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Scottsdale AZ Single Family Home Sales – February 2024

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– February 2024 Scottsdale Homes for Sale and Home Sales –

The Scottsdale real estate market is in full swing as evidenced by the increase in contract and sales activity.

SCOTTSDALE HOME SALES ACTIVITY –  FEBRUARY 2024

We track the following sales metrics on a monthly basis:

– Single-family homes for sale – Orange Line – The number of homes showing active 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 there were at the end of the month.*
– Home Sales – Blue Line – The number of homes sold each month.

FEBRUARY 2024 RESULTS

Scottsdale homes for sale February 2024
  • Scottsdale Homes for Sale: This might be the most inventory we have seen since the beginning of 2020! This is great news for buyers who have been dealing with fewer homes on the market.
  • UCB (Under contract, accepting backup offers): February closed out with the second-highest number of UCB contracts we have seen in the past year.
  • Pending Homes Sales in Scottsdale: Pendings were also up in February. The last time we saw them this high was around last May and June.
  • Scottsdale Home Sales: Home sales were also up, crossing into the 300’s for the first time since last August. Depending on what happens with interest rates, we hope to see sales increase over the next couple of months.

Here, we will examine two more sales metrics that we track monthly:

Scottsdale real estate market February 2024


Percent Change Month Over Month – In the top chart, we look at how things changed relative to the prior month. For example, the number of UBC contracts was up 20.8% when compared with January.

Sales Price to List Price – In the bottom chart, we are looking at what price homes sold for on average compared to their average listing price. The sales price to list price in February was 97.7%, which means buyers saw an average discount of 2.3% off of list price.

*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 All Scottsdale AZ Homes for Sale

Here are some homes in Scottsdale currently for sale:

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Disclaimer: Data and information were pulled from the Arizona Regional MLS (ARMLS) as of 3/1/2024. 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 – March 2024

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– Scottsdale Events March 2024 –

March has rolled around again and that means another month of fun and exciting events. 

  • Barbie®: A Cultural Icon at the Phoenix Art Museum– Through July 7th – Over 60 years of Barbie® history and lore will be on display as well as 250 vintage Barbies from over the years, including the original doll. 
  • Arizona Renaissance Festival– Weekends through March 31st– Huzzah! Cheer on jousters, watch artisans create, feast on turkey legs and much more. This event is fun for all ages and new performers and entertainment have been added for 2024.
  • 66th Annual Heard Museum Guild Indian Fair & Market – March 2nd- 3rd – Come experience the beautiful artwork of over 600 Native North American artists. Shop beautiful artwork and take in cultural performances and demonstrations. 
  • Scottsdale Parada Del Sol Rodeo – March 7th – 10th – The Parada del Sol rodeo returns to WestWorld and is celebrating 71 years! Each day will be action-packed with bull-riding, barrel racing, roping, clowns and more!
  • Chandler Ostrich Festival – TWO WEEKENDS March 8th – 10th  and March 15th – 17th – The Ostrich festival is back and better than ever. There are tons of rides, attractions, great food and some amazing musical acts.  This year’s performers include Wynonna Judd and Yung Gravy.
  • Good Guys Spring Nationals – March 15th – 17th – WestWorld will be packed with over 2,500 hot rods and classic cars. There will be a dragster exhibition, food, a kids’ zone and activities plus much more!
  • Cave Creek Sculpture & Wine Festival – March 15th – 17th – Last year was a success and now this festival will return for a second time. Located at Stagecoach Village, sculptures of all sizes and mediums from juried artists will be on display. Want to sip and shop? Wine, spirits and beer will be available as well as food. Live performances will add to the fun atmosphere. 
  • Toto – March 17th – Even though they started in the 1970’s, Toto is still going strong! Go see Africa and their other hits performed live at the Talking Stick Resort. 
  • Cave Creek Rodeo Days – March 21st – 24th – It is back! There will be amazing and exciting bull riding, rodeo events, mutton bustin’ and more. And don’t forget the parade! 
  • Fund The Farm Celebration at the Desert Botanical Garden – March 22nd – Enjoy an amazing evening eating and drinking and enjoying live performances.  Proceeds will go toward Spaces of Opportunity, a non-profit that promotes community gardens and incubator farms locally. This is a 21+ event.
  • Carefree Fine Art & Wine Festival – March 22nd- 24th – Downtown Carefree will come alive with beautiful art later in the month. Over 165 artists will be present and will be showcasing their impressive work. And if you would love a little wine as you shop, simply purchase a glass and enjoy.
  • Spring Training – Through March 26th – Spring Training wraps at the end of the month!  Make sure to catch your favorite teams playing in ten locations around the Valley before they head out on their regular seasons.
  • Honor and Thank Vietnam Vets – March 29th – This important event will be taking place at the Scottsdale Civic Center East Bowl starting at 11:30. Registered attendees will receive a complimentary lunch. There will be a speaker from the Veterans Heritage Project as well as classic vehicles from the era. Come to meet veterans, hear their stories and say thank you.

Scottsdale AZ Luxury Home Market – January 2024

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– Scottsdale Luxury Home Market Performance for January 2024 –

And we’re off! With the new year comes a flurry of sales activity in Scottsdale and the Phoenix Valley. Listings and contract activity were up, but actual home sales were mixed coming off the holiday season when many people took a break from real estate.

This report covers the luxury home market in Scottsdale. To be included, the home must have had a list price of $1 million or more. We have broken this information into four price ranges to get a better sense of performance by price level.

– JANUARY 2024 –

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

Scottsdale home sales between 1 and 1.5 million January 2024

– Active Scottsdale Homes on the Market: After dropping off at the end of December, inventory rebounded to a level similar to November.
– UCB Scottsdale Home Sales: UCB contracts saw a 57.9% jump in January and should continue to be strong for the next couple of months.
– Pending Scottsdale Home Sales: Pending sales also saw a very healthy jump of 30% in January. We have not seen this figure in the 40s since last summer.
– Scottsdale Homes Sold: Sales were also up. There were forty-eight sales, which is still low, but sales will increase in the coming months.
– Sales Price to Listed Price: 96.0%- On average, buyers saw a discount of 4% off of list price.

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

Scottsdale home sales between 1.5 and 2 million January 2024

– Active Scottsdale Homes on the Market: The number of listings at the end of the month was the highest we have seen in the past year.
– UCB Scottsdale Home Sales: The number of UCB’s almost doubled when compared to December. This is also the highest we have seen UCBs in the past year.
– Pending Scottsdale Home Sales: Pending sales were also up over December, a 40.9% difference.
– Scottsdale Homes Sold: The number of homes sold decreased to thirty-one. As I explained above, January typically sees slower home sales due to the holidays.
– Sales Price to Listed Price: 97.8% – On average, buyers saw a discount of 2.2% off of list price.

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

Scottsdale home sales between 2 and 3 million January 2024

– Active Scottsdale Homes on the Market: Inventory hit the 200 level for the first time since March 2018!
– UCB Scottsdale Home Sales: The number of UCBs was up 42.9% in January.
– Pending Scottsdale Home Sales: Pendings had a very strong month as well, coming in at thirty-six.
– Scottsdale Homes Sold: The number of home sales was more or less level in January.
– Sales Price to Listed Price: 96.3% – On average, buyers saw a discount of 3.7% off of list price.

Scottsdale Homes Priced $3,000,000+

Scottsdale home sales over 3 million January 2024

– Active Scottsdale Homes on the Market: Inventory was up 19.6% in January and at 217, posted the highest number of homes for sale in this price point ever.
– UCB Scottsdale Home Sales: The number of UCBs was up in January and was on par with the 12 month average.
– Pending Scottsdale Home Sales: Pending contracts were level with December’s result.
– Scottsdale Homes Sold: Sales were down to twenty-one in January. Again, this is to be expected due to seasonality.
– Sales Price to Listed Price: 95.7% – On average, buyers saw a discount of 4.3% 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:

916 Listings
11124 E Del Timbre Drive, Scottsdale, AZ 85259

$2,795,000 11124 E Del Timbre Drive
Scottsdale, AZ 85259 11124 E Del Timbre Drive
Scottsdale, AZ 85259Listing office: HomeSmart

11615 E Terra Drive, Scottsdale, AZ 85259

$1,300,000 11615 E Terra Drive
Scottsdale, AZ 85259 11615 E Terra Drive
Scottsdale, AZ 85259Listing office: HomeSmart

28729 N 107TH Street, Scottsdale, AZ 85262

$1,790,000 28729 N 107TH Street
Scottsdale, AZ 85262 28729 N 107TH Street
Scottsdale, AZ 85262Listing office: HomeSmart

8130 E VISTA BONITA Drive, Scottsdale, AZ 85255

$3,200,000 8130 E VISTA BONITA Drive
Scottsdale, AZ 85255 8130 E VISTA BONITA Drive
Scottsdale, AZ 85255Listing office: DeLex Realty

11999 N 80th Place, Scottsdale, AZ 85260

$1,595,000 11999 N 80th Place
Scottsdale, AZ 85260 11999 N 80th Place
Scottsdale, AZ 85260Listing office: Realty ONE Group

33521 N 75TH Way, Scottsdale, AZ 85266

$2,295,000 33521 N 75TH Way
Scottsdale, AZ 85266 33521 N 75TH Way
Scottsdale, AZ 85266Listing office: Realty Executives

5.4 pristine acres of natural desert and rock cropping

$6,500,000 11225 E Whispering Ridge Way
Scottsdale, AZ 85255 11225 E Whispering Ridge Way
Scottsdale, AZ 85255Listing office: Russ Lyon Sotheby's International Realty

9411 E CALLE DE LAS BRISAS, Scottsdale, AZ 85255

$1,825,000 9411 E CALLE DE LAS BRISAS
Scottsdale, AZ 85255 9411 E CALLE DE LAS BRISAS
Scottsdale, AZ 85255Listing office: Viza Realty, LLC

7661 E SOLANO Drive, Scottsdale, AZ 85250

$2,895,000 7661 E SOLANO Drive
Scottsdale, AZ 85250 7661 E SOLANO Drive
Scottsdale, AZ 85250Listing office: Epique Realty

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 2/1/2024 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 ©2024 Heather Tawes Nelson | Joyce Tawes

Some Experts Say Mortgage Rates May Fall Below 6% Later This Year

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There’s a lot of confusion in the market about what’s happening with day-to-day movement in mortgage rates right now, but here’s what you really need to know: compared to the near 8% peak last fall, mortgage rates have trended down overall.

And if you’re looking to buy or sell a home, this is a big deal. While they’re going to continue to bounce around a bit based on various economic drivers (like inflation and reactions to the consumer price index, or CPI), don’t let the short-term volatility distract you. The experts agree the overarching downward trend should continue this year.

While we won’t see the record-low rates homebuyers got during the pandemic, some experts think we should see rates dip below 6% later this year. As Dean Baker, Senior Economist, Center for Economic Research, says:

“They will almost certainly not fall to pandemic lows, although we may soon see rates under 6.0 percent, which would be low by pre-Great Recession standards.”

And Baker isn’t the only one saying this is a possibility. The latest Fannie Mae projections also indicate we may see a rate below 6% by the end of this year (see the green box in the chart below):

a screenshot of a graph

The chart shows mortgage rate projections for 2024 from Fannie Mae. It includes the one that came out in December, and compares it to the updated 2024 forecast they released just one month later. And if you look closely, you’ll notice the projections are on the way down.

It’s normal for experts to re-forecast as they watch current market trends and the broader economy, but what this shows is experts are feeling confident rates should continue to decline, if inflation cools.

What This Means for You

But remember, no one can say for sure what will happen (and by when) – and short-term volatility is to be expected. So, don’t let small fluctuations scare you. Focus on the bigger picture.

If you’ve found a home you love in today’s market – especially where finding a home that meets your budget and your needs can be a challenge – it’s probably not a good idea to try to time the market and wait until rates drop below 6%.

With rates already lower than they were last fall, you have an opportunity in front of you right now. That’s because even a small quarter point dip in rates gives your purchasing power a boost.

Bottom Line

If you wanted to move last year but were holding off hoping rates would fall, now may be the time to act. Let’s connect to get the ball rolling.

Phoenix and Scottsdale AZ Luxury Condo Sales – January 2024

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Luxury Condo Sales in Scottsdale and Phoenix – January 2024

The luxury condo market roared back to life in January. Coming off of the holiday season, we saw lots of new listings and increased sales activity.

To be included in this report, all of the condos need to have been priced at $1 million or more. 

ACTIVE LISTINGS AT THE END OF JANUARY

We closed out December with 59 units for sale and ended January with 72 units for sale. Typically, we see these jumps located in Scottsdale, but this month, we saw a huge uptick in luxury condos for sale in Phoenix

Remaining in place as the highest-priced condo for sale for several months is a unit at ICON in Silverleaf. It has five bedrooms, five and one-half bathrooms and an expansive 5,534 square feet. The asking price was $6,900,000.

The lowest-priced condo for sale was located in The Reserve. It has two bedrooms, two and one-half bathrooms and 2,179 square feet. It was on the market for $1,010,000.

UCB* LUXURY CONDO SALES IN SCOTTSDALE AND PHOENIX

December ended with four homes in UCB status. In contrast, January closed out with eleven homes in UCB status.

UCB Condos in Scottsdale

  • Optima Camelview
    • Two bedrooms and bathrooms, 1,628 square feet. Asking price was $1,050,000.
    • Three bedrooms, three and one-half bathrooms, 3,223 square feet. Asking price was $3,295,000.
  • Portico Condominiums – Three bedrooms and bathrooms, 2,396 square feet. Asking price was $1,664,000.
  • ICON at Silverleaf – Two bedrooms, two and one-half bathrooms, 2,757 square feet. Asking price was $2,275,000.
  • Optima Kierland – Three bedrooms and bathrooms, 2,232 square feet. Asking price was $3,200,000.

UCB Condos in Phoenix

  • Esplanade Place – Two bedrooms and bathrooms, 2,417 square feet. Asking price was $1,189,000.
  • Toscana at Desert Ridge
    • Two bedrooms, two and one-half bathrooms, 1,780 square feet. Asking price was $1,280,049.
    • Three bedrooms, two and one-half bathrooms, 2,177 square feet. Asking price was $1,405,827.
    • Two bedrooms, two and one-half bathrooms, 2,025 square feet. Asking price was $1,556,951.
  • Fairway Lodge
    • Three bedrooms, two and one-half bathrooms, 2,042 square feet. Asking price was $1,295,000.
    • Three bedrooms, two and one-half bathrooms, 2,748 square feet. Asking price was $1,550,000.

PENDING LUXURY CONDO SALES IN SCOTTSDALE AND PHOENIX

I was wrong in my prediction that we would be at 100 or above pending sales at the end of December. We actually ended with 96. However, at the end of January, we went way past that and ended the month with 112 pending sales.

Pendings are up to the highest level we have seen due to several new communities being built out.

Scottsdale Pending Luxury Condos

  • The Reserve – Two bedrooms, two and one-half bathrooms, 2,020 square feet. Asking price was $1,129,000.
  • Retreat at Seven Desert Mountain – Three bedrooms, three and one-half bathrooms, 2,489 square feet. Asking price was $1,984,900.
  • Optima Camelview
    • Two bedrooms and bathrooms, 1,781 square feet. Asking price was $1,590,000.
    • Three bedrooms, two and one-half bathrooms, 2,615 square feet. Asking price was $2,395,000.
  • Optima Kierland
    • Two bedrooms and bathrooms, 1,386 square feet. Asking price was $1,275,000.
    • Two bedrooms and two and one-half bathrooms, 1,579 square feet. Asking price was $1,430,000.
  • Scottsdale Waterfront Residences – Two bedrooms, two and one-half bathrooms, 2,922 square feet. Asking price was $3,750,000.
  • 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 $1,495,000.
    • 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 $1,450,000.
    • One bedroom, one and one-half bathrooms, 1,698 square feet. Asking price was $1,475,000.
    • Two bedrooms, two and one-half bathrooms, 1,789 square feet. Asking price was $1,600,000.
    • Two bedrooms, two and one-half bathrooms, 1,847 square feet. Asking price was $1,600,000.
    • Two bedrooms, two and one-half bathrooms, 1,789 square feet. Asking price was $1,650,000.
    • Two bedrooms, two and one-half bathrooms, 1,847 square feet. Asking price was $1,650,000.
    • 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.
    • Two bedrooms, two and one-half bathrooms, 2,346 square feet. Asking price was $1,875,000.
    • Two bedrooms, two and one-half bathrooms, 2,547 square feet. Asking price was $1,925,000.
    • One bedroom, two bathrooms, 1,896 square feet. Asking price was $1,975,000.
    • Two bedrooms, two and one-half bathrooms, 2,547 square feet. Asking price was $1,995,000.
    • 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, 2,318 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, 2,510 square feet. Asking price was $2,995,000.
    • Two bedrooms, three bathrooms, 2,497 square feet. Asking price was $3,050,000.
    • TWo bedrooms, three bathrooms, 2,592 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.
    • Three bedroons, four bathrooms, 3,329 square feet. Asking price was $3,900,000.
    • 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 – Four bedrooms, three and one-half bathrooms, 4,286 square feet. Asking price was $4,475,000.

LUXURY CONDO SALES IN SCOTTSDALE AND PHOENIX

We went from six sales in December to nine sales in January. I expect to see this figure increase in February due to all of the new activity.

Scottsdale Luxury Condo Sales

  • Optima Kierland
    • Two bedrooms, two and one-half bathrooms, 1,754 square feet. Asking price was $1,500,000 and it sold for $1,445,000.
    • Two bedrooms and bathrooms, 1,258 square feet. Asking price was $1,215,000 and it sold for $1,125,000.
  • ICON at Silverleaf – Three bedrooms, three and one-half bathrooms, 3,170 square feet. Asking price was $2,495,000 and it sold for $2,400,000.
  • 3rd Avenue Lofts – Two bedrooms, two and one-half bathrooms, 2,340 square feet. Asking price was $1,425,000 and it sold for $1,350,000.
  • Optima Camelview – Three bedrooms, two bathrooms, 2,498 square feet. Asking price was $1,750,000 and it sold for list price.
  • Scottsdale Waterfront Residences – Two bedrooms, two and one-half bathrooms, 2,469 square feet. Asking price was $2,695,000 and it sold for $2,675,000.

Phoenix Luxury Condo Sales

  • One Lexington – Two bedrooms, two and one-half bathrooms, 1,779 square feet. Asking price was $1,275,000 and it sold for $1,150,000.
  • Toscana at Desert Ridge – Two bedrooms, two and one-half bathrooms, 1,780 square feet. Asking price was $1,225,641 and it sold for list price.
  • Two Biltmore Estates – Four bedrooms, three and one-half bathrooms, 4,817 square feet. Asking price was $3,950,000 and it sold for $3,900,000.

Learn More About Phoenix and Scottsdale Luxury Condos

Search Phoenix and Scottsdale Luxury Condos for Sale 

Open Map
79 Matches Found
$1,717,000
19360 N 73rd Street, 1075, Scottsdale, AZ
Active
3BD 3.5BA 2,858SF
Last Modified: 12:56am, November 16, 2024
IDX
Listing Office: Cambridge Properties
$1,804,000
19360 N 73rd Street, 1072, Scottsdale, AZ
Active
3BD 3.5BA 2,957SF
Last Modified: 12:44am, November 16, 2024
IDX
Listing Office: Cambridge Properties
$1,150,000
27000 N ALMA SCHOOL Parkway, 2008, Scottsdale, AZ
Active
3BD 3BA 2,627SF
Last Modified: 3:11pm, November 15, 2024
IDX
Listing Office: Compass
$2,327,777
7180 E KIERLAND Boulevard, 1211, Scottsdale, AZ
Active
2BD 2.5BA 1,579SF
Last Modified: 2:50am, November 15, 2024
IDX
Listing Office: Daisy Dream Homes Real Estate, LLC
$1,650,000
7151 E RANCHO VISTA Drive, 5001, Scottsdale, AZ
Active
3BD 2BA 1,681SF
Last Modified: 10:26pm, November 14, 2024
IDX
Listing Office: Compass
$3,195,000
7117 E RANCHO VISTA Drive, 5003, Scottsdale, AZ
Active
3BD 2BA 2,228SF
Last Modified: 10:25pm, November 14, 2024
IDX
Listing Office: Compass
$2,550,000
6166 N SCOTTSDALE Road, B1005, Scottsdale, AZ
Active
2BD 2.5BA 3,016SF
Last Modified: 3:25pm, November 14, 2024
IDX
Listing Office: The Agency
$12,900,000
18720 N 101ST Street, 4019/18, Scottsdale, AZ
Active
4BD 4.5BA 6,288SF
Last Modified: 6:25pm, November 13, 2024
IDX
Listing Office: Silverleaf Realty
$3,500,000
18720 N 101ST Street, 2006, Scottsdale, AZ
Active
2BD 3BA 2,752SF
Last Modified: 6:13pm, November 13, 2024
IDX
Listing Office: Silverleaf Realty
$6,900,000
18720 N 101ST Street, 3017, Scottsdale, AZ
Active
5BD 5.5BA 5,534SF
Last Modified: 6:12pm, November 13, 2024
IDX
Listing Office: Silverleaf Realty
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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.
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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 2/1/2024 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 ©2024 Heather Tawes Nelson | Joyce Tawes

Don’t Let the Latest Home Price Headlines Confuse You

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Based on what you’re hearing in the news about home prices, you may be worried they’re falling. But here’s the thing. The headlines aren’t giving you the full picture.

North Scottsdale Homes

If you look at the national data for 2023, home prices actually showed positive growth for the year. While this varies by market, and while there were some months with slight declines nationally, those were the exception, not the rule.

The overarching story is that prices went up last year, not down. Let’s dive into the data to set the record straight. 

2023 Was the Return to More Normal Home Price Growth

If anything, last year marked a return to more normal home price appreciation. To prove it, here’s what usually happens in residential real estate.

In the housing market, there are predictable ebbs and flows that take place each year. It’s called seasonality. It goes like this. Spring is the peak homebuying season when the market is most active. That activity is usually still strong in the summer, but begins to wane toward the end of the year. Home prices follow along with this seasonality because prices grow the most when there’s high demand.

The graph below uses data from Case-Shiller to show how this pattern played out in home prices from 1973 through 2022 (not adjusted, so you can see the seasonality):

As the data shows, for nearly 50 years, home prices match typical market seasonality. At the beginning of the year, home prices grow more moderately. That’s because the market is less active as fewer people move in January and February. Then, as the market transitions into the peak homebuying season in the spring, activity ramps up. That means home prices do too. Then, as fall and winter approach, activity eases again and prices grow, just at a slower rate.

Now, let’s layer the data that’s come out for 2023 so far (shown in green) on top of that long-term trend (still shown in blue). That way, it’s easy to see how 2023 compares.

As the graph shows, moving through the year in 2023, the level of appreciation fell more in line with the long-term trend for what usually happens in the housing market. You can see that in how close the green bars come to matching the blue bars in the later part of the year.

But the headlines only really focused on the two bars outlined in red. Here’s the context you may not have gotten that can really put those two bars into perspective. The long-term trend shows it’s normal for home prices to moderate in the fall and winter. That’s typical seasonality.

And since the 49-year average is so close to zero during those months (0.10%), that also means it’s not unusual for home prices to drop ever so slightly during those times. But those are just blips on the radar. If you look at the year as a whole, home prices still rose overall.

What You Really Need To Know

Headlines are going to call attention to the small month-to-month dips instead of the bigger year-long picture. And that can be a bit misleading because it’s only focused on one part of the whole story.

Instead, remember last year we saw the return of seasonality in the housing market – and that’s a good thing after home prices skyrocketed unsustainably during the ‘unicorn’ years of the pandemic.

And just in case you’re still worried home prices will fall, don’t be. The expectation for this year is that prices will continue to appreciate as buyers re-enter the market due to mortgage rates trending down compared to last year. As buyer demand goes up and more people move at the same time the supply of homes for sale is still low, the upward pressure on prices will continue.

Bottom Line

Don’t let home price headlines confuse you. The data shows that, as a whole, home prices rose in 2023. If you have questions about what you’re hearing in the news or about what’s happening with home prices in our local area, let’s connect.

Quick Video Update of the Scottsdale Real Estate Market – January 2024

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– January 2024 Scottsdale Housing Market Video –

Here is a less-than-a-minute video overview of the Scottsdale, Arizona single-family home real estate market that covers the month of January.

January 2024 – Video

Scottsdale Active Listings

Scottsdale active listings January 2024

With the beginning of the new year, we saw a nice jump in the number of homes for sale in Scottsdale.

Inventory was up 18% over December. This is good news for buyers since we are still below normal levels.

The number of homes for sale was also up compared to the same time in 2023.

Average List Price for Scottsdale Homes

Scottsdale average list price January 2024

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 for homes in Scottsdale came in just under $2.5 million. This represents an increase of 1.9% month-over-month. However, there was an increase of 8% when compared to January 2023.

Days on Market

Scottsdale days on market January 2024

Days on Market (also referred to as DOM) is a quick measure to see how a market is performing. If a market is “hot,” you will see a lower DOM. However, if the market is cool, the DOM will be higher.

Scottsdale’s Days on Market came in at 73 for January. This is down 2.7% from December and down 6.8% from January 2023.

Average Sales Price for Scottsdale Homes

Scottsdale days on market January 2024

Now we will take a look at what homes sold for on average.

We did see a bit of a drop (7.5%) in average sales price between December and January. However, we did see an 8.7% increase when comparing January 2023 and January 2024.

Number of Homes Sold

Scottsdale homes sold January 2024

This last section covers the number of homes that sold in Scottsdale.

In January, we saw 244 home sales. This is a 9.4% drop compared to December’s sales. However, this drop is not surprising. Buyers and sellers tend to take a break over the holidays. Even though sales were lower than the previous month, they were up 15.6% year-over-year.

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.

Here Are Some Scottsdale Homes Currently For Sale

2,091 Listings
11124 E Del Timbre Drive, Scottsdale, AZ 85259

$2,795,000 11124 E Del Timbre Drive
Scottsdale, AZ 85259 11124 E Del Timbre Drive
Scottsdale, AZ 85259Listing office: HomeSmart

15215 N KIERLAND Boulevard, 531, Scottsdale, AZ 85254

$2,695,000 15215 N KIERLAND Boulevard, 531
Scottsdale, AZ 85254 15215 N KIERLAND Boulevard, 531
Scottsdale, AZ 85254Listing office: Compass

11615 E Terra Drive, Scottsdale, AZ 85259

$1,300,000 11615 E Terra Drive
Scottsdale, AZ 85259 11615 E Terra Drive
Scottsdale, AZ 85259Listing office: HomeSmart

28729 N 107TH Street, Scottsdale, AZ 85262

$1,790,000 28729 N 107TH Street
Scottsdale, AZ 85262 28729 N 107TH Street
Scottsdale, AZ 85262Listing office: HomeSmart

7870 E CAMELBACK Road, 211, Scottsdale, AZ 85251

$379,900 7870 E CAMELBACK Road, 211
Scottsdale, AZ 85251 7870 E CAMELBACK Road, 211
Scottsdale, AZ 85251Listing office: eXp Realty

1217 N MILLER Road, 13, Scottsdale, AZ 85257

$399,000 1217 N MILLER Road, 13
Scottsdale, AZ 85257 1217 N MILLER Road, 13
Scottsdale, AZ 85257Listing office: My Home Group Real Estate

8130 E VISTA BONITA Drive, Scottsdale, AZ 85255

$3,200,000 8130 E VISTA BONITA Drive
Scottsdale, AZ 85255 8130 E VISTA BONITA Drive
Scottsdale, AZ 85255Listing office: DeLex Realty

8413 E JACKRABBIT Road, Scottsdale, AZ 85250

$674,000 8413 E JACKRABBIT Road
Scottsdale, AZ 85250 8413 E JACKRABBIT Road
Scottsdale, AZ 85250Listing office: Realty ONE Group

7709 E WILSHIRE Drive, Scottsdale, AZ 85257

$500,000 7709 E WILSHIRE Drive
Scottsdale, AZ 85257 7709 E WILSHIRE Drive
Scottsdale, AZ 85257Listing office: Gentry Real Estate

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

Upgrade Your Home With These 2024 Design Trends

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One of the best parts of owning a home is the freedom to make it truly your own with design choices that reflect your personality and lifestyle. Whether you lean toward contemporary design or a farmhouse aesthetic, your home is your canvas.

Even so, it’s always smart to think about the long-term impact those decisions might have on your home’s value. Choosing over-personalized or unpopular materials and finishes could make your home less appealing to future buyers. And selecting out-of-style or overly-trendy elements could cause your home to feel dated quickly.

To help inspire your design choices, we’ve rounded up some of the top trends we’re watching in 2024. Keep in mind, not all of these will work well in every house. If you plan to list or renovate your property, give us a call. We can help you realize your vision and maximize the impact of your investment.

  1. Spa-Like Bathrooms

We could all use a little more relaxation in our lives—so why not bring the spa into your home? In 2024, more homeowners will remodel their bathrooms to turn them into personal oases.1,2

If you’re undertaking a renovation, consider upgrading fixtures and materials. Handmade tile and custom cabinetry can add a touch of style and luxury. Trade stark whites for warm neutrals to create a more relaxed feel—think light wood tones, creams, and beiges.3 Complete the look with soft ambient lighting from a backlit mirror or pair of decorative sconces.2,3

If you want to maximize the mind-body benefits of a relaxing bathroom (and have the budget to spare), you might consider installing a steam shower, infrared sauna, or cold plunge tub.3 Not looking to spend as much? Even minor upgrades like a massaging showerhead or heated towel bar can add some pampering to your morning routine.3

But remember, if you’re modifying your bathroom, it’s always wise to work with experienced and licensed professionals to avoid water damage that could lead to costly repairs. We can refer you to a trusted contractor for help.

  1. Maximalist Decor

In 2024, maximalism is back in vogue, contrasting the neutral aesthetic that dominated design in recent years. While maximalism can be summed up as “more is more,” there’s nothing sloppy or cluttered about this look. Instead, it’s all about intentional curation.4

Hallmarks of maximalist style include rich and saturated colors, bold wallpaper, statement rugs and furniture, and lots of art. And forget matching—maximalist interiors often include plenty of contrasting colors, textures, and patterns selected to complement one another.4

If you’re trying to embrace maximalism on a budget, check out thrift stores. They’re often a great place to find unique furniture, colorful rugs, and interesting art or collectibles. Before you invest in rolls of vintage wallpaper, though, it’s important to note—if you plan to sell your home in the near future, the maximalist look won’t appeal to every buyer.

We typically advise sellers to remove clutter and personal items to help buyers imagine their own future lives within the home. Sometimes, that means repainting or redecorating in a more neutral palette. Of course, this shouldn’t stop you from embracing your own style now—just be aware that you may need to walk back your aesthetic prior to selling. We can advise you when the time comes.

  1. Japandi Style

Not quite ready to embrace maximalism? Japandi style, which blends Japanese and Scandinavian influences, offers a more subdued approach that still has plenty of character. The look dates back about 150 years to a time when many Scandinavian designers were traveling to Japan for inspiration.5

Japandi style brings together clean lines, simplicity, and a focus on natural elements and light. It emphasizes the beauty in imperfection, or “wabi sabi,” and a deep connection to Mother Earth. And like Scandinavian decor, the look prioritizes comfort and a sense of sanctuary in the home.5

Interested in playing with Japandi? Common features include calming color palettes and organic materials like raw wood and bamboo. Try softening harsh edges with softer textures, like cozy blankets and ceramic pieces.

The look also minimizes clutter, but that doesn’t mean you need to be a minimalist. Instead, Japandi style embraces storage solutions like baskets, folding screens, and sofas with built-in storage to give everything a place.6 If you’d like some help implementing Japandi-style organization in your home, contact us for a list of recommended professionals.

  1. Mixed Metals

Mixing metals used to be a “no-no.” But in 2024, it’s definitely a “yes.”

According to designers, mixing the colors and finishes of metal fixtures and hardware can bring visual interest to a room—as long as you go about it the right way.1,7

The most important rule to keep in mind is to stay away from near matches, like brass and gold—that’s more likely to look accidental than intentional. Instead, go for bold contrast: Think polished nickel and matte black.7

Some designers recommend using each metal at least twice in a room to make it look cohesive. Another good rule of thumb is to stick to two types of metals in a small room and two to three in a larger space.7

Finally, you might think about playing with undertones (brass is warm, chrome is cool) to change the “temperature” of a room. And don’t be afraid of a little shine—many designers predict that a retro, high-polished look will replace matte finishes in 2024.8

Want some help sourcing fixtures and hardware in a variety of finishes? Reach out for a list of our favorite retailers.

  1. Wood Cabinetry And Accents

The all-white kitchen has been ubiquitous in recent years. But in 2024, classic wood cabinetry is back in a big way.9 In fact, industry professionals surveyed by the National Kitchen & Bath Association predict that wood cabinets will be more popular than white in the next three years.10

Natural wood tones offer a sense of warmth and natural beauty.11 And today’s cabinets aren’t anything like the heavy, dated versions of the past. Instead, light to medium versions—like white oak and walnut—and warmer undertones are trending.9

The addition of wood-grain accents to painted kitchen cabinets—like with a contrasting island or range hood—is another popular option.12  And wood continues to be a favored choice for flooring. A recent survey found that 40% of homeowners opted for either hardwood or engineered wood when renovating their kitchen floors.13

You can also expect to see more wood in bathrooms in 2024. According to Houzz, last year, wood vanities surpassed white in popularity for the first time in recent years, and designers expect the trend to continue.12 While white countertops and walls still dominate bathrooms, a wood-grained vanity brings a relaxed, organic element into the space.

Dreaming about new cabinets or hardwood floors? We’d be happy to share a list of recommended trade professionals who can help.

  1. Timeless Renovations

In its latest Kitchen Trends Study, Houzz found that “nearly half of homeowners (47%) opt for a timeless design as a sustainable choice during renovations.” Respondents cited long-term cost effectiveness and environmental consciousness as their main motivators.14

In a rapidly changing, technology-driven world, it’s no surprise that homeowners want a nurturing space with lasting appeal—especially if they plan to stay in their homes for years to come.12

Traditional materials and quality craftsmanship lie at the core of timeless design, which some designers are calling “quiet luxury.”15 Think of enduring classics, like hardwood floors, hand-crafted tiles, and marble countertops.12 A timeless color palette will also often include warm neutrals and muted shades of blue and green.15

If you’re thinking about remodeling, it’s wise to incorporate as many classic elements as you can. These stylistic choices tend to hold up well over time, which can prolong the life of your investment and make it easier to sell your home down the road. If you’d like advice on an upcoming project, contact us for a free consultation.

BEAUTIFY YOUR HOME WHILE BOOSTING ITS VALUE

If you’re thinking about making design changes—whether that’s repainting or a full remodel—it’s important to be informed about how your choices could impact your home’s resale potential. Buyer preferences can vary significantly based on your home’s neighborhood and price point. Before you begin your project, reach out to discuss your plans and how they could impact the value of your home.

The above references an opinion and is for informational purposes only.  It is not intended to be financial, legal, or tax advice. Consult the appropriate professionals for advice regarding your individual needs.

Sources:

  1. HGTV – 
    https://www.hgtv.com/design/decorating/design-101/2024-home-and-garden-design-trends
  2. The Spruce –
    https://www.thespruce.com/2024-design-trends-8411457
  3. The Spruce –
    https://www.thespruce.com/2024-bathroom-design-trends-8380169
  4. Homes and Gardens –
    https://www.homesandgardens.com/interior-design/maximalist-decor-ideas
  5. The Spruce –
    https://www.thespruce.com/japandi-design-4782478
  6. House Beautiful –
    https://www.housebeautiful.com/room-decorating/a45851530/japandi-interior-design-style/
  7. The Spruce – https://www.thespruce.com/4-rules-designers-say-you-should-follow-or-ignore-when-mixing-metals-in-a-room-5199031
  8. The Spruce –
    https://www.thespruce.com/2024-lighting-trends-8365056
  9. Good Housekeeping –
    https://www.goodhousekeeping.com/home/decorating-ideas/a45576463/wood-kitchen-cabinet-trend-2023/
  10. Better Homes and Gardens –
    https://www.bhg.com/2024-kitchen-trends-840656
  11. Real Simple –
    https://www.realsimple.com/2024-kitchen-cabinet-trends-masterbrand-7974600
  12. Houzz –
    https://www.houzz.com/magazine/28-home-design-trends-that-will-define-2024-stsetivw-vs~172317389
  13. Houzz –
    https://www.houzz.com/magazine/10-kitchen-trends-to-watch-in-layouts-features-and-more-stsetivw-vs~165050822
  14. Houzz –
    https://www.houzz.com/magazine/2023-u-s-houzz-kitchen-trends-study-stsetivw-vs~164970160
  15. Better Homes and Gardens –
    https://www.bhg.com/quiet-luxury-home-trend-7554026
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