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

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– July 2015 Scottsdale Housing Market Video –

July 2015 – Video

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

 

 

Active Listings

The number of homes for sale in Scottsdale continued to fall. Compared to July 2014, inventory is down 12%.

We normally see a dip in listings and fewer new listings during the summer months, but it is more pronounced this year due to very strong sales activity.

 

 

 

Median Listing Price

Scottsdale Median List Price July 2015The median list price in Scottsdale for July was just under $740,000.

When comparing this figure to July 2014, the median asking price on homes was up over $100K.

 

Days on Market

Scottsdale homes days on marlet July 2015DOM, also known as days on market, calculates the length of time homes are on the market before they sell. So, a small days on market number indicates a market that is moving inventory quickly. A higher days on market indicates things are moving more slowly.

For July 2015, tha average days on market was 103 days. This is up 5% over July 2014’s 98 days.

 

 

 

Median Sales Price for Scottsdale Homes

The median sale price for homes has been on the increase.

As of July, the median list price came in just under $500K. This is up almost $50K from July 2014’s $450K and is up almost $25K over the previous month.

 

 

Number of Homes Sold

This last section looks at homes that sold over the past month.

This first image compares July 2014 to July 2015. Sales were up an impressive 21% over last year,

 

 

 

 

This second image looks at month-over-month activity. Even though June sales were strong at 476, July came in 2% higher with 484 sales.

 

 

 

 

Scottsdale posted some excellent sales in July 2015, a month where we typically see things start to quiet down. However, based on pending figures from a different source, August will likely be a bit slower.

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 – July 2015

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

The sales of luxury condos in Scottsdale and Phoenix were solid during the month of July. We closed out the month with two sales and five in the pipeline.

This report looks at condos priced $1 million or more in Scottsdale and Phoenix, Arizona.

Scott lux condo jul 15

ACTIVE LISTINGS AT THE END OF JULY

Two Biltmore Condos PhoenixInventory dropped quite a bit from June’s 43 units to 34 at the end of July. The listings were evenly split between Scottsdale and Phoenix.

The highest priced condo on the market was the same one that has held the spot for several months. However, in July, there was a price reduction from $3,500,000 to $2,950,00. This gutted, 8,500 square foot unit occupies the entire top floor of a Downtown Scottsdale commercial building.

The lowest priced luxury condo was located in the Fairway Lodge community, or 8 Biltmore, in Phoenix. This unit had 2,616 square feet, two bedrooms and two and one-half bathrooms. The asking price was $1,045,000.

 

PENDING LUXURY CONDO SALES IN SCOTTSDALE AND PHOENIX

There were five pending luxury home sales at the end of July. Four of them were located in Phoenix and the final one was in Scottsdale.

Phoenix Pending Sales

Three of the four pending sales in Phoenix have been in this status for several months.

  • The newest pending sale was at Esplanade Place in the Biltmore area. This was a three bedroom, thee bathroom, 3,542 square foot unit. It was listed for $1,435,000 at the time of contract.
  • Of the carry-overs, one is found in Portland on the Park. With two bedrooms, three bathrooms and 1,646 square feet, it was listed for $1,031,500.
  • The other two pending sales that carried over were located in Two Biltmore Estates. The first was on the market for $1,838,000 and had 3,330 square feet, three bedrooms and three and one-half bathrooms. The second one was on the market for $2,588,000, and had 4,877 square feet, three bedrooms and four and one-half bathrooms.

Scottsdale Pending Sales

  • The single pending sale was is a new entrant to the luxury condo market. This condo is found in the new Envy development in Downtown Scottsdale. Although the community is still under construction, they are doing pre-sales at this time. This particular unit was a two bedroom, two bathroom, 2,441 square foot unit. Its asking price was $1,236,500.

 LUXURY CONDO SALES FOR JULY 2015

The two luxury condo sales in July took place in Scottsdale.

  • The first sale was located in The Landmark, near Kierland. This unit had two bedrooms, two and one-half bathrooms and 2,688 square feet. It had been listed for $1,100,000 and sold for $1,005,000.
  • The second sale of the month was in the Scottsdale Waterfront Residences. This two bedroom and bathroom condo with 1,788 square feet was listed for $1,075,000 and sold for $1 million even.

The market for Scottsdale and Phoenix luxury condos had another decent month.

Learn More About Phoenix and Scottsdale Luxury Condos

Search Phoenix and Scottsdale Luxury Condos for Sale

Disclaimer:  Days on market figures are cumulative days on market. Information herein deemed reliable but not guaranteed. Data and information was pulled from the Arizona Regional MLS (ARMLS) as of 8/1/2015 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 July 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 – July 2015

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

Home sales in Scottsdale in July were excellent. In fact, July was the second highest sales month in the past year.

SCOTTSDALE HOME SALES ACTIVITY – JULY 2015

The chart below tracks three sales metrics related to local home sales. They include:

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

Scottsdale AZ Home Sales July 2015

JULY 2015 RESULTS

  • Active Scottsdale Homes for Sale: The number of homes on the market dropped again at the end of the month to 1,831. This was 6.3% lower than at the end of June and is a pattern we see seasonally.
  • Pending Homes Sales in Scottsdale: Pending sales dropped almost 18% over the previous month. This is indicating that the market is slowing down, also something see seasonally.
  • July Home Sales in Scottsdale: Sales were up another 3% to 486. This was quite impressive to see this far into the year. The 12 month average is 388 home sales. The bulk of these sales (430) were for homes priced less than $1 million.

 

The figures below look at two other metrics related to the Scottsdale real estate market.

Scottsdale Home Sales Pace July 2015

The upper section looks at rate of change between the current month and the previous month. So as you can see, we have had three consecutive months of decreasing inventory of active homes for sale.

The lower section compares home prices to sales prices. So on average in July, homes sold for 95.8% of the asking price, or at a 4.2% discount.

The real estate market in Scottsdale had a great month in July. I had anticipated a solid month based on pending activity, but sales exceeded my expectations. However, with pending sales starting the month at less than 300, I believe August will come in a bit lower.

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 8/1/2015 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 July 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

Scottsdale AZ Luxury Home Market – June 2015

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– Scottsdale AZ Luxury Home Market Performance for June 2015 –

Large Pool and Spa

Scottsdale’s luxury home market had a very strong June in terms of pendings and sales. This was a nice way to head into Scottsdale’s warmer months.

This report takes a look at the local luxury home market, which is being defined as single-family homes with list prices of $1 million or more. For additional levels of detail, this data has been broken into four price segments.

Each of the price segments includes the following information:

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 that month.

– June 2015 –

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

– Active Scottsdale Homes on the Market: Active listings dropped 20.5% over the end of May. This large drop is something we see seasonally as owners take their homes off of the market during the slower months.
– Pending Scottsdale Home Sales: Pending sales were solid at 26. This is ahead of the 12 month average of 23.
– Scottsdale Homes Sold: Thirty-four homes sold in June, a strong performance for this price range.
– Sales Price to Listed Price: 94.4% – This is pretty standard for this segment.

Scottsdale homes for sale between $1 and $1.5 million June 2015

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

– Active Scottsdale Homes on the Market: Inventory dropped again last month. The almost 20% drop brought this figure to under the 12 month average.
– Pending Scottsdale Home Sales: Pendings stayed level at 16. This is a solid performance that is ahead of the 12 month average of 13.
– Scottsdale Homes Sold: Nineteen homes sold in June, this highest this been in a year and almost double the 12 month average of 10.
– Sales Price to Listed Price: 94.7% – This figure tends to move a bit, but this is about where we would expect it.

Scottsdale homes for sale between $1.5 and $2 million June 2015

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

– Active Scottsdale Homes on the Market: As we saw elsewhere, inventory was down at the end of June to 151.
– Pending Scottsdale Home Sales: Pending sales were up by one at the end of the month to seven.
– Scottsdale Homes Sold: Six homes sold in June, which is below the 12 month average of eight.
–  Sales Price to Listed Price: 92.9% – This is s a little lower than we have been seeing recently.

Scottsdale homes for sale between $2 and $3 million June 2015

Scottsdale Homes Priced $3,000,000+

– Active Scottsdale Homes on the Market: We saw an 18.6% decrease in inventory by the end of the month.
– Pending Scottsdale Home Sales:  Pending sales were level with May at nine. This is ahead of the 12 month average of six.
– Scottsdale Homes Sold: Eight homes sold for over $3 million in June. This is twice the 12 month average.
– Sales Price to Listed Price: 91.2% –  This is the first time this figure has been in the 90’s% since November 2014.

Scottsdale homes for sale over $3 million June 2015

The luxury home market in Scottsdale had an excellent month. With the exception of the $2-$3 million price range, sales and pendings were very strong. And, with the solid pending inventory, July should also post some good numbers.

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 7/1/2015 and can change at any time. The analysis looks at single-family luxury resale homes in Scottsdale AZ over the last 12 months. There June 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 June 2015

By

– June 2015 Scottsdale Housing Market Video –

June 2015 – Video

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

 

 

Active Listings

Scottsdale AZ Homes for Sale June 2015Inventory in Scottsdale continued to decrease in June based upon strong home sales activity, fewer new listings and a seasonal increase in expired listings.

Comparing this time to the same time last year, the total number of homes on the market was down 12%. And if you look at the end of May 2015 compared to the end of June, active inventory was down 14%.

 

Median Listing Price

Scottsdale median home prices June 2015Asking prices in Scottsdale were on the upswing again in June.

The median list price for June 2015 came in just under $770,000. This is up quite a bit from June 2014’s median list price of $625,000.

 

Days on Market

Scottsdale homes days on market June 2015Days on market (DOM) is a statistic that looks at the amount of time homes are on the market before selling. A low days on market figure indicates a warmer market whereas a high number indicates a more sluggish market.

In June, the average days on market was 98 days. This is a decrease of 6% from June 2014’s 104 days.

 

Median Sales Price for Scottsdale Homes

Scottsdale homes median sales price June 2015The median sale price in June was $475,000.

This is down slightly from June 2014’s median sales price of $476,000. And it was also down when compared to the previous month’s median price of $485,000.

 

 

Number of Homes Sold

Scottsdale homes sold 2014 2015This final section looks at completed home sales.

If you compare June 2014’s sales to June 2015, you will see activity was level at 477 sales.

 

 

 

Scottsdale home sales June 2015June homes sales were up 2% over May’s sales. This was of interest as pending sales were down at the end of May and typically we see activity taper off as we get farther into the summer months.

 

 

 

 

Overall, Scottsdale had a solid home sales month in June. However, we do anticipate things to become more quiet over the next few months as we go through a seasonal slow down.

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.

For more videos, please visit Live Better in Scottsdale’s You Tube channel.

 

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

Phoenix and Scottsdale AZ Luxury Condo Sales – June 2015

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

Phoenix and Scottsdale luxury condo sales had another decent month in June.

This analysis covers the sales of local luxury condos over the past month. I am defining the luxury price point as an asking price of over $1 million.

Phoenix Scottsdale luxury condos June 2015

ACTIVE LISTINGS AT THE END OF JUNE

Inventory was level between the two months at forty-three.

The highest priced condo on the market continued to be $3,500,000. This was a very unique offering that includes the entire top floor of a Downtown Scottsdale commercial building. The gutted space is around 8,500 square feet.

The lowest priced luxury condo on the market was also a carryover from the previous month. This condo was listed for $1,000,000 and was in The Landmark in North Scottsdale.

PENDING LUXURY CONDO SALES IN SCOTTSDALE AND PHOENIX

At the end of the month, four luxury condos were in pending status. Three of these were in Phoenix and the last one was in Scottsdale.

Scottsdale Pending Sales

  • The single pending sale was a carryover from May. This unit was located in the Scottsdale Waterfront Residences and came with 1,788 square feet, two bedrooms and two bathrooms At time of contract, the asking price was $1,075,000.

Phoenix Pending Sales

All three of Phoenix’s pending sales have been in this status for a couple of months.

  • The first one is located in Portland on the Park. Its asking price was $1,031,500 for 1,646 square feet, two bedrooms and three bathrooms.
  • Two Biltmore Estates was the site of the two other pending sales.  Listed for $1,838,000, unit one came with 3,330 square feet, three bedrooms and three and one-half bathrooms. Listed for $2,588,000, unit two came with 4,877 square feet, three bedrooms and four and one-half bathrooms.

 LUXURY CONDO SALES FOR JUNE 2015

Two luxury condos sold over the course of June.

  • The first sale was in Scottsdale’s Optima Camelview Village. Coming in at 2,614 square feet with three bedrooms and two bathrooms, the sales price was $1,400,000. It had been on the market for $1,425,000.
  • The second sale was in Phoenix’s Esplanade Place community. This condo had four bedrooms, three bathrooms and 3,350 square feet. It had been listed for $1,995,000 and sold for $1,8785,000.

The Scottsdale and Phoenix luxury condo market continued to plug along in June.

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 7/1/2015 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 June 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 – June 2015

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

Living Room with Fireplace

Scottsdale home sales in June had another great month. Even though pending activity was down at the end of May, home sales in June exceeded those of May.

SCOTTSDALE HOME SALES ACTIVITY – JUNE 2015

The image below covers the previous year of home sales activity in Scottsdale. Three things are being tracked in this chart:

– Single-family homes on the market are shown in red.*
– Pending home sales are shown in green.*
– Completed home Sales are shown in purple.

JUNE 2015 RESULTS

  • Active Scottsdale Homes for Sale: As we see seasonally, the number of homes on the market fell 10.9%. This is a combination of strong sales activity and an increase in the number of expired listings.
  • Pending Homes Sales in Scottsdale: Pending sales actually increased 4% between June and May. We usually see this figure taper off as the warm summer months set in.
  • June Home Sales in Scottsdale: Sales were up 2.8% over May to 472. This is well ahead of the 12 month average of 381 home sales.

Scottsdale AZ Home Sales June 2015

This next set of data covers two other aspects of the Scottsdale real estate market.

The top part looks at month over month changes in sales activity for each of the statuses. So, as you can see, actives were down between May and June, while pendings and sales were both up.

The lower part compares average list prices with the corresponding average sales prices. Looking at June, there was a 4.3% difference between list and actual prices, which means buyers on average saw a 4.3% discount off of asking prices.

Scottsdale Home Sales Pace 2015

Scottsdale real estate continued to perform very well in June. And although I had anticipated a quieter month, sales activity actually picked up.

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 7/1/2015 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 June 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

Scottsdale AZ Luxury Home Market – May 2015

By

– Scottsdale AZ Luxury Home Market Performance for May 2015 –

Scottsdale luxury home with viewsThe luxury market in Scottsdale had a little bit of a slowdown as we headed into the warmer months, but still had a decent performance.

This report will look at sales activity of homes in Scottsdale with asking prices of over $1 million. The last twelve months of data are included and the activity is broken into several price bands for better analysis.

Each price segment has information on the following things:

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

– May 2015 –

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

–Active Scottsdale Homes on the Market: The number of homes on the market dropped 1.2% to 317, which is the third month in a row it has decreased.
– Pending Scottsdale Home Sales: Pending sales were solid at 25, which is one ahead of the 12 month average of 24.
– Scottsdale Homes Sold: Thirty-five homes sold in May, the third highest sales month we have seen in the past year.
– Sales Price to Listed Price: 93.9% – This is pretty standard for this price point.

Scottsdale Home Sales Between 1 and 1.5 million May 2015

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

– Active Scottsdale Homes on the Market: Inventory was down 5.2% over April in this price segment. However, it is still ahead of the 12 month average of 157 homes.
– Pending Scottsdale Home Sales: The number of pending sales was down a little to 16, but this is still a very solid number for this price point.
– Scottsdale Homes Sold: Ten homes sold in May, which is lower than I would have expected based on April’s pending figure. However, it is still ahead of the 12 month average of 13.
– Sales Price to Listed Price: 102.6% -This is a little misleading. One of the homes in this price point was new construction. The buyers ended up adding additional features, etc. to bring the revised list price well above the base price. Since there were only ten home sales, the extremely high sales price to list price ratio skewed the figures for the entire price segment.

Scottsdale Home Sales Between 1.5 and 2 million May 2015

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

– Active Scottsdale Homes on the Market: Inventory fell 2.8% between the end of April and May to 176.
– Pending Scottsdale Home Sales: Pending sales saw the lowest performance of the year in May at six. This is almost half of the 12 month average.
– Scottsdale Homes Sold: Eight homes sold in May, which is right on track with the 12 month average.
–  Sales Price to Listed Price: 94.7% – This is where this figure has been trending.

Scottsdale Home Sales Between 2 and 3 million May 2015

Scottsdale Homes Priced $3,000,000+

– Active Scottsdale Homes on the Market: Inventory dropped quite a bit over the previous month. The number of homes for sale over $3 million has not been this low since October of last year.
– Pending Scottsdale Home Sales:  The number of pending sales dropped a little, but this was still the third highest it has been in the past 12 months.
– Scottsdale Homes Sold: Six homes sold in May, also the third highest this has been in the past 12 months.
– Sales Price to Listed Price: 89.4% – This is pretty standard for this price range.

Scottsdale Home Sales Over 3 million May 2015

May was a decent month for Scottsdale’s luxury home market. For the most part, sales were solid. We did see pendings slip across the board, but that is to be expected as we move out of the high season. Inventory was also down across the board and I expect that trend to continue into the summer months.

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 6/1/2015 and can change at any time. The analysis looks at single-family luxury resale homes in Scottsdale AZ over the last 12 months. There 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 © 2015 Heather Tawes Nelson | Joyce Tawes

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