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Quick Video Update of the Scottsdale Real Estate Market – April 2018

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– April 2018 Scottsdale Housing Market Video –

April 2018 – Video

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

Scottsdale Active Listings

This first image shows Scottsdale’s housing inventory in April 2018 compared to the same time in 2017.

There was a 17% decrease in the number of homes for sale from the previous year.

 

 

 

This next image looks at the number of homes for sale in March 2018 compared with April.

There was a 5% decrease in home inventory between the two months.

 

 

 

Median List Price for Scottsdale Homes

The median price is the exact center of prices, where half of the homes are priced higher and half of the homes are priced lower.

April’s median list price was $924,000.  This is up quite a bit from April 2017’s median list price of $849,700.

 

 

 

Days on Market

Days on Market (also referred to as DOM) is a measurement that is used to get a quick sense of how the housing market is performing. A high DOM indicates a more sluggish market and a low DOM indicates things are selling quickly.

April 2018’s DOM was 105. This is a 15% decrease in DOM from April  2017.

 

 

Median Sales Price for Scottsdale Homes

Here is a median price again, but this time it is for homes that have sold.

Scottsdale’s median home sales price in April was over $576,000. This is up over April 2017’s $535,000 and down very slightly from March 2018’s $580,000.

 

 

 

Number of Homes Sold

Now we will take a look at home sales activity in Scottsdale.

Sales were up a healthy  11% between April 2017 and April 2018.

 

 

 

Looking at it from a month-to-month perspective, sales were down 1% in April compared to March.

 

 

 

 

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

 

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

Scottsdale AZ Single Family Home Sales – April 2018

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– April 2018 Scottsdale Homes for Sale and Home Sales –

Here is an overview of the Scottsdale real estate market during the month of April 2018.

SCOTTSDALE HOME SALES ACTIVITY – APRIL 2018

The image below shows the past year of data for four sales metrics we are tracking. These four metrics are:

– Single-family homes for sale – How many homes were for sale is shown with the orange line.*
– Under contract, but accepting backup offers (UCB) – How many homes were in UCB status are shown with the grey line.*
– Pending home sales – How many homes were pending sales are shown on the yellow line.*
– Home Sales – How many homes sold is shown with the blue line.

APRIL 2018 RESULTS

  • Scottsdale Homes for Sale: Due to strong sales activity and not a lot of new inventory, the number of homes for sale was down a little over 3% at the end of April.
  • UCB (Under contract, accepting backup offers): Homes in UCB status were up almost 16% between the end of March and April.
  • Pending Homes Sales in Scottsdale: Pending sales fell slightly to end the month at 340.
  • Scottsdale Home Sales: Sales were up by 10 homes in April, staying in the 500+ range.

This next section covers two more sales metrics we track on a monthly basis.

The first section shows how the items we are tracking change from month-to-month. For instance, Scottsdale home sales were up 1.9% between the end of March and the end of April.

The second section is looking at home prices and shows you what homes are selling for on average with respect to the prices they are on the market for. In April, on average, homes sold for 96.3% of their list prices. Or, if you are looking at it from a buyer’s perspective, buyer’s received an average of 3.7% off of asking prices.

April’s sales continued their strong activity and based on UCB/pending figures, May should be a great month as well.

*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.

Disclaimer: Data and information were pulled from the Arizona Regional MLS (ARMLS) as of 5/1/2018. 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 © 2018 Heather Tawes Nelson | Joyce Tawes

Where to Eat in Scottsdale: Sassi’s Final Month

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– Sassi Scottsdale –

It is the end of an era in North Scottsdale…

Sassi, a perennial favorite and one of the most beautifully-designed restaurants in Scottsdale will be closing due to the sale of the land it sits on. The final dinner services open to the public will take place at the end of May 2018.

Sassi is known for its authentic, traditional and delicious Italian food and handmade pasta. Chef Chris Nicosia has been at the helm for many, many years and he and his team are still putting out the same high quality and tasty meals as they head into the final month of service.

The current menu has been pared down, but features the most popular and beloved dishes over the years. Some of our favorite starters include the Fiori di Zucca, which are squash blossoms that have been stuffed with a ricotta mixture and lightly fried, as well as the Wood Grilled Octopus that comes with lentils, chiles, olives and grilled lemon.

You cannot go wrong with any of the pastas, which are made in-house. My personal favorite is the Linguine with Manila Clams, but my mother is a big fan of the Ricotta Gnocchi with Peas.

On the entree offerings, the Branzino in a Roasted Tomato Broth is outstanding. My father’s all-time favorite, however, is the Wood Grilled Veal Chop with a porcini mushroom rub. He said it is the best veal chop he has ever had.

We are so sad to see such a wonderful restaurant go. It has been the source of dozens of memory-making meals with our families and friends and has hosted countless weddings and events on its patio with incredible valley views.

If you would like to dine at Sassi one final time, (or more!), they are still taking reservations. You can call the restaurant directly or book via Open Table. I would recommend booking sooner rather than later as they will start to fill up in the final weeks.

Sassi – Thanks for so many years of great food and memories! You will be missed!

More Information:
Sassi
10455 E. Pinnacle Peak Parkway
Scottsdale, AZ 85255
(480) 502-9095
Website

 

 

Scottsdale AZ Luxury Home Market – March 2018

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– Scottsdale AZ Luxury Home Market Performance for March 2018 –

Here is the most recent report for the Scottsdale luxury home market. I have included all of the homes priced at $1 million or more and have further broken down the information into price segments. Each segment contains the past 12 months of data.

You will see a year’s worth of data on the following items:
Active – How many homes were for sale at the end of the month.
UCB (Under Contract Accepting Backup Offers) – How many homes that 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 during the month.


– MARCH 2018 –

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

– Active Scottsdale Homes on the Market:  The number of homes for sale declined by 2.6% between February and March. Most likely due to strong sales volume.
– UCB Scottsdale Home Sales: UCBs were up to 41, well ahead of the 12 month average of 29.
– Pending Scottsdale Home Sales: Pending sales were up 23.7% over last month to 47.
– Scottsdale Homes Sold: An incredible 56 homes sold in March in this price range, a 55.6% increase over February.
– Sales Price to Listed Price: 95.0% – On average, buyers saw a discount off of list price of 5%

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

– Active Scottsdale Homes on the Market: Inventory was up almost 8% to 247 homes.
– UCB Scottsdale Home Sales: UCB contracts were up to fourteen at the end of March, the second highest this has been in the past year.
– Pending Scottsdale Home Sales: Pending sales were also up in March, closing out the month with fifteen.
– Scottsdale Homes Sold: There were eighteen home sales last month, the third highest volume in the past year.
– Sales Price to Listed Price: 95.5% – On average, buyers saw a discount off of list price of 4.5%.

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

– Active Scottsdale Homes on the Market: This price range ended the month with 207 homes for sale, the highest it has been for the last year.
– UCB Scottsdale Home Sales: UCB’s ended the month at eight, ahead of the 12 month average.
– Pending Scottsdale Home Sales: Pending sales fell to thirteen in March, the second highest this figure has been in the past year.
– Scottsdale Homes Sold:  There were fourteen home sales. This was the best performance in a year.
– Sales Price to Listed Price: 91.4% – On average, buyers saw a discount off of list price of 8.6%.

Scottsdale Homes Priced $3,000,000+

– Active Scottsdale Homes on the Market: Inventory was down slightly to 154 homes for sale.
– UCB Scottsdale Home Sales: UCB sales stayed level at four.
– Pending Scottsdale Home Sales: Pending contracts closed out the month at seven which is a strong showing.
– Scottsdale Homes Sold: There were five home sales in March. This is not quite to the level we saw last year at this time, but it is still better than last month.
– Sales Price to Listed Price: 79.8% – On average, buyers saw a discount off of list price of 20.2%.

March ended up being another strong sales month for the Scottsdale luxury home market, especially in the lower price points.

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 4/1/2018 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 ©2018 Heather Tawes Nelson | Joyce Tawes

HOUSE CARE CALENDAR:  A Seasonal Guide to Maintaining Your Home

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SEASONAL HOME CARE CHECKLIST

Below is a handy checklist that outlines things you might want to take care of around the home on a seasonal basis. While many of these – especially the winter tips! – do not apply to Scottsdale or Arizona per se, we have so many folks from elsewhere who call Scottsdale a part-time home, I figured that I would leave them in. 

 

 

 

 

 

 

 

 

 

 

From summer vacations to winter holidays, it seems each season offers the perfect excuse to put off our to-do list. But be careful, homeowners: neglecting your home’s maintenance could put your personal safety—and one of your largest financial investments—at serious risk.

In no time at all, small problems can lead to extensive and expensive repairs. And even if you avoid a catastrophe, those minor issues can still have a big impact. Properties that are not well maintained can lose 10 percent (or more) of their appraised value.1

The good news is, by dedicating a few hours each season to properly maintaining your home, you can ensure a safe living environment for you and your family … and actually increase the value of your home by one percent annually!1 You just need to know where and how to spend your time.

Use the following checklist as a guide to maintaining your home and lawn throughout the year. It’s applicable for all climates, so please share it with friends and family members who you think could benefit, no matter where their home is located.

Spring

After a long, cold winter, many of us look forward to a fresh start in the spring. Wash away the winter grime, open the windows, and prepare your home for warmer weather and backyard barbecues.

Inside

  • Conduct Annual Spring Cleaning
    Be sure to tackle those areas that may have gone neglected—such as your blinds, baseboards and fan blades—as well as appliances, including your refrigerator, dishwasher, oven and range hood. Clear out clutter and clothes you no longer wear, and toss old and expired food and medications.
  • Shut Down Heating System
    Depending on the type of heating system you have, you may need to shut your system down when not in use. Check the manufacturer’s instructions for proper procedures.
  • Tune Up A/C
    This one is especially important in Arizona. If your home has central air conditioning, schedule an annual tune-up with your HVAC technician to make sure everything is working. If you have a portable or window unit, be sure to follow the manufacturer’s instructions for proper maintenance.2
  • Check Plumbing
    It’s a good idea to periodically check your plumbing to spot any leaks or maintenance issues. Look for evidence of leaks—such as water stains on the ceiling—and check for dripping faucets or running toilets that need to be addressed. Inspect your hot water heater for sediment build up. Check your sump pump (if you have one) to ensure it’s working properly.3
  • Inspect Smoke Alarm and Carbon Monoxide Detectors
    Check that your smoke and carbon monoxide detectors are functioning properly. Batteries should be replaced every six months, so change them now and again in the fall. Follow the manufacturer’s instructions to test your individual devices. And even properly functioning devices should be replaced at least every 10 years, or per the manufacturer’s recommendation.4

Outside

  • Inspect Perimeter of Home
    Walk around your house and look for any signs of damage or wear and tear that should be addressed. Are there cracks in the foundation? Peeling paint? Loose or missing roof shingles or tiles? Make a plan to make needed repairs yourself or hire a contractor.
  • Clean Home’s Exterior
    Wash windows and clean and replace screens if they were removed during the winter months. For the home’s facade, it’s generally advisable to use the gentlest method that is effective. A simple garden hose will work in most cases.5
  • Clean Gutters and Downspouts
    Gutters and downspouts should be cleaned at least twice a year. Neglected gutters can cause water damage to a home, so make sure yours are clean and free of debris. If your gutters have screens, you may be able to decrease the frequency of cleanings, but they should still be checked periodically.6
  • Rake Leaves
    Gently rake your lawn to remove leaves and debris. Too many leaves can cause an excessive layer of thatch, which can damage the roots of your lawn. They can also harbor disease-causing organisms and insects.7 However, take care because overly vigorous raking can damage new grass shoots.
  • Seed or Sod Lawn
    If you have bare spots, spring is a good time to seed or lay new sod so you can enjoy a beautiful lawn throughout the remainder of the year. The peak summer heat can be too harsh for a new lawn. If you miss this window, early fall is another good time to plant.8
  • Apply a Pre-Emergent Herbicide
    While a healthy lawn is the best deterrent for weeds, some homeowners choose to use a pre-emergent herbicide in the spring to minimize weeds. When applied at the right time, it can be effective in preventing weeds from germinating. However, a pre-emergent herbicide will also prevent grass seeds from germinating, so only use it if you don’t plan to seed or sod in the spring.
  • Plant Flowers
    After a long winter, planting annuals and spring perennials is a great way to brighten up your garden. It’s also a good time to prune existing flowers and shrubs and remove and compost any dead plants
  • Mulch Beds
    A layer of fresh mulch helps to suppress weeds, retain moisture and moderate soil temperature. However, be sure to strip away old mulch at least every three years to prevent excessive buildup.9
  • Fertilize Lawn
    Depending on your grass type, an application of fertilizer in the spring may help promote new leaf and root growth, keep your lawn healthy, and reduce weeds.10
  • Tune Up Lawn Mower
    Send your lawn mower out for a professional tune-up and to have the blades sharpened before the mowing season starts.11
  • Inspect Sprinkler System
    If you have a sprinkler system, check that it’s working properly and make repairs as needed.
  • Check the Deck
    If you have a deck or patio, inspect it for signs of damage or deterioration that may have occurred over the winter. Then clean it thoroughly and apply a fresh coat of stain if needed.
  • Prepare Pool
    If you own a pool, warmer weather signals the start of pool season. Be sure to follow best practices for your particular pool to ensure proper maintenance and safety.

 

Summer

Summer is generally the time to relax and enjoy your home, but in Scottsdale and the surrounding areas, it is quite warm. A little time devoted to maintenance will help ensure it looks great and runs efficiently throughout the season. 

Inside

  • Adjust Ceiling Fans
    Make sure they are set to run counter-clockwise in the summer to push air down and create a cooling breeze. Utilizing fans instead of your air conditioner, when possible, will help minimize your utility bills.
  • Clean A/C Filters
    Be sure to clean or replace your filters monthly, particularly if you’re running your air conditioner often.
  • Clear Dryer Vent
    Help cut down on summer utility bills by cleaning your laundry dryer vent at least once a year. Not only will it help cut down on drying times, a neglected dryer poses a serious fire hazard.
  • Check Weather Stripping
    If you’re running your air conditioner in the summer, you’ll want to keep the cold air inside and hot air outside. Check weather stripping around doors and windows to ensure a good seal.

Outside

  • Mow Lawn Regularly
    Your lawn will probably need regular mowing in the summer. Adjust your mower height to the highest setting, as taller grass helps shade the soil to prevent drought and weeds.
  • Water Early in the Morning
    Ensure your lawn and garden get plenty of water during the hot summer months. Experts generally recommend watering in the early morning to minimize evaporation, but be mindful of any watering restrictions in your area, which may limit the time and/or days you are allowed to water.
  • Weed Weekly
    To prevent weeds from taking over your garden and ruining your home’s valuable curb appeal, make a habit of pulling weeds at least once per week.
  • Exterminate Pests
    Remove any standing water and piles of leaves and debris. Inspect your lawn and perimeter of your home for signs of an invasion. If necessary, call a professional exterminator for assistance.

 

Fall

Fall ushers in another busy season of home maintenance as you prepare your home for the cooler weather ahead.

Inside

  • Have Heater Serviced
    To ensure safety and efficiency, it’s a good idea to have your heating system serviced and inspected before you run it for the first time.
  • Shut Down A/C for the Winter
    If you have central air conditioning, you can have it serviced at the same time as your furnace. If you have a portable or window unit, ensure it’s properly sealed or remove it and store it for the winter.
  • Inspect Chimney
    Fire safety experts recommend that you have your chimney inspected annually and cleaned periodically. Complete this task before you start using your fireplace or furnace.
  • Seal Windows and Doors
    Check windows and doors for drafts and caulk or add weatherstripping where necessary.
  • Check Smoke Alarm and Carbon Monoxide Detectors
    If you checked your smoke and carbon monoxide detectors in the spring, they are due for another inspection. Batteries should be replaced every six months, so it’s time to replace them again. Follow the manufacturer’s instructions to test your individual devices. And even properly functioning devices should be replaced at least every 10 years, or per the manufacturer’s recommendation.3

Outside

  • Plant Fall Flowers, Grass and Shrubs
    Fall is a great time to plant perennials, trees, shrubs, cool-season vegetables and bulbs that will bloom in the spring.12 It’s also a good time to reseed or sod your lawn.
  • Rake or Mow Leaves
    Once the leaves start falling, it’s time to pull out your rake. A thick layer of leaves left on your grass can lead to an unhealthy lawn. Or, rather than raking, use a mulching mower to create a natural fertilizer for your lawn.
  • Apply Fall Fertilizer
    If you choose not to use a mulching mower, a fall fertilizer is usually recommended. For best results, aerate your lawn before applying the fertilizer.13
  • Inspect Gutters and Roof
    Inspect your gutters and downspouts and make needed repairs. Check the roof for any broken or loose tiles. Remove fallen leaves and debris.
  • Shut Down Sprinkler System
    If you have a sprinkler system, drain any remaining water and shut it down to prevent damage from freezing temperatures over the winter.
  • Close Pool
    If you have a pool, it’s time to clean and close it up before the winter. Although in Scottsdale and Arizona, many people swim yearround.

 

Winter

While it can be tempting to ignore home maintenance issues in the winter, snow and freezing temperatures can do major damage if left untreated. Follow these steps to ensure your house survives the winter months.

Inside

  • Maintain Heating System
    Check and change filters on your heating system, per the manufacturer’s instructions. If you have a boiler, monitor the water level.
  • Tune Up Generator
    If you own a portable generator, follow the manufacturer’s instructions for proper maintenance. Make sure it’s working before you need it, and stock up on supplies like fuel, oil and filters.
  • Prevent Frozen Pipes
    Make sure pipes are well insulated, and keep your heat set to a minimum of 55 degrees when you’re away. If pipes are prone to freezing, leave faucets dripping slightly overnight or when away from home. You may also want to open cabinet doors beneath sinks to let in heat.

Outside

  • Drain and Shut Off Outdoor Faucets
    Before the first freeze, drain and shut off outdoor faucets. Place an insulated cover over exposed faucets, and store hoses for the winter.
  • Remove Window Screens
    Removing screens from your windows allows more light in to brighten and warm your home during the dark, cold winter months. Snow can also get trapped between screens and windows, causing damage to window frames and sills.
  • Service Snowblower
    Don’t wait until the first snowstorm of the season to make sure your snowblower is in good working order. Check the manufacturer’s instructions for maintenance or have it serviced by a professional.
  • Stock Up on Ice Melt
    Keep plenty of ice melt, or rock salt, on hand in preparation for winter weather. Look for brands that will keep kids and pets safe without doing damage to your walkway or yard.
  • Watch Out for Ice Dams
    Ice dams are thick ridges of solid ice that can build up along the eaves of your house. They can do major damage to gutters, shingles and siding. Heated cables installed prior to the first winter storm can help.14  Although this is not an issue in the Phoenix area, homes in Northern Arizona where they get snow have had issues.
  • Check for Snow Buildup on Trees
    Snow can cause tree limbs to break, which can be especially dangerous if they are near your home. Use a broom to periodically remove excess snow.15

 

While this checklist should not be considered a complete list of your home’s maintenance needs, it can serve as a general seasonal guide. Systems, structures and fixtures will need to be repaired and replaced from time-to-time, as well. The good news is, the investment you make in maintaining your home now will pay off dividends over time.

Keep a record of all your maintenance, repairs and upgrades for future reference, along with receipts. Not only will it help jog your memory, it can make a big impact on buyers when it comes time to sell your home … and potentially result in a higher selling price.

Are you looking for help with home maintenance or repairs? We have an extensive network of trusted contractors and service providers and are happy to provide referrals! Call or email us, and we can connect you with one of our preferred vendors.

 

Sources:

  1. com –
    https://www.houselogic.com/organize-maintain/home-maintenance-tips/value-home-maintenance/
  2. Home Advisor –
    https://www.homeadvisor.com/r/servicing-your-air-conditioner/
  3. Keyes & Sons Plumbing and Heating –
    https://keyes-plumbing.com/things-to-check-in-spring/
  4. Allstate Insurance Blog –
    https://blog.allstate.com/test-smoke-detectors/
  5. Houzz –
    https://www.houzz.com/ideabooks/17268616/list/how-to-wash-your-house
  6. Angie’s List –
    https://www.angieslist.com/articles/why-gutter-cleaning-so-important.htm
  7. Angie’s List –
    https://www.angieslist.com/articles/what-thatch-and-how-does-it-impact-my-lawn.htm
  8. HGTV –
    https://www.hgtv.com/design/outdoor-design/landscaping-and-hardscaping/lawns/top-spring-lawn-care-tips-pictures
  9. This Old House –
    https://www.thisoldhouse.com/more/may-mulching
  10. Lowes –
    https://www.lowes.com/projects/lawn-and-garden/fertilize-your-lawn/project
  11. The New York Times –
    https://www.nytimes.com/guides/realestate/home-maintenance-checklist
  12. Better Homes and Gardens Magazine –
    https://www.bhg.com/gardening/yard/garden-care/what-to-plant-in-the-fall/
  13. The Spruce –
    https://www.thespruce.com/late-fall-fertilizing-2152976
  14. This Old House –
    https://www.thisoldhouse.com/how-to/how-to-get-rid-ice-dams
  15. Houzz –
    https://www.houzz.com/ideabooks/55572864/list/your-winter-home-maintenance-checklist

 

Phoenix and Scottsdale AZ Luxury Condo Sales – March 2018

By

– Luxury Condo Sales in Scottsdale and Phoenix – March 2018 –

Here is the March 2018 report that covers luxury condo sales activity in Scottsdale and Phoenix. For the purposes of this report, I am including condos with list prices of $1 million or above.

ACTIVE LISTINGS AT THE END OF MARCH

At the end of March, there were fifty-six luxury condos on the market. Of them, thirty-four were located in Scottsdale and the remaining twenty-two were located in Phoenix.

Both the highest and lowest priced condos for sale are carryovers from previous months.

The highest priced condo was located in the Plaza Lofts at Kierland. It is a 4,059 square foot penthouse with three bedrooms and three and one-half bathrooms. It was on the market for $3,175,000.

The lowest priced condo was located in Optima Camelview. It is a 2,200 square foot unit with three bedrooms and two bathrooms. It was on the market for $1,049,000.

UCB* LUXURY CONDO SALES IN SCOTTSDALE AND PHOENIX

The month ended with two condos in UCB status. Both of the condos are located in Scottsdale and both have been in UCB status for a while.

  • The first condo was in Main Street Place, a new community in Old Town that is being built. This unit was listed for $1,265,000 and had two bedrooms, two and one-half bathrooms and 2,345 square feet.
  • The second condo was located in Safari Drive.  This penthouse unit was listed for $1,399,999 and had two bedrooms and two and one-half bathrooms.

*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

All of the pending sales at the end of March were located in Scottsdale. There were eight total.

Pending Condos in Scottsdale

    • Ones Main Street Place condo is still under construction. It was listed for $1,975,000 and had 3,563 square feet, three bedrooms and three and one-half bathrooms.
    • The Enclave at the Borgata had one of the pendings. The condo came with three bedrooms, three and one-half bathrooms and 3,016 square feet. It was on the market for $1,450,000.
    • Scottsdale Waterfront Residences had a single pending sale. This home was a two bedroom, two and one-half bathroom unit with 2,227 square feet. It was listed for $1,399,000.
    • Optima Kierland, is currently building out and had two pending sales from previous months,. The first was a three bed and bath home with 1,706 square feet. It was listed for $1,075,000. The second was a two bedroom, two and one-half bath unit with 2,283 square feet. It was listed got $1,653,000.
    • Optima Camelview had a new pending sale. Listed for $1,195,000, the condo had three bedrooms, two bathrooms and 2,090 square feet.
    • Plaza Lofts at Kierland  also had a pending sale. This 2,046 square foot home had two bedrooms and two and one-half bathrooms and was on the market for $1,450,000.
    • The final pending sale in March is in a brand new community and this is the first pending sale to make this report. ICON is a luxury condo community being developed in Silverleaf. This pending sale was for a three bedroom, three and one half bathroom home with 3,170 square feet. It was listed for $2,174,000.

LUXURY CONDO SALES IN SCOTTSDALE AND PHOENIX

There were four sales of luxury condos in March, with most of them coming from Scottsdale.

Scottsdale Luxury Condo Sales

  • Optima Kierland had a single sale. It was a two bedroom, two and one-half bathroom home with 2,162 square feet. It had been listed for $1,850,000 and sold for $1,780,000.
  • Scottsdale Waterfront Residences had a sale as well. It was a two bedroom and bathroom unit with 1,780 square feet. It had been on the market for $1,100,000 and sold for $1,060,000.
  • The final sale in March was in Optima Camelview. It was a three bedroom, three and one-half bathroom home with 3,233 square feet. The list price was $1,800,000 and it ultimately sold for $1,600,000.

Phoenix Luxury Condo Sales

  • This condo at Portland on the Park had two bedrooms, three bathrooms and 2,105 square feet. It had been listed for $1,250,000 and sold for list price.

 

Learn More About Phoenix and Scottsdale Luxury Condos

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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 4/1/2018 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 © 2018 Heather Tawes Nelson | Joyce Tawes

Quick Video Update of the Scottsdale Real Estate Market – March 2018

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– March 2018 Scottsdale Housing Market Video –

March 2018 – Video

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

Scottsdale Active Listings

This first snapshot looks at the number of homes for sale in March 2017 compared with March 2018.

The number of homes for sale was down 17% from the previous year.

 

 

 

This also is a look at for sale inventory, but it now is comparing February 2018 to March 2018.

The number of homes for sale was level over the two months.

 

 

 

Median List Price for Scottsdale Homes

The median list price is the exact middle price for all of the homes for sale.

In March, the median list price came in just under $950,000, a difference of $100,000+ between 2017 and 2018.

 

 

 

Days on Market

Days on Market (also shown as DOM) is a quick way to see if a market is hot or not. It captures the number of days it is taking homes to sell. If you see a low DOM, homes are selling more quickly. A high DOM means it is taking homes longer to sell.

March 2018’s DOM was 99. This is 1% higher than March 2017’s 98.

 

 

Median Sales Price for Scottsdale Homes

This next image is the median sales price. Here, half of the homes sold above and half sold below this price.

March’s median home sales price was $580,000. This is up over March 2017’s $525,000 and up quite a bit over February 2018’s $516,500.

 

 

Number of Homes Sold

This final section covers home sales activity.

Sales were down 1% between March 2017 and March 2018.

 

 

 

However, sales saw a huge 25% increase between February and March 2018.

 

 

 

 

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

 

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

Scottsdale AZ Single Family Home Sales – March 2018

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– March 2018 Scottsdale Homes for Sale and Home Sales –

Here is an overview of the Scottsdale real estate market during the month of March 2018.

SCOTTSDALE HOME SALES ACTIVITY – MARCH 2018

The graphic below shows the past 12 months of sales activity for single-family homes in Scottsdale. We are tracking four sales metrics:

– Single-family homes for sale – The number of homes on the market is shown with the orange line.*
– Under contract, but accepting backup offers (UCB) – UCBs are shown with the grey line.*
– Pending home sales – Pending home sales are shown on the yellow line.*
– Home Sales – The number of home that sold are shown with the blue line.

MARCH 2018 RESULTS

  • Scottsdale Homes for Sale: We saw a mild, 3.3% increase in for sale inventory between February and March.
  • UCB (Under contract, accepting backup offers): UCBs were up slightly to 337 by the end of the month.
  • Pending Homes Sales in Scottsdale: Pending sales were also up slightly and closed out the month at 356.
  • Scottsdale Home Sales: Sales shot up by over 23% between February and March. This is the first time sales have been back in the 500 range since last June.

The following section covers two more sets of statistics for the Scottsdale real estate market.

 

The top part looks at how each of the four things we are tracking performed relative to the prior month. For instance, the number of homes in UCB status was up 2.7% in March over February.

The lower part is a great way to get a quick feel for the market and pricing. It is called the Sales Price to List Price ration and compares average sales prices and what the homes had been on the market for. In March, it was 95.5%, so homes sold at an average of 95.5% of list price. Looking at this from the buyers’ perspective, buyers saw an average 4.5% discount off of list price in March.

March’s sales were excellent and because of the time of year, I anticipate another great month in April.

*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.

Disclaimer: Data and information were pulled from the Arizona Regional MLS (ARMLS) as of 4/1/2018. 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 © 2018 Heather Tawes Nelson | Joyce Tawes

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