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Spring Training 2020 Is Here!

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– Spring Training 2020 in Scottsdale and Around the Valley –

The 2020 Cactus League Spring Training season has officially begun! And every day between now and March 24th, fans will get to see some of their favorite teams play in more intimate and smaller facilities. And with ten venues all over the Valley, there are plenty of opportunities to experience the action.

Spring Training 2020

Scottsdale is home to two of the facilities, the Scottsdale Stadium and Salt River Fields (in the Salt River Pima–Maricopa Indian Community). The Scottsdale Stadium is the home of the San Francisco Giants and Salt River Fields is the home base for both the Arizona Diamondbacks and the Colorado Rockies.

Other locations around the Valley include:

  • Phoenix – American Family Fields – Milwaukee Brewers
  • Glendale– Camelback Ranch – Los Angeles Dodgers and Chicago White Sox
  • Mesa – Sloan Park – Chicago Cubs
  • Goodyear – Goodyear Ballpark – Cleveland Indians and Cincinnati Reds
  • Tempe – Diablo Stadium – Los Angeles Angels
  • Peoria – Peoria Sports Complex – San Diego Padres and Seattle Mariners
  • Hohokam Stadium (Mesa) – Oakland A’s
  • Surprise – Surprise Stadium – Kansas City Royals and Texas Rangers

Here is a downloadable 2020 Cactus League Spring Training Schedule for you. 

Cactus League Spring training 2020 schedule

If you have not had a chance to attend a Spring Training game, we highly suggest it. Scottsdale’s weather this time of year is great and the smaller venues mean you are closer to the action and excitement.

If you are looking for more information, Experience Scottsdale has put together an extensive guide that is all things Spring Training.

Here is the Cactus League’s official website.

More into stats and standings? The MLB has a page where you can stay on top of all of the action.

So go ahead and pick your venue (or venues!) and get out there for some great baseball, some great weather, perhaps a hot dog or two and a cold beverage. It is a fun way to spend an afternoon or evening!

Phoenix and Scottsdale AZ Luxury Condo Sales – January 2020

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

January was another busy month for the luxury condo market in Scottsdale and Phoenix. The number of luxury condos that were under contract at the end of the month was impressive.

We are defining the luxury condo market as those condos that are on the market for $1 million or more.

 

ACTIVE LISTINGS AT THE END OF JANUARY

There were sixty-three condos for sale at the end of January, up from sixty. Forty-seven of them had a Scottsdale address and the remainder, sixteen were in Phoenix.

  • The highest-priced luxury condo on the market was a carryover from last month. Located in the Scottsdale Waterfront Residences, this penthouse has four bedrooms, four and one-half bathrooms and a 640 square foot guest suite located on the ground floor. It was on the market for $5 million.
  • The lowest-priced luxury condo on the market was located in Optima Camelview. It has two bedrooms and bathrooms and comes in at 1,930 square feet. It was listed for $1,025,000.

UCB* LUXURY CONDO SALES IN SCOTTSDALE AND PHOENIX

January ended with four homes in UCB status, three of which were in Scottsdale.

  • Optima Kierland – Two bedrooms and bathrooms, 1,665 square feet. Listed for $1,000,000.
  • Plaza Lofts at Kierland – Two bedrooms and bathrooms, 1,664 square feet. Listed for $1,395,000.
  • Seven at Desert Mountain – Three bedrooms and three and one-half bathrooms and 2,716 square feet. Listed for $1,749,900.
  • Phoenix’s UCB was in the One Lexington high-rise in downtown Phoenix. It is a two-story glass penthouse with two bedrooms, two and one-half bathrooms and 2,288 square feet. It was on the market for $1,200,000.

*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

There were an impressive eleven pending sales in the luxury condo market.

Scottsdale Pending Luxury Condos

Many of these condos were carryovers from the end of November. Both Optima Kierland and ICON are under development, so sometimes it takes a bit for these units to close.

  • Four of the eight pending sales were located in the new Optima Kierland community.
    • 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 at Silverleaf had a single pending sale. It had three bedrooms, three and one-half bathrooms and 3,173 square feet. Its asking price was $2,072,100.
  • Optima Camelview had two pending sales.
    • Three bedrooms, two and one-half bathrooms and 2,400 square feet. It was listed for $1,000,000.
    • Three bedrooms, two and one-half bathrooms and 2,615 square feet. It was listed for $1,450,000.
  • Plaza Lofts at Kierland – Two bedrooms, two and one-half bathrooms and 2,046 square feet. It was listed for $1,595,000.

Phoenix Pending Luxury Condos

  • Esplanade Place had a new pending sale. This condo had three bedrooms and bathrooms, 3,334 square feet and was listed for $1,144,000.
  • Two Biltmore Estates closed the month with a pending sale. This unit had three bedrooms, two and one-half bathrooms and 2,329 square feet. It was listed for $1,199,000. (Carryover from last month.)
  • Fairway Lodge at The Biltmore also had a pending sale. It had three bedrooms, three and one-half bathrooms and 4,877 square feet. Listed for $2,399,000. (Carryover from last month.)

LUXURY CONDO SALES IN SCOTTSDALE AND PHOENIX

There were three sales in January, coming off of the holidays. All of them were located in Scottsdale.

  • Optima Camelview – Three bedroom, four and one-half bathroom unit with 2,400 square feet. It had been listed for $1,249,900 and sold for $1,200,000.
  • Optima Camelview – Two bedroom, two and one-half bathroom unit with 3,197 square feet. It had been listed for $1,495,000 and sold for $1,410,500.
  • SOHO Scottsdale – Penthouse with three bedrooms, three and one-half bathrooms and 3,520 square feet. It was listed for $1,425,000 and sold for $1,275,000.

 

 

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 2/1/2020 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

Where to Eat in Scottsdale – Pure Sushi

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Pure Sushi Bar in North Scottsdale’s Grayhawk

Pure Sushi has been around for a while, and for very good reason. It serves great food and drink and the service is always friendly.

We are big fans of stopping by Pure Sushi for lunch. They have some great lunch specials to explore and we have been coming here for years.

On our most recent lunch visit, we had a variety of items.

Pure Sushi Scottsdale Bento Box

I opted for the sashimi lunch which came three generous slices of four different types of fish. It was delicious and the fish was very fresh. Someone else ordered the sushi lunch which is another great option. In addition to a California roll, you get an additional four pieces of nigiri to enjoy.

Our other dining companions went with the bento box options. Pure Sushi’s bento boxes are large and filled with lots of tasty options including a green salad, tempura, rice and the protein of your choice served over stir-fried vegetables. On our visit that day, the ladies opted for the teriyaki chicken and the beef. (The other bento box option is salmon.)

We did order one more thing, which has been my favorite since we first visited Pure. It is the Box Sushi. The box sushi is pressed into a box so that when it is cut, it comes out in layers. Pure’s box sushi starts with a layer of rice, then a layer of salmon. It is then topped with a crab salad and topped off by a piece of tuna with a sprinkle of fish eggs on top. It is amazing and I order it every time.

Box Sushi Pure Sushi Scottsdale AZ

If seafood and sushi are not your thing, you are more than covered at Pure Sushi. They have items like Korean ribs, duck steamed buns, pork buns and sliders. They also have a large selection of salads and you can always get tempura and other Japanese favorites, like chicken katsu. Noodle or fried rice fan? They have that as well.

If you are craving some great sushi in a clean modern atmosphere, Pure Sushi Bar & Dining is your place!

 

More Information:
Pure Sushi Bar & Dining
20567 North Hayden Road, Suite 100
Scottsdale, Arizona 85255
Website
(480) 355-0999
– Open daily from 11AM for lunch and dinner
– Weekday Happy Hour from 3PM to 6PM

 

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

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– January 2020 Scottsdale Housing Market Video –

January 2020 – Video

Here is a one-minute video overview of the Scottsdale, Arizona real estate market for the month of January.

Scottsdale Active Listings

Scottsdale homes for Sale January 2020

Although the video says inventory was level, there was actually a 2.1% decline in the number of homes for sale between the end of December and then end of January.

Median List Price for Scottsdale Homes

Scottsdale homes median list price January 2020

Now we will move on to home prices. This is the median asking price for homes where half of the homes have higher list prices and the other half have lower list prices.

January’s median list price was $1,200,000. Last January, the median list price was $879K and last month it was just under $1.2 million.

Days on Market

Scottsdale homes Days on Market January 2020

Days on Market or DOM is a metric that shows us the relative health of a housing market. Low DOM indicated homes are selling faster and a high DOM means homes are lingering on the market.

January’s DOM was 81 days and is a bit of drop from last year’s 95 days. With our lower local inventory and higher demand, things are selling faster.

Median Sales Price for Scottsdale Homes

Scottsdale homes median sale price January 2020

Just like the median list price, the median sales price is the midpoint of all of the prices.

In January, the median sales price was $655,000. This is above January 2019’s $600,000 and is also higher than December 2019’s $618,000.

Number of Homes Sold

This last section looks at home sales year-over-year and month-over-month.

Scottsadale home sales January 2020

Sales were up slightly by 2% between January 2019 and 2020.

Scottsdale homes sold January 2020

We saw a 29% drop in sales between December and January. This is not surprising as many people are not shopping for homes over the holidays and fewer contracts were signed in December,

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.

 

 

Take Advantage of Your Home Equity: A Homeowner’s Guide

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A Homeowner's Guide to Home Equity

Homeownership offers many advantages over renting, including a stable living environment, predictable monthly payments, and the freedom to make modifications. Neighborhoods with high rates of homeownership tend to have less crime and more civic engagement. Additionally, studies show that homeowners are happier and healthier than renters, and their children do better in school.1

But one of the biggest perks of homeownership is the opportunity to build wealth over time. Researchers at the Urban Institute found that homeownership is financially beneficial for most families,2 and a recent study showed that the median net worth of homeowners can be up to 80 times greater than that of renters in some areas.3

So how does purchasing a home help you build wealth? And what steps should you take to maximize the potential of your investment? Find out how to harness the power of home equity for a secure financial future.

WHAT IS HOME EQUITY?

Home equity is the difference between what your home is worth and the amount you owe on your mortgage. So, for example, if your home would currently sell for $250,000, and the remaining balance on your mortgage is $200,000, then you have $50,000 in home equity.

$250,000 (Home’s Market Value)
–           $200,000 (Mortgage Balance)
______________________________
$50,000 (Home Equity)

The equity in your home is considered a non-liquid asset. It’s your money; but rather than sitting in a bank account, it’s providing you with a place to live. And when you factor in the potential of appreciation, an investment in real estate will likely offer a better return than any savings account available today.

HOW DOES HOME EQUITY BUILD WEALTH?

A mortgage payment is a type of “forced savings” for home buyers. When you make a mortgage payment each month, a portion of the money goes towards interest on your loan, and the remaining part goes towards paying off your principal, or loan balance. That means the amount of money you owe the bank is reduced every month. As your loan balance goes down, your home equity goes up.

Additionally, unlike other assets that you borrow money to purchase, the value of your home generally increases, or appreciates, over time. For example, when you pay off your car loan after five or seven years, you will own it outright. But if you try to sell it, the car will be worth much less than when you bought it. However, when you purchase a home, its value typically rises over time. So when you sell it, not only will you have grown your equity through your monthly mortgage payments, but in most cases, your home’s market value will be higher than what you originally paid. And even if you only put down 10% at the time of purchase—or pay off just a small portion of your mortgage—you get to keep 100% of the property’s appreciated value. That’s the wealth-building power of real estate.

WHAT CAN I DO TO GROW MY HOME’S EQUITY FASTER?

Now that you understand the benefits of building equity, you may wonder how you can speed up your rate of growth. There are two basic ways to increase the equity in your home:

  • Pay down your mortgage.

We shared earlier that your home’s equity goes up as your mortgage balance goes down. So paying down your mortgage is one way to increase the equity in your home.

Some homeowners do this by adding a little extra to their payment each month, making one additional mortgage payment per year, or making a lump-sum payment when extra money becomes available—like an annual bonus, gift, or inheritance.

Before making any extra payments, however, be sure to check with your mortgage lender about the specific terms of your loan. Some mortgages have prepayment penalties. And it’s important to ensure that if you do make additional payments, the money will be applied to your loan principal.

Another option to pay off your mortgage faster is to decrease your amortization period. For example, if you can afford the larger monthly payments, you might consider refinancing from a 30-year or 25-year mortgage to a 15-year mortgage. Not only will you grow your home equity faster, but you could also save a bundle in interest over the life of your loan.

  • Raise your home’s market value.

Boosting the market value of your property is another way to grow your home equity. While many factors that contribute to your property’s appreciation are out of your control (e.g. demographic trends or the strength of the economy) there are things you can do to increase what it’s worth.

For example, many homeowners enjoy do-it-yourself projects that can add value at a relatively low cost. Others choose to invest in larger, strategic upgrades. Keep in mind, you won’t necessarily get back every dollar you invest in your home. In fact, according to Remodeling Magazine’s latest Cost vs. Value Report, the remodeling project with the highest return on investment is a garage door replacement, which costs about $3600 and is expected to recoup 97.5% at resale. In contrast, an upscale kitchen remodel—which can cost around $130,000—averages less than a 60% return on investment.4

Of course, keeping up with routine maintenance is the most important thing you can do to protect your property’s value. Neglecting to maintain your home’s structure and systems could have a negative impact on its value—therefore reducing your home equity. So be sure to stay on top of recommended maintenance and repairs.

HOW DO I ACCESS MY HOME EQUITY IF I NEED IT?

When you put your money into a checking or savings account, it’s easy to make a withdrawal when needed. However, tapping into your home equity is a little more complicated.

The primary way homeowners access their equity is by selling their home. Many sellers will use their equity as a down payment on a new home. Or some homeowners may choose to downsize and use the equity to supplement their income or retirement savings.

But what if you want to access the equity in your home while you’re still living in it? Maybe you want to finance a home renovation, consolidate debt, or pay for college. To do that, you will need to take out a loan using your home equity as collateral.

There are several ways to borrow against your home equity, depending on your needs and qualifications:5

  • Second Mortgage – A second mortgage, also known as a home equity loan, is structured similarly to a primary mortgage. You borrow a lump-sum amount, which you are responsible for paying back—with interest—over a set period of time. Most second mortgages have a fixed interest rate and provide the borrower with a predictable monthly payment. Keep in mind, if you take out a home equity loan, you will be making monthly payments on both your primary and secondary mortgages, so budget accordingly.
  • Cash-Out Refinance – With a cash-out refinance, you refinance your primary mortgage for a higher amount than you currently owe. Then you pay off your original mortgage and keep the difference as cash. This option may be preferable to a second mortgage if you have a high interest rate on your current mortgage or prefer to make just one payment per month.
  • Home Equity Line of Credit (HELOC) – A home equity line of credit, or HELOC, is a revolving line of credit, similar to a credit card. It allows you to draw out money as you need it instead of taking out a lump sum all at once. A HELOC may come with a checkbook or debit card to enable easy access to funds. You will only need to make payments on the amount of money that has been drawn. Similar to a credit card, the interest rate on a HELOC is variable, so your payment each month could change depending on how much you borrow and how interest rates fluctuate.
  • Reverse Mortgage – A reverse mortgage enables qualifying seniors to borrow against the equity in their home to supplement their retirement funds. In most cases, the loan (plus interest) doesn’t need to be repaid until the homeowners sell, move, or are deceased.6

Tapping into your home equity may be a good option for some homeowners, but it’s important to do your research first. In some cases, another type of loan or financing method may offer a lower interest rate or better terms to fit your needs. And it’s important to remember that defaulting on a home equity loan could result in foreclosure. Ask us for a referral to a lender or financial adviser to find out if a home equity loan is right for you.

WE’RE HERE TO HELP YOU

Wherever you are in the equity-growing process, we can help. We work with buyers to find the perfect home to begin their wealth-building journey. We also offer free assistance to existing homeowners who want to know their home’s current market value to refinance or secure a home equity loan. And when you’re ready to sell, we can help you get top dollar to maximize your equity stake. Contact us today to schedule a complimentary consultation!

 

The above references an opinion and is for informational purposes only. It is not intended to be financial advice. Consult a financial professional for advice regarding your individual needs.

 

Sources:

  1. National Association of Realtors –
    https://www.nar.realtor/blogs/economists-outlook/highlights-from-social-benefits-of-homeownership-and-stable-housing
  2. Urban Institute –
    https://www.urban.org/urban-wire/homeownership-still-financially-better-renting
  3. Census Bureau –
    https://www.census.gov/library/stories/2019/08/gaps-in-wealth-americans-by-household-type.html
  4. Remodeling Magazine –
    https://www.remodeling.hw.net/cost-vs-value/2019/
  5. Investopedia –
    https://www.investopedia.com/mortgage/heloc/home-equity/
  6. Bankrate –
    https://www.bankrate.com/mortgage/reverse-mortgage-guide/

 

 

 

Photo by aag_photos

Photo by aag_photos

Scottsdale AZ Single Family Home Sales – January 2020

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– January 2020 Scottsdale Homes for Sale and Home Sales –

January is typically a slow sales month as people do not tend to shop for homes over the holidays and this January fits that pattern. However, we saw a nice uptick in pending contracts over the course of the month.

SCOTTSDALE HOME SALES ACTIVITY – JANUARY 2020

We look at these four sales metrics on a monthly basis:

– Single-family homes for sale – Orange Line –  The number of homes on the market at the end of the month.*
– Under contract, but accepting backup offers (UCB) – Gray Line – The number of homes in UCB status at the end of the month.*
– Pending home sales – Yellow Line – How many pending sales there were at the end of the month.*
– Home Sales – Blue Line –  The number of homes that closed during the month.

JANUARY 2020 RESULTS

Scottsdale Home Sales January 2020

  • Scottsdale Homes for Sale: The number of homes for sale was down slightly at the end of January. Usually, we see this number increase as people wait until the beginning of the year to put their homes onto the market. Plus, new inventory could have been absorbed by the increase in UCBs and Pendings.
  • UCB (Under contract, accepting backup offers): The number of UCBs jumped an impressive 63.4% between the end of December and the end of January to close out at 299.
  • Pending Homes Sales in Scottsdale: We also saw an increase in pending sales in January, which bodes well for February sales figures.
  • Scottsdale Home Sales: As expected, sales fell in December. There were 326 sales and the monthly average over the past year was 452 sales per month.

In this next section, we have included two more metrics we use to track the Scottsdale real estate market.

Scottsdale real estate market January 2020

The first metric is Percent Change Month Over Month, which compares performance between the two months. For example, the number of pending sales was up 27.1% between December and January.

The second metric is Sales Price to List Price. Here, we are looking at what homes sold for versus what they had been on the market for. In January, it came in at 96.8%. So on average, buyers saw a discount of 3.2% off of asking prices in January.

 

*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 1/1/2020. 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

Things to Do in Scottsdale – February 2020

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Scottsdale Events – February 2020

Even though February is a short month (with a bonus Leap Year day this year!), it is jam-packed with events and things to do in Scottsdale and around the Valley.

Spring Training 2020

Without further ado, here are some hand-picked events that are coming up:

  • Old Town Scottsdale Western Week – February 1st – 8th – This week of Western fun is a definite must-do. There will be events all week leading into the 62nd Annual arrival of the Hash Knife Pony Express! Then, the Parada del Sol Parade and festival will take place on the 8th.
  • Street Eats Food Truck Fest – February 8th – 9th – Fifty-five food trucks will be onsite at Salt River Fields offering a vast array of foods! $2 tastes, drinks, music and more!
  • Arizona Renaissance Festival – February 8th – March 29th – Huzzah! 30 acres, 2,000 costumed actors and 14 stages of entertainment, arts, shopping, food and more. Immerse yourself in the medieval times on weekends in February and March. Jousts and turkey legs, anyone?
  • Scottsdale Arabian Horse Show at WestWorld – February 13th – 23rd – Marvel at the beauty of these Arabian horses over the course of this annual show. Meet an Arabian up close and personal, tour the barns, watch the Scottsdale Mounted Police do a demo, enjoy ice cream and so much more. Check the link for an event schedule.

  • Cirque di Soliel’s Ovo – February 20th – 23rd – This Cirque production features acrobatic insects and lots of amazing acrobatics and thrills. It is a short run at the Talking Stick Arena, so be sure to get your tickets.
  • Design for Dogs – February 21st – Do you adore your pup? Come support the Arizona Animal Welfare League and bid on custom-built, professionally-designed luxury dog houses while enjoying light bites and drinks. Adoptable dogs will be onsite!
  • Devour Culinary Classic at the Desert Botanical Garden – February 22nd – 23rd – This delicious event is back for its eleventh year. Cuisines from all over the globe will be featured and you can enjoy the natural desert beauty around you.
  • Spring Training – February 22nd – March 24th – Spring Training is almost here! Come see your favorite MLB players and teams compete in locations around the Valley. Enjoy sunny afternoons and some great baseball!
  • Celebrity Game Night sponsored by Kurt and Brenda Warner – February 22nd – This amazing fundraiser at Scottsdale Hangar One is sure to be fun! Play games alongside celebrities and athletes as you raise money for Treasurehouse Phoenix.
  • Arizona Fine Art Expo – Now through March 22nd – This year, 124 artists will bring their studios to the Expo and will create over the course of two months. Come and meet the artists and explore their works – perhaps you will find the perfect piece for your home!
  • Celebration of Fine Art – Now through March 29th – This other high-profile art event is back for its 30th year. Located at the 101 and Hayden, come see artists create via a large range of mediums and pick your favorites.

Scottsdale AZ Luxury Home Market – December 2019

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– Scottsdale Luxury Home Market Performance for December 2019 –

The luxury home market in Scottsdale closed out the year with a fantastic performance. Sales were outstanding in most price points.

This luxury market report covers homes with values in excess of $1 million. To show more detail, these homes have been split into four price points.

Each month, we look at the following sales activities:
Active – How many homes were for sale at the end of the month.
UCB (Under Contract Accepting Backup Offers) – How many homes were under contract, but still accepting backup offers at the end of the month.
Pending – How many pending sales there were at the end of the month.
Sold – The number of homes sold each month.


– DECEMBER 2019 –

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

Scottsdale Homes for Sale between $1 and $1.5 million December 2019

– Active Scottsdale Homes on the Market: Inventory was down slightly at the end of the year as sales ramped up and listings expired.
– UCB Scottsdale Home Sales: The number of UCB contracts was down to 21. This is not surprising due to the holidays,
– Pending Scottsdale Home Sales: Pending sales also fell in December to 29 for the same reason.
– Scottsdale Homes Sold: Sales jumped 28.3% between November and December, after a 39.4% jump between October and November. December had the most sales of the past 12 months
– Sales Price to Listed Price: 95.7% – On average buyers saw a discount off of list price of 4.3%.

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

Scottsdale Homes for Sale between $1.5 and $2 million December 2019

– Active Scottsdale Homes on the Market: The number of homes for sale fell 8.8% to close out the month with 166 homes.
– UCB Scottsdale Home Sales: UCBs fell to thirteen, about where they were this same time last year.
– Pending Scottsdale Home Sales: Pending sales were actually up in this price point. At the end of December, there were 17 pendings.
– Scottsdale Homes Sold: Twenty-two homes closed. This is ahead of the 12 month average.
– Sales Price to Listed Price: 95.1% – On average, buyers saw a discount off of list price of 4.9%.

 

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

Scottsdale Homes for Sale between $2 and $3 million December 2019

– Active Scottsdale Homes on the Market: Inventory was pretty level and only fell by a few homes.
– UCB Scottsdale Home Sales: UCB contracts closed out the month at seven. This is slightly lower and is below the 12 month average.
– Pending Scottsdale Home Sales: The number of pending sales stayed level between November and December.
– Scottsdale Homes Sold: Home sales fell almost by half after an incredibly strong November. This is the only price point where sales dipped in December.
– Sales Price to Listed Price: 95.4% – On average, buyers saw a discount off of list price of 4.6%.

 

Scottsdale Homes Priced $3,000,000+

Scottsdale Homes for Sale over $3 million December 2019

– Active Scottsdale Homes on the Market: The number of homes for sale over $3 million remained level.
– UCB Scottsdale Home Sales: The number of UCB contracts doubled after coming in at four for the past three months.
– Pending Scottsdale Home Sales: Pending contracts were down by two at the end of December.
– Scottsdale Homes Sold:  Nine homes sold in December, making it one of the top sales months of the year.
– Sales Price to Listed Price: 93.4% – On average, buyers saw a discount off of list price of 6.6%.

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 1/1/2020 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

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