 0
Average Asking Price: $1,808,035
Average Asking Price/Sq. Ft. $683.79
Communities: N/A
   
   
Phoenix – May 2009*  
For Sale: 24
Pending: 0
Sold: 1
Average Sale Price: $1,725,000
Average Price/Sq. Ft. Sold: $514.93
Communities: Esplanade Place
   
   
Tempe- May 2009*  
For Sale: 2
Pending: 0
Sold: 0
Average Asking Price: $1,595,000
Average Asking Price/Sq. Ft. $605.77
Communities:  N/A

 

 

Disclaimer: Data and information was pulled from the Arizona Regional MLS (ARMLS) as of 4/1/2009 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 Luxury Home Market – May 2009

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Here are the May figures for the Scottsdale luxury home market. This analysis looks at the last 12 months of activity for single-family resale homes in Scottsdale with list prices of $1,000,000 and above.

– Scottsdale Single-Family Homes: May 2009 –

Homes Priced Between $1,000,000 – $1,499,999
– Actives: Continuing the downward trend we have been seeing over the last four months, actives fell 13.7% over April to 429. This is well below the 12 month average of 534.
– Pendings: Pending sales jumped to 44, a 46.7% increase over April. The 12 month average for this price segment is 26.
– Sold: Twenty homes sold in May. This was down from the 24 sales in April, but still ahead of the 12 month average of 17.
– Sales Price to Listed Price: 91.0% This number is back up into the 90%’s for the first time since January.

 Homes Priced Between $1,500,000 – $1,999,999
– Actives: This number decreased to 285 after two months of being in excess of 300 homes for sale. This is the first time we have dropped under the 12 month average of 28 since December of 2008.
– Pendings: There were 16 homes pending sale at the end of the month, the same as April. This is well ahead of the 12 month average of 10 pending sales.
– Sold: There were 11 home sales in this price segment in May, the highest it has been in the last year and well ahead of the average of 7.
– Sales Price to Listed Price: 80.9% This is a very low ratio meaning there were significant price discounts on some of the homes that sold. Typically, this number is in the high-80%’s or low 90%’s

Homes Priced Between $2,000,000 – $2,999,999
– Actives: This price segment had 317 active homes for sale at the end of the month. This is the lowest it has been in 12 months and has been steadily decreasing since January. The 12 month average is 345.
– Pendings: There were 8 pending sales, the same as April. This is ahead of the 12 month average of 6.
– Sold: Six homes sold in May, up one over April. The average is five.
– Sales Price to Listed Price: 87.4%

Homes Priced $3,000,000+
– Actives: 203 homes were for sale in this price segment at the end of May. This number has been steadily decreasing since November of 2008. The 12 month average is 266.
– Pendings: There were five pending homes, the same as April. This is slightly behind the 12 month average of 6.
– Sold: There were four home sales, which is the same as the average, but lower than March and April.
– Sales Price to Listed Price: 83.2%  This number is about where it has been over the last three months, suggesting large discounts on some of these Scottsdale luxury homes.

The results for May are almost universally positive. The number of active homes for sale continues to decline. Pending sales are up or holding steady and sales activity is strong. Based on the number of pending homes in the $1,000,000 – $1,499,999 segment at the end of May, I anticipate a very strong June for this price segment.

 

 

Disclaimer:
Information herein deemed reliable but not guaranteed. Data and information was pulled from the Arizona Regional MLS (ARMLS) as of 6/1/2009 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.
Copyright © 2009 Heather Tawes Nelson

 

Scottsdale Single Family Home Sales – May 2009

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May 2009 was another very positive month for the Scottsdale AZ real estate market. Building on the last several months of great performance, sales of single-family homes were up, pendings are at the highest level I have seen and inventory continues to drop off.

Scottsdale AZ Home Sales May 2009

 

May 2009 Findings

  • Active Homes for Sale: This figure dropped to 3,224, an 11.9% decrease over April. This figure is well below the 12 month average of 3,843 and is the lowest I have seen in 21 months of tracking this data.
  • Homes Pending Sale: There were 562 pending home sales at the end of May. This number is significantly higher than the 12 month average of 330 and was up another 15.4% over April.
  • Home Sales: Home sales jumped again in May to 348, a 15.6% increase over April. This is the fifth month in a row we have seen increases in this figure. The majority of this growth in home sales is in the lower price points and/or sales of distressed properties – i.e. short sales or lender-owned homes.

There seems to be a lot of momentum going in the Scottsdale single-family market right now and based on the pending figures, June will be another strong month.

 

Disclaimer: Data and information was pulled from the Arizona Regional MLS (ARMLS) as of 6/1/2009 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

Greater Phoenix Luxury Condo Market – April 2009

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Here are the most recent figures for the Greater Phoenix luxury condo market, which is defined as condos with list prices in excess of $1 million.

At the end of April, 90 luxury condos were on the market for sale. Of those, fifty-five were in Scottsdale, thirty-three were in Phoenix, and the remainder, two, were in Tempe. Activity was slow for this market segment in April. Only one unit was pending sale at the end of the month. It was a three bedroom, three bathroom, 3,350 square foot penthouse unit at Esplanade Place in Phoenix.

Here is a quick overview of April 2009’s numbers:

Valleywide – April 2009*  
For Sale: 90
Pending: 1
Sold: 0
Average Asking Price: $1,778,288
Average List Price/Sq. Ft.: $662.28
   
Scottsdale – April 2009*  
For Sale: 55
Pending: 0
Sold: 0
Average Asking Price: $1,826,245
Average List Price/Sq. Ft. $728.18
Communities: N/A
   
   
Phoenix – April 2009*  
For Sale: 33
Pending: 1
Sold: 0
Average Asking Price: $1,666,891
Average List Price/Sq. Ft.: $542.43
Communities: Esplanade Place
   
   
Tempe- April 2009*  
For Sale: 2
Pending: 0
Sold: 0
Average Asking Price: $2,297,500
Average List Price/Sq. Ft. $827.66
Communities: N/A

 

Disclaimer: Data and information was pulled from the Arizona Regional MLS (ARMLS) as of 5/1/2009 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

Things to Do in Phoenix: Desert Botanical Garden

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Chihuly at Desert Botanical Garden PhoenixIf you have not had the opportunity to visit the Desert Botanical Garden, I highly recommend going soon. There are currently two wonderful exhibits in place until the May 31, 2009.

Chihuly: The Nature of Glass Exhibit – Dale Chihuly is a phenomenally talented artist who works with glass as his medium. His glass sculptures are beautiful, elegant and whimsical all at the same time. The installation at the Desert Botanical Garden is beautifully integrated into the exhibits, providing bright punches of color throughout. You do need to make reservations to see the exhibit so please visit the Desert Botanical Garden’s website at www.dbg.org.

The second exhibit is a wonderful, interactive one featuring butterflies. It is the Spring Butterfly Exhibit and you get to walk through an enclosed pavilion with hundreds of butterflies fluttering by. If you have children, they have “Butterfly Bingo” charts that they get to bring in to help identify all of the different species.

Chihuly Phoenix Botanical GardenAnother fun set of events is the Jazz in the Garden Concert Series. On Friday nights through June 26th, there will be performances by various jazz artists. There is more information on the performers and the concert series on the website.

Even if you are unable to visit while these exhibits and events are taking place, the Desert Botanical Garden is still worth a visit. It is amazing to see the diversity of plant life found in the Sonoran Desert and there are plenty of educational opportunities throughout the compound.

Information:
Desert Botanical Garden at Papago Park
1201 N. Galvin Parkway, Phoenix, AZ 85008
480-941-1225
www.dbg.org

 

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