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Scottsdale AZ Home Sales By Type – Includes Foreclosures & Short Sales – Q3 2010

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– Q3 2010 Scottsdale Home Sales –

After each quarter, I pull the most recent Scottdsdale Arizona home sales statistics to see how the home sales broke out into different categories.  I like to see how many home sales were “regular” sales and how many were distress sales such as foreclosures or short sales. I also take these figures and compare them to previous quarters.

Here is how I am defining the three categories of home sales:
– Non-Distressed Sales – These are traditional, “regular” home sales.
– Short Sales – These are where homeowners are trying to sell the home for less than is owed. These sales require their lender’s approval.
– Foreclosures – These are homes the lender has foreclosed upon and now owns. You will see them referenced as “Lender-Owned”. You may also hear them called “REO‘” homes or “Bank-Owned” homes.

Overall Findings for Q3 2010 – Scottsdale Single-Family Home Market

  • Active Homes For Sale: The bulk of Scottsdale homes for sale at the end of Q3 2010 were “non-distressed” sales at 72%. Short sales came in second with just under 20% and lender-owned homes were 10% of the active listings.
  • Pending Homes for Sale: Although regular sales made up the majority of homes on the market, distressed sales made up the majority of pending sales at the end of Q3 at 59%.
  • Q3 2010 Scottsdale Home Sales: Even though pending inventory skewed toward short sales and foreclosures, 57% of Q3 Scottsdale home sales were regular sales. Short sales and foreclosure sales were pretty even at 26% and 25% respectively.
  • Home Prices: The highest average home prices and price per square foot were fetched by regular sales. Short sales came in quite a bit lower, over $120,000 lower on average, and average foreclosure prices were the lowest at about $150,000 off average regular sales prices. The average square feet on the sold homes in all categories was very similar in the 2,800 square foot range.
  • Days on Market: Days on market was the lowest for foreclosures. This is not surprising as there is a lot of demand for foreclosed homes in Scottsdale. Regular sales came in slightly higher in days on market and short sales took the longest, which is not surprising as they are known for taking a long time to close.
  • Discounts Off of List Price: The largest discount off of list price was with regular sales at 9% off of asking. Short sales and foreclosures average about 5% off the asking price. This is more or less what we have been seeing all year.

Scottsdale Real EstateSales By Type Q3 2010 Short Sales Foreclosures

Here are some additional analyses that summarize the first three quarters of 2010.

Scottsdale AZ Real Estate Sales Performance through October 2010 Foreclosures Short Sales

Scottsdale AZ Real Estate Sales by Type through Q3 10 Short Sales Foreclosures

 

Previous Reports
View Scottsdale Home Sales by Type for Q2 2010
View Scottsdale Home Sales by Type for Q1 2010
View Scottsdale Home Sales by Type for 2009

Disclaimer: Data and information was pulled from the Arizona Regional MLS (ARMLS) as of 4/1/2010, 7/1/2010 and 10/1/2010 and can change at any time. The analysis looks at single-family resale homes for sale and sales 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. Information deemed reliable but not guaranteed.
Copyright © 2010 Heather Tawes Nelson

What To Do in Scottsdale AZ – Holidays 2010

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Old Town Scottsdale ArizonaNow that things have cooled off in Scottsdale, Arizona and the weather is amazing, there are plenty of great Scottsdale area events happening. Couple that with the upcoming holidays and events are going on everywhere.

While this list is not exhaustive, here are a few things to do in Scottsdale over the next couple of months:

  • The Phoenix Zoo’s Zoolights are back – Running from November 25th 2010 through January 9th 2011 in the evening, the Zoolights exhibit is sure to put a smile on your face. There are over 3.5 million lights that form over 600 sculptures. This year, they are launching a Polar Slide where you can rush down a 180 foot long “ice” slide on an inner-tube.
  • One of the most charming things to see in the Southwest is luminarias twinkling against a desert backdrop. Experience this in person at Las Noches de las Luminarias at the Desert Botanical Garden in Phoenix. This special event runs from December 2- December 30, 2010.
  • Interested in architecture and design or want to be part of the changes to Downtown Scottsdale? Attend one or all of the events around the Paolo Soleri Bridge & Plaza Dedication Weekend taking place December 10-12, 2010.  While the dedication takes place on Saturday the 11th, there is a full schedule of activities and events all weekend. They include tours of Soleri’s work, lectures and exhibits as well as other events.
  • Ice skating in the desert? You bet. While we do not have true ice like many of our neighbors in colder climates do, put on your skates and enjoy the synthetic ice at Palavela Home. From December 2 through December 31, you can enjoy a 45 minute skating session that comes with skate rentals. Be sure to make a reservation as only 40 people can skate per session.
  • For art lovers, Old Town Scottsdale ‘s Thursday night Art Walks are a great way to see Scottsdale’s excellent and varied galleries. From 7-9PM every Thursday, take the time to visit local vendors and enjoy nibbles and refreshments along the way.
  • Looking for fresh produce and artisan goods? The Old Town Scottsdale’s Farmer’s Market is up and running again. Stop by on Saturday mornings between 8:30AM and 1PM and support local growers and producers and enjoy fresh from the farm goods.
  • For the sports lover, the Insight Bowl takes place on  December 28th. Head on down to Tempe and cheer on the competing teams as they go for the Insight Bowl title.

Where to Eat in Scottsdale AZ – Pizza Peak

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Pizza Peak North Scottsdale General StoreUPDATE: Pizza Peak has closed.

 

If you are looking for great pizza in North Scottsdale, Arizona – look no further.  Located in the shopping arcade on the southwest corner of Pinnacle Peak and Pima Roads is Pizza Peak.  Known as “The Original Pizza Place in Pinnacle Peak” it was first opened when the shopping center was built by the developers of the Pinnacle Peak area.

Lon Cruse, the current owner, has been in charge for the last 7 ½ years.  Lon is always there to serve you as this is a family-run business and he wants to make sure you have a great experience. Pizza Peak provides free delivery to your home or office and it is open 7 days a week. The menu includes hearty appetizers, pastas, salads and subs in addition to great pizza. Lon shared with me that he uses only the finest cheeses, which make a big difference in the taste of his delicious pizzas.

If you haven’t visited this wonderful Mission style shopping center at 8711 E Pinnacle Peak Road as yet, take the time to stop in and walk around. There is a traditional courtyard with fountains, cobblestones, old wooden carts and other touches from Old Scottsdale. Pizza Peak itself is smaller with a few booths inside, but right outside is the expansive courtyard with tables and chairs so you can enjoy your pizza and other items al fresco.

We have made Friday night our “date night” with our young grandchildren. They love visiting with Lon who keeps a pizza-twirling Elmo on the shelf to keep the toddlers happy. We have our fresh out-of-the-oven pizza on the patio and after they’ve finished eating there is a lot of running room for them to play without disturbing other diners.

85255 pizza Pizza Peak Scottsdale AZGoing to Pizza Peak is a visit into the early history of the Scottsdale’s expansion to the north. The shopping arcade also features art stores, interior design firms, and the well-known “Country Store” which has a gas station, restaurant and is home to one of the best post offices in town.

Give yourself a break and come enjoy great pizza and Italian favorites in a very relaxed setting at Pizza Peak.

More information on Pizza Peak:
Pizza Peak
8711 E Pinnacle Peak Road
Scottsdale, AZ 85255
480-585-6000
Open 7 Days
Delivery Available

Scottsdale AZ Single-Family Luxury Home Market – October 2010

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– October 2010 Scottsdale Luxury Home Sales –

Here are the figures for the luxury home sales in Scottsdale, Arizona for October 2010. This monthly report looks at  luxury homes on the market in Scottsdale that have list prices of $1 million or more. This analysis looks at the last 12 months of resale data.

– October 2010 –
 
Scottsdale Homes Priced Between $1,000,000 – $1,499,999
– Active Scottsdale Luxury Homes on the Market: The number of homes for sale in this category saw its first increase since April of this year in October. The 12 month average is 320 homes on the market, so we are still below that.
– Pending Home Sales: Pending sales saw a nice 27% rebound over September to 23. This is just behind the 12 month average of 24 and is the highest we have seen since June of this year.
– Homes Sold: Home sales were up slightly to 12 in October. However, this is still well behind the 12 month average of 18 sales per month.
– Sales Price to Listed Price: 89.2%- This is pretty typical for this price range.

 Scottsdale AZ Real Estate Sales Between $1 and $1.5 million - October 2010

   Scottsdale Homes Priced Between $1,500,000 – $1,999,999
– Active Scottsdale Luxury Homes on the Market: The number of homes on the market in this price range continues to decrease. At the end of October, there were 163 homes for sale, below the 12 month average of 205.
– Pending Home Sales: Only 8 homes were pending at the end of October. This is the lowest it has been in the last year and it is only half of the 12  month average of 12.
– Homes Sold: Six homes sold in October, which is the lowest we have seen all year. The 12 month average is 10 home sales.
– Sales Price to Listed Price: 85.2% – This is pretty standard for this price point and it was an improvement over September’s percentage.

 Scottsdale AZ Real Estate Sales Between $1.5 and $2 million - October 2010

 

Scottsdale Homes Priced Between $2,000,000 – $2,999,999
– Active Scottsdale Luxury Homes on the Market: Inventory decreased in this price segment in October after a jump in September. At the end of October, there were 163 homes for sale, behind the 12 month average of 190.
– Pending Home Sales: Pending sales at the end of the month were at 7. This is down slightly from September and is one pending sale behind the 12 month average of 8.
– Homes Sold: Homes sales moved up by one last month to 4. This is still well behind the 12 month average of 7 home sales.
– Sales Price to Listed Price: 83.9% – We typically see this number in the mid to high-80%”s.

 Scottsdale AZ Real Estate Sales Between $2 and $3 million - October 2010
Scottsdale Homes Priced $3,000,000+
– Active Scottsdale Luxury Homes on the Market: The number of homes for sale in excess of $3 million went up in October to 109. This is the second month we have seen inventory increase. The 12 month average is 129 homes on the market.
– Pending Home Sales: Pending home sales had a nice upward movement to 6 at the end of the month. This is ahead of the 12 month average of 4.
– Homes Sold: There was only a single sale of a home in October. This is the lowest we have seen this figure since December of 2009. The 12 month average is 3 sales per month.
– Sales Price to Listed Price: 79.1% – This figure has been in the 70%’s range for the last three months. Prior to that it was in the 80%’s for many months.

Scottsdale AZ Real Estate Sales Over $3 million - October 2010

 

October was a better month for the luxury home market in Scottsdale, Arizona, particularly after such a difficult September. However, we continue to some small inventory increases in some of the price segments. Pending sales, while recovering, were still lagging 12 month averages for the most part and sales activity was still depressed.

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

Disclaimer: Information herein deemed reliable but not guaranteed. Data and information was pulled from the Arizona Regional MLS (ARMLS) as of 11/1/2010 and can change at any time. The analysis looks at single-family luxury 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 implied or expressed.
Copyright © 2010 Heather Tawes Nelson

Phoenix and Scottsdale AZ Luxury Condo Sales – October 2010

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Here is a snapshot of the Phoenix and Scottsdale luxury condo market for October 2010. I define the luxury condo market as condominiums for sale with asking prices of $1 million or more.

The Scottsdale and Phoenix area luxury condo market had a slightly better October than September, however it is still not up to the average of slightly over two sales a month pace we saw earlier in the year.

At the end of October, there were no pending luxury condo sales in Scottsdale and Phoenix, but there was a single sale. The single sale was in Scottsdale at the Optima Camelview community. It was for an oversized penthouse unit (two units combined) with three bedrooms, three and one-half baths and 3,233 square feet.  It was a foreclosure and sold for its asking price at $1,299,800.

Scottsdale And Phoenix Luxury Condo Sales October 2010

The positive note is that we did see a luxury condo sale in October following a September with no sales. Inventory is also down a little bit. However, the absence of any pending sales causes concern for November sales figures.

Search Phoenix and Scottsdale Luxury Condos for Sale

Disclaimer: Information herein deemed reliable but not guaranteed. Data and information was pulled from the Arizona Regional MLS (ARMLS) as of 11/1/2010 and can change at any time. The analysis looks at resale luxury condos in Scottsdale 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 © 2010 Heather Tawes Nelson

13 Arizona Golf Courses Make Golfweek’s Best Residential Courses 2011

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Estancia Luxury Golf Community Scottsdale AZ
Estancia – Scottsdale, Arizona

Golfweek  just released the 2011 version of its Best Residential Courses rankings, and thirteen Arizona courses made the list. While the courses were spread all over the state, the bulk of them came from the Scottsdale area.

The highest ranked residential course in Arizona, coming in at #19,  was the Canyon Course located at Forest Highlands in Flagstaff, Arizona. Both courses were designed by Jay Morrish and Tom Weiskopf. Forest Highlands is a guard-gated community located in Northern Arizona. Flagstaff is a very popular summer destination for Scottsdale area residents as the high elevation means temperatures tend to be about 20 degrees cooler than the Phoenix Valley. Forest Highland’s second course, the Meadow Course, came in at number 77.

Six Scottsdale golf courses made the list and all of them are located in North Scottsdale . The highest-ranked Scottsdale course was at Estancia, at number 24.  This Tom Fazio course is just north of Pinnacle Peak and is an amazing course.

Here are the six Scottsdale golf courses and their respective ranks:

Other Arizona residential golf courses that made the list were:

  • The Rim Golf Club in Payson, Arizona – Ranked #21
  • Stone Canyon in Oro Valley, Arizona – Ranked #32
  • Quintero in Peoria, Arizona – Ranked #41
  • Seven Canyons in Sedona, Arizona – Ranked #48
  • The Gallery (South) in Tucson, Arizona – Ranked #93

Scottsdale AZ Single-Family Homes for Sale – October 2010

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– October 2010 Scottsdale Home Sales –

Here are the numbers for October 2010 home sales in Scottsdale AZ. This monthly analysis takes a look at single-family homes on the market in Scottsdale, pending home sales and actual home sales. The data looks back over the last 12 months to give you a better idea of how the market is performing.

 October 2010 Scottsdale AZ Home Sales

Scottsdale AZ Real Estate Activity October 2010

October 2010 Highlights for Scottsdale AZ Homes for Sale:

  • Active Scottsdale Homes for Sale: The number of homes on the market dipped slightly in October down to 2,718. This is just below the 12 month average of 2,751.
  • Pending Homes Sales in Scottsdale: Pending sales increased 7.6% over September to 482. While this is an improvement, this is still trailing behind the 12 month average of 520.
  • Scottsdale Homes Sold: Sales were up 12.9% over September, which is encouraging. Sales had dropped into the 200’s in September which is the second lowest they have been in a year. The sales figure of 324 for October is still behind the 12 month average of 361.

October 2010 was a slightly better month for Scottsdale AZ home sales. We saw a slight decrease in inventory and both pending and actual home sales were up, which is a positive sign. Ideally, the higher pending sales will propel home sales in November.

Search Scottsdale AZ Homes for Sale

Disclaimer: Data and information was pulled from the Arizona Regional MLS (ARMLS) as of 11/1/2010 and can change at any time. The analysis looks at single-family resale homes for sale and home sales 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 © 2010 Heather Tawes Nelson

Whisper Rock of Scottsdale AZ – Home Sales Through September 2010

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– Whisper Rock Real Estate Update –

Whisper Rock is an exclusive, private golf community located in the foothills of North Scottsdale, Arizona. The elegant homes are situated on and around the two golf courses designed by Tom Fazio and Phil Mickelson.

Below are two charts outlining home sales at Scottsdale’s Whisper Rock for 2010. The first chart takes a look at the number of homes currently on the market. The second chart looks at home sales for the first three quarters of 2010 as well as year-to-date figures.

Homes for Sale at Whisper Rock Scottsdale AZ 85266

Homes Sold in Whisper Rock Scottsdale 2010

Home sales in Whisper Rock were doing well in Q1 and Q2 with four sales apiece. Sales dropped off quite a bit in Q3 to a single sale. And, as of October 26th, there were no pending sales yet for the 4th quarter. Average sales price also saw a decline quarter after quarter, although the average size of the home sold also dropped correspondingly. Discounts off of asking price grew over the course of the year with an average 11% off of asking price for year-to-date.

About Whisper Rock in Scottsdale, Arizona
Whisper Rock  is an elegant community that spreads over 800 acres of premier North Scottsdale real estate. Homesites are large at Whisper Rock, averaging about 2 acres per lot and the custom homes are truly stunning. The terrain around Whisper Rock is rolling hills and its elevation provides for some wonderful city light and mountain views. Onsite amenities include a fitness center with pool and spa, miles of trails, tennis and basketball courts and so much more.

Membership in the Whisper Rock Golf Club is by invitation only and is limited to 329. Golf members enjoy the challenging Upper and Lower courses designed by Fazio and Mickelson.

Search Whisper Rock Homes for Sale

Disclaimer: Information herein deemed reliable but not guaranteed. Data and information was pulled from the Arizona Regional MLS (ARMLS) as of 10/26/2010 and can change at any time. The analysis looks at home sale activity in the golf community of  Whisper Rock in Scottsdale, Arizona. This blog represents the opinion of the author. No warranties implied or expressed.
Copyright © 2010 Heather Tawes Nelson

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