Scottsdale Golf Homes

Rancho Manana in Cave Creek AZ – 2013 Real Estate Report

June 21, 2013 By Heather Tawes Nelson

– Rancho Manana in Cave Creek AZ – 2013 Real Estate Report –

Rancho Manana is a smaller, charming community located among the gently rolling hills of Cave Creek, Arizona. It is home to the public Rancho Manana Golf Club with a par 70 course and one of the area’s best restaurants, the Tonto Bar & Grill.
The central part of the community consists of the Rancho Manana Resort and the golf complex. Beyond that, there are a variety of private homes and estates. Many of these homes enjoy golf course and/or mountain views.

RANCHO MANANA HOMES FOR SALE AND PENDING SALES AS OF JUNE 21st

Because Rancho Manana is in high demand and there are not a lot of homes to choose from, sales activity is a little quieter than we see at some of the larger golf communities.

Currently, there are four single-family homes on the market. They range in price from a 3,100 square foot home with three bedrooms and two and one-half baths listed for $599,900 to $3,200,000 for an estate home with 7,147 square feet and eight bedrooms and six and one-half bathrooms.

There is a single pending sale for a home with three bedrooms and bathrooms that had been listed for $410,000.

RANCHO MANANA HOME SALES YEAR-TO-DATE

Below is an analysis of Rancho Manana home sales for 2013 . As you can see, the bulk of the activity has taken place in Q2 with three sales as compared to Q1’s single sale.

You can also see that while the average sales price increased over the course of the year, the average sold price per square foot dropped slightly/held steady. What is interesting is that some of the homes sold over asking price, giving us the 104% on the sales price to list price figure.

Although there was not a huge amount of volume, due to low supply, Rancho Manana home sales seem to be progressing along.

Search Rancho Manana Cave Creek Homes for Sale

Disclaimer: Information herein deemed reliable but not guaranteed. Data and information was pulled from the Arizona Regional MLS (ARMLS) as of 6/21/2013 and can change at any time. The analysis looks at residential home sales activity in Rancho Manana in Cave Creek, Arizona. This blog represents the opinion of the author. No warranties implied or expressed.
Copyright © 2013 Heather Tawes Nelson

Legend Trail Scottsdale AZ – 2013 Real Estate Report

June 19, 2013 By Heather Tawes Nelson

– Legend Trail in Scottsdale AZ – 2013 Real Estate Report –

Legend Trail is a golf community tucked into the northeast portion of North Scottsdale. It is home to several types of housing choices including condos, “lock and leave” cottages, production homes and lovely custom homes.

Residents enjoy 640 acres of rolling desert and golf course terrain. There are also tennis counts, a fitness center and trails for outdoor enthusiasts. Its location near Pima Road means you are minutes away from dining, shopping and entertainment.

LEGEND TRAIL HOMES FOR SALE AND PENDING SALES AS OF JUNE 19th

As of today, there are 21 homes actively for sale in Legend Trail. They range in price from $288,800 for a two bedroom, two bathroom first-floor condo with 1,253 square feet to $1,585,000 for an elegant Tuscan style custom home with over 4,500 square feet overlooking the golf course.

There are three pending home sales and they range in price from $299,000 to $595,000.

LEGEND TRAIL HOME SALES YEAR-TO-DATE

Below is a summary of home sales in Legend Trail for 2013 so far. I separated the sales data into Q1 sales as well as year-to-date so you can see how sales are progressing through the year.

As the year has progressed, we have seen sales activity pick up and the average sales price has increased. The average price per square foot has edged up a little as well. Cumulative days on market has increased, but this was impacted by the large number of days on market for the home that sold for $$1,050,000, the highest sales price of the year so far.

Overall, Legend Trail home sales seem to be doing well as we come to the mid-year. We are seeing positive momentum, but I anticipate this slowing down a bit seasonally during the summer and picking up again as we enter the high season later in the year.

Search Legend Trail Scottsdale Homes for Sale

Disclaimer: Information herein deemed reliable but not guaranteed. Data and information was pulled from the Arizona Regional MLS (ARMLS) as of 6/19/2013 and can change at any time. The analysis looks at residential home sales activity in Legend Trail in Scottsdale, Arizona. This blog represents the opinion of the author. No warranties implied or expressed.
Copyright © 2013 Heather Tawes Nelson

Scottsdale AZ Luxury Home Market – May 2013

June 10, 2013 By Heather Tawes Nelson

– Scottsdale AZ Luxury Home Market Performance for May 2013 –

May was an excellent sales month for the Scottsdale luxury home market. I am defining this market as homes with asking prices in excess of $1 million. Since the number and frequency of sales vary as home prices increase, I have segmented the information into four price bands to show more detail.

In each price band, you will see:
Active – How many homes were on the market at the end of the month.
Pending – How many homes were pending sale at the end of the month.
Sold – How many homes sold over the course of the month.

– May 2013 –
Scottsdale Homes Priced Between $1,000,000 – $1,499,999
– Active Scottsdale Homes on the Market: The number of homes dropped for the second month in a row, taking up to the lowest level we have seen in 2013.
– Pending Scottsdale Home Sales: Pending sales were very robust at the end of May with 34. This is well ahead of the twelve month average of 22.
– Scottsdale Homes Sold: Sales were excellent at 41. This is the highest I have seen this figure since I started tracking this data in September of 2007.
– Sales Price to Listed Price: 94.4% – This is the second highest this ratio has been in the last 12 months, indicating buyers are getting less of a discount off of asking price on average.

Scottsdale Homes Priced Between $1,500,000 – $1,999,999
– Active Scottsdale Homes on the Market: We saw another large drop in inventory in May, bringing us to levels we have not seen since last October/November.
– Pending Scottsdale Home Sales: There were 28 pending sales at the end of month, which is the highest we have seen in the last year. It is almost double the 12 month average of 15.
– Scottsdale Homes Sold: This segment also had a strong sales month with seventeen homes sold. Again, this is the highest we have seen this figure in the past year.
– Sales Price to Listed Price: 93.5% – This is on par with what we have been seeing for this price point.

Scottsdale Homes Priced Between $2,000,000 – $2,999,999
– Active Scottsdale Homes on the Market: There was a small decrease in inventory in May, bringing it almost to the 12 month average of 107 homes for sale.
– Pending Scottsdale Home Sales: Pending sales stayed at the same level in April and May at 10. They have been in this range for the last four months.
– Scottsdale Homes Sold: Twelve homes sold last month, which is a very strong number. This is the second highest this number has been since September of 2007. The only other month with higher sales was 13 sales in October of 2007.
– Sales Price to Listed Price: 92.2% – This is a pretty standard number for this price segment.

Scottsdale Homes Priced $3,000,000+
– Active Scottsdale Homes on the Market: As we saw with the other segments, inventory decreased in this one too. It had dropped to 105 homes at the end of the month.
– Pending Scottsdale Home Sales: Pending sales dropped in this price range to one. This is lower than we have been seeing for the past several months.
– Scottsdale Homes Sold: There were two home sales in May in the over $3 million range. This is on track with the 12 month average.
– Sales Price to Listed Price: 89.3% – This is a good figure for this price point.

Overall, May was an excellent month for sales in the Scottsdale luxury home market, particularly in the lower luxury price points. Some of the sales figures and pending sales figures were the highest we have seen in six years. The strong pending inventory, especially on the lower end, indicates June sales should be good as well.

To see more detailed data behind this report, please visit my Scottsdale Luxury Home Market reports page and click on the “Scottsdale Market Trends” downloadable report.

Search Scottsdale Luxury Homes for Sale

Disclaimer: Information deemed reliable but not guaranteed. Data and information was pulled from the Arizona Regional MLS (ARMLS) as of 6/1/2013 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 implied or expressed.
Copyright © 2013 Heather Tawes Nelson

Scottsdale Zip Code 85266 Home Sales By Type Q1 2013 – Includes Foreclosures & Short Sales

May 21, 2013 By Heather Tawes Nelson

Below is a recap of Scottsdale’s 85266 zip code’s first quarter of 2013.

You will find the 85266 zip code in North Scottsdale, above the Loop 101 freeway. It comprises an area that is north of the 85255 zip code, but is south and west of 85262. Like the other North Scottsdale zip codes, 85266 is located at a higher elevation and therefore some homes enjoy lovely city light and valley views. There is a lot of natural desert land that has been preserved, so residents get to enjoy the undeveloped vistas.

Much of 85266 is comprised of standalone homes and smaller subdivisions. However, there are three well-known larger golf communities located there. They include Terravita, Whisper Rock and The Boulders.

85266 HOME SALES INFORMATION
The home sales data for the first quarter has been divided into three sales types, of which there are two “distressed” sale categories.

– Non-Distressed Sales – These are the “normal” or “regular” home sales that most people are familiar with.
– Short Sales – Short sales occur when a home is worth less than the loans out on it. In order for the home to sell, a third party who holds a lien on the home must grant approval. Short sales are distressed sales.
– Foreclosures – Here the home has been foreclosed on and the person who owned the home no longer has a stake in it. This is the other distressed category.

Overall Findings for the Scottsdale Zip Code 85266 Home Sales Market for Q1 2013 – Data as of April 1, 2013

Active Scottsdale 85266 Homes For Sale: The majority of homes (96%) on the market at the end of the quarter were regular sales.
85266 Pending Homes for Sale: We did see an uptick in the short sale category when you look at the pending sales.
Q1 2013 Scottsdale 85266 Home Sales: Regular sales made up a significant amount of the sales in Q1 with 87%. This is up quite a bit compared to the 76% it was at the end of Q4 2012.
85266 Home Prices: As would be expected, average price per square foot was highest with normal sales. However, short sales came in below foreclosures for the same metric. This is unusual as foreclosures are usually the lowest, but we have been seeing this happen recently.
Cumulative Days on Market: Foreclosures had the highest number of days on market in Q1. Usually short sales have the highest number.
Discounts Off of List Price: As we have seen elsewhere for Q1, short sales on average sold above the asking price at 102.5%. A very small average discount was seen on foreclosures. Regular sales came in with an average discount of about 5%.

Comparison: Scottsdale Zip Code 85266 Home Sales for 2012

Here is the same data for the entire year of 2012. While sales price and average discount off of asking price haves stayed more or less level, we have seen the average price per square foot increase and days on market decrease quite a bit in Q1 2013.

To see this same analysis for the entire City of Scottsdale AZ, please visit this previous report:
View Scottsdale Home Sales by Type for 2012

Search Homes for Sale in Scottsdale Zip Code 85266

Disclaimer: Due to rounding issues, not all columns will add up to 100%. Data and information were pulled from the Arizona Regional MLS (ARMLS) as of and 4/1/2013 and can change at any time. The analysis looks at single-family resale homes for sale and sales in Scottsdale AZ zip code 85266 for Q1 2012. There may be new home inventory in these figures if the developer is using the MLS to market its homes. Information deemed reliable but not guaranteed. This post represents the opinion of the author. No warranties express or implied.
Copyright © 2013 Heather Tawes Nelson

Scottsdale Zip Code 85262 Home Sales By Type Q1 2013 – Includes Foreclosures & Short Sales

May 15, 2013 By Heather Tawes Nelson

Here is an overview of Q1 2013 home sales for the Scottsdale zip code of 85262.

You will find 85262 in the farthest north section of Scottsdale. It is bordered by National Forest Land, Carefree and Cave Creek. Much of 85262 is hilly and its higher elevation means many homes and lots have wonderful valley and mountain views. And, although there are plenty of shopping, dining and entertainment options close by, much of 85262 embraces the Sonoran Desert landscape with wide-open natural desert areas and washes.

Mirabel, Estancia, Desert Mountain, Legend Trail and Troon North are some of the top golf communities that are found in 85262. Depending on the community, you can find lock and leave condos all of the way up to custom estates.

SCOTTSDALE ZIP CODE 85262 HOME SALES REPORT AND SALES TYPE DEFINITION

This first report looks at sales data specific to the first quarter of 2013. Following that are two 2012 summary reports, which will show you how things are changing as we move into 2013.

The data is broken out by home sales type and each of their definitions are below:
– Non-Distressed Sales – These are “regular” or “normal” home sales where a buyer and seller form a contract on the home and ownership transfers to the buyer.
– Short Sales – In the case of a short sale, a home cannot sell for what is owed on it and the homeowner has to get short sale approval from the lienholder to sell the home. This is one of the two “distressed sale” categories.
– Foreclosures – This final sale type is just what it sounds like. These homes have been foreclosed on and the homeowner is no longer the owner. This other “distressed sale” category may also be called “REO‘,” “Lender Owned” or “Bank Owned.

Scottsdale Zip Code 85262 Home Sales for Q1 2013 – Data as of April 1, 2013

Active Scottsdale 85262 Homes For Sale: Virtually every home on the market at the end of the quarter was a regular sale. Distressed homes made up the remaining 2-3.%
85262 Pending Homes for Sale: However, we do see the distressed homes have a larger impact when you look at pending sales at the end of the month. Now, only 74% is comprised of regular sales and short sales make up almost a fifth of the inventory.
Q1 2012 Scottsdale 85262 Home Sales: Regular sales made up 88% of all home sales in Q1. The balance was more or less split between short sales and foreclosures.
85262 Home Prices: As we would expect to see, regular home sales had highest average sales price and highest average price per square foot. Normally, short sales would be the next highest, but in this case, foreclosures and short sales flip-flopped. We have seen this happen a few times over the last several quarters.
Days on Market: This is the first time I have seen regular sales come in with the longest days on market. Typically, they have the shortest time period. This is most likely due to some luxury homes selling that had been on the market for a long period.
Discounts Off of List Price: The discount on non-distressed homes is about where we would expect it. However, the discounts on short sales and foreclosures is a bit larger than we have been seeing in Scottsdale as a whole. Discounts have been in the 3-4% range, whereas in Q1, we saw discounts of 6-7%.

SCOTTSDALE ZIP CODE 85262 – 2012 HOME SALES INFORMATION

For comparison’s sake, here are the numbers for 85262 for the year 2012.

As you can see, the average sales price and average price per square foot are up in Q1 2013. And, we are seeing shorter times on market as well as homes selling for less of a discount overall.

To see this same information for the entire City of Scottsdale AZ, please visit these previous reports:
View Scottsdale Home Sales by Type for 2012

Search Homes for Sale in Scottsdale AZ Zip Code 85262

Disclaimer: Due to rounding issues, not all columns will add up to 100%. Data and information were pulled from the Arizona Regional MLS (ARMLS) as of 4/1/2013 and can change at any time. The analysis looks at single-family resale homes for sale and sales in Scottsdale AZ zip code 85262 for Q1 2012. There may be new home inventory in these figures if the developer is using the MLS to market its homes. Information deemed reliable but not guaranteed. This post represents the opinion of the author. No warranties express or implied.
Copyright © 2013 Heather Tawes Nelson

Scottsdale Zip Code 85255 Home Sales By Type Q1 2013 – Includes Foreclosures & Short Sales

April 26, 2013 By Heather Tawes Nelson

-2013 Scottsdale Zip Code 85255 Home Sales By Type-

Below are the sales numbers for the first quarter of 2013 in Scottsdale Arizona zip code 85255. The sales have been broken into sales type categories so that you can see the impact of distressed home sales on the numbers.

The 85255 zip code can be found in North Scottsdale and it is home to many top golf and luxury communities. It is at a higher elevation than central and south Scottsdale and many homes and lots enjoy beautiful mountain and city light views. Some of the top communities in 85255 include Troon Country Club, Desert Highlands, Grayhawk, DC Ranch, Silverleaf and Mc Dowell Mountain Ranch.

Definitions for the Real Estate Sales Types:

Non-Distressed Sales: These are “regular” or “typical” home sales. A homeowner sells to the homebuyer and no third party approval is required for the sale to complete.
Short Sales: This is one of the two “distressed” sale categories. In this case, the home will not sell for the amount the owner has out on it. In order to complete the sale, the third party or parties who hold liens against the property will need to approve the contract terms before the sale can go through.
Foreclosures: This is the other “distressed” category. As the names imply, these homes have been foreclosed upon and the homeowner no longer has possession. Other name for these homes are “lender owned” or “REO.”

Overall Findings for the Scottsdale Zip Code 85255 Home Sales Market for Q1 2013 – Data as of April 1, 2013

Active Scottsdale 85255 Homes For Sale: Almost all of the homes for sale (98%) at the end of Q1 2013 were regular sales. There were only two foreclosure homes on the market.
85255 Pending Homes for Sale: When we look at pending sales, we see an increase in the representation of distressed properties, even though they are such a small part of the inventory now. This highlights the demand for distressed homes as buyers seek out “deals” on homes.
Q1 2013 Scottsdale 85255 Home Sales: 90% of all Q1 sales were on regular homes. Short sales and foreclosures made up the remaining 10%.
85255 Home Prices: Looking at average price per square foot on sales, the numbers come in as we would expect with regular sales having the highest number, followed by short sales and foreclosures. The larger average square footage of the foreclosures accounts for the higher average sold price over short sales.
Cumulative Days on Market: Again, the numbers are coming in where we would expect. Regular sales with the shortest days on market, followed by foreclosures then short sales.
Discounts Off of List Price: Buyers of non-distressed homes saw an average of 4.5% off of asking prices. What is interesting is that short sales on average came in above asking price. This is the first time I have seen this. Foreclosure buyers got a larger average discount than what we have been noting. Usually it comes in around a 2-3% discount.

Scottsdale Zip Code 85255 –2012 Sales Data

This last chart is a snapshot of sales activity by quarter and by sales type for the year of 2012.

You can see that over the year, the percentage of non-distressed home sales increased. It went from 67% in Q1 2012 to 78% in Q4. A lot of this gain came from the declining number of foreclosure homes that sold due to limited inventory.

If you would like to review this same information for all of Scottsdale in 2012, please visit the report below:

View Scottsdale Homes Sales by Type 2012

Search homes for sale in Scottsdale AZ Zip Code 85255

Disclaimer: Due to rounding issues, not all columns will add up to 100%. Data and information were pulled from the Arizona Regional MLS (ARMLS) as of 4/1/2013 and can change at any time. The analysis looks at single-family resale homes for sale and sales in Scottsdale AZ zip code 85255 for Q1 2013. There may be new home inventory in these figures if the developer is using the MLS to market its homes. Information deemed reliable but not guaranteed. This post represents the opinion of the author. No warranties express or implied.
Copyright © 2013 Heather Tawes Nelson

Desert Mountain Scottsdale AZ – Q1 2013 Real Estate Report

April 15, 2013 By Heather Tawes Nelson

– Desert Mountain Scottsdale AZ – First Quarter 2013 Real Estate Report –

Desert Mountain is a well-known golf community in North Scottsdale. Spread over 7,000 acres, this luxury community is home to six Jack Nicklaus courses and six clubhouses. Housing options range from “lock and leave” casitas up to massive estates with sweeping valley views.

Besides golf, there is a very active social calendar, a fitness center and pools, a tennis complex with a variety of play surfaces, as well as miles of paved and unpaved trails.

DESERT MOUNTAIN HOMES FOR SALE AND PENDING SALES AS OF APRIL 15, 2013
As of today, there are 172 homes for sale in Desert Mountain. Asking prices range from $430,000 for a 2,045 square foot casita that went to foreclosure to $8,888,000 for a 11,800 square foot Tuscan estate with six bedrooms and ten bathrooms.

There are 16 homes pending sale as of this date. Prices on these homes range from $569,000 to $3,500,000.

Q1 2013 DESERT MOUNTAIN HOME SALES

Here is a snapshot of first quarter 2013 sales in Desert Mountain. For comparison’s sake, I included the numbers from Q1 2012 as well.

The lowest priced home sale was a Sonoran Cottage that was being sold as a short sale. It had three bedrooms, three and one-half bathrooms and 2,490 square feet. The asking price had been $565,000 and it sold for cash for $535,000.

The most expensive home sale of the quarter was for a home with over 11,000 square feet with five bedrooms and seven bathrooms in the Saguaro Forest community. The asking price was $6,995,000 and it sold for $6,665,000.

Twenty-four homes sold over the first three months of the year in 2013, compared to 2012’s twenty-one home sales. The average sales price is up quite a bit over 2012, coming in at over $1.5M.) Average price per square foot is also up year over year. (Note: The $6.6 million sale in Q1 2013 has an impact on these numbers.)

The average cumulative days on market was down significantly and on average, less of an average discount off of asking price was seen in Q1 2013.

Overall, Desert Mountain home sales look to be improving in 2013. It will be interesting to see how Q2 performance goes, since there is a healthy amount of homes currently in pending status.

Search Desert Mountain Scottsdale Homes for Sale

Disclaimer: Information herein deemed reliable but not guaranteed. Data and information was pulled from the Arizona Regional MLS (ARMLS) as of 4/15/2013 and can change at any time. The analysis looks at residential home sales activity in Desert Mountain in Scottsdale, Arizona. This blog represents the opinion of the author. No warranties implied or expressed.
Copyright © 2013 Heather Tawes Nelson

Scottsdale Golf Communities – 2012 Real Estate Sales

March 20, 2013 By Heather Tawes Nelson

– Scottsdale Golf Communities – 2012 Real Estate Sales Report–

Below is a chart I put together that looks at sales performance by golf community in 2012. I selected a large number of North Scottsdale, Cave Creek and Carefree communities and compared them on things like average sales price, average price per square foot and so on.

The most affordable communities to purchase homes in were both located in Cave Creek. They were Tatum Ranch and Dove Valley Ranch. The 2012 average sales price was in the $250-$290K range for these two. These communities also enjoyed the lowest average cumulative days on market as demand was high for these types of homes.

On the higher end, Estancia and Silverleaf both were standouts in 2012. Both came in with average sales prices in excess of $2 million. Estancia had the highest average price per square foot of all of the communities with $453.19. Silverleaf was next with $365.40 average price per square foot.

Other Items of Note:

In general, as the prices of the homes increase, so does the average cumulative days on market as there are fewer buyers for these types of properties.
Another thing is we tend to see more price flexibility in the communities with higher priced homes. However, regardless of price point, when a good home comes onto the market and is priced correctly, we see those homes sell more quickly.
Desert Highlands was home to the highest priced sale in 2012. An estate sold for $8,200,000.
The community of Grayhawk, which comes in somewhere around the middle in terms of average sales price, saw homes sell quite quickly in 2012. The average days on market was 82, illustrating what a desirable community it is.
Desert Mountain had the highest average days on market with 417. I would base this on the fact that Desert Mountain had quite a few trophy properties that ended up selling in 2012.

Search Scottsdale Golf Homes for Sale

Disclaimer: * Days on market is cumulative days on market. Data and information was pulled from the Arizona Regional MLS (ARMLS) as of 3/11/2013 and can change at any time. The analysis looks at single-family resale home sales in Scottsdale AZ in 2012.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 © 2013 Heather Tawes Nelson