Scottsdale Real Estate Market

Scottsdale AZ Single Family Home Sales – March 2015

April 1, 2015 By Heather Tawes Nelson

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

The month of March was a great one for Scottsdale home sales. We saw a huge spike in sales that put the market at levels it had not seen for almost a year. Plus, we saw a nice jump in pending sales as well.

SCOTTSDALE HOME SALES ACTIVITY – MARCH 2015

The image below covers the previous twelve months of home sales activity in Scottsdale. There are three sets of data that are 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.

MARCH 2015 RESULTS

Active Scottsdale Homes for Sale: Inventory actually decreased for the first time in a few months. It was a slight dip of only 0.6% over February.
Pending Homes Sales in Scottsdale: Pending sales saw a healthy 23.1% increase between the end of February and the end of March. The month ended with 394 pending sales, the highest we have seen in the past 12 months. The 12 month average for this figure is 301 homes.
March Home Sales in Scottsdale: Home sales were excellent. 458 homes sold in March, a 44.5% increase over February. This is the third highest this figure has been in the past 12 months.

The next charts look at two different pieces of information.

The top section shows the rate of change on a month-over-month basis. Looking below, you can see we have had three months in a row of solid increases in pending sales and the 44.5% increase in home sales between February and March.

The lower section looks at the final sales price of homes relative to their asking prices. So in March, home buyers received an average of 4.2% off of the asking price of homes.

March was an excellent month for the Scottsdale single family home market. Inventory stabilized and pending and actual home sales saw large increases. Based on the solid pending figure, APril should be another excellent month.

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*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 4/1/2015 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 AZ Luxury Home Market – February 2015

March 17, 2015 By Heather Tawes Nelson

– Scottsdale AZ Luxury Home Market Performance for February 2015 –

The luxury home market in Scottsdale had another solid month in February. Although some price points performed better than others, there was good sales and pending sales activity.

This analysis looks at home sales in the over $1 million home market in Scottsdale. The information has been split into four price bands to provide additional detail. Each price band will contain the following 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 over the course of the month.

– February 2015 –

Scottsdale Homes Priced Between $1,000,000 – $1,499,999
– Active Scottsdale Homes on the Market: Inventory was up slightly (1.5%) over January to 344. This is well ahead of the 12 month average of 276 homes.
– Pending Scottsdale Home Sales: Pending sales saw a very healthy 35% jump over last month. This is the highest this figure has been since the high selling season last year.
– Scottsdale Homes Sold: Sales also saw a healthy rebound of 21.7% over January. There were 28 sales in this price point, which is right on track with the 12 month average.
– Sales Price to Listed Price: 94.0% – This is about where we have been seeing this figure.

Scottsdale Homes Priced Between $1,500,000 – $1,999,999
– Active Scottsdale Homes on the Market: Inventory for this price range was up 7.3% over January to 192 homes. This is ahead of the 12 month average of 150 homes.
– Pending Scottsdale Home Sales: The number of pending sales dropped slightly to 11 in February, below the 12 month average of 15.
– Scottsdale Homes Sold: Home sales jumped over 57% over January in this category. There were 11 home sales, which is on track with the 12 month average.
– Sales Price to Listed Price: 93.6% – This is on track with what we have been seeing.

Scottsdale Homes Priced Between $2,000,000 – $2,999,999
– Active Scottsdale Homes on the Market: Inventory was level for this price point, coming in at 184 homes for sale at the end of the month.
– Pending Scottsdale Home Sales: Pending sales were down over 35% from the previous month to nine, below the 12 month average of eleven
– Scottsdale Homes Sold: On a brighter note, home sales were excellent, more than doubling January’s performance. There were fourteen sales, compared to the twelve month average of eight sales.
– Sales Price to Listed Price: 92.4% – This is pretty on track for this price point.

Scottsdale Homes Priced $3,000,000+
– Active Scottsdale Homes on the Market: There was an 8.8% increase in the number of homes for sale in excess of $3 million. This is the highest this figure has been in the past year.
– Pending Scottsdale Home Sales: Pending sales rebounded over January. At the end of the month, there were 5 pending sales, right on par with the 12 month average.
– Scottsdale Homes Sold: There were four homes sales in February, also on par with the 12 month average.
– Sales Price to Listed Price: 97.2% – This is higher than we usually see for these homes.

Overall, February was a positive month for the luxury home market in Scottsdale. For the most part, pendings and sales were solid. However, we will want to keep an eye on inventory as some price bands saw appreciable jumps without corresponding sales activity.

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.

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Disclaimer: Information deemed reliable but not guaranteed. Data and information was pulled from the Arizona Regional MLS (ARMLS) as of 3/1/2015 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 February 2015

March 14, 2015 By Heather Tawes Nelson

– February 2015 Scottsdale Housing Market Video –

Here is an overview of how the real estate market in Scottsdale is performing.

February 2015 – Video

Active Listings

The number of active listings in Scottsdale came in a little over 2,300 at the end of February.

This represents a decrease in inventory of 8% from February 2014 and a decrease of 1% when compared to January 2015.

Median Listing Price

The median listing price for homes in Scottsdale came in at $815,000 for February. This is up quite a bit from last year where the median listing was just over $695,000.

Days on Market

Days on market is a measure of how long a home is listed for before it sells.

In February 2015, the average days on market for Scottsdale homes was 98 days. This represents a 7% increase over February 2014, where the average days on market was 92 days.

Median Sales Price for Scottsdale Homes

The median sale price in February was a little over $443,000. This is down from a year ago when it was $460,000 and also down from January, which came in at $480,000.

Number of Homes Sold

The number of homes sold was up over both last year and the previous month.

There was a 1% increase over 2014 and a 7% increase over January. This is to be expected as January tends to be a slower month. We anticipate this figure to increase even more as we move into the more active season.

So far, the Scottsdale real estate market has been having a solid year. And, we are headed into the most active sales months of the year, so we anticipate subsequent positive reports for the next few 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.

See our other market videos on Live Better in Scottsdale’s You Tube channel

Phoenix and Scottsdale AZ Luxury Condo Sales – February 2015

March 10, 2015 By Heather Tawes Nelson

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

As we entered the month of February, there was a very healthy number of pending Phoenix and Scottsdale luxury condo sales in the pipeline. By the end of the month, the majority of them had closed, making it a great sales month.

For the purposes of this analysis, I am defining the luxury condo market as units with asking prices of $1 million or more.

ACTIVE LISTINGS AT THE END OF FEBRUARY

Inventory increased again to forty-five units for sale at the end of the month. Twenty units were in Scottsdale and the other twenty-five were in Phoenix.

The Landmark condos continued to be the community with the most expensive condo for sale at $2,860,000. This elegant home has 4,480 square feet, three bedrooms and three bathrooms.

Two units were priced at $1,000,000 making them the least expensive luxury condos on the market at the end of the month. They were located at The Landmark and Kierland Plaza Lofts.

PENDING LUXURY CONDO SALES IN SCOTTSDALE AND PHOENIX

Pending sales dropped sharply from seven at the end of January to one at the end of February.

The single pending sale was located in the Scottsdale Waterfront Residences. Its asking price was $1,279,000 and it had two bedrooms, two and one-half bathrooms and 2,232 square feet.

LUXURY CONDO SALES FOR FEBRUARY 2015

There were an impressive six sales in February, with four in Scottsdale and two in Phoenix.

Scottsdale Luxury Condo Sales

The most expensive sale of the month was for a unit at The Landmark. It had 3,842 square feet, three bedrooms and two and one-half bathrooms. It had been listed for $2,225,000 and sold for $1,975,000.
Two of the sales came from Scottsdale Waterfront Residences. One was a 1,659 square foot, two bedroom, two and one-half bathroom unit that had been listed for $1,095,000 and sold for $1,015,000. The other was a 2,503 square foot condo with three bedrooms and three and one-half bathrooms. It was on the market for $1,749,000 and sold for $1,650,000.
The final sale took place in Optima Camelview Village. Listed for $1,250,000, it had 3,005 square feet, three bedrooms and three bathrooms. It sold for asking price.

Phoenix Luxury Condo Sales

Both February Phoenix sales took place in the Biltmore community. The first was at Fairway Lodge, located at 8 Biltmore. The condo, listed for $1,100,000 had 2,376 square feet, two bedrooms and two and one-half bathrooms. The final sales price was $1,057,000.
The final sale was in Two Biltmore Estates.The condo had four bedrooms, four and one-half bathrooms and 3,580 square feet. It had been listed for $1,878,000 and sold for $1,750,000.

The luxury condo market in Scottsdale and Phoenix had a great sales month. However, activity will need to pick up in March as activity looked to be slow as the month kicked off.

Learn More About Phoenix and Scottsdale Luxury Condos

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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 3/1/2015 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 – February 2015

March 4, 2015 By Heather Tawes Nelson

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

February was a positive month for the Scottsdale real estate market. Coming off a seasonally slow January, we saw a very healthy rebound in pending sales and sales activity was up as well.

SCOTTSDALE HOME SALES ACTIVITY – FEBRUARY 2015

The chart below illustrates the previous 12 months of home sales activity in Scottsdale. You will find a year’s worth of information for the three categories below :
– Single-family homes for sale are shown in red.*
– Pending home sales are shown in green.*
– Completed Home Sales are shown in purple.

FEBRUARY 2015 RESULTS

Active Scottsdale Homes for Sale: Inventory was up 1.9% to a little over 2,300 homes. This is about on par with the inventory levels we saw during the same time last year.
Pending Homes Sales in Scottsdale: Pending sales saw a large jump to 320, after six months of coming in in the 200’s. This was a 29.6% increase over January’s pending figure.
February Home Sales in Scottsdale: Home sales also saw a solid increase of 7.5%.

The next two data sets look at rate of sales as well as what homes are selling for.

The top chart shows how things have changed as compared to the previous month. So, as you can see, there was almost a 30% increase in pending sales between January and February.

The lower chart takes into account what asking prices were and what the homes ultimately sold for. So, in the case of February, buyers on average saw a discount of 4.4% off of listing prices.

February was a great month and a good indicator of the high volume season to come. With such a solid increase in pending sales by the end of the month, home sales in March should be strong.

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*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 3/1/2015 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

Desert Highlands Scottsdale – 2014 Real Estate Overview

February 24, 2015 By Heather Tawes Nelson

– 2014 Home Sales in Desert Highlands, Scottsdale, Arizona –

North Scottsdale is home to many top luxury golf communities. One of the most popular ones is Desert Highlands, a Lyle Anderson development nestled into the base of Pinnacle Peak.

The community covers 850 acres and is home to an 18-hole Jack Nicklaus golf course, a spectacular tennis facility with three court surfaces, a fitness center and pool, plus a recently updated clubhouse.

Members at Desert Highlands truly embrace and enjoy the wonderful lifestyle Desert Highlands has to offer.

DESERT HIGHLANDS HOMES FOR SALE AND PENDING SALES AS OF FEBRUARY 18, 2015

As of mid-February, there were thirty-eight homes for sale in Desert Highlands.

The ranged in price from $775,000 for a 2,635 square foot home to $5,295,000 for a 11,939 square foot estate.

As of February 18th, there were three pending sales in Desert Highlands with prices ranging from $1,070,000 to $3,695,000.

DESERT HIGHLANDS 2014 HOME SALES

As we saw throughout most of Scottsdale, Q2 was the period where we saw the most sales. Over 50% of the annual sales came during this time. We also saw another 30% of annual sales take place in the final quarter of the year.

The average price per square foot increased for the first three quarters, going from $277.18 to $306.44. However, this figured dropped back down under $300 for Q4. On average, home buyers saw a discount of 6% off of list prices.

The highest priced home sale was for a new construction home with amazing Pinnacle Peak views. It had four bedrooms, four and one-half bathrooms and 6,700 square feet. It had been on the market for $3,795,000 and sold for $3,600,000 in a cash transaction.

The lowest priced home sale of the year was a 3,148 square foot home built in 1994. It had three bedrooms and three bathrooms. It was listed for $599,993 and ended up selling for $557,500 in a cash transaction.

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

Search Homes For Sale in Desert Highlands

MAP OF DESERT HIGHLANDS

Disclaimer: Information herein deemed reliable but not guaranteed. Data and information was pulled from the Arizona Regional MLS (ARMLS) as of 2/18/2015 and can change at any time. The analysis looks at residential single family home sales activity in Desert Highlands Club in Scottsdale, Arizona. This blog represents the opinion of the author. No warranties implied or expressed.
Copyright © 2015 Heather Tawes Nelson | Joyce Tawes

Desert Mountain in Scottsdale AZ – 2014 Real Estate Recap and Market Update

February 22, 2015 By Heather Tawes Nelson

2014 Home Sales in Desert Mountain Scottsdale, Arizona –

The Desert Mountain community is a top pick among golfers and non-golfers alike when selecting a North Scottsdale home. Developed on over 8,000 acres on the northern border of Scottsdale, Desert Mountain is home to six golf courses, six clubhouses, practice facilities, a tennis complex, a fitness center with pools and so much more. It has a very socially active membership and there almost always something going on.

Home sizes and styles at Desert Mountain vary quite a bit. There are stunning custom estates that run the gamut from Tuscan, to Southwest to sleek contemporary. Smaller homes and casitas are perfect for seasonal visitors or folks looking for less square footage.

HOMES FOR SALE AND PENDING SALES IN DESERT MOUNTAIN AS OF 2/18/2015

As of mid-February, there were 160 homes on the market at Desert Mountain. Prices ranged from $624,000 for a 1,836 square foot casita to $7,975,000 estate home with 11,800 square feet.

Twelve homes were pending sale as of February 18th. These prices ranged from $650,000 to $5,975,000.

2014 HOME SALES IN DESERT MOUNTAIN

Sales in Desert Mountain were solid in 2014 with 121 homes sold. They were down a little from 2013’s 134 sales, but the average sales price of homes was up almost $100,000 over last year’s.

The second quarter tends to have the highest sales activity in Scottsdale, and 2014 was no exception. About 1/3 of all Desert Mountain sales took place during that time frame.

The highest priced home sale in Desert Mountain in 2014 was an elegant contemporary home in the Lone Mountain neighborhood. It had four bedrooms, five and one-half bathrooms and 8,155 square feet. It had been listed for $5,975,000 and sold for $5,525,000 in a cash transaction.

2014’s lowest priced home sale was $500,000. This was for a two bedroom, two and one-half bathroom Sonoran casita with 2,234 square feet. It had been listed for $525,000 and was sold in a cash transaction.

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.

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Disclaimer: Information herein deemed reliable but not guaranteed. Data and information was pulled from the Arizona Regional MLS (ARMLS) as of 2/18/2015 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

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

February 14, 2015 By Heather Tawes Nelson

Scottsdale Real Estate January 2015 – Video Update

For our Scottsdale market updates, we traditionally use a lot of charts and graphs. This month, we thought it might be helpful to add a video update, especially for those who prefer to watch something rather than reading.

Scottsdale Market Video for January 2015

INVENTORY OF HOMES FOR SALE AND MEDIAN LIST PRICE FOR SCOTTSDALE – JANUARY 2015

The number of homes for sale in Scottsdale came in just over 2,300. This is lower than last year by 4%, but 8% higher than December.

We see this increase in inventory annually as many home sellers wait for the new year to put their homes onto the market.

The median list price came in just under $800,000. This is $100,000 higher than it was at the same time last year.

MEDIAN SALES PRICE,SALES AND DAYS ON MARKET – JANUARY 2015

By contrast, the median sales price came in just under $480,000. This is about $35,000 higher than it was in January 2014.

However, the median sales price did drop a little over 4% from December 2014’s $500,000.

Here is a year-over-year comparison of home sales. January 2015 saw 301 home sales, compared to 264 home sales a year ago, a 14% increase.

However, we did see month-over-month drop in sales of 19%. This was anticipated as home buying activity slows down significantly during the month of December and we ended that month with lower pending sales.

The number of days on market before being sold went up quite a bit between 2014 and 2015. Last year it was 96 days and it was up to 119 by the end of January, a 24% increase.

Thanks for watching. We hope you found this video helpful as you gather more information to make smart informed real estate decisions. If you’d like more information or assistance, please click the button on the screen or contact Joyce at (480) 209-7843 or Joyce@LiveBetterinScottsdale.com.

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Disclaimer: Information deemed reliable, but not guaranteed.