Scottsdale AZ Real Estate & Lifestyle

Live Better in Scottsdale - eXp Realty

Scottsdale Real Estate Market

Scottsdale AZ Luxury Home Market – May 2016

By

– Scottsdale AZ Luxury Home Market Performance for May 2016 –

May was an excellent month for the Scottsdale luxury real estate market. Sales were very strong as were pendings and inventory was down.

Luxury Homes for Sale Desert MountainThe purpose of this report is to look at sales activity for homes priced over $1 million. Rather than looking at all of the data in a single batch, I have split the market into four price bands to show additional details.

Each price band includes the following information:

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


– MAY 2016 –

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

– Active Scottsdale Homes on the Market: Inventory was down 11.7% between April and May to 331.
– Pending Scottsdale Home Sales: Pending sales saw over a 46% jump to 41 in May. This is almost double the 12 month average of 24 homes.
– Scottsdale Homes Sold: There were twenty-six sales in May, just ahead of the 12 month average of 24.
– Sales Price to Listed Price: 95.2% – On average, buyers saw a discount off of list price of 4.8%.Scottsdale Home Sales Between $1 and $1.5 Million May 2016

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

– Active Scottsdale Homes on the Market: Inventory dropped again to 213 by the end of the month.
– Pending Scottsdale Home Sales: Pending sales remained the same and strong at 18.
– Scottsdale Homes Sold: There were seventeen home sales in May. This was down from April but well ahead of the 12 month average of 12.
– Sales Price to Listed Price: 89.3% – On average, buyers saw a discount off of list price of 10.7%.

Scottsdale Home Sales Between $1.5 and $2 Million May 2016
Scottsdale Homes Priced Between $2,000,000 – $2,999,999

– Active Scottsdale Homes on the Market: At the end of May, there were 168 homes for sale in this price range.
– Pending Scottsdale Home Sales: Pending sales stayed at a very healthy thirteen.
– Scottsdale Homes Sold: Fourteen homes sold in May, which is the highest we have seen in the past year. It is also double the 12 month average of seven.
–  Sales Price to Listed Price: 93.9% – On average, buyers saw a discount off of list price of 6.1%.

Scottsdale Home Sales Between $2 and $3 Million May 2016
Scottsdale Homes Priced $3,000,000+

– Active Scottsdale Homes on the Market: Inventory was down almost 7% to 149 at the end of the month.
– Pending Scottsdale Home Sales:  Pending sales were quite strong at 10, the second highest we have seen in the past 12 months.
– Scottsdale Homes Sold:  Seven homes sold, making May the second highest sales month of the past year.
– Sales Price to Listed Price: 92.9% – On average, buyers saw a discount off of list price of 7.1%.

Scottsdale Home Sales Over $3 Million May 2016

The Scottsdale luxury home market had and excellent May. Inventory levels moved down and sales and pending sales activity were quite strong.

If you would like additional detail on home sales activity, please visit my 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 6/1/2016 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

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

By

– May 2016 Scottsdale Housing Market Video –

May 2016 – Video

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

 

Active Listings

This chart takes a look at the inventory of homes for sale in Scottsdale in May 2016.

When compared to the same time period in 2015, inventory is up 6%.

However, if you compare it to the previous month, the number of homes for sale was down by 3%.

 

 

 Median Listing Price

The median list price is a marker that tells us the exact middle of home prices in Scottsdale. So half of the homes will be priced higher and the other half will be priced lower.

In May 2016, the median list price came in at $800,000.

It is up over $40,000 when compared to the median list price in May 2015.

 

 

Days on Market

Days on market (DOM) is a measurement of the amount of time it is taking homes to sell on average. A very high DOM indicates that a market is sluggish and conversely, a low DOM indicates a more robust market.

The average days on market for May 2016 was 101, which is unchanged from where this was the same time a year ago.

 

Median Sales Price for Scottsdale Homes

The median sales price, similar to the median list price, is the middle price where half of the homes sold for more and half sold for less.

In May 2016, the median sales price came in just over $491,000.

This is down a little bit from May 2015’s $500,000 median sale price, but up over April 2016’s $478,000 price.

 

 

 

Number of Homes Sold

This final section takes a look at home sales in May on a year-over-year basis as well as a month-over-month.

This top image is an annual comparison. May 2016’s sales were up 1% over May 2015’s home sales.

 

 

 

This lower image is a comparison of 2016 sales in April and May. As you can see, home sales were up 6% over last month.

 

 

 

 

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.

Phoenix and Scottsdale AZ Luxury Condo Sales – May 2016

By

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

May was a solid month for the Scottsdale and Phoenix luxury condo market. I am defining the luxury market as condos for sale with list prices of $1 million or more.

 

Scottsdale Phoenix Condo Sales May 2016

ACTIVE LISTINGS AT THE END OF MAY

The number of units on the market was up slightly to 40. Of these, 27 were located in Scottsdale and the remaining 13 were in Phoenix.

The most expensive unit on the market is a new one. This 3,940 square foot penthouse at the Scottsdale Waterfront Residences is being offered for $4,995,000. It has three bedrooms, three and one-half bathrooms and incredible downtown Scottsdale views.

The least expensive luxury condo offering is also a new one. This unit is located in the Portland on the Park community in Phoenix. It is a three bedroom, three bathroom, 1,940 square foot condo and the asking price is $1,000,600.

PENDING LUXURY CONDO SALES IN SCOTTSDALE AND PHOENIX

At the end of May, ten condos were in pending status. Of these, nine are awaiting completion and have been in the pipeline for many months.

Scottsdale Pending Sales

  • Three of the pending sales were located in Scottsdale, and two of these are carryovers waiting for construction to complete.
  • The two carryovers are at the Envy Residences community. The first is a two bedroom, two bathroom condo with 1,995 square feet. It was listed for $1,075,000. The second is a two bedroom and two and one-half bath unit with 1,764  square feet. It was listed for $1,100,000.
  • The final pending sale is in the Optima Camelview community. This unit has three bedrooms, two bathrooms, 2,228 square feet and was on the market for $1,389,000.

Phoenix Pending Sales

  • Seven of the ten condos in pending status were located in Phoenix and all of them are carryovers due to construction.
  • The same five from the previous months are found in the Two Biltmore Estates community. Asking prices for these three and four bedroom homes range from $1,750,000 to $3,178,0100 and square footage ranges from 3,000 to 4,877.
  • And we also had the same two carryovers in the Portland on the Park community. The first was listed for $1,031,500. It is a two bedroom, three bathroom condo with 2,105 square feet.  The second was listed for $1,235,500. It is a three bedroom, three bathroom, 2,486 square foot unit.

LUXURY CONDO SALES FOR MAY 2016

Three condos sold during the month and all three were in pending status at the end of April.

Scottsdale Sales

  • Two condos sold in the Kierland Plaza Lofts community.
    • The first condo had two bedrooms, two and one-half bathrooms and 2,054 square  feet. It had been listed for $1,245,000 and sold for $1,200,000.
    • The second was a 3,567 square foot penthouse with three bedrooms and two and one-half bathrooms. It had been listed for $3,250,000 and sold for $3,200,000.

Phoenix Sales

  • Phoenix’s luxury condo sale took place in the Fairway Lodge (8 Biltmore) community. It had three bedrooms, three and one-half bathrooms and 3,033 square feet. It had been on the market for $1,325,000 and sold for $1,260,000.

May was a decent month for condo sales in Scottsdale and Phoenix with three sales. We should hopefully start to see more movement as the under construction units are completed.

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 6/1/2016 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 – May 2016

By

– Scottsdale Homes for Sale and Home Sales in May 2016 –

The Scottsdale housing market had another great month in May. Sales were the third highest we have seen in the past year, inventory dropped to levels that we have not seen since the beginning of the year and pendings are the highest they have been in the last 12 months. 

SCOTTSDALE HOME SALES ACTIVITY – MAY 2016

Below is a graphic that depicts the past year of home sales activity in Scottsdale. It is tracking three metrics:

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

 

MAY 2016 RESULTS

Scotts may 16

  • Scottsdale Homes for Sale: Inventory was down again for the second month in a row to 2,367, the second lowest we have seen in 2016. A lot of this can be attributed to home sales, but Scottsdale is also approaching the warmer months and people are less likely to list their homes during that slower sales period.
  • Pending Homes Sales in Scottsdale: Pending sales were the highest they have been in the past 12 months, closing out the month at 380. This is a good sign for June sales figures.
  • Scottsdale Home Sales: Sales dropped 3.8% to 485. This is a very strong sales pace and it is the 3rd highest sales month in the past year.

This next section has two parts, including the monthly rate of change and sales prices in comparison to list prices.

Scottsdale Home Sales Pace May 2016
The first portion is how things are trending compared to the previous month. So, for instance, the number of active listings was down 6.5% at the end of May when compared to the end of April. By the same token, pendings were up 2.2% and sales were down 3.8%.

The second portion looks at the average sales prices of homes as a percentage of their average list prices. In May, it was the average sales price was 95.5% of the average listing price. Looking at this another way, buyers on average saw a 4.5% discount off of asking prices.

May was another strong month for the Scottsdale real estate market. Sales were strong, inventory tapered off and pendings were the best we have seen in a year. Based on this, June should be another solid month for Scottsdale home sales.

 

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

DC Ranch Condos and Townhomes – Real Estate Update for 2015 and 2016

By

– Condos and Townhomes in DC Ranch – 2015 and 2016 Real Estate Activity –

DC Ranch Market Street AnimalsLast week, I took a look at the real estate activity of single-family homes in Scottsdale’s DC Ranch. This week, I am will review the condo and townhome sales activity within that community.

If you are not familiar with DC Ranch, it is a master-planned luxury community in North Scottsdale that has its own K-8 school, two large community centers, miles of fitness trails and more. In addition it is home to the DC Ranch Country Club and the incredible community of Silverleaf which also is home to the Silverleaf Club and Spa.

This real estate update will cover condo and townhome sales activity in DC Ranch, not including listings in Silverleaf.

DC RANCH CONDOS AND TOWNHOMES FOR SALE AND PENDING SALES AS OF MAY 23, 2016

At the end of May, there were twenty-five condos and townhomes on the market.

The most expensive unit on the market was a patio home for $998,000. This three bedroom, three bathroom home with 2,459 square feet comes with a guest casita.

The least expensive unit on the market was a two bedroom, two bathroom townhome with 1,565 square feet. It was on the market for $409,000.

Prices for pending homes ranged from $685,000 for a 2,206 square foot unit to $995,000 for a 2,923 square foot villa.

 DC Ranch Condos Townhomes for Sale 2016

 

DC RANCH CONDO AND TOWNHOME SALES THROUGH 5/23/2016

Sales seem to be pretty level as we are about halfway through Q2 and sales are about half of what they were in the first quarter.

The most expensive sale of 2016 so far was for $820,000. This was a three bedroom, three bathroom, 2,390 square foot Market Street Villa. It had been listed for $849,000 and sold in a cash transaction.

The least expensive sale of the year was for a two bedroom, two bathroom Village at Market Street condo with 1,292 square feet. It had been listed for $274,000 and sold for $270,000.

On average, buyers of these homes have been seeing a 3% discount off of asking.

 

2015 CONDO AND TOWNHOME SALES IN DC RANCH

Below is a summary of condo and townhome sales over the course of 2015.

Sales were very highly weighted toward the first half of the year when 67% of the sales took place.

 

If you have any questions about the community of DC Ranch or about real estate opportunities in the area, please feel free to contact us. 

Otherwise, simply enjoy browsing some of the condos and townhomes for sale below.

Search Condos and Townhomes For Sale in DC Ranch

MAP OF DC RANCH

Disclaimer: Information herein deemed reliable but not guaranteed. Data and information was pulled from the Arizona Regional MLS (ARMLS) as of 5/23/2016 and can change at any time. The analysis looks at residential condo, townhome and patio home sales activity in DC Ranch in Scottsdale, Arizona. This blog represents the opinion of the author. No warranties implied or expressed.
Copyright © 2016 Heather Tawes Nelson | Joyce Tawes

DC Ranch in Scottsdale – 2015 and 2016 Real Estate Update

By

– DC Ranch Real Estate Activity for 2015 and 2016-

DC Ranch luxury homeDC Ranch is one of Scottsdale’s most desirable communities. It offers a large variety of housing options including condos and townhomes, single-family homes as well as beautiful custom homes.

These homes are located in the various neighborhoods that encompass DC Ranch. Some of these neighborhoods are gated and others are not. The most expensive real estate offerings can be found in the guard-gated DC Ranch Country Club community as well as the exclusive community of Silverleaf. 

DC Ranch is in a great location, just north of the Loop 101 freeway and has two shopping areas on site, Market Street and DC Ranch Crossing, that offer plenty of shopping, dining and personal care options.

This real estate update will cover single-family home sales activity in DC Ranch, not including homes in Silverleaf.


DC RANCH HOMES FOR SALE AND PENDING SALES AS OF MAY 23, 2016

At the end of May, there were fifty-eight homes on the market.

The highest priced home was located in the DC Ranch Country Club community and was listed for $5,695,000. This amazing custom home has 12,562 square feet with six bedrooms and ten bathrooms.

The lowest priced home was on the market for $559,000. It has 1,839 square feet, three bedrooms and two bathrooms.

Pending home prices ranged from $524,000 for a 1,935 square foot home to $4,995,000 for a 6,449 square foot custom home.

 

DC RANCH HOME SALES THROUGH 5/23/2016

We have historically seen Q2 sales well surpass those of other quarters in Scottsdale. Halfway through the second quarter, we have surpassed Q1 sales and there are an additional 8 pending sales in the pipeline.

The highest priced sale to date in 2016 was $3,000,000. This contemporary Bing Hu home on the golf course had three bedrooms, three and one-half bathrooms and 5,700 square feet. It had been on the market for $3,100,000 and sold in a cash transaction.

The lowest priced sale this year was $475,300. The home had three bedrooms and a den, two bathrooms and 1,740 square feet. It had been listed for $499,999.

2016 home sales in DC Ranch Scottsdale

2015 HOME SALES IN DC RANCH

Here is an overview of real estate activity for single-family homes in 2015.

Sales were pretty level throughout the year, which is a testament to how well-liked this community is by homebuyers.

DC Ranch 2015 home sales

 

If you have any questions about the community of DC Ranch or about real estate opportunities in the area, please feel free to contact us. 

Otherwise, simply enjoy browsing some of the homes for sale below.

Search Homes For Sale in DC Ranch

 

MAP OF DC RANCH

Disclaimer: Information herein deemed reliable but not guaranteed. Data and information was pulled from the Arizona Regional MLS (ARMLS) as of 5/23/2016 and can change at any time. The analysis looks at residential single family home sales activity in DC Ranch in Scottsdale, Arizona. This blog represents the opinion of the author. No warranties implied or expressed.
Copyright © 2016 Heather Tawes Nelson | Joyce Tawes

The Boulders Carefree and Scottsdale – 2015 and 2016 Real Estate Update

By

The Boulders Carefree and Scottsdale – Real Estate Activity for 2015 and 2016

The Boulders Scottsdale AZThe Boulders is a luxury golf community located in Carefree and North Scottsdale. It is quite popular and is known for its beautiful boulder outcroppings that dot the landscape.

Here is an overview of home sales activity for 2016 as well a look back at 2015’s sales performance.

THE BOULDERS HOMES FOR SALE AND PENDING SALES AS OF 5/20/2016

There are currently 31 homes for sale in The Boulders. The asking prices for these homes range from $529,000 for a 1,631 square foot casita up to $2,950,000 for a stunning custom home with 6,738 square feet.

There are three pending sales with prices ranging from $698,500 to $1,065,000.

The Boulders Homes for Sale May 2016

THE BOULDERS 2016 HOME SALES – THROUGH 5/20/2016

Below is a chart that shows homes sales in The Boulders through May 20th. We are just after halfway through the second quarter, and things are looking pretty static on the home sales front.

Average sales prices are pretty level and the average cost per square foot has dipped a little in Q2. However, if we continue the same pace for home sales, sales in Q2 should be pretty solid.

 

THE BOULDERS 2015 HOME SALES

This next chart takes a look at sales activity for 2015. As you can see, sales activity spiked in Q2, which is something we see regularly in this area.

2015 sales seem to have been on a quicker pace than 2016, but this all can change as the year progresses.

The Boulders 2015 home sales

If you would like to know more about The Boulders community or the homes there, please feel free to contact us.

Otherwise you can search The Boulders homes for sale via this link.

 

– The Boulders Scottsdale and Carefree – About the Community –

The Boulders is a very popular community in North Scottsdale and Carefree. It is home to two golf courses and a world-famous resort.

You have a wide range of housing options at The Boulders. There are smaller casitas that many people use as second homes or rent out privately or via the rental pool. Then, you have custom homes on and around the golf courses. A large number of the homes favor the southwestern or territorial look, but you will also find other styles of homes as well.

Scottsdale, AZ

Disclaimer:  Information herein deemed reliable but not guaranteed. Data and information was pulled from the Arizona Regional MLS (ARMLS) as of 5/20/2016 and can change at any time. The analysis looks at residential single family home sales activity in The Boulders in Scottsdale and Carefree, Arizona. This blog represents the opinion of the author. No warranties implied or expressed.
Copyright © 2016 Heather Tawes Nelson

Things to Do in Scottsdale – June 2016

By

– June 2016 Scottsdale Events –

Musical Instrument Museum MIM Phoenix AZIt is hard to believe it is almost June! And even though the summer heat is coming, there are still plenty of things to do throughout the end of May and in June.

Here are a few events and happenings going on that might be of interest:

  • Ballet in the Garden – May 17th through June 4th (Tuesday and Saturday performances) –  Ballet Arizona and the Desert Botanical Garden have partnered to put on a one-of-a kind outdoor ballet performance called Round with the backdrop of the botanical gardens.
  • Stradivarius: Origins and Legacy of the Greatest Violin Maker – Through June 5th – This compelling exhibit at the Musical Instrument Museum is closing on the 5th of June. Take a step back in time and learn about the history and artistry of these magnificent violins.
  • Old Town Farmers’ Market – Saturdays through June 11th – The final weeks of the Old Town Farmers’ market are upon us. Head to Old Town to stock up on organic produce and other local specialties.
  • Bite Nite at the Westin Kierland – June 11th – In its ninth year, Bite Nite supports fundraising for the ALS Association Arizona Chapter. Enjoy bites from top valley chefs while raising money for a great cause.
  • Kierland Commons Summer Concert Series – Saturdays through June 28th – This well-loved concert series is back. From 7-9PM on Saturdays, enjoy and dance to live music including 80’s music, classic rock and Top 40.
  • Summer Events at the Scottsdale Princess – All summer – Looking for a staycation or vacation that will please the whole family? Book a room at the Princess and enjoy all of the summer activities they have on tap, including water slides and the new pool called Sunset Beach, which has a beach! And even more special events are planned for the holiday weekends.
  • Sand Sculptures in Carefree – Through August 31st – Sculptor Ray Villafane’s incredible sand sculptures will be on display in the Carefree Desert Gardens. And if you have some free time now, the artist will be making live appearances until May 25th in the Sanderson Lincoln Pavillion. Admission is free and if you have little ones, there is a brand new splash park to explore!

These are just a few things going on in and around Scottsdale in June. Feel free to add any other events in the comments section.

Malcare WordPress Security