Scottsdale AZ Real Estate & Lifestyle

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Scottsdale Real Estate Market

Mirabel Scottsdale AZ – 2009 Sales Performance

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The luxury golf community of Mirabel is located in far North Scottsdale, Arizona. Its northern location allows the community some of the most spectacular valley and city lights views around. Developed by the Discovery Land Company, Mirabel is spread over 713 acres and has 315 custom homesites as well as a small enclave of 35 production homes located close to the clubhouse. Since it is located at approximately 3,000 feet, temperatures at Mirabel tend to be slightly cooler than other parts of the valley at lower elevations.

Although you do not have to be a member of the Mirabel Golf Club to own property in Mirabel, the main center of activity is the Desert Lodge Clubhouse and the 18-hole Tom Fazio golf course. The Clubhouse design is striking, warm and has all of the amenities you would want including a fitness center, tennis courts, fine and casual dining, pool area with cabanas, pro shop, an activities and lifestyle concierge and so much more.

Below is an overview of Mirabel homes for sale and Mirabel sales activity for 2009 as well as a comparison with 2008’s sales performance. As you can see, home sales were up in 2009 over 2008 by 60%. However, the actual sales volume was below that of 2008 by over $300,000. The average sales price dropped by over $1 million, days on market were up and the average price per square foot was down significantly.

Mirabel Home Sales 2009

Even though sales were up in 2009, Mirabel saw lower sales prices and larger discounts off of asking prices. This is not uncommon as we saw similar patterns in all of the luxury communities in Scottsdale. As capital markets dried up and buyer activity slowed, sellers were forced to lower their prices and negotiate. The presence of short sales and foreclosures also had an impact on sales volume.

Even though 2009 was a difficult year for Mirabel sellers, there were and continue to be some great values for buyers.

 

Disclaimer:
Information herein deemed reliable but not guaranteed. Data and information was pulled from the Arizona Regional MLS (ARMLS) as of 1/1/2010 and can change at any time. The analysis looks at home sale activity in the golf community of Mirabel in Scottsdale, Arizona. This blog represents the opinion of the author. No warranties implied or expressed.
Copyright © 2010 Heather Tawes Nelson

Scottsdale AZ Golf Community Home Sales and Listing Update for 2009

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At the end of the year, I pulled all of the listing and sales data for most of the Carefree, Cave Creek and Scottsdale golf communities to see how they performed.

Below is an analysis of the homes that were on the market at the beginning of 2010. In addition to the number of homes for sale, you can see what the average asking price is, the average price per square foot the sellers are asking as well as the lowest and highest priced homes for each golf community. You can see there are golf homes available in all price points, from under $200,000 in Dove Valley Ranch and the low $200’s in Terravita to homes that start at $1,950,000 in the upscale community of Whisper Rock.

Scottsdale Golf Community Homes Janualry 2010

 

Here are the sales figures for 2009 for each of these golf communities. Again we have the number of homes, the average sales price and average price per square foot. There is another column that looks at sales price compared to list price, which is essentially the average discount a buyer paid off of the list price. Homes in Dove Valley Ranch sold for the closest amount to asking price with almost a 5% discount.

Scottsdale Golf Community Home Sales 2009

For more information on Scottsdale AZ golf communities and Scottsdale golf homes, please visit our interactive map of the golf communities, descriptions of each of the communities as well as an interactive Scottsdale zip code map.

Disclaimer:
Information herein deemed reliable but not guaranteed. Data and information was pulled from the Arizona Regional MLS (ARMLS) as of 1/1/2010 and can change at any time. The analysis looks at resale homes in the above Scottsdale, Carefree and Cave Creek communities over the last 12 months. There may be new home inventory in these figures if the developer is using the MLS to market its homes. This blog represents the opinion of the author. No warranties implied or expressed.
Copyright © 2010 Heather Tawes Nelson

Phoenix and Scottsdale AZ Luxury Condo Market – 2009 Sales Performance

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2009 was a difficult year for the luxury condo market in Scottsdale, Phoenix and Tempe, AZ. For the purposes of this analysis, the luxury condo market is being defined as condos on the market with asking prices in excess of $1,000,000. 2009 condo sales volume was way off of 2008 levels in Scottsdale and Phoenix. And in Tempe, not even one luxury condo unit sold in 2009.

There were 11 luxury condo sales in 2009. Four of the eleven sales were in the Scottsdale Waterfront Residences community located at the corner of Scottsdale Road and Camelback Road, in the heart of the Waterfront District. Two of these sales were the highest and lowest priced sales of 2009 with a two bedroom, two and one-half bathroom, 2,265 square foot unit going for $800,000 and a four bedroom, four and one-half bathroom, 4,847 square foot penthouse that sold for $2,700,000. The next community with the most sales was Esplanade Place in the Biltmore area of Phoenix with three sales ranging from $1,150,000 to $1,725,000. The Landmark in the Kierland area of North Scottsdale had two sales for $1,000,000 and $1,889,000 respectively. Two other communities, The Residences at 2211 Camelback in the Biltmore area of Phoenix and Optima Camelview in Scottsdale also had a sale each in excess of $1,000,000.

Scottsdale Phoenix Luxury Condo Sales 2009

The difference in sales numbers between 2008, with 34 sales and 2009, with 11 sales is striking. On top of significantly lower sales volume, the average sale price was down, days on market were up and units were selling for more of a discount off of list price. As a buyer in 2009, you could get almost an average of 500 additional square feet for about $100,000 less than what someone would have paid in 2008.

Luxury Condo Sales Scottsdale Phoenix 2008 versus 2009

Hopefully, 2010 will be a better year for the luxury condo market in Scottsdale, Phoenix and Tempe. At the end of 2009, there were three pending sales, so ideally this momentum will keep up throughout the year.

 

Disclaimer:
Information herein deemed reliable but not guaranteed. Data and information was pulled from the Arizona Regional MLS (ARMLS) as of 1/1/2010 and can change at any time. The analysis looks at resale condos in Scottsdale over the last 12 months. There may be new home inventory in these figures if the developer is using the MLS to market its homes. This blog represents the opinion of the author. No warranties implied or expressed.
Copyright © 2010 Heather Tawes Nelson

Desert Mountain, Scottsdale AZ – 2009 Sales Performance

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Desert Mountain Renegade Course ScottsdaleDesert Mountain, one of Scottsdale Arizona’s premier golf communities, spreads over 8,000 acres and is home to six challenging golf courses and six elegant clubhouses. Located in far North Scottsdale, Desert Mountain borders national forest land and showcases some of the most stunning valley views around.

Below is an overview of Desert Mountain’s 2009 real estate performance as well as a sales comparison between 2008 and 2009. As you can see, the number of home sales in 2009 was significantly higher than in 2008. However, even though sales volume was higher, the average sales price and price per square foot were quite a bit lower in 2009. We also saw more discounting off of asking price with sales at 86% of list price in 2009 versus 90% in 2008. The number of days on market and average home size stayed more or less the same over the two years.

 

Desert Mountain 2009 Home Sales

About Desert Mountain:
Desert Mountain is a guard-gated, 8,000 acre luxury community located in far North Scottsdale on the border of Carefree and the Tonto National Forest. There are several neighborhoods within Desert Mountain, many of them framing one of the six courses. Desert Mountain has a wonderful mixture of homes, from attached cottages to large custom homes. There are six Nicklaus golf courses on site as well as six clubhouses, a tennis complex with hard, clay and grass courts, a fitness center, miles of trails and a swim complex with multiple pools. Desert Mountain is a wonderful community with so much to offer.

View Desert Mountain Homes Less than $1,000,000
View Desert Mountain Homes from $1,000,000 – $2,000,000
View Desert Mountain Homes from $2,000,000

Disclaimer:
Information herein deemed reliable but not guaranteed. Data and information was pulled from the Arizona Regional MLS (ARMLS) as of 1/1/2010 and can change at any time. The analysis looks at home sale activity in the golf community of Desert Mountain in Scottsdale, Arizona. This blog represents the opinion of the author. No warranties implied or expressed.
Copyright © 2010 Heather Tawes Nelson

 

Greater Phoenix AZ Luxury Condo Market Performance – December 2009

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The luxury condo market in Scottsdale, Phoenix and Tempe, Arizona ended the year with a strong finish. By the end of the month, two luxury condos had sold and another three were pending. I define the luxury condo market as condos on the market with list prices in excess of one million dollars.

Inventory went down slightly to 70 over November’s 73 units for sale. Of these 70 units, the majority, 41, were in Scottsdale, 27 were in Phoenix and the remainder, 2, were in Tempe.

The two units that sold were both located in the Scottsdale Waterfront Residences community. One of them, the least expensive sale of the year in this category, was a two bedroom, two and one-half bathroom, 2,265 square foot short sale that was listed for $1,099,000 and sold for $800,000. The other sale was for a three bedroom, three bathroom, 3,472 square foot penthouse that was originally listed for $1,900,000 and sold for $1,750,000.

The three pending units are from three different communities, Optima Camelview in Scottsdale and Esplanade Place and Two Biltmore Estates in Phoenix. The unit at Optima Camelview is a brand new three bedroom, two and one-half bathroom, 2,593 square foot unit listed for $1,505,000. The Esplanade Place unit is a two bedroom, three bathroom, 3,000 square foot unit that is being sold furnished and is listed for $1,695,000. The final pending sale is a three bedroom, three and one-half bathroom, 3,890 square foot unit that is listed for $2,198,000.

Scottsdale Phoenix Luxury Condo Sales December 2009

 

Overall, December was a positive month for luxury condo sales in Scottsdale and Phoenix. Tempe did not fare as well as there was no activity once again. To learn more about the various luxury condo communities in the greater Phoenix valley, please click on the link.

 

Disclaimer: Information herein deemed reliable but not guaranteed. Data and information was pulled from the Arizona Regional MLS (ARMLS) as of 1/1/2010 and can change at any time. The analysis looks at single-family resale condos in Scottsdale, Tempe and Phoenix over the last 12 months. There may be new home inventory in these figures if the developer is using the MLS to market its homes.
Copyright © 2010 Heather Tawes Nelson

Scottsdale AZ Luxury Home Market – December 2009

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Here are  December’s numbers the Scottsdale AZ luxury home market. This analysis looks at single-family resale homes in Scottsdale with list prices of $1,000,000 and above over the last twelve months.

– December 2009 –
 
Homes Priced Between $1,000,000 – $1,499,999
– Actives: There were 241 active homes on the market at the end of December. This figure has been decreasing for the last two months. The 12 month average for active homes is 434.
– Pendings: Seventeen homes were pending at the end of the month. This was a significant drop off (29.2%) from November when there were 24 pendings. This number is well behind the 12 month average of 28.
– Sold: Only 18 homes sold in December, the lowest amount since July of 2009. The 12 month average for sales in this price segment is 20.
– Sales Price to Listed Price: 88.3% – This is on the low side for this figure. It typically stays in the high-80%’s to low-90%’s.

 

Homes Priced Between $1,500,000 – $1,999,999
– Actives: There were 230 homes on the market in this price range, a 5% drop after two months of increases. The 12 month average is 260.
– Pendings: There were 20 pending sales, which is the highest amount of pendings seen in the last 12 months. The average over the last 12 months is 14.
– Sold: Sales were also strong this month with 13, a 62.5% increase over November’s 8. This is the highest this number has been since July of 2009. The 12 month average is 9.
– Sales Price to Listed Price: 87.0% – This number is pretty representative for this price range. We did have two consecutive months in the low 90%’s, but we are now back into the 80%’s.

 

Homes Priced Between $2,000,000 – $2,999,999
– Actives: Actives were down to 238 at the end of December, ending a four month increase in inventory for this segment. The 12 month average is 283.
– Pendings: Eleven homes were pending, which is the second highest this figure has been in the last year, which was 12 in June. This tracks well ahead of the 12 month average of 8.
– Sold: There were six home sales, which was a decent showing for the end of the year. The 12 month average is 5.
– Sales Price to Listed Price: 85.8% – This is the lowest this figure has been since July. Over the last several months, this number was in the low 90%’s and high 80%’s.

Homes Priced $3,000,000+
– Actives: 143 homes priced in excess of $3M were on the market at the end of December. This was a 7.7% drop over November. The 12 month average is 194.
– Pendings: Three homes were pending, which is a major improvement over November’s single pending sale. The 12 month average is 4.
– Sold: Only one home sold in December in this price range. The 12 month average is 3.
– Sales Price to Listed Price: 87.7% -This is the second highest this ratio has been in the last year. Only June, with 90.7% did better.

As you can see, performance between the different segments varied in December. The lowest priced segment ($1,000,000-$1,499,999) performed poorly and the highest priced segment ($3,000,000+) did well on pendings, but poorly on sales. The two price ranges in the middle had strong performances to finish out the year. Inventory is down, but some of that can be attributed to the large number of listings that expired at the end of the year.

To see the detailed data behind this report, please visit my Scottsdale luxury real estate market reports page and click on the “Scottsdale Market Trends” report. For other information on the Scottsdale real estate market and the surrounding areas, please visit my Real Estate Market Reports page.

 

Disclaimer:
Information herein deemed reliable but not guaranteed. Data and information was pulled from the Arizona Regional MLS (ARMLS) as of 1/1/2010 and can change at any time. The analysis looks at single-family resale homes in Scottsdale 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 © 2009 Heather Tawes Nelson

Scottsdale AZ Single-Family Home Sales – December 2009

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December was a good month to end the year for Scottsdale AZ real estate sales. Sales were up over November and inventory declined. The one concern is that pending sales dropped below the rolling 12 month average for the first time since March 2009.

 

scottsdale home sales december 2009

 

December 2009 Findings
Active Homes for Sale: The number of homes on the market decreased over 5% to 2,755. This is the second month in a row where this number has declined. However, my guess is that a large part of the decline is due to the fact that many listings expired at the end of the month. The 12 month average is for active homes on the market is 3,220.
Pending Home Sales: Pending sales continued to drop. At the end of December, there were 438 pending sales, down 9.3% from November’s 483. This is the first time this figure has tracked behind the 12 month average of 461 pending sales since March 2009.
Homes Sold: Homes sales came in at 364, up 5.5% over November’s 345. Some of this activity can be attributed to people trying to close escrow before the end of the year. The 12 month average for home sales is 319.
Sales Price to List Price: 91.9% – This is about average for what we would expect. Homes are selling at average of 8% off of the asking price.

It was nice to see December’s sales figures go up to cap off the year. The key will be to keep inventories low and to get the pending sale pipeline strong again.

 

Disclaimer: Data and information was pulled from the Arizona Regional MLS (ARMLS) as of 1/1/2010 and can change at any time. The analysis looks at single-family 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.
Copyright © 2009 Heather Tawes Nelson

Scottsdale AZ Luxury Home Market – November 2009

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Below is a look at November’s sales activity for the Scottsdale AZ luxury home market. This analysis looks at the sales activity for single-family resale homes in Scottsdale priced at $1,000,000 and above over the last 12 months.

– November 2009 –
Homes Priced Between $1,000,000 – $1,499,999
– Actives: There were 358 homes in the market at the end of November in this price range. There was 8% drop in the number of homes on the market from October’s 389. The 12 month average is 449.
– Pendings: Pending sales were down in November to 24, compared to October’s 27. The twelve month average for this is 27, so we are tracking slightly behind.
– Sold: Twenty homes sold in November, down from the high of 29 we saw in June and September of this year. This figure is slightly ahead of the 12 month average of 19.
– Sales Price to Listed Price: 91.7% – This is pretty standard for this price range.


Homes Priced Between $1,500,000 – $1,999,999
– Actives: At the end of November, there were 242 homes for sale in this price point. This number has been steadily increasing since September when we saw a low of 212. The 12 month average is 265.
– Pendings: Eighteen homes were pending sale. This is the second highest this figure has been over the last 12 months. The 12 month average for this price range is 13.
– Sold: Eight homes sold in November, which is down from September’s 10 and October’s 12. However, this figure is tracking the same as the 12 month average of 8.
– Sales Price to Listed Price: 92.8% – After spending many months in the 80%’s, this ratio has been in the 90%’s for the last two months.


Homes Priced Between $2,000,000 – $2,999,999
– Actives: 247 homes were for sale in this price range at the end of the month. This number has been increasing since August, when there were 222 homes on the market. The 12 month average is 292.
– Pendings:  There were eight pending sales in November, the highest this figure has been since June, when there were 12. This is slightly ahead of the 12 month average of 7.
– Sold: Four homes were sold last month. This is just behind the 12 month average of 5.
– Sales Price to Listed Price: 88.3% – This is pretty typical for this price range where buyers are averaging over 10% off the asking price.


Homes Priced $3,000,000+
– Actives: There were 155 active homes on the market in excess of $3 million. This figure dipped slightly over October’s 157. The 12 month average is 206.
– Pendings: Only one home was pending sale at the end of the month, well below the 12 month average of 4.
– Sold: Two homes sold in November, which is below the 12 month average of 3. And, based on the pending figure of 1, I anticipate December’s sales to be poor.
– Sales Price to Listed Price: 77.3% – This figure is all over the place. In August, it was 64.7% and in June it was 90.7%. Because so few homes sell monthly in this price range, this ratio will experience more volatility.

November, overall, was a disappointing month for luxury home sales in Scottsdale AZ. In most cases, inventory was up (albeit slightly) and pending sales and sales were down.  And based on pending sales activity, December looks to be another lackluster month.

 

Disclaimer: Information herein deemed reliable but not guaranteed. Data and information was pulled from the Arizona Regional MLS (ARMLS) as of 12/1/2009 & 12/2/2009 and can change at any time. The analysis looks at single-family resale homes in Scottsdale 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 © 2009 Heather Tawes Nelson

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