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Scottsdale Real Estate Market

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

Greater Phoenix AZ Luxury Condo Market Performance – November 2009

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Here are the figures for the Luxury Condo Market in Scottsdale, Phoenix and Tempe, Arizona for the month of November 2009. The luxury condo market is defined as condos for sale with list prices in excess of $1 million.

Inventory has been increasing over the last few months. In September, there were 65 units for sale valleywide and in October, there were 68. By the end of November, there were 73 units on the market priced in excess of $1 million. Scottsdale had the highest number of units on the market with 37, followed closely by Phoenix with 30 and then Tempe, with 6.

November was a positive month for luxury condos. At the end of the month two units had sold and two units were pending. The two sales were in luxury developments in Scottsdale. One of them was a two bedroom, two bathroom, 2,566 square foot unit at The Landmark near Kierland for $1 million even. The second sale was at Optima Camelview and it was a brand new, three bedroom, two bathroom, 3,217 square foot penthouse for $1,610,000.

The pending sales were split between Scottsdale and Phoenix. One of the units is located at the Scottsdale Waterfront. It is a three bedroom, three and one-half bathroom, 2,500 square foot unit listed for $1,399,000. The other pending sale is at Esplanade Place in Phoenix and is a two bedroom, three bathroom, 3,000 square foot unit listed for $1,695,000.

Scottsdale Phoenix Luxury Condo Sales November 2009

Click to learn more about the various luxury condo communities in the greater Phoenix valley.Again, November was a good month for the luxury condo market in Scottsdale, Phoenix and Tempe. Ideally, the two pending sales will close escrow in December, allowing a strong ending to the year.

Disclaimer: Information herein deemed reliable but not guaranteed. Data and information was pulled from the Arizona Regional MLS (ARMLS) as of 12/1/2009 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 © 2009 Heather Tawes Nelson

Scottsdale AZ Single-Family Home Sales – November 2009

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Here are November’s figures for the Scottsdale AZ real estate market. This monthly analysis looks at the resale market in Scottsdale for single-family homes.

November was not the strongest month for Scottsdale real estate. We did see inventory decrease slightly, which is good, but pending sales and actual home sales continued to drop off. On a positive note though, all of the figures are tracking at a better rate than the 12 month average.

 

SCOTTSDALE AZ HOME SALE ACTIVITY – NOVEMBER 2009

Scottsdale AZ Home Sales November 09

 

November 2009 Findings
Active Homes for Sale: The number of homes on the market decreased slightly to 2,910, down from October’s 2,917. This is the first time we have seen this number go down month over month since August. The 12 month average is 3,306.
Pending Home Sales: Pending sales dropped below the 500 range for the first time since April of this year. At the end of November, there were 483 pending home sales.  The high in pending sales came in June when there were 574. The 12 month average for pending sales is 442.
Homes Sold: The number of homes sold in November was down slightly to 345, off 6 from September and October’s 351 sales respectively. The 12 month average for home sales is 308.
Sales Price to List Price: 94.0% – This is the highest this figure has been in the last twelve months, meaning homes in Scottsdale were selling for an average of 6% off of the asking price.

Overall, November was a lackluster month for Scottsdale AZ real estate. Sales dropped off slightly, but the drop in pending sales is disappointing and will definitely have an impact on December’s figures. The one positive is that the number of homes for sale did decrease slightly.

 

 

Disclaimer: 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 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 Golf Community Sales Update – Through October 2009

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Here is an overview of the sales activity for 2009 for the Scottsdale AZ Golf Communities. This list is not exhaustive, but it covers many of the major golf communities in Scottsdale, Carefree and Cave Creek.

Typically, I look at the communities on an individual basis, but in this case, I wanted to see how the different communities stack up side-by-side. As you can see, there is a wide variance in pricing and sales data depending on the community. These communities represent the top luxury private golf communities and well as some others that have more affordable homes and are built around a public or semi-public golf course.

Golf membership varies by community. Some communities require membership as a prerequisite of property ownership. For others, membership is optional or by invitation only. For example, many homes and lots at Desert Mountain with its six Jack Nicklaus courses come with Deferred Equity Golf Memberships included in the price.

The first chart looks at homes on the market in the various communities as of November 1, 2009. The second chart looks at home sales in the communities between January 1, 2009 through October 31, 2009.

LISTING DATA
Community Location  Number of Homes for Sale Average Asking Price Average Asking Price/Sq. Foot Lowest Asking Price Highest Asking Price
Ancala Scottsdale – East 54 $1,821,318 $313.16 $445,900 $7,795,000
The Boulders Scottsdale/Carefree 41 $1,165,146 $330.17 $478,000 $2,995,000
DC Ranch Scottsdale – North 116 $1,175,643 $307.00 $198,900 $5,195,000
Desert Highlands Scottsdale – North 55 $1,819,345 $367.86 $729,900 $4,995,000
Desert Mountain Scottsdale – Far North 216 $2,511,450 $434.74 $495,000 $12,900,000
Dove Valley Ranch Cave Creek 29 $363,643 $150.14 $215,000 $699,000
Estancia Scottsdale – North 22 $3,770,045 $578.00 $1,395,000 $15,000,000
Grayhawk Scottsdale – North 77 $930,901 $257.75 $243,900 $2,950,000
Legend Trail Scottsdale – Far North 36 $614,325 $223.34 $305,000 $1,050,000
Mirabel Club Scottsdale – Far North 35 $1,993,371 $386.28 $450,000 $5,750,000
Rancho Manana Cave Creek 9 $837,667 $244.06 $400,000 $1,750,000
Silverleaf Scottsdale – North 59 $3,854,576 $562.27 $975,000 $10,500,000
Terravita Scottsdale – North 46 $568,935 $247.45 $274,900 $1,075,000
Troon North Scottsdale – North 76 $1,107,308 $267.87 $335,000 $3,950,000
Troon Village Scottsdale – North 59 $1,434,939 $305.76 $398,000 $6,850,000
Whisper Rock Scottsdale – North 20 $2,735,400 $462.34 $1,599,000 $4,250,000

 

SOLD DATA        
Community Location  Number of Homes Sold 2009 Average Sales Price 2009 Average Price/Sq. Foot Sold 2009
Ancala Scottsdale – East 24 $1,062,000 $228.30
The Boulders Scottsdale/Carefree 18 $907,306 $232.18
DC Ranch Scottsdale – North 120 $602,477 $213.60
Desert Highlands Scottsdale – North 14 $1,579,929 $324.31
Desert Mountain Scottsdale – Far North 51 $1,809,569 $327.17
Dove Valley Ranch Cave Creek 70 $289,524 $125.00
Estancia Scottsdale – North 9 $1,850,000 $348.71
Grayhawk Scottsdale – North 91 $638,125 $210.48
Legend Trail Scottsdale – Far North 23 $437,779 $206.26
Mirabel Scottsdale – Far North 6 $1,745,000 $321.37
Rancho Manana Cave Creek 2 $627,500 $171.00
Silverleaf Scottsdale – North 19 $2,578,453 $406.73
Terravita Scottsdale – North 50 $495,269 $213.24
Troon North Scottsdale – North 50 $801,316 $210.85
Troon Village Scottsdale – North 60 $900,983 $214.41
Whisper Rock Scottsdale – North 6 $1,905,833 $312.75

To see where these communities are located on a map or to see homes for sale in any of them, please visit my Interactive Map of Scottsdale AZ Golf Communities.

 

Disclaimer: Information herein deemed reliable but not guaranteed. Data was pulled from the Arizona Regional MLS (ARMLS) as of 11/1/09 can change at any time. This blog represents the opinion of the author. No warranties implied or expressed.
Copyright © 2009 Heather Tawes Nelson

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