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Scottsdale AZ Luxury Home Market – April 2015

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– Scottsdale AZ Luxury Home Market Performance for April 2015 –

Scottsdale luxury homes for saleThe Scottsdale luxury home market saw an excellent sales month with some unprecedented sales activity in a few categories.

For this analysis, I am looking at homes with  list prices of $1 million or above. The data covers the previous twelve months of sales activity and has been broken into four luxury price bands to show additional detail.

Each price band includes the following three pieces of information:

Active – The number of homes on the market at the end of the month.
Pending – The number of pending sales at the end of the month,
Sold –  The number of home sales during the month.

– April 2015 –

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

–Active Scottsdale Homes on the Market: Inventory was down another 4.5% over the end of March to 321 homes.
– Pending Scottsdale Home Sales: Pending sales increased for the fourth month in a row to 35. This is well ahead of the 12 month average of 24 pending sales.
– Scottsdale Homes Sold: An astounding 44 homes sold in this price range in April. This is the highest sales month I have seen since I started tracking this data in September of  2007.
–  Sales Price to Listed Price: 94.3% – This is where this figure has been trending for the past few months.

 

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

– Active Scottsdale Homes on the Market: Inventory dropped for he first time since November 2014. At the end of the month, there were 191 homes for sale in this price range.
– Pending Scottsdale Home Sales: Pending sales at the end of April were the highest we have seen in the last year.
– Scottsdale Homes Sold: Twelve homes sold in April, just ahead of the 12 month average of 11. This is the highest we have seen sales this year.
– Sales Price to Listed Price: 92.6% -This is a little lower than we have been seeing.

 

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

– Active Scottsdale Homes on the Market: The number of homes for sale in this price range was up 4.6% by the end of April to 181.
– Pending Scottsdale Home Sales: Ten pending sales were on the book at the end of the month, which is on target with the 12 month average.
– Scottsdale Homes Sold: Sales were down to 7 in April, which was also on par with the 12 month average.
–  Sales Price to Listed Price: 95.3% – This is where this figure has been trending for a while.

 

Scottsdale Homes Priced $3,000,000+

– Active Scottsdale Homes on the Market: Inventory in the over $3 million range dropped 6.5% between March and April .
– Pending Scottsdale Home Sales:  Pending sales remained very strong at 11, the second highest we have seen in the past year.
– Scottsdale Homes Sold: Ten homes sold in April. This is incredibly high and has only been higher once since I started tracking in September 2007. That was for 11 sales in April 2008.
– Sales Price to Listed Price: 89.0% – With the exception of February, this is about where this figure has been trending recently.

April was a spectacular month for the luxury home market in Scottsdale. We saw some of the highest sales and pending figures we have seen in years and inventory was relatively stable. As I alluded to last month, I am looking forward to May’s sales figures based on all of the strong pending inventory.

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 5/1/2015 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

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

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– April 2015 Scottsdale Housing Market Video –

Here is an overview of how Scottsdale’s real estate market is performing.

April 2015 – Video

 

Active Listings

Scottsdale Homes for Sale April 2015After seeing inventory jump in anticipation of the hight season, the number of homes for sale in Scottsdale decreased in the month of April

The number of active listings was down 8% from April 2014 and were also down 3% over the previous month.

 

 

Median Listing Price

Scottsdale median list price April 2015As the Scottsdale real estate market has been improving, home prices have been increasing.

In April 2015, the median listing price for the month was just under $800,000. A year ago the median listing price was $655,000.

 

 

 

Days on Market

Scottsdale homes days on market April 2015Days on market is an average of how many days it takes from a home being listed to a home selling. If the market is slowing, you will see this number increase. Conversely, if the market is heating up, you will see this figure decrease.

Comparing April 2015 to April 2014, the average number of days that units spent on the market before being sold was down 1%. Clearly, this is not a huge change.

 

Median Sales Price for Scottsdale Homes

Scottsdale median sales price April 2015In April 2015, the median sale price for Scottsdale homes was $500,000.

This is down almost $14,000 over April 2014, but up from March’s almost $470,000.

 

 

 

Number of Homes Sold

Scottsdale Homes Sold April 2015Home sales increased in April. Looking at it from a year over year perspective, the number of homes sold was up 6%.

And compared to March 2015, homes sales were up 7%.

 

 

Scottsdale’s real estate market had another impressive month in April. Plus, there was solid pending sale inventory on the books as the month came to a close, indicating May should be another decent month for sales.

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.

To see other 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 – April 2015

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Luxury Condo Sales in Scottsdale and Phoenix – April 2015 –

The Landmark Condos Scottsdale AZThe Phoenix and Scottsdale luxury condo market posted another excellent sales month in April. Not only were sales strong, there is also quite a bit in the pipeline with respect to pending sales.

This report will cover sales activity for condominiums with list prices in excess of $1 million.

Scottsdale Phoenix Luxury Condo Sales April 2015

ACTIVE LISTINGS AT THE END OF APRIL

Inventory jumped back up again by the end of April to 47 versus the previous month’s 41 units. Twenty-two of the listed units were in Scottsdale and remaining twenty-five were in Phoenix.

The most expensive unit on the market was listed for $3,500,000. This is a unique unit as it is the entire top floor of a commercial building in Downtown Scottsdale. It has about 8,500 square feet and is gutted for the new owner to customize.

The least expensive unit, with a list price of $1,000,000, was in the The Landmark Condos Scottsdale AZ in North Scottsdale.

PENDING LUXURY CONDO SALES IN SCOTTSDALE AND PHOENIX

At the end of April, there were five pending sales. This is down one from March’s six. Four of the five pendings were in Phoenix and the final one was in Scottsdale.

Scottsdale Pending Sale

  • The pending luxury condo sale in Scottsdale was a carryover from March. This 2,975 square foot unit with three bedrooms and three and one-half bathrooms and was located in thee Scottsdale Waterfront Residences community. The list price was $1,850,000.

Phoenix Pending Sales

  • Downtown Phoenix’s Portland on the Park was home to one of the pending condos. This 1,646 square foot unit was a holdover from March and was priced at $1,031,500. It had two bedrooms and three baths.
  • The Fairway Lodge at 8 Biltmore had a carryover pending sale. The condo had 2,329 square feet, three bedrooms, two and one-half bathrooms and had been listed for $1,150,000.
  • Two Biltmore Estates had two of the pending sales at the end of April. The first unit was listed for $1,838,000 and had three bedrooms, three and one-half bathrooms and 3,330 square feet. The other unit was listed for $2,588,000 and had three bedrooms, four and one-half bathrooms and 4,877 square feet.

 LUXURY CONDO SALES FOR APRIL 2015

There were four luxury condo sales in April, the second highest sales month of the year to-date.

  • There was a sale in The Landmark. The unit had been listed for $1,640,000 and had three bedrooms, two and one-half bathrooms and 3,054 square feet. Its sales price was $1,484,500.
  • The Residences at 2211 Camelback had a sale. This three bedroom, three bathroom condo with 3,000 square feet sold for $1,565,000. It had been listed for $1,695,000.
  • The final two sales in April were in the Two Biltmore Estates community. Originally listed for $1,878,000, the first home had four bedrooms, four and one-half bathrooms and 3,580 square feet. It sold for asking price. The second condo sale was a three bedroom, three and one half bath unit with 4,817 square feet. It had been on the market for $2,275,000 and sold for $2,200,000.

Overall, the Scottsdale and Phoenix luxury condo market had another strong month. With all of the pending activity, sales for April should be excellent.

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 5/1/2015 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 – April 2015

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

Scottsdale Luxury Homes for SaleApril was another excellent month for home sales in Scottsdale. Sales remained very strong, as did pending sales.

SCOTTSDALE HOME SALES ACTIVITY – APRIL 2015

The chart below shows the last twelve months of Scottsdale home sales activity. For each month, three things being tracked:
– Single-family homes on the market are shown in red.* 
– Pending home sales are shown in green.*
– Completed home Sales are shown in purple.

 

APRIL 2015 RESULTS

  • Active Scottsdale Homes for Sale:  There was a marginal increase in inventory to 2,321 homes, a 0.3% increase over March. This is well above the 12 month average of 1,747. This figure will stay elevated until we hit the warmer months and many homes will be taken off of the market.
  • Pending Homes Sales in Scottsdale: Pending sales remained very strong in April. There were 372 pending sales, quite a bit over the 12 month average of 239 pending sales.
  • April Home Sales in Scottsdale: April posted the highest sales volume we have seen in the last year with 488 sales. The 12 month average is 302.

Scottsdle AZ Home Sales April 2015

The next chart looks at two things relating to the Scottsdale real estate market.

The top part looks at how sales activity changed month-over-month. For example, the number of homes sold in April was up 6.6% percent over March.

The lower part measures how much homes are selling for relative to the asking price. In April, buyers on average saw a 4.9% discount off of asking prices in Scottsdale.

Scottsdale real estate market April 2015

April continued the sales momentum of the high season. We saw the highest sales in the past year and pending inventory indicates May will also be strong.

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 5/1/2015 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

Scottsdale Neighborhoods: Los Portones

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– North Scottsdale’s Los Portones Community –

Just east of Scottsdale Road and north of Pinnacle Peak Road is a gated community called Los Portones. The community itself is comprised of several smaller neighborhoods that each have their own unique character and charm. The home types vary in size and type and are attractive to both full-time residents as well as seasonal visitors.

The school district for these homes is the Paradise Valley Unified District #69.There are two major supermarkets nearby as well as a large number of dining options, shopping, dry cleaners and more.

Los Portones Scottsdale 85255 Map
 

Premiere at Pinnacle Peak

As you enter Los Portones from Scottsdale Road, the first community on your right will be the western Premiere at Pinnacle Peak neighborhood. The second Premiere at Pinnacle Peak neighborhood is found at the other end of Los Portones, also on the right.

Current home listings in Premiere at Pinnacle Peak range from $330,000 to $370,000.

Details:

  • 133 Single Family Homes (between both) – All are single level with the exception of one home.
  • Built between 1992 -1994
  • Average Home Size: 1,548 square feet
  • Average Lot Size: 5,480 square feet or 0.13 acres
  • Homes with Pools: 21%
  • Community Pool: None
  • Search Homes for Sale at Premiere at Pinnacle Peak

 

Los Portones – Single-Family Homes

This is the first community on your left as you enter Los Portones from Scottsdale Road. The asking price for homes in Los Portones is in the $300,000 to $400,000 range.
 
Details:

  • 62 Single Family Homes – All are single level with the exception of one home.
  • Built between 1993 -1994
  • Average Home Size: 1,769 square feet
  • Average Lot Size: 6,496 square feet or 0.15 acres
  • Homes with Pools: 23%
  • Community Pool: None
  • Search Los Portones Homes for Sale

 

Talara

Talara is the second community on the north side of Los Portones. The homes in Talara are larger than the homes found in the other communities and the lot sizes are slightly larger.

Asking prices for homes currently on the market in Talara range from $440,000 to $550,000.

Details:

  • 104 Single Family Homes – 91 single level and 13 two-story
  • Built between 1992 -1994
  • Average Home Size: 2,637 square feet
  • Average Lot Size: 8,750 square feet or 0.2 acres
  • Homes with Pools: 62%
  • Community Pool: None
  • Search Talara Homes for Sale

 

Pinnacle Peak Villas

Pinnacle Peak Villas are a collection of townhomes on the south side of Los Portones. The home that is currently listed in this community is on the market for just under $330,000.

Details:

  • 59 Townhomes – All single level
  • Built between 1988-1993
  • Average Home Size: 1,643 square feet
  • Average Lot Size: 4,817 square feet or 0.11 acres
  • Homes with Pools: 8%
  • Community Pool: Yes. Covered ramada and BBQ as well.
  • Search Pinnacle Peak Villas Townhomes for Sale

 

Los Portones – Townhomes

This is the farthest east community within Los Portones and it is gated. All of the homes in this neighborhood are townhomes and many overlook the adjacent large wash.

The asking price for the only townhome for sale at this time is $330,000.

Details:

  • 102 Townhomes – 72 single level and 30 two-story
  • Built between 1987-1998
  • Average Home Size: 1,610 square feet
  • Average Lot Size: 3,155 square feet or 0.07 acres
  • Homes with Pools: 0%
  • Community Pool: Yes.
  • Search Los Portones Townhomes for Sale

 

Disclaimer: All information deemed accurate, but is not guaranteed. Map courtesy of ARMLS (Arizona Regional MLS).

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

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– March 2015 Scottsdale Housing Market Video –

Here is an overview of how Scottsdale’s real estate market is performing.

 March 2015 – Video

 

Active Listings

Scottsdale Homes for Sale March 2015The number of active homes on the market in Scottsdale was down slightly at the end of March to 2,,363.

This is a 9% drop from the same time period in 2014. We also saw a 2% decrease when comparing this figure to the previous month.

 

 

 

Median Listing Price

Scottsdale Median Home Price March 2015Scottsdale’s median listing price for homes in March was $800,000.

This is a large jump over March 2014 where the median list price was $665,000.

 

 

 

 

Days on Market

Scottsdale Homes Days on Market March 2015Days on market measures the length of time a home is on the market before it sells.

The average days on market for March 2015 was 109 days. This is up quite a bit (16%) compared to last March, where it was 94 days. And, it is also up quite a bit from February 2015, where the average days on market was 98.

 

 

Median Sales Price for Scottsdale Homes

Scottsdale Homes Median Sales Price March 2015

March’s median sale price came in just under $470,000.

This is lower than March 2014, where the median sales price was almost $498,000. However it was an increase over February’s $444,200.

 

 

Number of Homes Sold

Scottsdale Home Sales 2014 vs 2015Home sales in Scottsdale were very strong in March 2015. In fact, this is the strongest sales month Scottsdale has had in the past year.

If you look at March 2014 sales compared to March 2015 sales, activity was up an impressive 18%.

 

 

 

Scottsdale Home Sales March 2015
And, if you look at March’s sales compared to February’s, there was a 45% increase.

 

 

 

The Scottsdale housing market continues to have a solid year.  Sales were excellent in March and the number of pending sales on the books as we head into April is promising.

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.

Scottsdale AZ Luxury Home Market – March 2015

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– Scottsdale AZ Luxury Home Market Performance for March 2015 –

As the high season moved into full swing, the Scottsdale luxury home market had a strong sales month.

Scottsdale AZ Luxury Homes for SaleThis report covers the last 12 months of luxury home sales activities for various price ranges For the purposes of this analysis, I am defining luxury homes as those homes with an asking price in excess of $1 million,

Each of the price ranges contains the following information:

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

– March 2015 –

Scottsdale Homes Priced Between $1,000,000 – $1,499,999
– Active Scottsdale Homes on the Market: After many months of inventory increases, the number of homes for sale in this price point dropped by 2.3% to 336.
– Pending Scottsdale Home Sales: Pending sales saw a healthy jump to 32 at the end of the month. This figure has not been this high since last year around this time.
– Scottsdale Homes Sold: The number of home sales increased 14.3% over February to 32. This is well ahead of the 12 month average of 27.
–  Sales Price to Listed Price: 93.6% – This is about where this has been trending.

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

 

Scottsdale Homes Priced Between $1,500,000 – $1,999,999
– Active Scottsdale Homes on the Market: Inventory was up 5.7% over February to 203. This is the highest it has been in the past year.
– Pending Scottsdale Home Sales: Pending sales saw a 36.4% increase over the previous month. This is a nice jump, but it is not quite to the levels we saw this time last year.
– Scottsdale Homes Sold: Home sales dropped to 8 in March. This is below the 12 month average of 11.
– Sales Price to Listed Price: 93.9% -This is what we have been seeing over the past few months.

Scottsdale Luxury Home Sales between $1.5 and 2 million March 2015

 

Scottsdale Homes Priced Between $2,000,000 – $2,999,999
– Active Scottsdale Homes on the Market:  Inventory dropped 6% over February in this price point.
– Pending Scottsdale Home Sales: The number of sales pending was up to 13, which is ahead of the 12 month average.
– Scottsdale Homes Sold: Eleven homes sold in March, which is down from February, but is still a strong performance.
–  Sales Price to Listed Price: 94.1% – This figure bounces around in the lower 90%’s.

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

 

Scottsdale Homes Priced $3,000,000+
– Active Scottsdale Homes on the Market: The number of homes for sale over $3 million dropped slightly to 155.
– Pending Scottsdale Home Sales:  Pending sales were incredible. At the end of the month, there were 12 pending sales, double the 12 month average of 6.
– Scottsdale Homes Sold: Three homes sold in this price range. This is a solid performance, in line with what we have been seeing over the past few months.
– Sales Price to Listed Price: 88.5% – This is a little lower than we have seen in recent months.

Scottsdale home sales over $3 million March 2015

March was a great month for the luxury home segment in Scottsdale. All of the price ranges saw good pending and/or sales performance. The $1.5-$2 million price range was not as strong as the others, but has good pending inventory. And, I am looking forward to where sales will come in in the $3 million and up market in April.

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 4/1/2015 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

Phoenix and Scottsdale AZ Luxury Condo Sales – March 2015

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

arch was another strong month for the luxury condo market in Phoenix and Scottsdale. Now that we are in our high season, we are seeing quite a bit of movement in this category.

In this report, I am looking at condos for sale with asking prices of $1 million or more.

Phoenix Scottsdale Luxury Condos 2015

ACTIVE LISTINGS AT THE END OF MARCH

Scottsdale Waterfront smInventory decreased by the end of March, down to 41 from 45 at the end of February. Nineteen of the units for sale were in Scottsdale and the other twenty-two were located in Phoenix.

The most expensive unit on the market at $2,600,00 was at the The Landmark  in Scottsdale. The least expensive units, at $1,000,000 even, were located at the The Landmark and Kierland Plaza Lofts.

PENDING LUXURY CONDO SALES IN SCOTTSDALE AND PHOENIX

Pending sales saw a large rebound in March. We started with month with a single pending sale and ended it with six pending sales. Five of these were in Phoenix and the remaining one was in Scottsdale.

Phoenix Pending Sales

  • Two of the pending condos in March were in a community that has not appeared in this series before. They are located in a community in downtown Phoenix called Portland on the Park. The first unit had two bedrooms, three baths and 1,646 square feet. It was listed for $1,031,500. The other unit had three bedrooms and bathrooms and 2,490 square feet. It had been listed for $1,216,400.
  • Fairway Lodge at 8 Biltmore had a single pending sale with a list price of $1,150,000. This unit had three bedrooms, two and one-half bathrooms and 2,329 square feet.
  • The Residences at 2211 Camelback was home to another pending sale. This condo had 3,000 square feet and three bedrooms and bathrooms. It had been priced at $1,695,000.
  • The final pending sale was at Two Biltmore Estates. Listed for $1,878,000, this home had four bedrooms, four and one-half bathrooms and 3,580 square feet.

Scottsdale Pending Sales

  • The pending luxury condo sale in Scottsdale was located in the Scottsdale Waterfront Residences community. It had three bedrooms, three and one-half bathrooms and 2,975 square feet. The asking price was $1,850,000.

 

LUXURY CONDO SALES FOR MARCH 2015

March had two luxury condo sales and they both took place in the Scottsdale Waterfront Residences community.

The first sale was pending at the end of February. It had 2,232 square feet, two bedrooms and two and one-half bathrooms. It had been listed for $1,279,000 and sold for $1,260,000.

The other sale was for a similar condo with 2,070 square feet. The asking price had been $1,599,000 and it closed for $1,475,000.

Overall, the Scottsdale and Phoenix luxury condo market had another strong month. With all of the pending activity, sales for April should be excellent.

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 4/1/2015 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

 

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