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

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– September 2016 Scottsdale Housing Market Video –

September 2016 – Video

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

 

 

Active Listings

This first section is a representation of the number of homes for sale in Scottsdale at the end of the month.

Inventory was up 2% when compared to the same time last year. And, it was up 5% compared to the end of August.

 

 

 

 Median Listing Price

This next chart covers the median list price of homes. The median list price is a good measurement to track as it represents the exact middle of home prices, with half being priced higher and half being priced lower.

September’s median list price came in right at $800,000. This is up a good amount from September 2015’s median asking price of $749K.

 

 

Days on Market

Days on Market (DOM) takes a look at how long it takes homes to sell. If the market is hot, you will see low days on market and conversely, if the market is slow, this number goes up.

In September, DOM clocked in at 105 days. This is up 14% over last September’s 92 days.

 

 

 

Median Sales Price for Scottsdale Homes

Now we will take a look at the median sales prices in Scottsdale. This is the same kind of measure as above, but this time we are looking at sales prices versus asking prices.

The median sales price in September came in at a healthy $493K, outperforming September 2015’s $478K and August 2016’s $460K.

 

 

 

Number of Homes Sold

Now we will take a look at home sales activity in Scottsdale. The top image shows this information comparing September 2015 and 2016 and the lower image shows the August to September 2016 information.

Sales in September were up 3% over the same time period in 2015.

 

 

However, after a strong August, we saw sales drop by 8% in September.

 

 

 

 

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 – September 2016

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– Scottsdale AZ Luxury Home Market Performance for September 2016 –

September saw sales slow slightly in the under $2 million range, but home sales above that were stronger.

This report provides an overview of the sales activity in the Scottsdale luxury home market. All of the homes are priced a $1 million or more. And to show additional detail, this activity has been split into four price ranges.

Active –  How many homes were for sale at the end of the month.
Pending  – How many pending sales there were at the end of the month.
Sold –  How many homes sold over the month.


– SEPTEMBER 2016 –

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

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

– Active Scottsdale Homes on the Market: Inventory was up almost 10% over August. We typically see this stay somewhat level during the slower months, but it is still lower than the 12 month average.
– Pending Scottsdale Home Sales: Pending sales were up by one to 21 at the end of the month.
– Scottsdale Homes Sold:  Home sales slipped 12% to 29, but this is still 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 Homes Priced Between $1,500,000 – $1,999,999

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

– Active Scottsdale Homes on the Market:  Inventory in this price point jumped over 20% between August and September, putting it close to the 12 month average of 193.
– Pending Scottsdale Home Sales: Pending sales fell by one to nine.
– Scottsdale Homes Sold: Sales fell to seven, which is the lowest we have seen since October of 2015.
– Sales Price to Listed Price: 93.2% – On average, buyers saw a discount off of list price of 6.8%.

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

Scottsdale Home Sales Between $2 and $3 Million September 2016

– Active Scottsdale Homes on the Market: Inventory was up again in this price point, coming in at 140 at the end of September.
– Pending Scottsdale Home Sales: Pending sales dropped to the lowest level we have seen since January 2016. This will impact sales numbers in October.
– Scottsdale Homes Sold: Sales saw a huge jump to nine, tripling sales in August. This is also ahead of the 12 month average of eight.
–  Sales Price to Listed Price: 96.1% – On average, buyers saw a discount off of list price of 3.9%. This is much higher than it has been.

Scottsdale Homes Priced $3,000,000+

Scottsdale Home Sales Over $3 Million September 2016

– Active Scottsdale Homes on the Market: Inventory increased almost 14% month over month. That is a large jump for this price point.
– Pending Scottsdale Home Sales:  Pending sales came it at five, about what we would expect this time of year.
– Scottsdale Homes Sold:  There were four home sales, which is on par with the 12 month sales average.
– Sales Price to Listed Price: 97.2% – On average, buyers saw a discount off of list price of 2.8%. This is also much higher than it usually it.

September was a decent month for luxury home sales in Scottsdale, particularly in the higher-priced segments.

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  10/1/2016 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 – September 2016

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

September was another quiet month for Scottsdale and Phoenix’s luxury condo market sales activity.

This report looks at the real estate activity for luxury condos with price points at or above $1 million.

 

Phoenix Scottsdale Luxury Condos September 2016

ACTIVE LISTINGS AT THE END OF SEPTEMBER

Inventory was up 5 units to 40 at the end of September. Twenty-eight of the condos were located in Scottsdale luxury communities and the rest were located in Phoenix luxury communities.

The highest priced condo for sale remains the same. It is a Scottsdale Waterfront Residences penthouse with an asking price of $4,995,000. The home has three bedrooms, three and one-half bathrooms, 4,471 square feet and incredible views of the valley.

The lowest priced luxury condo for sale was listed for $1,000,000 even. This two bedroom, two bathroom, 1,904 square foot home is located in Phoenix’s Esplanade Place community.

PENDING LUXURY CONDO SALES IN SCOTTSDALE AND PHOENIX

Eight condos were under contract and pending sale at the end of September. Seven of these have been in pending status for months as they await completion.

Scottsdale Pending Sales

  • Envy Residences had two pending luxury sales The first one is a carryover and has two bedrooms, two and one-half bathrooms and 1,764 square feet. Its asking price was $1,100,000. The second unit is a new pending sale and it has 1,995 square feet, two bedrooms and 2.25 bathrooms. The price on this one was $1,075,000.

Phoenix Pending Sales

There were no changes to the pending sales in Phoenix.

  • 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 SEPTEMBER 2016

No luxury condos sold during the month of September. While this time of year tends to be slower, we usually see at least one or two sales. Hopefully, things will improve in October.

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 10/1/2016 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 – 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.

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 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

By

– 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

By

– 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.

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 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

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