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Quick Video Update of the Scottsdale Real Estate Market in December 2015

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– December 2015 Scottsdale Housing Market Video –

December 2015 – Video

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

 

 

Active Listings

This first chart looks at the inventory of homes for sale in Scottsdale compared to December 2014 as well as November 2015.

The number of homes on the market at the end of December was down 5% from the same time the previous year. And when comparing the same data between November and December of this year, homes for sale were also down 5%.

 

 Median Listing Price

The median list price is the exact ‘middle’ of prices of homes for sale. Half of the homes are priced higher and half are priced lower.

In December, the median list price was $850,000.

As we have seen throughout most of 2015, this is much higher than it was during the same month in the prior year.

 

Days on Market

Days on market tracks on average how long it takes homes to sell from time of list to close. A high days on market indicates a market with less demand and a low days on market indicates more demand. You may also see it represented by ‘DOM.’

The days on market for December 2015 was 97 days, a 9% decrease from December 2014.

 

Median Sales Price for Scottsdale Homes

We looked at the median list price above and now we will take a look at the median sales price of homes in Scottsdale.

December 2015’s median sale price was $478,000. This is lower than both December 2014 and November 2015.

 

Number of Homes Sold

The last part of this post takes a look at transactions that closed.

After a weaker November, home sales rebounded nicely to cap off the year. There was an increase of 18%.

 

 

 


Looking at the same data year-over-year, home sales were down by 5%.

 

 

 

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 – December 2015

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– Luxury Condo Sales in Scottsdale and Phoenix – December 2015 –

The luxury condo market in Scottsdale and Phoenix ended the year on a decent note. Two condos sold and there was a healthy inventory of pending units in the pipeline.

This report delves into the luxury condo market in the cities of Scottsdale and Phoenix. All of these units have asking prices of $1 million or more.

Scottsdale Phoenix Luxury Condos December 2015

ACTIVE LISTINGS AT THE END OF DECEMBER

Inventory dropped by a few units to forty-four. Of these, twenty-eight were located in Scottsdale and the balance of sixteen were located in Phoenix.

As we closed out 2015, the most expensive unit on the market was still the top floor of a commercial building in downtown Scottsdale. The gutted space has about 8,500 square feet of living area and over 5,500 square feet of patio space. Its asking price was $2,950,000.

The lowest priced luxury unit for sale was a penthouse in Optima Camelview. Listed for $1,049,000, it had two bedrooms, two bathrooms and 1,781 square feet.

PENDING LUXURY CONDO SALES IN SCOTTSDALE AND PHOENIX

At the end of the year, there were ten condos in pending status. Three in Scottsdale and seven in Phoenix.

Scottsdale Pending Sales

  • This first one is a holdover from previous months. Is is an under construction two bedroom condo at Envy Residences. The asking price was $1,075,000 and it has 1,995 square feet.
  • The Landmark finished out December with a pending sale. This was for a three bedroom unit with 2,690 square feet. It had been listed for $1,185,000.
  • The final pending sale for the month was at Scottsdale Waterfront Residences. This unit was listed for $1,695,000 and had two bedrooms and 2,265 square feet.

Phoenix Pending Sales

  • There were six pending sales in Two Biltmore Estates. These units are still being built, but they are three bedroom units that range in square feet from 3,000 to 4,877. Asking prices range from $1,750,000 to $3,178,00.
  • The final pending sale was in Portland on the Park. This unit is also under construction and awaiting completion. It has two bedrooms, three bathrooms and 2,105 square feet. The asking price was $1,031,500.

LUXURY CONDO SALES FOR DECEMBER 2015

There were two sales in December.

  • In Phoenix, one of the Two Biltmore Estates units finally closed. This unit had three bedrooms, four bathrooms and 3,860 square feet. It was listed for $1,785,000 and closed over asking at $1,822,500. This is something you see often when a unit is being built. When the buyers request customizations or different finishes/fixtures and so on during the build out, they simply add that to the price of the unit.
  • Scottsdale’s sale was in Optima Camelview. This penthouse unit had three bedrooms, two bathrooms and 2,149 square feet. It had been on the market for $1,349,000 and closed for $1,325,000.

The final month of the year was a decent one for the Scottsdale and Phoenix luxury condo market. Pendings are still strong and sales were good. Now that one of the Two Biltmore units has closed, it is possible we will see some of the others follow suit in early 2016.

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 1/1/2016 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 December 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 – December 2015

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– Scottsdale Homes for Sale and Home Sales in December 2015 –

Here are the sales figures for the final month of the year. Home sales activity in Scottsdale was robust for this time of year, and pendings trailed as we see seasonally.

SCOTTSDALE HOME SALES ACTIVITY – DECEMBER 2015

The images below shows the past 12 months home sales activity in Scottsdale. There are three things being tracked and they are listed below:

– Single-family homes on the market are tracked by the red line.*
– Pending home sales are tracked via the green line.*
– Home Sales are tracked via the purple line.

DECEMBER 2015 RESULTS

Scottsdale AZ Home Sales December 2015

  • Scottsdale Homes for Sale: Inventory dropped about 4% at the end of December. This is quite common as many listings for homes expire on the final day of the year. I expect this to rebound over the course of January.
  • Pending Homes Sales in Scottsdale: Pending sales saw a very large (24.7%) drop by the end of the month. While this decrease was significant, it tends to happen every year as people are not out shopping for homes during the holiday season.
  • Scottsdale Home Sales: Sales of homes actually saw a nice jump in December to 350, a 15.9% increase over November. This was a good way to end the year.

The section below has additional detail regarding the Scottsdale housing market.

The first chart tracks the rate of change when comparing month-to-month activity. Looking below, you can see that sales were up 15.9% in December when compared to November.

The second chart shows how much of a discount homes have been selling for by comparing list price to actual sales price. In December, homebuyers on average saw a 3.6% discount off of asking prices.

 

Overall, the Scottsdale housing market had a solid month to cap off the year.  Sales were up and inventory was down. However, since the pending inventory was so low, January will likely have a slow start to the year.

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 1/1/2016 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 December 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

Scottsdale AZ Luxury Home Market – November 2015

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– Scottsdale AZ Luxury Home Market Performance for November 2015 –

Luxury Living Scottsdale 85262The month of November was a pretty decent one for the Scottsdale luxury home market. For the most part, pending sales were trending up and we saw solid sales activity.

This analysis tracks the previous twelve months of sales data for the luxury market. Because sales activity can differ quite a bit based on asking price, I have divided the report into four luxury price bands.

Within each of the price bands, you will find the following data.

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


– NOVEMBER 2015 –

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

– Active Scottsdale Homes on the Market: After a significant rise in inventory over the past several months, we finally saw it level off by the end of November.
– Pending Scottsdale Home Sales: Pending sales were up 20% to 24 by the end of the month. This is on par with the 12 month average.
– Scottsdale Homes Sold: Sales were off by one to nineteen. This is well below the 12 month average of 26.
– Sales Price to Listed Price: 93.8% – This is on target with what we have been seeing.

Scottsdale home sales between $1 and $1.5 million November 2015

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

– Active Scottsdale Homes on the Market: Inventory was up slightly over October to 172, putting it over the 12 month average.
– Pending Scottsdale Home Sales: Pending were up to fifteen, which is a strong performance, especially for this time of year.
– Scottsdale Homes Sold: Ten homes sold in November. Another strong performance.
– Sales Price to Listed Price: 94.8% – This is a solid figure.

Scottsdale home sales between $1.5 and $2 million November 2015

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

– Active Scottsdale Homes on the Market: Inventory was up 8.5%, continuing several months of increases. This is well above the 12 month average of 164.
– Pending Scottsdale Home Sales: Ten homes were pending at the end of the month. This is a strong performance for November.
– Scottsdale Homes Sold: Only three homes sold, which is half of the 12 month average. However, with a large pending figure, I hope to see this number increase in December.
–  Sales Price to Listed Price: 93.0% – This is on track with what we have been seeing.

Scottsdale home sales between $2 and $3 million November 2015

 Scottsdale Homes Priced $3,000,000+

– Active Scottsdale Homes on the Market: Inventory was down slightly after two months of increases.
– Pending Scottsdale Home Sales:  Pending sales remained at 5 for the fifth month in a row.
– Scottsdale Homes Sold: Sales jumped in November to five. This is a strong performance and is above the 12 month average of four.
– Sales Price to Listed Price: 89.3% – This figure fluctuates a bit.

Scottsdale home sales over $3 million November 2015

November was a good month for Scottsdale’s luxury home market. Inventory started to stabilize in most cases and pending sales were strong in almost all of the price points. And, as alluded to at the beginning of this report, sales activity was solid.

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 12/1/2015 and can change at any time. The analysis looks at single-family luxury resale homes in Scottsdale AZ over the last 12 months. There November 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 © 2015 Heather Tawes Nelson | Joyce Tawes

 

Quick Video Update of the Scottsdale Real Estate Market in November 2015

By

– November 2015 Scottsdale Housing Market Video –

November 2015 – Video

Here is quick overview of the Scottsdale, Arizona real estate market for the month of November.

 

Active Listings

Here is a look at the number of homes for sale in Scottsdale compared to the previous year and the previous month.

Comparing 2014 to 2015, the inventory of homes on the market was down by 8%. But if you look at the same comparison between the end of October and November, the number of homes on the market was level at over 2,100.

 Median Listing Price

The median list price in November came in at just under $840,000.

This is up quite a bit from November 2014’s median list price of $722,000.

Days on Market

This next section looks at an average of how long it took homes on the market to sell. In November 2015, the average days on market was 97.

This is down from November 2014’s 107 days on market.

Median Sales Price for Scottsdale Homes

Now we will take a look at the median sales price for Scottsdale homes in November.  The median sales price of Scottsdale homes was over $485,000.

This is above both November 2014’s $445,000 median sales price and October 2015’s median sales price of $460,000.

Number of Homes Sold

The final section of this analysis covers home sales.

November home sales came in at 298. This is up 14% over November 2014’s 262 sales.


But, when we take a look at the same data comparing October 2015 to November 2015, home sales were actually down 21%.

This is somewhat attributed to seasonality as our market slows down as we approach the end of the year as well as a very strong sales month in October.

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 – November 2015

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– Luxury Condo Sales in Scottsdale and Phoenix – November 2015 –

Scottsdale Waterfront Luxury CondosNovember sales activity for the Scottsdale and Phoenix luxury condo market had a solid sales month. As we have seen for the past few months, the number of condos for sale was up a little bit and pending sales are backlogged awaiting the completion of new condo units.

In this analysis, we will taking an in-depth look at the sales activity for condos with asking prices of $1 million and above.

Scottsdale Phoenix Luxury Condo Sales November 2015

ACTIVE LISTINGS AT THE END OF NOVEMBER

Inventory was up two units to forty-seven at the end of the month. Most of the units, twenty-nine, were located in Scottsdale. The remaining eighteen units were in Phoenix.

The highest priced condo for sale was $2,950,000. This one has been at the top of the list for quite a while now. It is the entire top floor of a commercial building adjacent to Scottsdale Fashion Square. It has been gutted.

And, as we saw at the end of October, there was a tie for the least expensive units for sale. Both were priced at $1,050,000. The first condo was located in the Biltmore’s Fairway Lodge community. It had 2,329 square feet, two bedrooms and two and one-half bathrooms. The second condo was located in Kierland Plaza Lofts. It came with 1,536 square feet, two bedrooms and two bathrooms.

PENDING LUXURY CONDO SALES IN SCOTTSDALE AND PHOENIX

There were nine pending condo sales by the end of November. Eight of the pendings were located in Phoenix and the last one was located in Scottsdale.

Scottsdale Pending Sale

  • Scottsdale’s pending sale was a carryover as it is a new build expected to be completed in Spring 2016.  It was located in the Envy Residences. The asking price was $1,075,000 and it has 2 bedrooms, 2.25 bathrooms and 1,995 square feet.

Phoenix Pending Sales

  • We now have seven pending sales in Two Biltmore Estates awaiting completion. They are three bedroom units that range in square feet from 3,000 to 4,877. The prices for these units run between $1,750,000 to $3,178,00.
  • And another unit to be completed at Portland on the Park is still on the list. It was priced at $1,301,500 and has two bedrooms, three bathrooms and 2,105 square feet.

LUXURY CONDO SALES FOR NOVEMBER 2015

Two of November’s three sales were in Phoenix. The first was in Esplanade Place in the Biltmore area. It had three bedrooms and bathrooms and 3,542 square feet. It had been on the market at $1,749,000 and sold for $1,675,000. The other sale was in Two Biltmore Estates. This unit had four bedrooms, four and one-half bathrooms and 3,580 square feet. It sold for its asking price at $1,778,000.

Scottsdale’s sale took place in the Scottsdale Waterfront Residences. It was a three bedroom, two and one-half bathroom unit with 3,842 square feet. It had been listed for $2,350,000 and sold for $2,300,000.

 

Overall, the month of November was a decent one for the luxury condo market in Scottsdale and Phoenix. Sales were steady and inventory was only up slightly. At this point, it is waiting game to see when all of the under construction pending units will close.

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 12/1/2015 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 November 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 © 2015 Heather Tawes Nelson | Joyce Tawes

 

Scottsdale AZ Single Family Home Sales – November 2015

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– Scottsdale Homes for Sale and Home Sales in November 2015 –

Scottsdale’s November performance for home sales had mixed results, but we did see some positive outcomes.

SCOTTSDALE HOME SALES ACTIVITY – NOVEMBER 2015

The chart below illustrates the past year of home sales in Scottsdale. It tracks three different sales statuses that are outlined below.

– 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 November 2015

NOVEMBER 2015 RESULTS

  • Scottsdale Homes for Sale: Inventory has been on the rise for the past several months. It was up again at the end of November, but at a much slower pace than we have been seeing.
  • Pending Homes Sales in Scottsdale: Pending sales saw a 9.3% increase over the end of October. This uptick was nice to see.
  • November Home Sales in Scottsdale: Sales dropped quite a bit (18.8%) over the previous month. This was a bit of a surprise as we have seen relatively solid sales performance over the past couple of months.

The next section goes into more detail about the performance of the Scottsdale housing market.

The top chart looks at how things have changed when looking at sales activity on a month-by-month basis. As you can see, active inventory was up less than 1% at the end of November when compared to October.

The lower chart tracks the sales prices of the homes in comparison to their list prices. So in the month of November, buyers on average saw a 4.7% discount off of asking prices. This metric has remained pretty stable over the past year.

Scottsdale home sales pace 2015

Overall, the Scottsdale real estate market had a decent month in November. The sharp drop in sales was disappointing, but it was nice to see inventory level off and pending sales increase.

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 12/1/2015 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 November 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 © 2015 Heather Tawes Nelson | Joyce Tawes

About Scottsdale Zip Code 85266

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– Get to Know Scottsdale’s 85266 Zip Code –

Scottsdale zip code 85266 mapScottsdale is a vibrant city that has plenty to offer. It is a long, narrow city that stretches 31 miles from north to south and is home to ten zip codes.

In this post, I wanted to cover the North Scottsdale zip code of 85266. 85266 is a newer zip code that encompasses the area north of the 85255 and south and west of 85262. At its northern end, it borders the town of Carefree.

There are about 11,000 residents in this zip code and around 6,200 homes and condos.

Most of 85266 is natural desert terrain with communities sprinkled in. On the Scottsdale Road corridor, you will see a little more development.

Communities in 85266

There are a few top golf communities found in 85266. The exclusive Whisper Rock is located there as is Terravita. And, part of The Boulders resort and community falls within 85266.

Another nice community that does not have golf is Sincuidados. And, as is common in North Scottsdale, there are many opportunities to live in smaller communities or to purchase a standalone home.

If you are a horse enthusiast, there are a good number of horse properties to choose from as well.

Search 85266 Homes for Sale

Things to Do in 85266

Scottsdale Road goes right through 85266 and on that corridor you have three shopping complexes. The high-nd AJ’s Market is the anchor at Scottsdale and Lone Mountain. There is also a nice Italian restaurant called Uncle Louie, The Restaurant in there, a medical spa and more.

A little further north at Scottsdale and Westland is a large shopping area with Safeway, Target and several other shops, restaurants and a drug store. One of my favorite casual dining places is also in this complex. Blu Burger Grille serves up amazing burgers with a build-your-own concept.

And as you approach Carefree Highway, there is an another shopping complex to the west. And to the east, you will find El Pedregal, an upscale outdoor shopping mall that features galleries, boutiques and restaurants, including the Spotted Donkey Cantina.

There is not much hiking in 85266, but many of the roads are more or less flat which makes for some good walking, running and cycling.

Also, if you like to indulge yourself, definitely treat yourself to The Spa at The Boulders. It is a 33,000 square foot full-service complex that offers amazing treatments.

Want to search Scottsdale homes by zip code? Here is an interactive zip code map for Scottsdale.

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