Scottsdale Real Estate Market

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

June 16, 2015 By Heather Tawes Nelson

– May 2015 Scottsdale Housing Market Video –

May 2015 – Video

Here is quick overview of the Scottsdale real estate market for the month of May.

Active Listings

Inventory in Scottsdale had decreased by the end of the month. This was due to solid sales, fewer homes coming onto the market and an increase in expired listings.

Compared to this time in 2014, inventory was down by 9%. And, if you compare May to April, the number of homes for sale decreased by 7%.

Median Listing Price

Home prices have continued to increase in Scottsdale.

The median list price for May 2015 came in just under $800,000. Compare that to last year when the medial list price was $639,000.

Days on Market

Days on market measures how long homes are on the market on average before they sell. Lower days on market means demand is high and the market is performing. Conversely, higher days on market shows less demand.

For May 2015, the average days on market was 93. This is down 7% from the 100 days on market average we saw in May 2014.

Median Sales Price for Scottsdale Homes

The median sale price in May came in at $485,000.

This up from May 2014’s $480,000, but down from the previous month when the median sales price was $500,000.

Number of Homes Sold

This last part looks at how many homes sold in May.

Compared to May 2014, homes sales were up by 7% to 464, which is good to see.

However, sales were down 6% when compared to April. This is something we expect to see this time of year as the high season comes to an end and sales activity starts to taper off.

Overall, real estate activity in Scottsdale was solid in May, although slightly slower than we saw in April. Inventory, pendings and sales were all down as we head into the seasonally slower months.

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, feel free to contact Joyce at (480) 209-7843 or Joyce@LiveBetterinScottsdale.com.

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

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

Phoenix and Scottsdale AZ Luxury Condo Sales – May 2015

June 13, 2015 By Heather Tawes Nelson

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

The luxury condo market in Phoenix and Scottsdale continued its solid sales record for another month in May. Plus, there was a good amount of pending inventory in the pipeline, which is encouraging for June’s sales.

This report looks at the sales activity for luxury condominiums in the area that are listed for $1 million or more.

ACTIVE LISTINGS AT THE END OF MAY

Inventory saw a drop at the end of May to 43 units for sale. Twenty-four of these units were located in Phoenix and the remaining nineteen were located in Scottsdale.

The most expensive unit for sale remained at $3,500,000. This condo encompasses the whole top floor of a commercial building in Downtown Scottsdale. The space is around 8,500 square feet and is gutted for complete customization by the new owner.

The lowest priced luxury condo on the market was located in Scottsdale’s The Landmark community. It was on the market for $1,000,000 even.

PENDING LUXURY CONDO SALES IN SCOTTSDALE AND PHOENIX

At the end of May, there were again five pending sales. Two of the pending sales were in Scottsdale and the other three were in Phoenix.

Scottsdale Pending Sales

The first pending condo sale was located in the Scottsdale Waterfront Residences. It was a two bedroom, two bathroom, 1,788 square foot unit that had been on the market for $1,075,000.
The second pending sale was at Optima Camelview. This condo had three bedrooms, two bathrooms and 2,614 square feet. It has been listed for $1,595,000.

Phoenix Pending Sales

A condo in Phoenix’s Portland on the Park was a carryover from April. It had two bedrooms, three baths and 1,646 square feet. The price at time of contract was $1,031,500.
The other two pending sales were also carryovers from April. Both units were located in the Two Biltmore Estates community. The first unit had three bedrooms, three and one-half bathrooms and 3,330 square feet. It was listed for $1,838,000. The other unit had three bedrooms, four and one-half bathrooms and 4,877 square feet. It was listed for $2,588,000.

LUXURY CONDO SALES FOR MAY 2015

There were three luxury condo sales in May. Two of them were in Phoenix and the other was in Scottsdale.

The first sale was at Fairway Lodge at 8 Biltmore. It had been on the market for $1,150,000 and ultimately sold for $1,035,000. This unit had three bedrooms, two and one-half bathrooms and 2,329 square feet.
The second sale was at Two Biltmore Estates, the neighboring community to 8 Biltmore. This condo had three bedrooms, four bathrooms and 3,860 square feet. It had been listed for $1,749,000 and sold for $1,620,000.
The final sale was a 2,975 square foot unit in the Scottsdale Waterfront Residences. It had three bedrooms and three and one-half bathrooms.The list price was $1,850,000 and it sold for $1,720,000.

Sales activity for luxury condos in Scottsdale and Phoenix was strong again in May. Plus, with five pending sales in play, June’s sales figures should be good as well.

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 6/1/2015 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 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 © 2015 Heather Tawes Nelson | Joyce Tawes

Scottsdale AZ Single Family Home Sales – May 2015

June 9, 2015 By Heather Tawes Nelson

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

May home sales in Scottsdale continued the strong pace we have been seeing. However, we did see a slight slowdown in sales and pending activity as the high season came to an end.

SCOTTSDALE HOME SALES ACTIVITY – MAY 2015

The graphic below charts the past twelve months of activity for Scottsdale home sales. There are three components being tracked:
– Single-family homes on the market are depicted in red.*
– Pending home sales are depicted in green.*
– Completed home Sales are depicted in purple.

MAY 2015 RESULTS

Active Scottsdale Homes for Sale: The number of active homes on the market at the end of May dipped 5.5% over April to 2,194. This was based on strong sales activity, fewer homes coming onto the market and a higher number of expiring listings.
Pending Homes Sales in Scottsdale: Pending sales dropped 5.9% compared to April. There were 350 pending contracts at the end of the month, well ahead of the 12 month average of 300 pendings.
May Home Sales in Scottsdale: Sales in May were the third highest in the past year. 459 homes sold, compared to the 12 month average of 381 sales.

The next section of this report looks at two other pieces of information related to the real estate market in Scottsdale.

First, there is a look at how sales activity changed relative to the previous month. For instance, sales were down 5.9% in May when compared to April.

The second section tracks the average sales price of homes in comparison to their average asking prices, in other words, sales price to list price. In May, buyers on average paid 96.1% of asking price, a 3.9% average discount.

May was another positive month for Scottsdale real estate. We are seeing things taper off as we head into the warmer summer months, so I anticipate June to be a bit quieter than May.

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 6/1/2015 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 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 © 2015 Heather Tawes Nelson | Joyce Tawes

Dove Valley Ranch in Cave Creek AZ – 2015 Real Estate Market Update

June 6, 2015 By Heather Tawes Nelson

– DOVE VALLEY RANCH IN CAVE CREEK- 2015 REAL ESTATE MARKET UPDATE –

Dove Valley Ranch is a desirable community in Cave Creek, Arizona. It embraces the natural desert landscape, is home to the Dove Valley Ranch Golf Club and is only minutes away from shopping, dining, entertainment and recreational trials.

There are many housing options to choose from in Dove Valley Ranch from single family homes of all sizes to condominiums. Its location on the northern end of the valley allows for mountain views from many of the homes.

HOMES FOR SALE AND PENDING SALES IN DOVE VALLEY RANCH AS OF 5/26/2015

As of the end of May, there were 19 homes for sale in Dove Valley Ranch. Asking prices ranged from $242,000 for a 1,383 square foot condo to $524,900 for a home with 3,604 square feet.

Ten homes were pending sale as of the 26th. These homes ranged in price from $305,000 to $484,900.

HOME SALES IN DOVE VALLEY RANCH THROUGH MAY 26, 2015

Homes in Dove Valley Ranch have been selling at a pace of 5-6 per month. If that pace persists, then the two quarters should be more or less evenly matched. However, with the double-digit pending inventory as of the 26th, we may see Q2 pull ahead as it comes to a close next month.

The highest priced sale in Dove Valley Ranch in 2015 so far was for $649,900. This home was a custom home on the golf course with four bedrooms, four bathrooms, a pool and 3,406 square feet. It sold for the asking price.

The lowest priced 2015 home sale was for $223,000. This was a two bedroom, two bathroom condo with 1,397 square feet. It had been listed for $234,900.

LEARN MORE ABOUT DOVE VALLEY RANCH

If you have any questions about the community of Dove Valley Ranch or about other real estate opportunities, please feel free to contact us. Otherwise, simply enjoy browsing some of the homes for sale below.

SEARCH DOVE VALLEY RANCH HOMES FOR SALE

Disclaimer: Information herein deemed reliable but not guaranteed. Data and information was pulled from the Arizona Regional MLS (ARMLS) as of 5/26/2015 and can change at any time. The analysis looks at residential home sales activity in Dove Valley Ranch in Cave Creek, Arizona. This blog represents the opinion of the author. No warranties implied or expressed.
Copyright © 2015 Heather Tawes Nelson | Joyce Tawes

Estancia in Scottsdale AZ – 2015 Real Estate Market Update

June 2, 2015 By Heather Tawes Nelson

– ESTANCIA – 2015 REAL ESTATE MARKET UPDATE –

Estancia is one of Scottsdale’s top luxury golf communities. Nestled into the rolling hills adjacent to Pinnacle Peak, this elegant community and golf club is home to some of the area’s most outstanding real estate.

While most of the homes in Estancia are custom estates, there are La Scala villa offerings located closer to the clubhouse and amenities.

Membership to the private Estancia Club is not required for homeowners, but a large majority of residents are members. There is an 18-hole Fazio golf course, an elegant clubhouse, a pro shop, fitness center, pool and locker rooms.

HOMES FOR SALE AND PENDING SALES IN ESTANCIA AS OF 5/26/2015

At the end of May, there were twenty-five homes on the market in Estancia. Asking prices started at $1,100,000 for a La Scala home with 2,846 square feet and three bedrooms and bathrooms. The most expensive home on the market was a 9,315 square foot estate on two acres with four bedrooms and four and one-half bathrooms. The asking price was $7,995,000.

As of the 26th, there were two pending sales in Estancia, priced at $1,500,000 and $1,999,000 respectively.

2015 HOME SALES IN ESTANCIA THROUGH MAY 26TH

Assuming the pending sales close before the end of Q2, then sales in Estancia will have been pretty level over the first half of the year.

The highest priced home sale to date in 2015 was for $4,175,000. This custom estate had four bedrooms, four and one-half bathrooms and 6,718 square feet. It had been listed for $4,950,000 and sold in a cash transaction.

The lowest priced Estancia sale this year so far was for $900,000. It was a three bedroom, three bathroom La Scala villa that had been listed for $950,000.

If you have any questions about the community of Estancia or about other real estate opportunities, please feel free to contact us. Otherwise, simply enjoy browsing some of the homes for sale below.

LEARN MORE ABOUT ESTANCIA

SEARCH ESTANCIA HOMES FOR SALE

Scottsdale, AZ

Disclaimer: Information herein deemed reliable but not guaranteed. Data and information was pulled from the Arizona Regional MLS (ARMLS) as of 5/26/2015 and can change at any time. The analysis looks at residential single family home sales activity in Estancia in Scottsdale, Arizona. This blog represents the opinion of the author. No warranties implied or expressed. Copyright © 2015 Heather Tawes Nelson | Joyce Tawes

Tatum Ranch Cave Creek – May 2015 Real Estate Market Update

May 30, 2015 By Heather Tawes Nelson

– Tatum Ranch in Cave Creek AZ – 2015 Real Estate Report –

Tatum Ranch is a popular community located in Cave Creek, Arizona, just west of Scottsdale. You will find over 3,000 homes in Tatum Ranch as well as condo and townhome options.

Throughout the community, you will find several shopping and dining options. It is also located close to area freeways, Desert Ridge and downtown Cave Creek.

Tatum Ranch is also home to the Tatum Ranch Golf Club, a par 73 golf course that was designed by Robert Cupp. A number of membership options are available.

TATUM RANCH HOMES FOR SALE AND PENDING SALES AS OF MAY 26, 2015

There were 52 homes on the market in Tatum Ranch in late May.

Prices ranged from $238,500 for a 1,190 square foot home with three bedrooms and two bathrooms up to $545,000 for a four bedroom, three bathroom home with 3,265 square feet.

Pending sales were solid. There were 19 pendings in the pipeline with prices ranging from $200,000 to $524,900.

TATUM RANCH HOME SALES YEAR-TO-DATE

Home sales are plugging along in Tatum Ranch. About 17-18 homes are selling per month and the average price per square foot is up a bit from Q1. If the same pace continues, Q2 will outperform Q1 slightly.

The highest priced home sale in Tatum Ranch in 2015 so far was for $525,000. This home was a five bedroom, three bathroom home with a pool and 3,389 square feet. The lowest priced home sale in 2015 to-date was $200,000. This home had two bedrooms, two bathrooms and 1,588 square feet.

If you have any questions about the community of Tatum Ranch or about other real estate opportunities, please feel free to contact us. Otherwise, simply enjoy browsing some of the homes for sale below.

Learn More About Tatum Ranch

Search Tatum Ranch Scottsdale Homes for Sale

Disclaimer: Information herein deemed reliable but not guaranteed. Data and information was pulled from the Arizona Regional MLS (ARMLS) as of 5/26/2015 and can change at any time. The analysis looks at residential home sales activity in Tatum Ranch in Cave Creek, Arizona. This blog represents the opinion of the author. No warranties implied or expressed.
Copyright © 2015 Heather Tawes Nelson | Joyce Tawes

Desert Mountain Scottsdale – May 2015 Real Estate Market Update

May 26, 2015 By Heather Tawes Nelson

– Home Sales in Desert Mountain Scottsdale, Arizona Through 5/26/2015 –

Desert Mountain is a well-known luxury community in North Scottsdale. While it is known for its phenomenal golf options, Desert Mountain offers non-golfers plenty to do as well.

Spread over 8,000 acres of the breathtaking Sonoran Desert, Desert Mountain offers a large variety of housing options, from smaller casitas and cottages for seasonal visitors or folks looking for less square footage, to massive, stunning custom estates perched on the mountainside.

Besides the six Jack Nicklaus golf courses, Desert Mountain is home to six clubhouses, practice facilities, a tennis complex, a fitness center with pools and so much more.

HOMES FOR SALE AND PENDING SALES IN DESERT MOUNTAIN AS OF 5/26/2015

As the month of May came to an end, 167 homes were active on the market in Desert Mountain. The prices ranged from $624,000 for a for a Sonoran Ridge casita with 1,836 square feet to a $6,975,000 estate home in the Village of Seven Arrows neighborhood with 10,236 square feet.

As of May 26th, there were nine pending sales. Prices ranged from $724,000 to $5,500,000.

2015 HOME SALES IN DESERT MOUNTAIN

Sales activity in Desert Mountain was decent in the first part of the year. As of the end of May, 51 homes had sold.

Typically the second quarter is the most robust sales period for Scottsdale with sales far exceeding those of other quarters. However, as we have been seeing elsewhere, Q1 is looking stronger in 2015.

Desert Mountain’s highest priced home sale to-date in 2015 was for $6,700,000. This home was a new build and was located in the exlusive Saguaro Forest section of the community. It had four bedrooms, four and one-half bathrooms and 6,981 square feet. It had been listed for $7,295,000 and sold for $6,700,000 in a cash transaction.

The lowest priced home sale in Desert Mountain this year was for $605,000. This was a Sonoran Cottage that had two bedrooms, two and one-half bathrooms and 2,086 square feet. It had been listed for $645,000.

If you have any questions about the community of Desert Mountain or about other real estate opportunities, please feel free to contact us. Otherwise, simply enjoy browsing some of the homes for sale below.

Learn more about the Desert Mountain community

SEARCH DESERT MOUNTAIN HOMES FOR SALE

Desert Mountain Homes for Sale

89 Listings

$4,315,985 37200 N CAVE CREEK Road, 1023
Scottsdale, AZ 85262 37200 N CAVE CREEK Road, 1023
Scottsdale, AZ 85262Listing office: Griggs's Group Powered by The Altman Brothers

$3,499,000 9533 E RISING SUN Drive
Scottsdale, AZ 85262 9533 E RISING SUN Drive
Scottsdale, AZ 85262Listing office: Compass

$8,500,000 9316 E AW Tillinghast Road
Scottsdale, AZ 85262 9316 E AW Tillinghast Road
Scottsdale, AZ 85262Listing office: Russ Lyon Sotheby's International Realty

$1,749,900 10758 E TAMARISK Way
Scottsdale, AZ 85262 10758 E TAMARISK Way
Scottsdale, AZ 85262Listing office: Long Realty Jasper Associates

$2,275,000 37200 N Cave Creek Road Road, 1125
Scottsdale, AZ 85262 37200 N Cave Creek Road Road, 1125
Scottsdale, AZ 85262Listing office: Compass

$4,995,000 40660 N 109TH Place
Scottsdale, AZ 85262 40660 N 109TH Place
Scottsdale, AZ 85262Listing office: Russ Lyon Sotheby's International Realty

$4,285,985 37200 N CAVE CREEK Road, 1002
Scottsdale, AZ 85262 37200 N CAVE CREEK Road, 1002
Scottsdale, AZ 85262Listing office: Griggs's Group Powered by The Altman Brothers

$10,000,000 9743 E MADERA Drive
Scottsdale, AZ 85262 9743 E MADERA Drive
Scottsdale, AZ 85262Listing office: Russ Lyon Sotheby's International Realty

$2,695,900 37200 N Cave Creek Road, 2120
Scottsdale, AZ 85262 37200 N Cave Creek Road, 2120
Scottsdale, AZ 85262Listing office: Camelot Homes, Inc.

previous next

Disclaimer: Information herein deemed reliable but not guaranteed. Data and information was pulled from the Arizona Regional MLS (ARMLS) as of 5/26/2015 and can change at any time. The analysis looks at residential single family home sales activity in Desert Mountain in Scottsdale, Arizona. This blog represents the opinion of the author. No warranties implied or expressed.
Copyright © 2015 Heather Tawes Nelson | Joyce Tawes

Grayhawk Scottsdale – May 2015 Real Estate Update

May 23, 2015 By Heather Tawes Nelson

– Grayhawk Real Estate Update –2015 To-Date –

Grayhawk is a well-known community North Scottsdale that is quite popular. It is home to two excellent public golf courses, Talon and Raptor, and has lots of green areas and walking paths for residents to enjoy.

There are two main neighborhoods in Grayhawk. The first is the Retreat, located on the east side of Hayden Road. Here is where you will find the two golf courses and many of the homes have lovely fairway views. There are quite a few custom homes in the Retreat as well as townhomes and production homes,

The second neighborhood, to the west of Hayden, is the Park. These homes are all production homes surrounded by green spaces, open areas, paths and more.

This real estate report will take a look at the year-to-date single-family home sales activity for the Grayhawk community.

GRAYHAWK HOMES FOR SALE AND PENDING SALES AS OF MAY 21, 2015

As the month of May was coming to an end, there were fifty homes on the market in Grayhawk with an average asking price of $895,946 and an average price per square foot of $256.54.

The most expensive home for sale was listed for $3,499,999. This home had 8,165 square feet, four bedrooms, six bathrooms, a gym and home theater and was located on the 12th hole of the Raptor course.

The least expensive home on the market was in the Park. With an asking price of $352,000, this 1,386 square foot home had three bedrooms and two bathrooms.

GRAYHAWK 2015 HOME SALES – THROUGH 5/21

Typically, Q2 is the dominant quarter for home sales in Scottsdale, significantly outperforming the other quarters. In this case, it looks like Q1 may be giving Q2 some competition if the sales pace stays the same with about 8-9 homes closing per month.

The highest home sale to-date in Grayhawk in 2015 was for $2,300,000. Overlooking the Raptor course, this home had five bedrooms, six and one-half bathrooms and 7,190 square feet. It had been listed for $2,400,000 and closed in a cash transaction.

The lowest priced home sale for the year so far was for $385,000. It had four bedrooms, two bathrooms and 2,021 square feet. It had been listed for $399,900 and sold in a cash transaction as well.

If you have any questions about the community of Grayhawk or about homes for sale there, please feel free to contact us.

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

Learn more about the Grayhawk community

Search Homes For Sale in Grayhawk

MAP OF GRAYHAWK

Disclaimer: Information herein deemed reliable but not guaranteed. Data and information was pulled from the Arizona Regional MLS (ARMLS) as of 5/21/2015 and can change at any time. The analysis looks at residential single family home sales activity in Grayhawk in Scottsdale, Arizona. This blog represents the opinion of the author. No warranties implied or expressed.
Copyright © 2015 Heather Tawes Nelson | Joyce Tawes