Scottsdale Real Estate Market

Scottsdale AZ Single Family Home Sales – July 2016

August 11, 2016 By Heather Tawes Nelson

– July 2016 Scottsdale Homes for Sale and Home Sales –

Home sales in Scottsdale cooled down in July after several very strong months of sales. However, pending sales were up slightly which is good news for August.

SCOTTSDALE HOME SALES ACTIVITY – JULY 2016

Below is a graphic that charts home sales activity over the past year. It looks at three data points:

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

scotts jul 16

JULY 2016 RESULTS

Scottsdale Homes for Sale: The number of homes om the market decreased again to under 2,000. This is the lowest it has been since September 2015 and reflects seasonal patterns.
Pending Homes Sales in Scottsdale: Pending sales were up 2.6% over June to 317.
Scottsdale Home Sales: After our highest sales month in June, sales dropped over 25% to 378 in July. While it may seem like a large drop, it is in line with the seasonal slowdown we see in the Scottsdale market.

This next section looks at two more items related to the Scottsdale real estate market.

Scottsdale housing market July 2016

The top section measures how actives, pendings and solds changed relative to the month before. So, for example, the number of homes for sale at the end of July was down 9% when compared to the end of June.

The lower section measures the difference between sales and asking prices. In July, home buyers on average purchased homes for 95.3% of their list prices.
July was a transition month for Scottsdale home sales, especially after coming off of such a strong June. However, pendings were up a little bit by the end of the month, which will help August’s home sales figures.

Search Scottsdale AZ Homes for Sale

*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 8/1/2016 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

New Luxury Condo Communities Coming to Scottsdale

August 1, 2016 By Heather Tawes Nelson

Scottsdale Luxury Condo Communities Under Development

Scottsdale has several well-known upscale condo communities that have and continue to be very popular among residents. And more luxury condos are on their way.

Here are three new high-end condo developments that are under construction, but promise to bring some incredible new units to the market.

Envy

Envy is a sleek, modern and elegant community being built in Old Town Scottsdale. There will be 89 residences spread over eight floors. The contemporary design features lots of glass and large patios to capitalize on the views.

Residents will be in the heart of Old Town action, just moments away from some of the top restaurants, shopping, museums and entertainment in the area. This community is perfect for folks who want to be in the middle of all of the action in downtown.

Floorplans start with a one bedroom, one bathroom 777 square foot unit and go up to a 2,441 square foot penthouse unit with two bedrooms and two and one-half bathrooms. The sleek interiors will come with quartz counters, bespoke styling and gourmet kitchen appliances.

Amenities include a concierge service, a fully-equipped fitness center with TRX equipment and a zen garden. A decadent pool is flanked by a lounge with TVs and seating. Not to be outdone, there will be an Envy Black Label Lounge, an exclusive, upscale residents’ club.

Update February 2017: Envy now has residents living on site.

Enclave at Borgata

A little further up Scottsdale Road, south of McCormick Ranch is the Enclave at Borgata. This elegant community will have 86 units when it is completed and it is situated in a location where residents can walk to several upscale dining and shopping options.

There are several size options for owners to choose from. The smallest unit is a one bedroom that comes in a little over 1,000 square feet. On the larger end, there are three bedroom units with over 3,000 square feet and penthouses with square footage in excess of 5,000. Wolf and Asko appliances as well as quartz countertops are some of the luxurious interior appointments.

Community amenities include a pool with ample seating, outdoor fireplace and BBQ area, a fitness center, a club room with catering kitchen, a dog park and more.

Update February 2017: The Enclave at Borgata now has residents living on site.

Optima Kierland

Optima Kierland is the newest development within the Optima family. It is going up across the street from Kierland Commons and catty-corner from Scottsdale Quarter. Its great location means residents are steps away from spectacular shopping, dining and entertainment.

When complete, there will be four twelve-floor towers. The design is classic David Hovey with lots of glass and steel with lush greenery. Future residents will have plenty of options that start with one bedroom units up to four bedroom units and penthouses. Top of the line finishes and features will compliment these contemporary homes.

The amenities Optima Kierland will be offering are amazing. There will be a rooftop pool with 360 degree views and BBQ areas. The indoor/outdoor residents’ center is highlighted by a fitness center will clock in at 16,000 square feet and will feature a yoga studio, locker rooms, saunas, plunge pools and more. Add to that 24/7 concierge service, party and entertaining areas, a golf training center, basketball and squash courts and so much more.

Have Questions?

If you would like to know more about these new developments or have any questions, we are happy to help. Simply email us or call/text Joyce at (480) 209-7843.

Scottsdale Golf Communities – An Interactive Map

July 25, 2016 By Heather Tawes Nelson

North Scottsdale, Carefree and Cave Creek Golf Communities

North Scottsdale and the surrounding towns are well-known for their beautiful landscapes, amazing sunset views and desert vistas. But they are also known for their wonderful golf communities, both public and private.

If you click on the image below, you will be taken to an interactive map of these communities. And from there, you will be able to dig deeper and explore each of the communities.

In North Scottsdale, Carefree and Cave Creek there is a good mix of private and public clubs at various price points for housing and membership. And, with the exception of Desert Highlands, you do not have to join the club to live in the community, giving you flexibility if you want to live in one community, but belong to a different club.

However, for the most part, most people end up joining the club in a golf or social capacity in the community they settle on.

Already familiar with the communities and their locations? Here is a list of the communities covered with direct links to more information on each one, including homes for sale.

Private Golf Communities in North Scottsdale, Cave Creek and Carefree

Public Golf Communities in North Scottsdale, Cave Creek and Carefree

Scottsdale Golf Homes for Sale

Here are some new to market homes for sale within these communities.

Questions?

If you have questions about any of these communities or clubs, we would be happy to answer them for you. Simply email us or call/text Joyce at (480) 209-7843.

Disclaimer: All information deemed reliable, but not guaranteed. Prices and information subject to change.

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

July 19, 2016 By Heather Tawes Nelson

– June 2016 Scottsdale Housing Market Video –

June 2016 – Video

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

Active Listings

The image on the left is the number of homes for sale at the end of June.

When comparing June 2016 to June 2015, 2016 was 7% higher in inventory.

But, if you look at the same information for end of May and end of June 2016, the number of homes for sale decreased by 11%.

Median Listing Price

This next image is the median asking price for Scottsdale homes on the market. The median is the midpoint of home prices and therefore half of all homes are priced higher and half of all homes are priced lower.

In June 2016, the median list price was a little over $788,000 in Scottsdale.

This represents a $43,000 increase over June 2015’s median list price.

Days on Market

Days on Market (DOM) is a measurement to show how long homes are staying on the market before selling. As you would expect, a low number of days on market means homes are selling quickly and, conversely, a high number of days on market means a slower market. (You will also tend to see the days on market increase as the prices of homes increase, thus luxury homes almost always have a longer DOM.)

In June 2016, the average days on market in Scottsdale was 104. This is up 6% from June 2015’s 98 days.

Median Sales Price for Scottsdale Homes

Much like the median asking price, this is the median sales price. Half of all Scottsdale homes were sold for higher prices and half were sold at a lower price.

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

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

Number of Homes Sold

This last part covers home sales in June 2016 when compared to June 2015 and May 2016.

The first image is looking month-over-month in 2016. Home sales in Scottsdale in June were up 4% over May.

The next image is comparing June 2015 to June 2016. Again, sales were up in June 2016, to the tune of an 8% increase.

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 – June 2016

July 15, 2016 By Heather Tawes Nelson

– Scottsdale AZ Luxury Home Market Performance for June 2016 –

June was another very strong month for sales, especially in the under $2 million range. Inventory continued to drop and pending sales stayed solid.

This report is an overview of the luxury home segment in Scottsdale. It tracks the past 12 months of sales activity for four different price ranges in the luxury category.

Within each price range, three things are being tracked:

Active – The number of homes on the market the end of the month.
Pending – The number of pending sales at the end of the month.
Sold – The number of homes that sold.

– JUNE 2016 –

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

– Active Scottsdale Homes on the Market: Inventory was down another 8% to 310 homes. This is on par with the 12 month average.
– Pending Scottsdale Home Sales: Although pending sales dropped sharply compared to the end of May, May’s number represented a huge jump that was not typical. At the end of June, there were 24 homes pending, a very solid number.
– Scottsdale Homes Sold: Forty-four homes sold in June, by and far away the highest we have seen in the past year. The last time we saw it that high was April of 2015.
– Sales Price to Listed Price: 94.1% – On average, buyers saw a discount off of list price of 5.9%.

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

– Active Scottsdale Homes on the Market: Inventory dropped back down under 200 at the end of the month.
– Pending Scottsdale Home Sales: Pending sales fell off quite a bit to eight. This is the second lowest we have seen in the past year./
– Scottsdale Homes Sold: Sales were excellent at fifteen. This is well ahead of the 12 month average of eleven.
– Sales Price to Listed Price: 95.2% – On average, buyers saw a discount off of list price of 4.8%.

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

– Active Scottsdale Homes on the Market: Inventory dropped another 15% over the course of June to 143.
– Pending Scottsdale Home Sales: Pending sales were the highest we have seen in the past year at 16.. This is almost double the 12 month average.
– Scottsdale Homes Sold: Only six homes sold in June which is surprising based on May’s pending figure.
– Sales Price to Listed Price: 93.4% – On average, buyers saw a discount off of list price of 6.6%.

Scottsdale Homes Priced $3,000,000+

– Active Scottsdale Homes on the Market: Inventory fell almost 17% by the end of the month to 123.
– Pending Scottsdale Home Sales: Six homes were pending at the end of the month, which is where it was trending for many months prior to April.
– Scottsdale Homes Sold: There were four home sales in June. This is just ahead of the 12 month average of three.
– Sales Price to Listed Price: 92.9% – On average, buyers saw a discount off of list price of 0%.

June was another great month for luxury real estate in Scottsdale. Of note were the forty-four sales in the $1 to $1.5 million price range. Based on most pending figures, July should be another solid, but quieter month.

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 7/1/2016 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 – June 2016

July 11, 2016 By Heather Tawes Nelson

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

The luxury condo market in Scottsdale and Phoenix turned in another solid month in June, with three sales.

In this report, the luxury market is being defined as condos on the market with asking prices over $1 million.

ACTIVE LISTINGS AT THE END OF JUNE

Inventory was up by three units at the end of June, bringing the total to 43 units for sale. Thirteen of these condos were in Phoenix and the remaining thirty were in Scottsdale.

The most expensive unit for sale came onto the market last month in the Scottsdale Waterfront Residences community. It is an expansive penthouse with fantastic views and three bedrooms, three and one-half bathrooms and 3,940 square feet. It is currently listed for $4,995,000.

The least expensive luxury condo also came onto the market last month. It is a 1,940 square foot unit with three bedrooms and three bathrooms. It is listed for $1,000,600 and is located in Phoenix’s Portland on the Park community.

PENDING LUXURY CONDO SALES IN SCOTTSDALE AND PHOENIX

As June wrapped, there were eight pending sales. Two were in Scottsdale and the balance were in Phoenix. All of the pending sales are located within communities that are under construction and many of them have been on the books for months, awaiting completion.

Scottsdale Pending Sales

The two units under contract have been in that status for a while. Both homes are located in the Envy Residences community. Each of them have two bedrooms and square footage ranges between 1,764 and 1,995. Prices for these were $1,075,000 and $1,100,000.

Phoenix Pending Sales

Two Biltmore Estates ended the month with four pending sales that have been in the pipeline for quite a while. These three and four bedroom homes range in price from $1,750,000 to $3,178,000 and the square footage range is between 3,000 to 4,877.
Portland on the Park also had the same two pending homes on the books at the end of June. The two bedroom, three bathroom unit with 2,105 square feet was listed for $1,031,500. The three bedroom, three bathroom unit with 2,486 square feet was listed for $1,235,500.

LUXURY CONDO SALES FOR JUNE 2016

June saw three luxury sales over the course of the month.

Scottsdale Sales

Both sales in June were in the Optima Camelview community in downtown Scottsdale.
- The first sale was a three bedroom, two bathroom unit with 2,228 square feet. It had been listed for $1,279,000 and sold for $1,229,000.
- The second sale was a three bedroom, two bathroom unit with 2,149 square feet. It had been listed for $1,349,000 and sold for $1,300,000.

Phoenix Sales

One of the units awaiting completion at Two Biltmore Estates finally closed. It was a 3 bedroom, 3.5 bathroom home with 3,000 square feet. It had been listed for $1,750,000 and sold for over asking at $1,814,900 in a cash transaction. (The over asking price was most likely due to upgrades selected during the final construction process.)

With three sales over the course of the month, June turned in a solid performance.

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 7/1/2016 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 – June 2016

July 5, 2016 By Heather Tawes Nelson

– June 2016 Scottsdale Homes for Sale and Home Sales –

June’s home sales in Scottsdale were the highest we have seen in the past 12 months, coming in at 506. Add to that the decreased inventory and solid pending sales, and last month was a great month for the Scottsdale real estate market.

SCOTTSDALE HOME SALES ACTIVITY – JUNE 2016

Below is a chart that shows home sales activity monthly for the past year. Three things were tracked on a monthly basis.

– 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.

JUNE 2016 RESULTS

Scottsdale Homes for Sale: Inventory was down an additional 10% at the end of June. This is partially attributed to home sales and partially attributed as a seasonal dip in inventory as homes go off the market in the warmer months.
Pending Homes Sales in Scottsdale: Pending sales stayed above the 300 mark, at 309, which is a good indicator for July sales. The 12 month average for pending sales is 305.
Scottsdale Home Sales: Sales had the best month of the past year in June. We have only seen sales exceed 500 one other time in the past year and that was in April.

The next chart is comprised of two different market tracking measurements.

The first section shows the rate of change on a month-to-month basis. So, if you are looking at active homes on the market, the number of homes was down 10.1% at the end of the month when compared to the end of May.

The second section measures the average sales prices of homes versus the average list prices. In June, homes sold on average for 96.2% of their asking prices. Or, if you are looking at this information as a buyer, buyers on average saw a 3.8% discount off of asking prices.
June was an excellent month for the Scottsdale single-family homes market. Sales were the best we have seen in a year, inventory is still dropping and pending sales were solid.

Search Scottsdale AZ Homes for Sale

*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 6/1/2016 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

Easy Street – Luxury Condos Coming to Carefree

July 1, 2016 By Heather Tawes Nelson

Easy Street Luxury Community to Be Built in Carefree, Arizona

Update: This project in on indefinite hold.

Carefree, Arizona is a charming town located just to the north of Scottsdale. It is home to The Boulders Resort and has a lively shopping and dining district with events and activities going on all year long. The terrain is rolling hills and views of Black Mountain, the surrounding mountains and desert abound.

And coming to Carefree in the Fall of 2017 will be Easy Street, an upscale community of 44 condos that will have access to amazing on-site amenities as well as all that Carefree has to offer.

What sets Easy Street apart from its other luxury community counterparts in Scottsdale is its setting in a more desert-like environment and the offer of the highest-end amenities at lower average prices than seen in Scottsdale. Plus, with only 44 units, the concierge service that will be provided will more personalized.

The 44 units, ranging in price from $700K to $2.5M, will be spread over the three floors of the community. Square footage starts at 1,817 for a two bedroom plus flex room unit up to 3,600 for a four bedroom plus flex room home.

First Floor – The first floor features six condos with large private courtyards. The courtyards range in size from 400-600 square feet. On this level you will also find a gourmet coffee house, controlled access-parking and garages.
Second Floor – The second floor is home to 19 units that have 13 different floor plan options. You will also find the community pool with BBQ area, a clubhouse with catering kitchen, a wine grotto, the concierge and a fully-equipped business center.
Third Floor – This floor is also home to 19 units with the 13 different floor plan options. On this level is the fitness center with massage room and steam area. Plus, there is a golf simulator for golf enthusiasts.

Although the list of features and amenities is way too long to mention here, here are some additional highlights not mentioned above:

Ultra-luxury appointments, including Gaggenau kitchen appliances
Proximity to downtown Carefree with all of its boutiques, galleries, restaurants and packed event schedule, including multiple art and wine festivals
Energy-efficient construction and careful attention paid to abate noise transmission between homes
Community garden and greenbelt with a pet area.
Luxury pool and spa with wet bar, dining areas and towel service
Top-of-the-line appliances and standalone tubs
Clubhouse with bar, fireplace, wall-mounted TVs and entertaining areas
Full-time, on-site concierge
Storage areas and private garages available for purchase

Easy Street will redefine luxury condo living in Carefree and it residents will enjoy the elegant lifestyle it has to offer, inside and out.

Want to learn more about Easy Street? Simply contact Joyce via email or text/phone (480) 209-7843. She will be happy to walk you through the project, let you know about pre-construction incentives and answer any questions you may have.

Disclaimer: Sales by Centennial Homes, Inc. Easy Street has not been issued a Public Report yet from the Arizona Department of Real Estate yet and units are not actively for sale at this time. All details including pricing, floorplans, amenities, timing, etc. may change. All images have been shared by Easy Street for use in this post. They are artist renderings of the future project and are subject to change.