Scottsdale AZ Real Estate & Lifestyle

Live Better in Scottsdale - eXp Realty

Heather Tawes Nelson

Scottsdale AZ Single Family Home Sales – August 2020

By

– August 2020 Scottsdale Homes for Sale and Home Sales –

This is probably the most interesting year in real estate that I have tracked, and I have been doing this monthly report since 2007.

After about a two month pause in March and April , real estate activity came roaring back. Usually, we see sales fall off in August and continue to fall off for the next few months.

However, low inventory and pent-up demand are keeping sales at high numbers.

SCOTTSDALE HOME SALES ACTIVITY – AUGUST 2020

Each of the following items are tracked monthly:

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

AUGUST 2020 RESULTS

Scottsdale Home Sales August 2020
  • Scottsdale Homes for Sale: It is shocking how low inventory is currently. It was eye-opening when it dropped to under 1,000 and now it has dropped another 5.8% to close out the month at 864.
  • UCB (Under contract, accepting backup offers):  UCB contracts were up at the end of August to 334. This is about 100 contracts more than where we were this time last year.
  • Pending Homes Sales in Scottsdale: The number of pending contracts was also up. Typically, we see pending and UCBs start to trail downward at this time of year.
  • Scottsdale Home Sales:  Home sales were down, but were still at a very strong pace for this time of year. In August of 2019, there were 449 sales.

Below are two more sales statistics we track on a monthly bais.

Scottsdale real estate market August 2020

Percent Change Month Over Month – This top chart compares sales activity to the previous month’s activity. For instance, pending sales were up 6.5% over July.

Sales Price to List Price – The lower chart looks at the sales price of homes compared to what they had been on the market for. In August, this figure was 96.9%. And to look at it another way, buyers saw an average of 3.1% 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.

Search Scottsdale AZ Homes for Sale

Here is a sampling of some of the homes on the market, or click the link above to see all of the homes for sale.

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

Disclaimer: Data and information were pulled from the Arizona Regional MLS (ARMLS) as of 9/1/2020. 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 © 2020 Heather Tawes Nelson | Joyce Tawes

Move-Up vs. Second Home: Which One Is Right For You?

By

Move Up Home or Second Home

More Space or a New Location? 

The pandemic has changed the way many of us live, work, and attend school—and those changes have impacted our priorities when it comes to choosing a home.

According to a recent survey by The Harris Poll, 75% of respondents who have begun working remotely would like to continue doing so—and 66% would consider moving if they no longer had to commute as often. Some of the top reasons were to gain a dedicated office space (31%), a larger home (30%), and more rooms overall (29%).1

And now that virtual school has become a reality for many families, that need for additional space has only intensified. A growing number of buyers are choosing homes further from town as they seek out more room and less congestion. In fact, a recent survey found that nearly 40% of urban dwellers had considered leaving the city because of the COVID-19 outbreak.2

But not everyone is permanently sold on suburban or rural life. Instead, some are choosing to purchase a second home as a co-primary residence or frequent getaway. Without the requirements of a five-day commute, many homeowners feel less tethered to their primary residence and are eager for a change of scenery after spending so much time at home.

If you’re feeling cramped in your current space, you’ve probably considered a move. But what type of home would suit you best: a move-up home or a second home? Let’s explore each option to help you determine which one is right for you.

WHY CHOOSE A MOVE-UP HOME?

A move-up home is typically a larger or nicer home. It’s a great choice for families or individuals who simply need more space, a better location, or want features their current home doesn’t offer—like an in-ground pool, a different floor plan, or a dedicated home office.

Most move-up buyers choose to sell their current home and use the proceeds as a down payment on their next one. If you’re struggling with a lack of functional or outdoor space in your current home, a move-up home can greatly improve your everyday life. And with mortgage rates at their lowest level in history, you may be surprised how much home you can afford to buy without increasing your monthly payment.3,4

To learn more about mortgage rates, contact us for a free copy of our recent report!
“Lowest Mortgage Rates in History: What It Means for Homeowners and Buyers”

One major benefit of choosing a move-up home is that you can typically afford a nicer place if you spend your entire budget on one property.

However, if you’re longing for that vacation vibe, a second home may be a better choice for you.

Wrok Life Balance from Home

WHY CHOOSE A SECOND HOME?

Once reserved for the ultra-wealthy, second homes have become more mainstream. Home sales are surging in many resort and bedroom communities as city dwellers search for a place to escape the crowds and quarantine in comfort.5 And with air travel on hold for many families, some are channeling their vacation budgets into vacation homes that can be utilized throughout the year.

A second home can also be a good option if you’re preparing for retirement. By purchasing your retirement home now, you can lock in a low interest rate, start paying down the mortgage, and begin enjoying the perks of retirement living now. Plus, it’s easier to qualify for a mortgage while you’re employed, although you may be charged a slightly higher interest rate than on a primary home loan.6

One advantage of choosing a second home is that you can offset a portion of the costs—and in some cases turn a profit—by renting it out on a platform like Airbnb or Vrbo. However, be sure to consult with a real estate professional or rental management company to get a realistic sense of the property’s true income potential.

WHICH ONE IS RIGHT FOR ME?

 You may read this and think: I’d really like both a move-up home AND a second home! But if you’re dealing with a limited budget (aren’t we all?), you’ll probably need to make a choice.  These three tactics can help you decide which option is right for you.

1. Determine Your Time and Financial Budget

You may meet the bank’s qualifications to purchase a home, but do you have the time, energy, and financial resources to maintain it? This is an important question to ask yourself, no matter what type of home you choose.

Most buyers realize that a second home will mean double mortgages, utilities, taxes, and insurance. But buyers also need to consider all the extra time and expense that goes into maintaining two properties. Two lawns to mow. Two houses to clean. Two sets of systems and appliances that can malfunction. Second homes aren’t always a vacation. Make sure you’re prepared for the labor and carrying costs that go into maintaining another residence.

Of course, some move-up homes require more work than a second home. For example, if your move-up option is a major fixer-upper, you’ll probably invest more energy and capital than you would on a small vacation condo by the beach. Have an honest discussion about how much time and money you want to spend on your new property. Would a move-up home or a second home be a better fit given your parameters?

2. Rank Your Priorities

 If you’re still undecided, make a wish list of the characteristics you’d like in your new home. Then rank each item from most to least important. This exercise can help you determine your “must-have” features—and which ones you may need to sacrifice or delay. Here’s a sample to help you get started:

   RANK

FEATURE

 

Dedicated home office

 

Extra bedroom

 

Pool

 

Walk to the beach

 

Big backyard

 

Close to friends and family

 

Short commute to the office

 

Investment potential

3. Explore Your Options

Once you’ve determined your parameters and priorities, it’s time to begin your home search.

If you’re still not sure whether a move-up home or a second home is right for you, we can help.

Contact us to schedule a free consultation. We’ll discuss your options and help you assess the pros and cons of each, given your unique circumstances.

We can also send you property listings for both move-up homes and second homes within your budget so you can better envision each scenario. Sometimes, viewing listings of homes that meet your criteria can make the decision clear.

LET’S GET MOVING

Whether you’re ready to make a move or need help weighing your options, we’d love to help. We can determine your current home’s value and show you local properties that fit within your budget. Or, if your heart is set on a second home in another market, we can refer you to an agent in your dream locale. Contact us today to schedule a free, no-obligation consultation!

Sources:

  1. Zillow –
    https://www.zillow.com/research/coronavirus-remote-work-suburbs-27046/
  2. The Harris Poll –
    https://theharrispoll.com/should-you-flee-your-city-almost-40-have-considered-it-during-the-pandemic/
  3. MarketWatch –
    https://www.marketwatch.com/story/mortgage-rates-keeping-falling-so-will-they-finally-drop-to-0-2020-08-13
  4. Toronto Star –
    https://www.thestar.com/business/2020/08/07/you-can-get-a-fixed-rate-as-low-as-184-per-cent-which-is-unbelievable-low-mortgage-rates-driving-up-home-prices.html
  5. Kiplinger –
    https://www.kiplinger.com/real-estate/buying-a-home/601091/timely-reasons-to-buy-a-vacation-home
  6. The Press-Enterprise –
    https://www.pe.com/2018/11/17/5-tips-on-when-should-you-buy-a-retirement-house-hint-before-you-quit-work/

Things To Do In Scottsdale – September 2020

By

– Things to Do in and Around Scottsdale in September – 

Sign in Downtown Scottsdale Arizona

  • Summer Sweat Series at Scottsdale Quarter – September 1st – 13th – This fitness-focused series wraps up in September in the Scottsdale Quater Quad. Bootcamp, barre and yoga are the three options and you will need to pre-register. 
  • Summer Spectacular ArtWalk in Old Town – September 3rd – Enjoy a stroll around Old Town as you visit the participating art galleries. 
  • Labor Day Dreamcation at the Scottsdale Princess – September 4th – 7th– The Scottsdale Princess has an event-packed long weekend ready for you. Fireworks, fishing, drive-in movies, art and special menu offerings await.
  • Sonoran Sippin’ at the Desert Botanical Garden – September 11 & 18 – Enjoy the garden with an adult beverage (or not) on these two evenings as you listen to a live DJ and peruse the Wild Rising exhibition. September 11th is beer night and the 18th’s theme is still TBD. Limited tickets available and they must be purchased in advance.
  • Brian Mc Knight Live Performance – September 18th – Brian Mc Knight’s live performance drive-in concert will take place at Westworld. There are two shows at 7PM and 10PM.
  • Arizona Restaurant Week – September 18th – 27th – It is back! Currently, 77 restaurants are signed up to participate in this great event with more to come. This is a fantastic way to try new places or visit favorites all with great prices. And, it is a great way to support some of our local businesses that have had a challenging 2020.
  • Cruise the Zoo – Weekends throughout September – Although the Phoenix Zoo is closed to foot traffic, they have opened up new lots of new dates where you can tour the zoo from the comfort of your air-conditioned car. Reservations required and dates sell out, so be sure to book in advance. 
  • Desert Ridge’s Live Music and Art – Ongoing – Desert Ridge is bringing back socially-distanced live music performances throughout September. They also have ongoing art and interactive art exhibitions. Later in the month, they will be screening classic movies. See the website for a full list of events.
  • Wonderspaces Arizona – This hard-to-define, fascinating collection of art is open again with new exhibits and social distancing protocols.
  • Enjoy the Outdoors in Arizona – AZ Central pulled together a bucket list of things to do around our wonderful state. Think hikes, scenic drives, fishing holes and more. 
  • Arizona Boardwalk (formerly OdySea) – The Arizona Boardwalk is now open with safety protocols in place. Most of the attractions are open, but you will want to check and see if reservations are required for a specific attraction.
  • Great Wolf Lodge – The Great Wolf Lodge is open. Cool off in one of the many indoor and outdoor pools and enjoy all of the water park activities. 
  • Visit the Musical Instrument Museum – The MIM is back and open. Enjoy learning about music from all over the globe. 
  • Top Golf Scottsdale – Ready to work on your golf game while having fun? Top Golf Scottsdale is open! And when you are ready for a full round, local courses are open.

If you have any other ideas, we would love to hear about them in the comments!

 

Some of Our Favorite Things to Eat in Scottsdale

By

Scottsdale is a fantastic food town. We are home to so many excellent restaurants that feature a variety of flavors and price points. 

We have pulled together a list of some of our favorite things to eat in Scottsdale. This is just a partial list, but here goes…

 

  • The Basil Chicken Sandwich at Zinc Bistro- Zinc Bistro is one of our favorite places for lunch and dinner and there are so many dishes we order over and over again. However, the Basil Chicken Sandwich is my hands-down favorite. The combination of the toasted bread, chicken, basil, mushrooms and brie is fantastic. Everyone I have introduced it to has loved it as well. And while you are at it, get an order of frites. They have a smoked paprika version or you can ramp it up and get truffle and parmesan. 
  • Soft Pretzels and Provolone Fondue at Culinary Dropout – The first time I had these, I was hooked. Out comes a basket of pretzel balls that are the perfect size for dipping into the cheese fondue. 

 

  • Prep’s Breakfast Sammie from Prep and Pastry – Prep and Pastry takes the modest breakfast sandwich to an all new level. It comes with scrambled eggs, cheese, spinach and tomatoes and in-house made bacon. But what makes it so special is their homemade English muffin. It is so light and fresh! The smashed potatoes on the side made it even better!
  • Stetson Chopped Salad – Sadly, the original salad is no longer as Old Town Scottsdale’s Cowboy Ciao is no longer. The rows of Israeli couscous, pepitas, currants, arugula, salmon and more made it iconic. However, this unique and tasty salad lives on in a few other local establishments. The link has a list of where you can find one. 
  • Box Sushi at Pure Sushi – Rather than a traditional sushi roll, this sushi is layered and pressed into a box. When it is sliced, you can see the layers of fresh tuna, salmon, crab salad and rice. It is so good!

Box Sushi Pure Sushi Scottsdale AZ

These are just a small number of things we love to eat in Scottsdale. Feel free to add yours in the comments!

Scottsdale AZ Luxury Home Market – July 2020

By

– Scottsdale Luxury Home Market Performance for July 2020 –

According to Tina Tamboer, the Senior Housing Analyst for the Cromford Report, a comprehensive and highly-respected local real estate data company, the luxury market had the strongest July on record. Sales were truly impressive and demand continues to be strong.

In this report, we are looking at the sales activity for homes with list prices in excess of $1 million. We have broken the information into four price bands to show more detail.

Here is what we track on a monthly basis:
Active – The number of homes on the market at the end of the month.
UCB (Under Contract Accepting Backup Offers) – The number of homes that were under contract, but still accepting backup offers at the end of the month.
Pending – The number of homes in pending status at the end of the month.
Sold – How many homes sold.

– JULY 2020 –

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

– Active Scottsdale Homes on the Market: The number of homes for sale dropped over 23% due to huge sales activity and less inventory coming onto the market.
– UCB Scottsdale Home Sales: The number of UCB’s fell to 54, but this is still well ahead of the 12 month average.
– Pending Scottsdale Home Sales: Pending sales jumped to the highest level we have seen in the past year.
– Scottsdale Homes Sold: Home sales were unprecedented at 79. The next closest we have come to this number was 64, and that was in June 2018.
– Sales Price to Listed Price: 96.2% – On average buyers saw a discount off of list price of 3.8%.

Scottsdale homes for sale between $1 and $1.5 million July 2020

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

– Active Scottsdale Homes on the Market: The number of homes on the market fell slightly to come in at 138.
– UCB Scottsdale Home Sales: UCB contracts fell quite sharply to seventeen. However, the thirty-two UCBs in June was an anomaly.
– Pending Scottsdale Home Sales: Pending sales were up to 26, a 24.5% increase.
– Scottsdale Homes Sold: The thirty-six sales in this price point is the highest I have seen since I started tracking these figures in 2007.
– Sales Price to Listed Price: 95.6% – On average, buyers saw a discount off of list price of 4.4%.

Scottsdale homes for sale between $1.5 and $2 million July 2020

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

– Active Scottsdale Homes on the Market: Inventory was down slightly at the end of the month to 136.
– UCB Scottsdale Home Sales: UCBs were level to the prior month.
– Pending Scottsdale Home Sales: Pending sales were also level to the prior month.
– Scottsdale Homes Sold: Twenty-four homes sold in this price range in July. This is the highest sales volume I have seen since I started tracking in 2007.
– Sales Price to Listed Price: 92.5% – On average, buyers saw a discount off of list price of 7.5%.

Scottsdale homes for sale between $2 and $3 million July 2020

Scottsdale Homes Priced $3,000,000+

– Active Scottsdale Homes on the Market: Inventory was down almost 20% between the end of June and July/
– UCB Scottsdale Home Sales: UCB contracts remained level compared to June.
– Pending Scottsdale Home Sales: Pendings were actually up by one to fifteen. This is almost double the twelve month average.
– Scottsdale Homes Sold:  Twelve homes priced at over $3 million closed in July. This is impressive and well ahead of the twelve month average.
– Sales Price to Listed Price: 94.1% – On average, buyers saw a discount off of list price of 5.9%.

Scottsdale homes for sale over $3 million July 2020

If you would like additional detail 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

Disclaimer: Information deemed reliable but not guaranteed. Data and information were pulled from the Arizona Regional MLS (ARMLS) as of 8/1/2020 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 ©2020 Heather Tawes Nelson | Joyce Tawes

Phoenix and Scottsdale AZ Luxury Condo Sales – July 2020

By

– Luxury Condo Sales in Scottsdale and Phoenix – July 2020 –

The luxury condo market in Scottsdale and Phoenix had a solid July. Sales were on par with June.

Below, we will cover the sales activity of luxury condos. All of these homes were on the market for at least $1 million.

ACTIVE LISTINGS AT THE END OF JULY

Inventory dropped again by the end of the month. July closed out with sixty-seven condos for sale, compared to seventy at the end of June and seventy-seven at the end of May. Forty-nine of the sixty-seven luxury condos were in Scottsdale.

  • The highest-priced luxury condo for sale was in Phoenix’s Two Biltmore Estates. This home has 4,817 square feet and was on the market for $3,300,000.
  • The two lowest priced luxury condos at $1,049,000 are the same as last month. The first was in Scottsdale. It was a three bedroom, two bathroom unit with 1,758 square feet in Optima Kierland. The other was in Phoenix’s Portland Place. It was a three bedroom, two and one-half bathroom unit with 2,755 square feet.

UCB* LUXURY CONDO SALES IN SCOTTSDALE AND PHOENIX

One condo was in UCB status at the end of the month. It was a home at Two Biltmore Estates. This unit had three bedrooms, three and one-half bathrooms and 3,000 square feet. It was on the market for $1,875,000.

*UCB status means a condo has an accepted contract, but that the seller has requested that they accept backup offers. Most times you will see this status when the contract is in the inspection/due diligence period.

PENDING LUXURY CONDO SALES IN SCOTTSDALE AND PHOENIX

Eight luxury condos were in pending status at the end of July and the majority of them were located in Scottsdale.

Scottsdale Pending Luxury Condos

  • Optima Kierland is currently being built out, so all of these units have been in pending status for a while.
    • Two bedrooms and two bathrooms with 1,665 square feet. It was listed for $1,390,000.
    • Two bedrooms and two and one-half bathrooms with 1,956 square feet. It was listed for $1,750,000.
    • Three bedrooms and bathrooms with 2,704 square feet. It was on the market for $1,816,000.
    • Three bedrooms and bathrooms with 2,018 square feet. It was on the market for $1,939,000.
    • Three bedrooms and bathrooms with 2,704 square feet. It was listed for $2,080,000.
  • ICON Silverleaf – Three bedrooms, two bathrooms with 2,094 square feet. It was on the market for $1,295,000.
  • Optima Camelview – Three bedrooms, three and one-half bathrooms with 3,173 square feet. It was on the market for $1,680,000.

Phoenix Pending Luxury Condos

Fairway Lodge at the Biltmore – Three bedrooms and two and one-half bathrooms with 2,376 square feet. It was listed for $1,042,000.

LUXURY CONDO SALES IN SCOTTSDALE AND PHOENIX

There were four luxury condo sales during the month of July.

  • ICON Silverleaf – Three bedrooms, three and one-half bathrooms with 3,170 square feet. It was on the market for $1,560,000. It ultimately sold for $1,400,000.
  • ICON Silverleaf – Three bedrooms, three and one-half bathrooms with 3,166 square feet. It was on the market for $1,720,000 and sold for $1,612,000.
  • Plaza Lofts at Kierland Commons – Two bedrooms, two bathrooms with 1,636 square feet. It had been listed for $1,195,000 and sold for $1,175,000.
  • Envy Residences in Old Town Scottsdale. It was a penthouse with two bedrooms, two and one-half bathrooms and 1,763 square feet. It was on the market for $1,199,000 and sold for $1,105,000.

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 8/1/2020 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 ©2020 Heather Tawes Nelson | Joyce Tawes

Our Top Scottsdale Ice Cream Picks

By

Due to COVID-19, some of the places below are temporarily closed, have takeout only or have limited operating hours. Please be sure to check in advance. 

Since Scottsdale has been breaking all kinds of hot weather temperature records, we thought it would be a good time to pull together a list of our favorite ice cream, gelato and frozen yogurt places around town. 

Scottsdale Ice Cream pexels-lukas-1352251

North Scottsdale Treats

  • Cherry on Top Frozen Yogurt – Located in The Summit shopping center, Cherry on Top is a self-service frozen yogurt shop where you can pick your flavors and your toppings. 
  • That’s Amore Gelato – This gem is located at Pinnacle Peak and Miller and it has been serving up dozens of fresh gelato flavors for years. (My personal favorite is the stracciatella.) They also have a selection of pastries and the coffee there is excellent. 

Central Scottsdale Treats

  • Golden Spoon Frozen Yogurt– Golden Spoon, located in the Promenade is an oldie, but goodie. Prepared for you, you can pick from a variety of flavors and toppings. 
  • Shake Shack – The Shake Shack at Kierland Commons has several offerings to cool you down. You can opt for a handmade classic shake, a S’mores shake as well as frozen custards. (There is a second Shake Shack location in Scottsdale Fashion Square.)
  • Menchie’s Frozen Yogurt – There are two locations to choose from in Central Scottsdale. The first is in Scottsdale Quarter and the other is in the Scottsdale Towne Center at Frank Lloyd Wright an the 101. Menchie’s is a self-serve set up with about 10 different flavors and dozens of toppings to choose from. 

Old Town Scottsdale Treats

  • Sugar Bowl – We would be remiss if we did not put this Old Town Scottsdale institution on the list. In business since 1958, the Sugar Bowl has been serving up ice cream delicacies to generations of families. 
  • Zuzu at the Hotel Valley Ho – Zuzu’s pastry chef, Clarissa Robinson, creates a new featured “showstopper” shake each month and they are impressive. They are over the top and, even better, each monthly shake’s sales donates to a specific charity! They also have “short stopper” shakes each month as well.  
  • Fatty Daddy’s Gelato and Sorbet – This playful shop not only serves traditional gelatos and sorbets, but also has some fun flavors like Captain Crunch and Fruity Pebble. They also serve Boba teas.

Scottsdale gelato pexels-lukas-1352296

Do you have a favorite ice cream, gelato or frozen yogurt place in Scottsdale that is not on the list? Feel free to add it to the comments!

Quick Video Update of the Scottsdale Real Estate Market – July 2020

By

– July 2020 Scottsdale Housing Market Video –

July was another powerhouse month for home sales in Scottsdale due to pent up demand and record low interest rates. 

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

July 2020 – Video

 

Scottsdale Active Listings

Scottsdale homes for Sale July 2020

The inventory of homes for sale dropped under 1,000, which is unheard of. This is a 59% decrease from where we were at the end of July last year. 

This small number of homes available will hold sales activity back. This especially applies to lower-priced homes. There is so much demand for them, most have several offers on the first day. 

Median List Price for Scottsdale Homes

Scottsdale homes median list price July 2020

The median list price represents the midpoint of all home prices, so one half of the homes are priced higher and the other half is priced lower. 

July’s median list price was $1.25 million. This is way up from July 2019’s $875K and is up a little bit over June 2020’s $1.12M. 

Days on Market

Scottsdale homes Days on Market July 2020

Days on Market is a quick way to gauge the health of a real estate market. High Days on Market (DOM) means things are taking longer to sell. Conversely, a low DOM means things are selling at a faster pace.

July’s DOM was 83 days. This is a 12% decrease from July 2019’s 94 days, showing you the current demand in the market.

Median Sales Price for Scottsdale Homes

Scottsdale homes median sale price July 2020

We looked at the median list price above and now we will look at the median sales price. 

Scottsdale’s median sales price for  July was $695,000. 

This was up over July 2019’s $601K and June 2020’s $635K. 

Number of Homes Sold

This final section looks at the number of homes sold compared to last year as well as last month.

Scottsdale homes sold July 2019 versus 2020

This top image is looking at year-over-year sales. Sales were up an impressive 22% in July compared to last July. 

Scottsdale home sales July 2020 vs June 2020

And looking at month-over-month, sales were up by 11%. This was a great month. 

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.

Malcare WordPress Security