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Phoenix and Scottsdale AZ Luxury Condo Sales – June 2017

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– Luxury Condo Sales in Scottsdale and Phoenix – June 2017 –

June was another strong sales month for the luxury condo market in Scottsdale and Phoenix.

For the purposes of this report, I am including condos for sale with asking prices of $1 million or more.

ACTIVE LISTINGS AT THE END OF JUNE

Inventory stayed more or less level with 45 luxury condos for sale at the end of the month. Of the 45, 28 condos were located in Scottsdale and the remaining 17 were in Phoenix.

The highest priced unit on the market was a carryover from May.  It was a Kierland Plaza Lofts unit with over 4,000 square feet. The asking price was $3,875,000.

The lowest priced luxury unit was in the Fairway Lodge community in the Biltmore. Listed for $1 million this unit had two bedrooms, two and one-half bathrooms and 2,704 square feet.

UCB* LUXURY CONDO SALES IN SCOTTSDALE AND PHOENIX

The same units that were UCB at the end of May remained in that status throughout June.

The first was located in Main Street Place. This unit had 3,563 square feet and was on the market for $1,975,000.

The second was located in Two Biltmore Estates in Phoenix. It was a three bedroom, three and one-half bathroom unit with 3,332 square feet. The asking price was $1,9998,000.

*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

As June wrapped up, there were four luxury condos in pending status and all of them were located in Scottsdale.

  • Three of the four are carryovers in Main Street Place. Main Street Place is under construction so they should remain in this status for the time being. Square footage for these condos was between 2,161 and 2,346. They were priced at $1,150,000 (4th floor),  $1,165,000 (3rd floor) and $1,975,000 (4th floor).
  • The last pending sale was also a carryover. This home was located the Landmark community. Listed at $1,479,000, it had 3,082 square feet, three bedrooms and two and one-half bathrooms.

LUXURY CONDO SALES IN SCOTTSDALE AND PHOENIX

Five luxury condos sold in June.

Scottsdale Luxury Condo Sales

  • All three of Scottsdale’s sales were in the same community, the Plaza Lofts at Kierland.
    • A two bedroom, two bathroom, 1,663 square foot unit sold for $980,000. It had been listed for $1,049,000.
    • A two bedroom, two and one-half bathroom, 2,090 square foot unit sold for $1,600,000. It had been listed for $1,675,000.
    • A two bedroom, two bathroom, 1,636 square foot unit sold for $1,180,000. It had been listed for $1,300,000.

Phoenix Luxury Condo Sales

  • Two Biltmore Estates had a single sale. This unit had four bedrooms, three and one-half bathrooms and 3,950 square feet. It was listed for $2,148,000 and sold for $2,150,000.
  • The Residences at 2211 Camelback was home to the second sale. It had three bedrooms, three and one-half bathrooms and was 4,000 square feet. It had been listed for $1,750,000 and sold for $1,550,000.

 

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 7/1/2017 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 maybe 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 © 2017 Heather Tawes Nelson | Joyce Tawes

Scottsdale AZ Single Family Home Sales – June 2017

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– June 2017 Scottsdale Homes for Sale and Home Sales –

June continued the strong pace of sales for yet another month. However, we are seeing activity slow a bit as we move into the slower season.

SCOTTSDALE HOME SALES ACTIVITY – JUNE 2017

The chart below shows the past year of sales activity for single-family homes in Scottsdale. There are four things we are tracking:

– Single-family homes for sale are depicted with the red line.*
– Under contract, but accepting backup offers (UCB) are depicted with the green line.*
– Pending home sales are depicted with the purple line.*
– Home Sales are depicted with the blue line.

JUNE 2017 RESULTS

  • Scottsdale Homes for Sale: The number of homes for sale was down almost 11% compared to the end of May. This is due to strong sales and a number of homes being taken off of the market for the summer.
  • UCB (Under contract, accepting backup offers): UCB contracts dropped to 279 at the end of June. This is the lowest we have seen in the past six months and comes with the seasonal slowdown.
  • Pending Homes Sales in Scottsdale: Pending home sales came in at 300, a 17.8% decrease over May. Again, this is based on seasonality.
  • Scottsdale Home Sales: Home sales were very strong again in June. We closed out the month with 533 sales, the second highest sales volume in the past 12 months.

Now we will take a look at two more things we like to track related to the Scottsdale housing market.

The chart on top takes a look at sales performance on a month over month basis. As you can see, the numbers were down across the board when you look at the end of May compared to the end of June. For instance, sales were down 3.3% between the two past months.

The data below that is a look at what homes sold for with regard to their asking prices. You may hear it called ‘Sales Price to List Price.’ In June, we came it at 95.8%, so on average, buyers received a 4.2% discount off of asking price.

Overall, June was an impressive sales month. Knowing that the annual slowdown of the market is occurring and looking at the pending sales, July should be slower.

*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 7/1/2017. Information deemed reliable, but not guaranteed. There maybe 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 © 2017 Heather Tawes Nelson | Joyce Tawes

 

Things to Do in Scottsdale – July 2017

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– Scottsdale Events July 2017 –

July is here and with that comes another month of events and things to do. Here are some things coming up in and around Scottsdale that may be of interest.

  • 4th of July Events – Earlier this week, I wrote a post with several ideas on how you can celebrate the 4th. Some of the events are going on over the weekend so it is worth a look, but most are events that take place on July 4th.
  • Concerts at the Musical Instrument Museum – Ongoing – Stay cool inside while you enjoy any number of performances at the MIM. Enjoy music from all over the globe.
  • Summer Splash Tuesdays at Desert Ridge – Through July 25th – Every Tuesday, head over to the Splash Pad at Desert Ridge between 11AM and 12:30PM for some summer fun. There will be games, music, fun and visits from some favorite characters.
  • Tony Bennett – July 11 – The legendary Tony Bennett will be coming to the Celebrity Theater in Phoenix for a one night performance. He will be joined by his daughter Antonia Bennett.
  • Winter in July at the Phoenix Zoo – July 15th – The zoo animals will be enjoying frozen fun treats while kids and adults play in the 40 tons of snow that will be on hand for Winter in July. Build a snowman or enjoy the “blizzard” that will happen every 30 minutes.
  • Arizona Get Outdoors Expo – July 15th – 16th – WestWorld will be hosting this multi-day event that celebrates the outdoors. There will be a lumberjack show, a catch and release fishing pond, archery, wildlife, boats and more.
  • Arizona Breakfast Weekend – July 27th – 30th – Fans of restaurant week, rejoice! During this weekend, local restaurants are pulling out all of the stops for breakfast specials.
  • Real Wild & Woody Beer Festival – July 29th –  Head on down to the Phoenix Convention Center for a festival that celebrates 30 years of brewing in Arizona.

Please feel free to add any other July events in the comment section.

Disclaimer: Events subject to change. Information deemed reliable, but not guaranteed.

4th of July Events In and Around Scottsdale – 2017

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– Scottsdale 4th of July Celebrations –

photoThe 4th of July is almost here again and with that comes plenty of events and ways to celebrate the holiday. Here is a list of things going on in and around Scottsdale to celebrate the 4th of July.

  • Fairmont Princess 4th of July Freedom Fest – June 30th – July 4th – Once again the Scottsdale Fairmont Princess is hosting a multi-day celebration in honor of the 4th. There will be five nights of fireworks, a vintage air show, concerts and special events at the resort. Plus, this summer the Princess is celebrating its 30th anniversary, so there are extra special events going on all over the property. Looking for a fun staycation idea? They are also offering a VIP 4th of July package if you want full access to the resort and events.
  • McCormick-Stillman Railroad Park Concert and Fireworks – July 2nd – Catch Mogollon’s free concert at the Railroad Park and stay on for post-concert fireworks.
  •  Scottsdale 4th of July Celebration at WestWorld – July 4th – Looking for an indoor option to celebrate? If so, WestWorld is hosting a family friendly and patriotic party from 3PM to 9:30PM. There will be bull-riding exhibitions, pony rides, princess meet and greets, stunt dogs, a BMX show, food and drinks and so much more. The event will culminate with a fireworks show at 9PM.
  • 4th of Zooly at the Phoenix Zoo – July 4th – The 4th of Zooly celebration is back at the Phoenix Zoo. Come enjoy a BBQ dinner and special treats like animal encounters, free carousel rides, free Stingray Bay access and more. The fireworks show will begin at 9PM.
  • Cave Creek’s 4th of July Celebration – July 4th – Frontier Town is hosting this year’s event. There will be fun and games, food and the biggest fireworks display they have done yet. The show will commence at dark.
  • 4th at the Fountain in Fountain Hills – July 4th  –  The popular Fountain Hills event is back. Bring a blanket and lawn chairs to sit and enjoy this community celebration. There will be music, bounce houses, a climbing wall, food vendors and the fireworks show at 9PM
  • Tempe Town Lake Festival – July 4th – This celebration put on by the Kiwani’s is celebrating 66 years. In addition to live music, there will be a flyover, a Family Fun Fest Zone and more. A Food Court and Beer Garden will also be available. Fireworks start at 9:20PM.
  • Fabulous Phoenix 4th – July 4th – Now in its 32nd year, this huge celebration in the City of Phoenix is a popular one. There will be two stages with live entertainment, vendors and a Kids’ World. The fireworks are set to start around 9:30.

This is just a few of the many events going on in and around Scottsdale for the 4th of July. Feel free to add any others in the comments section.

Photo by Dirkusmaximus

New Cave Creek Community: The Villas at Rancho Paloma

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– The Villas at Rancho Paloma in Cave Creek –

I always like to stay up to date on new communities being built in the Cave Creek/North Scottsdale area. Recently, I had the chance to stop in at The Villas at Rancho Paloma, a new KB Home development on the corner of Cave Creek Road and Rancho Paloma Drive.

The Villas at Rancho Paloma Cave CreekThe Villas are a new concept for this area and are designed to be full-time or “lock and leave” homes. There are 70 lots in the complex and are designed with an attractive front yard maintained by the Homeowner’s Association and smaller, private back yards just the right size for outdoor living and minimum maintenance.

The homes range in size from 1,458 square feet (single level) up to 2,453 square feet for a two-story home. KB Home offers a number of floor plan options including extended patios, 9’ or 15’ multi-slide doors to bring the outside in, and standard features you would expect to pay extra for in most developments.  The base prices range from $353,000 to $394,000 with some lot premiums.

I was very impressed with the floor plans. The smallest model has 2 guest rooms that share a bath and the open floor concept in the living area. The model I saw had an extended patio and the multi-sliding doors. When opened, you have just added another entertainment area to the living room.

I viewed two of the two-story models. My favorite one was the 2,367 square foot model. Downstairs you have the oversized great room and kitchen, plus a powder room and full den/bedroom. All of the two-story homes have large loft areas off of the stairs that provide a second living/family room. This particular model has the master bedroom upstairs as well as two large guest rooms and the laundry room.

Cave Creek AZ Villas at Rancho PalomaThe included features list takes up a full-page and also mentions the 10 Year KB Home Limited Structural Warranty. And, you know how one thing always kind of catches your interest? They’ve put USB Charging receptacles in the kitchen and master bedroom. You get a standard wall plug PLUS two USB ports. How neat is that?

Plus, the great location works for everyone. In addition to being located with access to major arteries for travel and work, the homes are located approximately 1 ½ miles from the local high school and less than 2.5 miles from the local grammar school and the community YMCA.  Shopping is nearby, plus the many fine restaurants in Cave Creek, Carefree, North Phoenix and  North Scottsdale.

If you are looking for a newly built, moderately priced home in a fabulous location, you should consider The Villas at Rancho Paloma.

If you would like more information on this fabulous development, give me a call or text me at (480) 209-7843 or reach out by email and I’ll be happy to answer any further questions on availability, floor plans, and an update on available lots.

Summer Staycation Ideas in Scottsdale

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– Scottsdale Summer 2017 Hotel Deals –

With the temperatures Scottsdale has been experiencing this week, a cool pool sounds like a great way to beat the heat and escape. To help you with this, many local resorts and hotels are offering great summer rates and deals.

Here are a few Scottsdale hotels with Summer Staycation rates and packages:

  • Westin Kierland’s Big Chill Summer Package –  This package, which runs through September 4th,  has room rates starting at $149/night that include either a $50 dining credit or two FlowRider surf simulator sessions. The dining credit and FlowRider sessions are both offered per room and per night. Activities for kids are offered daily, with a full slate of events on Fridays and Saturdays.
  • Fairmont Princess Scottsdale’s Summer Splash Birthday Bash Package – The Princess is celebrating 30 years and has a Summer Splash Birthday Bash lineup of events that will please everyone, including a Mermaid Academy for the little ones and Mermaids and Mai Tais for adults who want to channel their inner mermaid. Swim up movies, a sandy beach, glo-light pool parties, the Trailblazers Family Adventure Center and so much more await guests. Rates start at $169 per night and include a daily $50 resort credit. (Note: While most of the activities are complimentary with your stay, there may be an additional charge for some activities.) And if you are looking for 4th of July plans, there is a VIP 4th of July package being offered as well.
  • Four Seasons Scottsdale at Troon North Very Important Kids or the Sleep and Swim Packages – The Four Seasons at Troon North has a couple of packages for the summer. The Very Important Kids Package is perfect for families.  Every two nights, you will receive a $100 resort credit, plus kids aged 5-12 can participate in the Kids for All Seasons program at no additional cost. Other perks include a welcome amenity, a family movie and smoothie vouchers for up to two kids. The Sleep and Swim Package includes a daily cabana by the pool, where you will enjoy a chilled fruit plate, bottled water and Evian spritzes.
  • Scottsdale Plaza’s Summer Escape Package – Starting at $129 per night, you will receive a $100 credit to be used toward spa services or food and beverage. Plus, the resort fee will be waived. There is also a Family Fun Package (starting at $139 per night) that includes suite accommodations plus four tickets to Big Surf  Tempe to be used during your stay or at another time in 2017.
  • McCormick Scottsdale’s Buck the Heat Package – With this package, enjoy breakfast and happy hour specials for $1 and $5 from the “Buck the Heat” menu and your resort fee is waived (if reservation is booked via the hotel’s website.)

These are just a few of the great Scottsdale Summer Staycation offers out there. Feel free to share any others in the comments section.

Scottsdale AZ Luxury Home Market – May 2017

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– Scottsdale AZ Luxury Home Market Performance for May 2017 –

This report takes a look at the luxury home market in Scottsdale over the past year. All of these homes were listed above $1 million. To provide additional detail, the homes are broken into four price segments.

Within each segment, you will find the following information:

Active – How many homes were for sale at the end of the month.
UCB (Under Contract Accepting Backup Offers) – The number of homes under contract, but 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 home sales over the course of the month.


– MAY 2017 –

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

– Active Scottsdale Homes on the Market: Inventory fell another 12% between April and May due to strong sales and homeowners taking their homes off of the market for the summer.
– UCB Scottsdale Home Sales: UCB homes were up to 35 at the end of May. This is the highest we have seen this since we started tracking UCBs a few months back.
– Pending Scottsdale Home Sales: Pending home were also up to 35, well ahead of the 12 month average and tied for the highest we have seen in the past year.
– Scottsdale Homes Sold:  Thirty-seven homes sold in May. It was another great sales month.
– Sales Price to Listed Price: 93.9% – On average, buyers saw a discount off of list price of 6.1%.

 

Scottsdale homes for sale between $1 and $1.5 million May 2017

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

– Active Scottsdale Homes on the Market: Inventory dropped over 10% between April and May after several months of increases.
– UCB Scottsdale Home Sales: UCB homes ended the month at 10, slightly under the five-month average.
– Pending Scottsdale Home Sales: Pending sales ended the month at an incredible 24. This is more than double the 12 month average and is by far the highest we have seen this figure in the past year.
– Scottsdale Homes Sold: Sixteen homes sold in May, another excellent performance.
– Sales Price to Listed Price: 93.4% – On average, buyers saw a discount off of list price of 6.6%.

Scottsdale homes for sale between $1.5 and $2 million May 2017

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

– Active Scottsdale Homes on the Market: Inventory dropped under the 200 mark to close out the month with 189 homes for sale. This is still ahead of the 12-month average.
– UCB Scottsdale Home Sales: UCB status homes ended May at 8. This is the second highest we have seen this since we started tracking UCBs.
– Pending Scottsdale Home Sales: Pending sales doubled to 10 at the end of the month. This is the third highest we have seen this in the past year.
– Scottsdale Homes Sold: Only five homes sold in this price range. This is much lower than we have been seeing.
– Sales Price to Listed Price: 90.9% – On average, buyers saw a discount off of list price of 9.1%

Scottsdale homes for sale between $2 and $3 million May 2017

Scottsdale Homes Priced $3,000,000+

– Active Scottsdale Homes on the Market: The number of homes for sale fell almost 9% to 133 at the end of the month.
– UCB Scottsdale Home Sales: Only two homes were in UCB status at the end of May.
– Pending Scottsdale Home Sales:  Pending sales were also lower at three. This is slightly below the 12 month average of 5.
– Scottsdale Homes Sold:  An incredible 12 homes sold in the $3 million-plus range in May. This was a fantastic sales month.
– Sales Price to Listed Price: 88.3% – On average, buyers saw a discount off of list price of 11.7%.

Scottsdale homes for sale over $3 million May 2017

May was another great month for the luxury home market in Scottsdale. Some segments saw incredible sales activity, while others have really solid pending inventory. June should be another good month.

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 6/1/2017 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 © 2017 Heather Tawes Nelson | Joyce Tawes

Quick Video Update of the Scottsdale Real Estate Market – May 2017

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– May 2017 Scottsdale Housing Market Video –

May 2017 – Video

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

Active Listings

Here is a chart tracking the inventory of homes for sale in Scottsdale at the end of May 2016 versus the end of May 2017.

May 2017 ended with 14% fewer homes for sale than at the end of May 2016.

 

 

 

 

This is the same metric, but it is now looking comparing inventory between the end of April and May 2017.

Inventory was down 9% month-over-month between April and May. This is due to another strong sales month, plus fewer homes being put onto the market as we head into the low season.

 

 

 

Median List Price for Scottsdale Homes

This screen shot shows a median list price comparison for the end of May 2017 and May 2016.

The median list price is a measurement where exactly half of all homes are priced higher and half of all homes are priced lower.

May’s median list price was $869,000. As we have seen throughout this year, the 2017’s median list price is tracking quite a bit higher than the same time in 2016.

 

 

Days on Market

Days on Market (DOM) is a measure that tracks how long homes are on the market before they sell. A higher DOM indicates a slower market and a lower DOM indicates a market where homes are selling more quickly.

May’s DOM was 98, down 1%.

 

 

Median Sales Price for Scottsdale Homes

This is a depiction of the median home sales prices, versus the list prices we saw earlier.

Scottsdale’s median home sales price was over $526,000 in May. This is up over May 2016 as well as April 2017.

 

 

Number of Homes Sold

The final two screenshots cover home sales in Scottsdale.

This first image is a year-over-year comparison.

As you can see, home sales in Scottsdale were up 13% between May 2017 and May 2016.

 

 

This second image has the same information, but on a month-over-month basis.

May 2017 was another great sales month in Scottsdale, finishing the month with 16% more sales than the month before.

 

 

 

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.

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