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Scottsdale Real Estate Market

Scottsdale AZ Single Family Home Sales – September 2016

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– September 2016 Scottsdale Homes for Sale and Home Sales –

September was a quiet month for Scottsdale home sales. Inventory saw a jump of over 6% while pendings and sales fell. This decline in sales activity, however, is on par with seasonal patterns.

SCOTTSDALE HOME SALES ACTIVITY – SEPTEMBER 2016

The chart below shows the past year of home sales in Scottsdale. Three categories are being tracked:

– Single-family homes for sale are shown in red.*
– Pending home sales are shown in green.*
– Home Sales are shown in purple.

SEPTEMBER 2016 RESULTS

Scottsdale Home Sales September 2016

  • Scottsdale Homes for Sale: The number of homes for sale was up 7.3% over August. Typically, we see the inventory decrease or stay level at this time of year. So, this is one item I will be tracking more closely.
  • Pending Homes Sales in Scottsdale: The number of pending sales fell over 5% to 273 at the end of August.
  • Scottsdale Home Sales: After the nice bump in August, home sales fell to 403 in September. It is nice to see that they stayed over the 400 mark though.

The next two charts show two other things I measure monthly with regards to Scottsdale home sales.

Scottsdale housing market September 2016

The first additional thing I track in the rate of change on a month over month basis. For instance, home sales were down 9.6% between August and September.

The next one is sales prices in comparison to list prices. This measures how much homes on average sold for in the context of the average asking price and in September, it was 96.4%. Or, looking at it another way, buyers received a 3.6% discount on average off of list prices.

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*Figures for active homes for sale and pending sales are based on the numbers at the end of the month.

Disclaimer: Data and information were pulled from the Arizona Regional MLS (ARMLS) as of 10/1/2016 and can change at any time. The analysis looks at single-family resale homes for sale and home sales in Scottsdale AZ over the last 12 months. 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 © 2016 Heather Tawes Nelson | Joyce Tawes

Quick Video Update of the Scottsdale Real Estate Market – August 2016

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– August 2016 Scottsdale Housing Market Video –

August 2016 – Video

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

 

 

Active Listings

Scottsdale homes for saleThis first image shows Scottsdale’s housing inventory at the end of August.

As you can see, it was down 8% when compared to the end of July. This is in line with seasonal patterns.

When you compare August 2016 to August 2015 (the first column), inventory was down 1%.

 

 

 Median Listing Price

Scottsdale median home pricesThis second image shows the median list price for homes in Scottsdale. If you are not familiar with it, the median is the exact middle point. So half of the homes are priced higher and half of them are priced lower.

In August, the median list price came in just under $790K. This is quite a bit higher than August 2015’s $715K.

 

 

 

Days on Market

Days on Market (DOM) is a measure to see how quickly homes are selling in a given market. Low days on market indicate a fast-selling market, (demand high), and high days on market, (demand low), means homes are sitting longer before selling.

Days on Market came in at 112 for August 2016. This is up 7% from August 2015’s 105 days,

 

 

 

Median Sales Price for Scottsdale Homes

Scottsdale median home sale priceHere are median sales prices for Scottsdale homes. Similar to median listing prices, half of homes sold for a higher amount and half of homes sold for a lower amount.

August 2016’s median sales price was a little over $460K.

This is coming in lower than August 2015’s $465K and July 2016’s $510K.

 

 

Number of Homes Sold

Scottsdale home sales 2015 vs 2016These final two images look at the home sales that took place in Scottsdale. The top one is comparing 2015 to 2016 and the lower one is comparing July and August 2016.

Sales in August 2016 were up 17% over August 2015. This is a big jump, especially in a quieter time of year.

 

 

 

Scottsdale home sales by monthAnd month over month, we saw an 18% increase, another excellent performance.

 

 

 

 

We hope that you found this video and commentary helpful as you gather more information to make smart informed real estate decisions.

For more Scottsdale real estate information or if you have any questions about the local area, feel free to contact Joyce at (480) 209-7843 or Joyce@LiveBetterinScottsdale.com.

Click to watch other videos on our Live Better in Scottsdale YouTube Channel

 

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

Scottsdale AZ Luxury Home Market – August 2016

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– Scottsdale AZ Luxury Home Market Performance for August 2016 –

August was a decent month for the under $2 million market, but the $2-$3 million market saw a drop in sales.

This monthly report takes a look at the real estate market activity of homes in Scottsdale priced over $1 million. To show how each segment of the market is performing, I have broken the information into four price bands:

Active –  The number of homes for sale at the end of the month.
Pending  – The number of pending sales at the end of the month.
Sold –  The number of homes that sold during the month.


– AUGUST 2016 –

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

– Active Scottsdale Homes on the Market: Inventory was down slightly at the end of the month to 273. This is in line with seasonal trends.
– Pending Scottsdale Home Sales: Pending sales came in at 20, less than the 12 month average of 24.
– Scottsdale Homes Sold: Sales saw a nice rebound after a drop off in July. 33 homes sold in August, well ahead of the 12 month average of 26.
– Sales Price to Listed Price: 93.6% – On average, buyers saw a discount off of list price of 6.4%.

Scottsdale Home Sales Between $1 and $1.5 million August 2016

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

– Active Scottsdale Homes on the Market:  Inventory continued its seasonal decline to 153 by the end of August.
– Pending Scottsdale Home Sales: Pending sales were up over the past two months to 10.
– Scottsdale Homes Sold: Sales were up over the previous month to 10, just behind the 12 month average of 12.
– Sales Price to Listed Price: 93.3% – On average, buyers saw a discount off of list price of 6.7%.

Scottsdale Home Sales Between $1.5 and $2 million August 2016

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

– Active Scottsdale Homes on the Market: Inventory actually increased in this price range in August. However, it is still well below the 12 month average of 175.
– Pending Scottsdale Home Sales: Pending sales were up by one to seven.
– Scottsdale Homes Sold: Sales saw a big drop in August, coming off of a very strong July. Only three homes sold, well below the 12 month average of 8.
–  Sales Price to Listed Price: 89.8% – On average, buyers saw a discount off of list price of 10.2%.

Scottsdale Home Sales Between $2 and $3 million August 2016

Scottsdale Homes Priced $3,000,000+

– Active Scottsdale Homes on the Market: The number of homes for sale dropped slightly in August to 108.
– Pending Scottsdale Home Sales:  Pending sales came in strong at 8, ahead of the 12 month average.
– Scottsdale Homes Sold:  Three homes sold, which is solid for this price point.
– Sales Price to Listed Price: 91.1% – On average, buyers saw a discount off of list price of 8.9%.

Scottsdale Home Sales Over $3 Million August 2016

August was a decent month for the luxury home segment, in lieu of the fact that this is the slower time of year for activity.

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 was pulled from the Arizona Regional MLS (ARMLS) as of  9/1/2016 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 © 2016 Heather Tawes Nelson | Joyce Tawes

Phoenix and Scottsdale AZ Luxury Condo Sales – August 2016

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– Luxury Condo Sales in Scottsdale and Phoenix – August 2016 –

August was a very quiet month for the luxury condo market in Scottsdale and Phoenix. However, this is a lull we see on a seasonal basis, versus a turn in the market.

In this analysis, I am looking at the sales activity of condos with list prices of $1 million or more.

Scottsdale Phoenix luxury condo sales August 2016

ACTIVE LISTINGS AT THE END OF AUGUST

Inventory at the end of August was the same as it was at the end of July. Of the 35 units for sale, 24 were located in Scottsdale and 11 were located in Phoenix,

The highest priced condo on the market has held this spot for a couple of months now. Priced at just under $5 million, the Scottsdale Waterfront Residences penthouse has 3,940 square feet, three bedrooms and three and one-half bathrooms. As to be expected, the views of downtown Scottsdale and he surrounding valley are astounding.

And, the lowest priced luxury condo, coming in at $1,000,600, it also a carryover. Located in Portland on the Park, it comes with 1,940 square feet, three bedroom and three bathrooms.

PENDING LUXURY CONDO SALES IN SCOTTSDALE AND PHOENIX

There were seven condos in pending status at the end of August and all of them have been in this status for many months as they are awaiting completion of construction.

Scottsdale Pending Sales

  • Envy Residences is home to the single pending sale in Scottsdale. This unit is listed for $1,100,000 and has two bedrooms, two and one-half bathrooms with 1,764 square feet.

Phoenix Pending Sales

  • Two Biltmore Estates had four pending sales of its three and four bedroom units. The square footage for these ranged between 3,950 to 4,877 and prices ranged from $2,148,000 to $3,178,000.
  •  Portland on the Park also had the same two pending sales.  The first was a two bedroom, three bathroom, 2,105 square foot unit priced at $1,031,500. The second was a three bedroom, three bathroom, 2,486 square foot unit priced at $1,235,500.

LUXURY CONDO SALES FOR AUGUST 2016

There was a single sale in August. One of the units at Envy that had been pending for a very long time finally closed. It was a two bedroom, two and one-half bathroom condo with 1,764 square feet. It had been on the market for $1,100,000 and closed for $999,900.

 

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 was pulled from the Arizona Regional MLS (ARMLS) as of 9/1/2016 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 © 2016 Heather Tawes Nelson | Joyce Tawes

Scottsdale AZ Single Family Home Sales – August 2016

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– August 2016 Scottsdale Homes for Sale and Home Sales –

August was an interesting month for Scottsdale home sales. We saw the number of homes on the market and pending sales dip, which are both seasonal occurrences. However, sales saw a very healthy jump, even though pendings from the previous month were not that high.

SCOTTSDALE HOME SALES ACTIVITY – AUGUST 2016

Below is a chart mapping the past 12 months of sales activity for the Scottsdale housing market.

– Single-family homes for sale are depicted by the red line.*
– Pending home sales are depicted by the green line.*
– Home Sales are depicted by the purple line.

Scottsdale Home Sales August 2016

AUGUST 2016 RESULTS

  • Scottsdale Homes for Sale: The inventory of homes for sale dropped 5.8% over the end of July to come in at 1,824.
  • Pending Homes Sales in Scottsdale: Pending sales also saw a seasonal drop to under 300. This implies we will most likely see a slow sales month in September.
  • Scottsdale Home Sales: Sales had an unexpected and impressive rebound in August. 446 homes sold, an 18% improvement over July. This was interesting as we headed into the month with only 317 pending sales.

This next set of information has two components.

Scottsdale Home Sales Pace 2016

The top numbers are how active, pending and sold homes performed relative to the previous month. So, for example, pending sales were down 9.1% between the end of July and the end of August.

The lower section is a measure called sales price to list price. Here, what homes sold for compared to what they were on the market for is being measured. In August, homes sold on average for 95.6% of their asking price. Or, looking at it another way, buyers on average saw a 4.4% discount off of asking prices.

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*Figures for active homes for sale and pending sales are based on the numbers at the end of the month.

Disclaimer: Data and information were pulled from the Arizona Regional MLS (ARMLS) as of 9/1/2016 and can change at any time. The analysis looks at single-family resale homes for sale and home sales in Scottsdale AZ over the last 12 months. 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 © 2016 Heather Tawes Nelson | Joyce Tawes

Quick Video Update of the Scottsdale Real Estate Market – July 2016

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– July 2016 Scottsdale Housing Market Video –

July 2016 – Video

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

 

Active Listings

This first part shows the number of homes on the market in July.

When compared to the same time in 2015, inventory was up 7%.

However, if you compare this to the end of June, inventory was down 11%. This is a seasonal dip.

 

 

 Median Listing Price

To the left is the median list price. The median represents the middle of all home prices, where half of the homes are priced higher and half are priced lower.

The median asking price in July was just under $790K. This is up quite a bit over July 2015’s $725K.

 

 

 

Days on Market

Days on Market (DOM) takes a look at how quickly homes are selling. A large number of days indicates a slower market and a small number of days means that things are moving.

You also tend to see a high DOM for luxury homes as there are fewer qualified buyers for these homes and it takes a little longer for them to sell.

In July 2016, DOM came in at 104 days. This is up from July 2015’s 98 days.

 

Median Sales Price for Scottsdale Homes

This chart shows the median sales price of homes.

The median sales price for July 2016 ended up at over $513,000.

This is higher than July 2015’s $475,000 median list price, but was slightly lower than May’s $519,900.

 

 

Number of Homes Sold

This last section looks at home sales two ways. The first is year-over-year and the second is month-over-month performance.

Sales in July 2016 were up 8% over July 2015.

 

 

 

And if you look at it on a month-over-month basis, sales were up 4% from June 2016.

 

 

 

 

We hope that you found this video and commentary helpful as you gather more information to make smart informed real estate decisions.

For more Scottsdale real estate information or if you have any questions about the local area, feel free to contact Joyce at (480) 209-7843 or Joyce@LiveBetterinScottsdale.com.

Click to watch other videos on our Live Better in Scottsdale YouTube Channel

 

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

Scottsdale AZ Luxury Home Market – July 2016

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– Scottsdale AZ Luxury Home Market Performance for July 2016 –

July was a transition month for Scottsdale’s luxury home market. Some segments saw a slow down while others continued strong momentum.

This analysis covers luxury home sales activity in Scottsdale. I am defining this market as homes priced in excess of $1 million and have divided the data into four price bands. In each price band, you will see information on the following three items:

Active –  How many homes were on the market the end of the month.
Pending – How many sales were pending at the end of the month.
Sold –  How many homes sold during the month.


– JULY 2016 –

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

– Active Scottsdale Homes on the Market: As anticipated, the number of homes on the market decreased as we moved further into the summer months.
– Pending Scottsdale Home Sales: Pending sales were very respectable at 27, which is ahead of the 12 month average of 24.
– Scottsdale Homes Sold: Sales were very far off of June’s, but June saw unprecedented sales numbers. Even with that, only sixteen sales in July was not very strong.
– Sales Price to Listed Price: 94.0% – On average, buyers saw a discount off of list price of 6%.

Scottsdale Home Sales Between $1 and $1.5 Million July 2016

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

– Active Scottsdale Homes on the Market:  The number of homes for sale dropped again to 159. This is in line with local seasonality.
– Pending Scottsdale Home Sales: Pending sales were steady at eight. This is lower than we usually see, but this is also the slower part of the year.
– Scottsdale Homes Sold: Sales fell quite a bit from months of double-digits to eight. Again, this can be attributed to seasonality.
– Sales Price to Listed Price: 93.2% – On average, buyers saw a discount off of list price of 6.8%.

Scottsdale Home Sales Between $1.5 and $2 Million July 2016

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

– Active Scottsdale Homes on the Market: Inventory fell 7.7% to 132, well below the 12 month average of 174.
– Pending Scottsdale Home Sales: Pending sales dropped significantly after several strong months. This can be tied to the slower months.
– Scottsdale Homes Sold: Sales were excellent in July, coming in as the second highest sales month in the past year.
–  Sales Price to Listed Price: 89.4% – On average, buyers saw a discount off of list price of 10.6%.

Scottsdale Homes Priced $3,000,000+

– Active Scottsdale Homes on the Market: The number of homes for sale dropped to the second lowest it has been in the past year.
– Pending Scottsdale Home Sales:  Seven homes were in pending status at the end of July. This is a strong number for this time of year.
– Scottsdale Homes Sold:  We saw a second month of four home sales. This is  on par with the 12 month average.
– Sales Price to Listed Price: 89.7% – On average, buyers saw a discount off of list price of 10.3%.

Scottsdale Home Sales Over $3 Million July 2016

July had a mixed performance. Inventory dipped as would be expected for this time of year. Pendings were mostly off  – also a nod to seasonality. However, sales in the $2-$3 million range were quite strong.

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 was pulled from the Arizona Regional MLS (ARMLS) as of  8/1/2016 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 © 2016 Heather Tawes Nelson | Joyce Tawes

Phoenix and Scottsdale AZ Luxury Condo Sales – July 2016

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– Luxury Condo Sales in Scottsdale and Phoenix – July 2016 –

July was a quiet month for the Scottsdale and Phoenix luxury condo market. Inventory dipped as sellers took their homes off of the market during the low season and there was only a single sale.

I am defining the luxury condo market in this report as condos for sale with list prices that exceed $1 million.

 

Luxury Condo Sales Scottsdale July 2016

ACTIVE LISTINGS AT THE END OF JULY

Inventory fell to 35 units, down from 43 at the end of June. Most of the units for sale, 24, were in Scottsdale and the remaining 11 were located in Phoenix,

The most expensive unit for sale was one that was new to the market in last month’s report. This amazing penthouse is located in the Scottsdale Waterfront Residences  and has three bedrooms, three and one-half bathrooms and 3,940 square feet. The views from this home are fantastic and the list price is $4,995,000.

The least expensive luxury condo for sale is also the same as last month. Priced at $1,00,600, it is three bedroom, three bathroom condo with 1,940 square feet in Phoenix’s Portland on the Park community.

PENDING LUXURY CONDO SALES IN SCOTTSDALE AND PHOENIX

As July wrapped, the eight pending sales from last month (and many previous months) were still in the pipeline. Six of them were located in Phoenix and the last two were in Scottsdale. All of these units have been in pending status for many months as they are currently under construction.

Scottsdale Pending Sales

  • The upcoming Envy Residences is where the two pending Scottsdale units are located. Both units have two bedrooms and the square footage is 1,764 for one and 1,995 for the other. List prices for the units were $1,075,000 and $1,100,000.

Phoenix Pending Sales

  • Two Biltmore Estates continued to have four units under contract. They were three and four bedroom units. The square footage ranged from 3,000 to 4,877 and prices ranged from $1,750,000 to $3,178,000.
  •  Portland on the Park also continued to have the same pending sales. One was a 2,105 square foot unit with two bedrooms and three bathrooms. The asking price was $1,031,500. The other was a 2,486 square foot condo with three bedrooms and three bathrooms. It was listed for $1,235,500.

LUXURY CONDO SALES FOR JULY 2016

There was only one sale in July for this market segment. The sale took place in Optima Camelview, located in Downtown Scottsdale. This home had 1,944 square feet and two bedrooms and two and one-half bathrooms. The asking price was $1,179,000 and it sold for $1,150,000.

Again, July was a quiet month for luxury condo sales in Phoenix and Scottsdale, but that is not unusual as this tends to be a time of year when sales activity is slower.

 

 

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 was pulled from the Arizona Regional MLS (ARMLS) as of 8/1/2016 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 © 2016 Heather Tawes Nelson | Joyce Tawes

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