Scottsdale Real Estate Market

Scottsdale AZ Luxury Home Market – May 2019

June 28, 2019 By Heather Tawes Nelson

– Scottsdale Luxury Home Market Performance for May 2019 –

The momentum from April’s strong luxury home sales activity carried into May and it ended up posting another great month.

This report looks at the past 12 months of sales activity in the luxury home market in Scottsdale. All of these homes were priced $1 million or more. To show more detail, we have broken the data into four price ranges.

Each month, we track these for sales statuses:
Active – How many homes were for sale at the end of the month.
UCB (Under Contract Accepting Backup Offers) – How many homes were under contract, but still accepting backup offers at the end of the month.
Pending – How many homes were in pending status at the end of the month.
Sold – The number of home sales that month.

– MAY 2019 –

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

– Active Scottsdale Homes on the Market: The number of homes for sale fell slightly by the end of May. This is about where we were this year last time.
– UCB Scottsdale Home Sales: There were thirty-eight UCB homes. This is tracking well ahead of the 12 month average.
– Pending Scottsdale Home Sales: Pending sales fell in May, but again, this is ahead of the 12 month average.
– Scottsdale Homes Sold: An impressive fifty-seven homes sold in May. This is the second highest it has been in the past year.
– Sales Price to Listed Price: 96.1% – On average buyers saw a discount off of list price of 3.9%.

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

– Active Scottsdale Homes on the Market: The number of homes for sale fell a little 3.6% compared to April.
– UCB Scottsdale Home Sales: The number of UCB contracts was up by one. This is well ahead of the 12 month average.
– Pending Scottsdale Home Sales: Pending contracts fell slightly to close out May at twenty.
– Scottsdale Homes Sold: Thirty homes sold in this price point in May, making it the second highest sales month of the past year.
– Sales Price to Listed Price: 96.0% – On average, buyers saw a discount off of list price of 4%.

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

– Active Scottsdale Homes on the Market: Inventory in this price point fell very slightly.
– UCB Scottsdale Home Sales: The number of UCBs fell to nine. This is after three very strong months.
– Pending Scottsdale Home Sales: Although UCB contracts were down, pending sales were up by one. This is the highest this has been in the past year.
– Scottsdale Homes Sold: Seventeen homes in the $2 to $3 million range sold in May. This is the highest this has been in the past year.
– Sales Price to Listed Price: 92.2% – On average, buyers saw a discount off of list price of 7.8%.

Scottsdale Homes Priced $3,000,000+

– Active Scottsdale Homes on the Market: Homes for sale over $3 million were down over 8% compared to the end of April.
– UCB Scottsdale Home Sales: The number of UCB homes fell in May, but this is coming off of a very strong April.
– Pending Scottsdale Home Sales: Pending sales were up by two and this is ahead of the 12 month average.
– Scottsdale Homes Sold: Twelve homes sold in May. This is the highest we have seen in the past year and it is more than double the 12 month average.
– Sales Price to Listed Price: 94.2% – On average, buyers saw a discount off of list price of 5.8%.

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 6/1/2019 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 ©2019 Heather Tawes Nelson | Joyce Tawes

Phoenix and Scottsdale AZ Luxury Condo Sales – May 2019

June 24, 2019 By Heather Tawes Nelson

– Luxury Condo Sales in Scottsdale and Phoenix – May 2019 –

Here are the latest sales figures for the luxury condo market in Scottsdale and Phoenix. Things slowed a little bit compared to April, but there was still decent sales activity and we started to see some activity in Phoenix, which has been somewhat quiet in 2019.

ACTIVE LISTINGS AT THE END OF MAY

The number of luxury condos on the market in Scottsdale and Phoenix was down slightly to 51 at the end on May. Most of the listed condos were located in Scottsdale.

The most expensive luxury condo for sale has held this spot for several months. It is located in the Optima Kierland community in Scottsdale This 4,116 square foot unit on the 11th floor has four bedrooms and three and one-half bathrooms. The list price at the end of the month was $3,200,000.

And the least expensive luxury condo for sale is also a carryover from the past couple of months. It is a one bedroom, two bathroom, 1,586 square foot unit in Old Town Scottsdale’s Hotel Valley Ho. It was on the market for $1,047,000.

UCB* LUXURY CONDO SALES IN SCOTTSDALE AND PHOENIX

At the end of May, four luxury condos were in UCB status.

Scottsdale UCB Condos

Landmark Condominiums – This unit is a carryover from April. It had four bedrooms, three and one-half bathrooms and 3,081 square feet. It was listed for $1,350,000.
Scottsdale Waterfront Residences -This home had three bedrooms, three and one-half bathrooms and 2,503 square feet. It was listed for $1,249,000.
Plaza Lofts at Kierland – This seventh-floor loft had three bedrooms and bathrooms, incredible views and 2,884 square feet. It was on the market for $2,500,000.

Phoenix UCB Condo

Fairway Lodge at Biltmore – This unit had three bedrooms, two and one-half bathrooms and 2,329 square feet. It was on the market for $1,125,000.

*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

There were three pending sales at the end of May.

Plaza Lofts at Kierland – This unit had three bedrooms and bathrooms and 2,884 square feet. It was on the market for $2,100,000.
Fairway Lodge at Biltmore – This three bedroom, two and one-half bathroom home was on the market for $1,299,000 and had 2,992 square feet.
Two Biltmore Estates – This three bedroom, four bathroom home with 3,960 square feet was listed for $2,350,000.

LUXURY CONDO SALES IN SCOTTSDALE AND PHOENIX

May concluded with three luxury condo sales and all of them were in Scottsdale.

Plaza Lofts at Kierland – Two bedrooms, two and one-half bathrooms and 2,082 square feet. It had been listed for $1,100,000 and sold for $1,020,000.
Plaza Lofts at Kierland – Two bedrooms, two and one-half bathrooms and 2,162 square feet. It had been listed for $1,895,000 and sold for $1,865,000.
ICON at Silverleaf – Three bedrooms, three and one-half bathrooms and 3,170 square feet in the new Icon community. It was listed for $2,049,275 and sold at list price.

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 6/1/2019 and can change at any time. The analysis looks at resale luxury condos in Scottsdale and Phoenix over the past 12 months. Information deemed reliable, but not guaranteed. There may be new condo inventory in these figures if the developer is using the MLS to market its homes. This post represents the opinion of the author. No warranties express or implied.
Copyright © 2019 Heather Tawes Nelson | Joyce Tawes

New Scottsdale Condos at Optima Kierland

June 18, 2019 By Heather Tawes Nelson

– Optima Kierland Scottsdale –

Optima Kierland is one of North Scottsdale’s newest luxury condo communities. Located adjacent to Kierland Commons and across from Scottsdale Quarter, Optima Kierland is perfect for people who enjoy being able to walk to plenty of dining, shopping and entertainment options.

The first building was designed for leasing and is currently open and occupied. The second building features condos for purchase and residents have moved in and are enjoying their new homes.

Optima Kierland was developed by the Hovey’s, whose sister projects, Optima Camelview and Optima Biltmore have long been popular with residents. The stunning and unique design of these communities is easily recognizable. There is a focus on green building and the exterior landscaping is eye-catching.

The design center for Optima Kierland is located on Scottsdale Road inside the La Maison Interiors store. There, you will be able to see the upscale and modern design they have selected for these units, including European cabinetry, Bosch appliances, elegant tile selections for the floors and backsplashes and more.

The units themselves range from one bedrooms up to four bedrooms and penthouses all with private outdoor living spaces.

The amenities at Optima Kierland are outstanding.

There is a Sky Deck on the roof that contains a pool, spa, sauna along with fire pits, BBQs and lounge areas.
A catering kitchen and outdoor bar area are perfect for hosting parties.
There is also a 16,000 square foot fitness center with locker rooms, a yoga studio, on site personal training, basketball and squash courts, spa services and much more.
In addition, you will find a party room, theater room, more lounge areas and a business center.
Dog lovers will appreciate a dog park with another larger dog park coming in the future.

If you are interested in learning more about Optima Kierland or would like to take a tour, we would be happy to assist. Simply call/text 480-209-7843 or email Joyce.

Here are some Optima Kierland Homes for Sale:

Quick Video Update of the Scottsdale Real Estate Market – May 2019

June 15, 2019 By Heather Tawes Nelson

– May 2019 Scottsdale Housing Market Video –

May 2019 – Video

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

Scottsdale Active Listings

Scottsdale Homes on the market May 2019

The number of homes on the market in Scottsdale was level between May 2018 and May 2019. If we compare April to May though, active listings were down 6.2%.

Median List Price for Scottsdale Homes

Scottsdale home median list price May 2019

The median list price is the exact price midpoint for all of the homes for sale. Half are higher priced and half are priced less.

The median asking price for Scottsdale homes price in May was $919,000. This is more than May 2018’s $885,000 and also more than April 2019’s $899,000.

Days on Market

Scottsdale homes days on market May 2019

Days on Market is a quick way to test the temperature of a real estate market or market segment. It is the average number of days a home takes to sell and is also shown as DOM.

In May, the DOM came in at 94 days, one day higher than the same time last year.

Median Sales Price for Scottsdale Homes

Scottsdale homes median sale price May 2019

We sale the median list price above and now we will look at the median sales price for last month.

The median sales price for homes in Scottsdale in May was $610,000. This is up over May 2018’s $572,000 but below April 2019’s $625,000.

Number of Homes Sold

Scottsdale home sales May 2019

This final section covers home sales in Scottsdale. In May, an impressive 617 homes sold. This is up 4% from last May’s 596 homes sold.

Scottsdale housing stats May 2019

And, May 2019’s sales came in 17% above April’s sales.

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.

Interested in other stats for our market? Visit our Real Estate Market Update page.

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

Serious About Selling? 5 Steps to Make Your Home the Best on the Block

June 8, 2019 By Heather Tawes Nelson

We all want to be good neighbors. But when it comes to selling your home, it’s not just about “keeping up with the Joneses.” It’s about outshining them at every opportunity!

If you’re looking to sell your home fast and for the most money possible, you’ll need a strategy to set it apart from all the other listings competing for buyers in your area. That’s why we’ve outlined our proven, five-step plan for serious sellers.

Use these five tactics to help your listing get noticed, win over buyers, and net a higher sales price than your neighbors!

STEP 1: Stage Your Home to Show Its Full Potential

The average seller will do the minimum to prepare their home for market: clean and declutter, fix anything that’s broken, tidy up the yard… And while those tasks are essential, today’s buyers want more than just a clean house and tidy yard. When they dream of buying a new home, they envision a designer house with modern finishes. Help them see your property’s full potential by staging it.

Home staging is one of the hottest trends in real estate—because it works! According to the Real Estate Staging Association, homes that are professionally staged spend 73% less time on the market.¹

So what exactly is staging? In a broad sense, staging is the act of preparing your home for market. The goal is to highlight your home’s strengths, minimize any deficiencies, and help buyers envision themselves living in the space. When staging a home, you might rearrange the furniture to make a room feel larger or remove heavy curtains to make it appear brighter.

Some sellers choose to hire a professional home stager, who has specialized training and experience, to maximize the appeal of their home to the largest number of potential buyers. Others may opt to do it themselves, using guidance from their agent.

We can help you determine the appropriate budget and effort required to push your home ahead of the competition in your neighborhood. The good news is, an investment in staging pays off. A 2018 survey found that 85% of staged homes sold for 6-25% more than their unstaged neighbors’ homes.²

STEP 2: Draw Buyers in with High-Quality Listing Photos

You only have one chance to make a first impression with potential buyers. And many buyers will view photos of a listing before they decide whether or not to visit it in person. In fact, 87% of buyers find photos “very useful” in their home search.³ Poor-quality or amateur-looking listing photos could keep buyers from ever stepping through your door.

Since good photography plays such an important role in getting your property noticed, we only work with the top local professionals to photograph our listings. But we don’t just rely on their photography skills when it comes to showcasing your home.

We go the extra mile to ensure your listing photos showcase the true essence of your home. We’re always on site during the photo shoot to help the photographer capture the best angles and lighting, and to let them know about unique or compelling selling features that they should photograph. The extra effort pays off in the end. In fact, listings with high-quality photography sell 32% faster than the competition … and often for more money!⁴

STEP 3: Price It Properly From the Start

Even in a strong real estate market, there are homes that will sit unsold for months on end. This can be the “kiss of death” in real estate, as buyers tend to imagine that there must be something wrong with the property, even if it’s not the case.

But why are those houses still on the market in the first place? It’s because they are often priced too high.

Every buyer has a budget. And most will be viewing listings within a particular price range. If your property is overpriced, it can’t properly compete with the other houses they’re viewing that are priced correctly. Which means it will sit on the market until you’re eventually forced to drop the price.

Alternatively, if you price your home aggressively, it can be among the nicest homes that buyers have seen within their budget. This can lead to emotionally-attached buyers, who are often willing to pay a premium or settle for fewer seller concessions. And in certain markets, it can lead to a multiple-offer situation or bidding war. The end result? More money in your pocket.

We can help you determine the ideal listing price for your home in the current market. Pricing it properly in the beginning is the best way to ensure a fast and profitable sale.

STEP 4: Put on a Good Show at Each Showing

Once buyers are interested enough to schedule a visit, it’s crucial that you put on a good show at each showing.

The first step is to make your home readily available—and often on short notice—for buyers to see it. A missed showing is a missed opportunity to sell your home. If you set too many restrictions on when it’s available to view, busy buyers will simply skip over your listing and move on to the next one.

Part of making your home available means keeping it relatively show-ready as long as it’s on the market. Most of us don’t live picture-perfect lives, and our homes reflect the day-to-day reality of our busy (and sometimes messy) families. But a little extra effort spent keeping your home clean, fresh-smelling, and ready for buyers will help it sell faster … which means you can get back to your regular routine as quickly as possible!

STEP 5: Use a Proven Promotion Plan

Most agents are still marketing their listings like they did 20 years ago … put a sign in the yard, put the listing in the MLS, and pray that it sells. Yet, we know that 93% of buyers search for real estate listings online.³

That’s why we invest in the latest training and technology—to ensure your listing appears in the places where buyers are most likely to look. Our dual-level promotion strategy includes both pre-launch activities designed to seed the marketplace and post-listing activities to ensure your home stays top-of-mind with potential buyers.

By utilizing online and social marketing platforms to connect with consumers and offline channels to connect with local real estate agents, your property gets maximum exposure to prospective buyers.

LET’S GET MOVING
Are you thinking about listing your home? Get a head start on your competition! Contact us for a copy of our Home Seller’s Guide, which offers a complete guide to the home selling process. Or call us to schedule a free no-commitment consultation or home valuation report. We’d love to put together a custom plan to maximize the sales potential of your property.

Sources:

Real Estate Staging Association – https://www.realestatestagingassociation.com/content.aspx?page_id=22&club_id=304550&module_id=164548
Home Staging Resources –
https://www.homestagingresources.com/2018-home-staging-statistics/
National Association of Realtors –
https://www.nar.realtor/sites/default/files/documents/2018-real-estate-in-a-digital-world-12-12-2018.pdf
RIS Media –
https://rismedia.com/2018/12/12/shocking-stats-importance-photography-real-estate/

Scottsdale AZ Single Family Home Sales – May 2019

June 4, 2019 By Heather Tawes Nelson

– May 2019 Scottsdale Homes for Sale and Home Sales –

The pace of home sales in Scottsdale was fantastic in May. where we saw incredible sales activity.

SCOTTSDALE HOME SALES ACTIVITY – MAY 2019

We track each of these items on a monthly basis:

– Single-family homes for sale – Orange Line – How many homes were on the market at the end of the month.*
– Under contract, but accepting backup offers (UCB) – Gray Line – How many homes were in UCB status at the end of the month.*
– Pending home sales – Yellow Line – How many homes were pending sales at the end of the month.*
– Home Sales – Blue Line – The number of homes sold that month.

MAY 2019 RESULTS

Scottsdale Homes for Sale: The number of homes on the market fell due to strong sales and fewer homes going onto the market during the summer months.
UCB (Under contract, accepting backup offers): UCB contracts fell by 25 to close out may at 325. This is still a strong performance though.
Pending Homes Sales in Scottsdale: Pending sales also fell slightly to 340. This is the second highest pendings have been in the past year.
Scottsdale Home Sales: 613 homes sold in May. This is the highest I have seen this figure since I started monthly tracking in September of 2007.

This next set of figures contains two other metrics we track on a monthly basis.

The first metric shows how each of the items has changed on a month-to-month basis. For instance, sales were up 15.9% between the end of April and the end of May.

The second metric is Sales Price to List Price. This is a quick way to see how much homes are selling for relative to their list prices. In May, it was 96.4% So, on average, buyers were able to get their homes for a 3.6% discount off of list price.

*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.

Curious about your buying power? Click on the link to learn more.

Disclaimer: Data and information were pulled from the Arizona Regional MLS (ARMLS) as of 6/1/2019. 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 © 2019 Heather Tawes Nelson | Joyce Tawes

Scottsdale AZ Luxury Home Market – April 2019

May 28, 2019 By Heather Tawes Nelson

– Scottsdale Luxury Home Market Performance for April 2019 –

The Scottsdale luxury home market enjoyed an excellent month in April. Sales were very strong and the pipeline of homes under contract was also quite good.

This report dives into Scottsdale’s luxury home market. All of these homes are priced at $1 million or more. To show additional detail, the sales figures have been split into four price ranges.

We track these four items on a monthly basis:
Active – The number of homes on the market at the end of the month.
UCB (Under Contract Accepting Backup Offers) – The number of homes that were under contract, but still accepting backup offers at the end of the month.
Pending – The number of pending sales at the end of the month.
Sold – How many homes sold during the month.

– APRIL 2019 –

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

– Active Scottsdale Homes on the Market: Inventory was up to 269 at the end of the month, just slightly ahead of the 12 month average.
– UCB Scottsdale Home Sales: Thirty-nine homes were in UCB status at the end of April, down one from March.
– Pending Scottsdale Home Sales: Pending sales were up again to 40. This is the highest is has been in the past year.
– Scottsdale Homes Sold: Sales jumped to 49 in April. This is still trailing behind where we were last year at the same time, though.
– Sales Price to Listed Price: 95.4% – On average buyers saw a discount off of list price of 4.6%.

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

– Active Scottsdale Homes on the Market: The number of homes for sale fell 9% between March and April.
– UCB Scottsdale Home Sales: UCB contracts were level with March at nineteen.
– Pending Scottsdale Home Sales: Pending home sales saw a healthy 37.5% increase. This is the highest this has been in the past year.
– Scottsdale Homes Sold: Home sales also saw a huge (82.4%) jump in April.
– Sales Price to Listed Price: 95.4% – On average, buyers saw a discount off of list price of 4.6%.

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

– Active Scottsdale Homes on the Market: The number of homes for sale stayed level with the previous month.
– UCB Scottsdale Home Sales: UCB contracts also stayed level.
– Pending Scottsdale Home Sales: Pending sales were up 28.6% and this was the highest we have seen them in the past 12 months.
– Scottsdale Homes Sold: Fifteen homes sold in April. This is down over March and this price point was the only one to see a decrease in sales.
– Sales Price to Listed Price: 93.7% – On average, buyers saw a discount off of list price of 6.3%.