Scottsdale AZ Real Estate & Lifestyle

Live Better in Scottsdale - eXp Realty

Heather Tawes Nelson

Scottsdale Luxury Home Market – April 2009

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April was a very good month for Scottsdale single-family home sales. The bulk of the activity is occurring at the lower end of the price spectrum, but we a re also seeing some promising signs in the luxury home market as well. This analysis looks at single-family resale homes in Scottsdale priced $1,000,000 and above over the last twelve months.

– APRIL 2009 –
 
Homes Priced Between $1,000,000 – $1,499,999
– Actives: There were 497 homes for sale in this price range. This is the first time this number has dipped under 500 in the last year. The 12 month average for this is 549.
– Pendings: At the end of April, there were 30 homes pending, a 7.1% increase over March’s 28. The 12 month average for pendings is 26, so this is positive.
– Sold: April was a great month for home sales in this price point. There were 24 sales, double what we saw in March. The last time we saw sales volume like this was July of 2008. The 12 month average is 17.
– Sales Price to Listed Price: 88.4%

 Homes Priced Between $1,500,000 – $1,999,999
– Actives: There were 303 active homes. This number has been hovering around 300 for the last several months and the 12 month average is 290.
– Pendings: Sixteen homes were pending at the end of April, twice as many as in March. The last time there were this many homes pending was June of 2008. The 12 average is 10.
– Sold: Only 4 homes sold in April, which was disappointing. On average, there are 7 sales per month in this price range.
– Sales Price to Listed Price: 89.9% This is about where it has been over the last 12 months

Homes Priced Between $2,000,000 – $2,999,999
– Actives: There were 336 homes for sale in this price segment, down from 350 in March. This is below the 12 month average of 349.
– Pendings: Eight homes were pending, which is just ahead of the 12 month average of 7 and a 60% increase over March’s five pending homes.
– Sold: Only five homes sold in April which ended a three month run of increasing sales. On average, six homes in this price point sell per month.
– Sales Price to Listed Price: 88.8%. This is back to a more normal level. March had a very low 77.3%.

Homes Priced $3,000,000+
– Actives: There were 231 homes for sale. This figure has been steadily decreasing month-over-month since November of 2008. The 12 month average is 276.
– Pendings: Five homes were pending at the end of April. This is the first time this number has gone down since January. The 12 month average is 6.
– Sold: Five homes sold in April, ahead of the average of 4. However, it was down slightly from March’s six sales.
– Sales Price to Listed Price: 84.7%. This is a little lower than is usual, but is an improvement over March’s 83.3%.

As you can see, some of the price segments preformed better in April than others. We are seeing a lot of declines in inventory levels and pending sales are looking good for the most part. Sales were somewhat varied.

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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 homes in Scottsdale over the last 12 months. Any references to ‘average’ figures implies the average of the  last 12 months of data. 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 – April 2009

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April 2009 was a great month for Scottsdale single family real estate. Active homes for sale are dropping, pending sales were way up and sales were very strong.

Scottsdale home sales April 2009

April 2009 Findings
Active Homes for Sale: The number of homes on the market dropped almost 7% from March to 3,661. This is the fewest number of homes on the market we have seen in the last year and it is well below the 12 month average of 3,913.
Pending Home Sales: Pending sales jumped to the highest level seen in the last 12 months to 487. This figure has been increasing dramatically month-over-month since January of this year. The 12 month average for pending sales is 314.
Homes Sold: There were 301 home sales in April, a 24.4% increase over March. The last time this figure surpassed 300 was June of 2008. This figure has been growing month-over-month for the last three months.

Overall, April was a great month for Scottsdale single family homes. We have seen some momentum building over the last several months and with such high pending sales, May looks to be very promising.

 

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 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

 

Scottsdale Home Sales in Zip Code 85262 – 1st Quarter 2009

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Here are the sales activity figures for the Scottsdale’s 85262 zip code over the first three months of the year.

This far-North Scottsdale zip code houses some of the top luxury communities like:

The following analysis looks at single-family resale home sales and has been broken down into three categories – Non-Distressed Sales, Short Sales (Pre-Foreclosure) and Lender-Owned Sales.

Zip Code 85262- Scottsdale Single-Family Resale Performance – Q1 2009
Property Type Active Listings  % of Total Pending Sales % of Total Homes Sold % of Total
Non-Distressed 710 80% 16 33% 33 45%
Short Sales 106 12% 15 31% 14 19%
Lender-Owned 67 8% 18 37% 27 36%
TOTAL 883 100% 49 100% 74 100%
 
Property Type Avg. Sold Price Avg. Sq Feet (Sold) Avg. Price per Sq. Ft. (Sold) Days on Market (Sold) List Price to Sales Price
Non-Distressed $1,667,744 4,669 $309.35 232 85%
Short Sales $477,786 3,878 $123.10 268 94%
Lender-Owned $467,497 3,277 $139.23 164 92%
TOTAL $1,012,630 4,015 $213.02 214 87%
* Cumulative days on market.

In this zip code, 80% of the homes for sale were non-distressed with the balance belonging to short sales and lender-owned properties. However, only 33% of the sales in Q1 were non-distrssed homes. Short sales made up 31% and lender-owned were 37%. The distressed property sales had a much larger impact in 85262 (68%) than they did in 85255 (52%) or Scottsdale in general (52%).

The sales price discrepancy between non-distressed and distressed was the most marked in 85262. The average non-distressed sales price was over $1.6 million where distressed average prices were in $400,000’s.

 

Disclaimer:
Data and information were pulled from the Arizona Regional MLS (ARMLS) on 4/1/2009 and can change at any time. Some numbers may not add up to 100% due to rounding. Copyright © 2009 Heather Tawes Nelson

Scottsdale Home Sales in Zip Code 85255 – 1st Quarter 2009

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Here are the sales activity figures for the Scottsdale’s 85255 zip code over the first three months of the year.

This North Scottsdale zip code houses some of the top luxury communities like:

This analysis looks at single-family resale home sales and has been broken down into three categories – Non-Distressed Sales, Short Sales (Pre-Foreclosure) and Lender-Owned Sales.

Zip Code – 85255 – Scottsdale Single-Family Resale Performance – Q1 2009
Property Type Active Listings  % of Total Pending Sales % of Total Homes Sold % of Total
Non-Distressed 786 86% 39 48% 96 62%
Short Sales 90 10% 20 24% 19 12%
Lender-Owned 43 5% 23 28% 40 26%
TOTAL 919 100% 82 100% 155 100%
   
Property Type Avg. Sold Price Avg. Sq Feet (Sold) Avg. Price per Sq. Ft. (Sold) Cumulative Days on Market (Sold) List Price to Sales Price  
Non-Distressed $925,981 3,307 $246.48 195 88%  
Short Sales $671,223 3,246 $193.56 214 95%  
Lender-Owned $534,581 3,062 $169.53 186 94%  
TOTAL $796,465 3,240 $220.66 193 90%  

The majority of homes for sale in this zip code fall into the non-distressed category, with 86% of the market. The non-distressed properties also account for almost half of the pending sales and 62% of the homes sold. (Comparatively, non-distressed sales in all of Scottsdale only accounted for 49% of home sales in the first quarter of 2009.)

Short sales and Lender-Owned homes for sale were about 15% of the market at the end of the quarter. However, they encompassed 52% of pending sales and 38% of homes sold.

In my next post, I will look at the same analysis for another one of North Scottsdale’s key zip codes 85262.

 

Disclaimer:
Data and information were pulled from the Arizona Regional MLS (ARMLS) on 4/1/2009 and can change at any time. Some numbers may not add up to 100% due to rounding. This blog represents the opinion of the author. No warranties implied or expressed.
Copyright © 2009 Heather Tawes Nelson

Scottsdale Home Sales – First Quarter 2009

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Here are the figures for Scottsdale’s sales activity for the first three months of the year.

This analysis looks at single-family resale home sales and has been broken down into three categories – Non-Distressed Sales, Short Sales (Pre-Foreclosure) and Lender Owned Sales.

Q1 2009 Scottsdale home sales

 

As you can see, the bulk of the homes for sale, 81%, fall into the non-distressed category. However short sales and lender-owned homes make up just over half of the pending sales and sales. You can also see that the prices for short sale and lender-owned properties are significantly lower than the non-distressed properties. Another item of note is that there is a larger discrepancy between list price and sale price for non-distressed homes (89% of asking price) than the distressed sale homes (94% of asking price.)

In future posts, I will look at the same analysis for two of North Scottsdale’s main zip codes, 85255 and 85262.

 

Disclaimer:
Information herein deemed reliable but not guaranteed. Data and information were pulled from the Arizona Regional MLS (ARMLS) on 4/1/2009 and can change at any time.
Copyright © 2009 Heather Tawes Nelson

Greater Phoenix Luxury Condo Market – March 2009

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At the end of March, there were 103 condos for sale throughout the valley. Fifty-nine were in Scottsdale, thirty-three were in Phoenix, and the remainder, eleven, were in Tempe. During the month of March, two luxury condos sold. Both of them were located in Esplanade Place.

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

Valleywide – March 2009*  
For Sale: 103
Pending: 0
Sold: 2
Average Sale Price: $1,355,000
Average Price/Sq. Ft. Sold: $417.37
   
Scottsdale – March 2009*  
For Sale: 59
Pending: 0
Sold: 0
Average Asking Price: $1,745,229
Average Asking Price/Sq. Ft. $707.54
Communities: N/A
   
   
Phoenix – March 2009*  
For Sale: 33
Pending: 0
Sold: 2
Average Sale Price: $1,355,000
Average Price/Sq. Ft. Sold: $417.37
Communities: Esplanade Place
   
   
Tempe- March 2009*  
For Sale: 11
Pending: 0
Sold: 0
Average Asking Price: $1,160,000
Average Asking Price/Sq. Ft. $692.61
Community:  N/A

 

Disclaimer: Information herein deemed reliable but not guaranteed. 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 – March 2009

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Here are the March figures for the Scottsdale luxury home market. This analysis looks at single-family resale homes in Scottsdale priced $1,000,000 and above over the last twelve months. This was a very strong month for Scottsdale in general, but there were a couple of mixed results in some of the luxury price points.

– MARCH 2009 –
 
Homes Priced Between $1,000,000 – $1,499,999
– Actives: There were 548 homes for sale at this price point, down from 569 in February. This number is now lower than the 12 month average of 560.
– Pendings: At the end of March, there were 28 pending sales – a 47% increase over February. We have not seen a pending number this high since August and September of 2008.
– Sold: Twelve homes sold in March. This was down from February’s 15, or a 20% decline. The 12 month average for sales in this price range is 17.
– Sales Price to Listed Price: 89.4% – This is the second month this number has been in the 80%’s. Typically, it is in the low 90%’s.

 Homes Priced Between $1,500,000 – $1,999,999
– Actives: Active homes for sale crept up last month to 302. The last time this figure was in the 300’s was November of 2008. The 12 month average is 291.
– Pendings: There were 8 sales pending at the end of March. This is just behind the average of 9.
– Sold: Homes sales in this price segment were very string in March at 9, particularly when contrasted with February’s 3 sales. The 12 month average is 7.
– Sales Price to Listed Price: 90.8% – This is down slightly from the 92.3% seen in February, but more or less on par with where it has been tracking for the last year.

Homes Priced Between $2,000,000 – $2,999,999
– Actives: There were 350 homes for sale in this price range. This is just under the 12 month average is 352.
– Pendings: Pendings fell to 5 in March as compared to February’s 7. The average is 7 pending sales.
– Sold: There were 9 home sales in March – a 50% jump over February. We have not seen a sales figure this high since August 2008, when there were 8 sales. The average for this price range is 6.
– Sales Price to Listed Price: 77.3% – This was almost a 10% decrease over the prior month. This figure jumps around quite a bit from the high 70%’s to the low 90%’s.

Homes Priced $3,000,000+
– Actives: This figure has been dropping every month since November of 2008. Currently, there are 252 homes on the market, with the 12 month average being 284.
– Pendings: There are 7 pending sales of homes over $3,000,000. This figure has been holding at 7 for three months now, slightly ahead of the average of 6.
– Sold: Six homes sold in this price point in March. This is a great improvement over January and February where there were only 2 and 3 sales respectively. The 12 month average is 5 home sales.
– Sales Price to Listed Price: 83.3% – There is a lot of volatility in this ratio. It swings anywhere from the high 70%’s to the low 90%’s.

March was a really strong month for the Scottsdale AZ real estate market. For the most part the news is great, inventory is down and sales and pending sales are up. And, because pending activity is doing well, this should translate into strong sales numbers for the months to come.

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 4/1/2009 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

New Developments at Scottsdale’s Optima Camelview

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Optima Camelview ScottsdaleOptima Camelview, located in Scottsdale, Arizona, is a wonderful community that attracts people from all over the world. In a previous post, I talked about its cutting edge design and the wonderful amenities. As of the last couple of months, Optima Camelview has gotten even better with the addition of a few on-site vendors to serve the residents as well as the local community.

Posh, an upscale eatery, recently opened. It features “improvisational cuisine” in which diners provide the chef with information on foods they like to eat and the chef creates a customized tasting menu for them. The menus range from a 4 course selection up to a “Say Stop” selection of over 7 courses. Each of the menus can be accompanied with wine pairings as well. The menu and offerings change daily based on what is fresh and in season. Posh also hosts events including cooking classes and winemaker’s dinners. Parking is available onsite or you can valet. As a bonus to Optima Camelview residents, Posh offers dinner via “room service” Tuesdays through Saturdays.

Another new addition to Optima Camelview is Arizona’s first eco-friendly salon. It is called Green With Envy and it was designed by a LEED-certified architect. It uses only organic products and all of the design elements were selected based on being the most environmentally-friendly. It is a sleek, bright, welcoming salon and is a great addition to the community. (UPDATE: Green with Envy is now closed.)

Additionally, residents now also enjoy the convenience of an on-site dry cleaner.

Optima Camelview Sales: Click to see Optima Camelview’s 2008 sales activity for resale units.

 

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