Here are the condo sales figures for the luxury condo market in Scottsdale, Phoenix and Tempe for January 2010. I am defining the luxury condo market as condos with asking prices in excess of $1 million.
January was a solid month for luxury condo market actitivy. At the end of the month, there were 74 luxury condos for sale. Scottsdale had 57% of the inventory, Phoenix had 38% of the inventory and the remaining 5% was located in Tempe.
There was a single sale in January and it was for a three bedroom, two and one-half bathroom, 2,593 square foot unit at the Optima Camelview in Scottsdale. The unit was new construction and sold for $1,250,000.
There were three pending sales as well. The first was at the Scottsdale Waterfront Residences and it was a two bedroom, two and one-half bathroom, 2,469 square foot unit listed for $1,450,000. The other pending sales were in Phoenix at Esplanade Place and Two Biltmore Estates. The Esplanade Place luxury condo was a two bedroom, three bathroom, 3,000 square foot residence listed for $1,695,000 and the Two Biltmore Estates condo was a three bedroom, three and one-half bathroom, 3,890 square foot unit listed for $2,198,000.
| Luxury Condo Market - January 2010 | | |
| Phoenix, Tempe and Scottsdale AZ | | | |
| | All Luxury Condos | Scottsdale | Phoenix | Tempe |
| Luxury Condo Sales | | | | |
| - Number of Units for Sale | 74 | 42 | 28 | 4 |
| - Average Asking Price | $1,719,562 | $1,818,283 | $1,603,136 | $1,487,475 |
| - Average Asking Price Per Sq. Ft. | $595.31 | $675.66 | $502.19 | $403.61 |
| - Average Days on Market*- Active | 242 | 199 | 328 | 82 |
| - Number of Units Pending | 3 | 1 | 2 | 0 |
| - Average Pending Price | $1,781,000 | $1,450,000 | $1,946,500 | N/A |
| - Average Pending Price Per Sq. Ft. | $572.44 | $587.28 | $565.02 | N/A |
| - Number of Units Sold | 1 | 1 | 0 | 0 |
| - Average Sales Price | $1,250,000 | $1,250,000 | N/A | N/A |
| - Sales Price to List Price | 83% | 83% | N/A | N/A |
| - Average Sold Sq. Feet | 2,593 | 2,593 | N/A | N/A |
| - Average Sales Price per Sq. Ft. | $482.07 | $482.07 | N/A | N/A |
| - Average Days on Market* - Sold | 425 | 425 | N/A | N/A |
| - Highest Sale Price | $1,250,000 | $1,250,000 | N/A | N/A |
| - Lowest Sale Price | $1,250,000 | $1,250,000 | N/A | N/A |
| - Percentage of Total Sales | 100% | 100% | 0% | 0% |
| * Cumulative Days on Market | | | | |
Overall, the luxury condo market in Scottsdale, Phoenix and Tempe is off to a decent start for 2010. Hopefully, this market segment will continue to improve after experiecing difficult 2009.
Disclaimer: Information herein deemed reliable but not guaranteed. Data and information was pulled from the Arizona Regional MLS (ARMLS) as of 2/1/2009 and can change at any time. The analysis looks at single-family resale condos in Scottsdale, Tempe and Phoenix 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.
Copyright © 2010 Heather Tawes Nelson
Below is a look at January 2010’s home sales activity for the Scottsdale AZ luxury home market. This report covers sales activity for single-family resale homes in Scottsdale priced at $1,000,000 and above over the last 12 months.
- January 2010 -
Scottsdale Homes Priced Between $1,000,000 - $1,499,999
- Actives: There were 366 active homes on the market in this price range. This was up slightly over November’s 358 and December’s 341, but is still below the 12 month average of 418.
- Pendings: At the end of the month, there were twenty pending home sales. This was an improvement over December’s 17, but is still tracking behind the 12 month average of 28.
- Sold: Only 17 homes sold in January in this price range. This is the lowest this figure has been since March of 2009. The 12 month average is 20 sales per month.
- Sales Price to Listed Price: 89.8% - This is pretty typical for this price point.
| 2009 | | | | | | | | | | | 2010 | |
| Feb. | Mar. | Apr. | May | Jun. | Jul. | Aug. | Sep. | Oct. | Nov. | Dec. | Jan. | Avg. |
| Active | 569 | 548 | 497 | 429 | 396 | 378 | 366 | 384 | 389 | 358 | 341 | 366 | 418 |
| Pending | 19 | 28 | 30 | 44 | 34 | 35 | 40 | 23 | 27 | 24 | 17 | 20 | 28 |
| Sold | 15 | 12 | 24 | 20 | 29 | 18 | 21 | 29 | 21 | 20 | 18 | 17 | 20 |
Scottsdale Homes Priced Between $1,500,000 - $1,999,999
- Actives: There were 239 homes for sale in this segment. Again, it was slightly up over December’s 230, but still well below the 12 month average of 256.
- Pendings: Nineteen homes were pending sale at the end of January. This is a very strong number and is ahead of the average of 15 pending sales per month.
- Sold: Home sales in January were strong again, coming off of a strong December. There were 12 home sales in this price range. The 12 month average is 9.
- Sales Price to Listed Price: 82.4% - This is the lowest this ratio has been since I started tracking the figures in September of 2007. Typically, this number hovers in the high 80%’s and low 90%’s.
| 2009 | | | | | | | | | | | 2010 | |
| Feb. | Mar. | Apr. | May | Jun. | Jul. | Aug. | Sep. | Oct. | Nov. | Dec. | Jan. | Avg. |
| Active | 298 | 302 | 303 | 285 | 246 | 237 | 241 | 212 | 234 | 242 | 230 | 239 | 256 |
| Pending | 8 | 8 | 16 | 16 | 15 | 11 | 17 | 23 | 14 | 18 | 20 | 19 | 15 |
| Sold | 3 | 9 | 4 | 11 | 8 | 13 | 6 | 10 | 12 | 8 | 13 | 12 | 9 |
Scottsdale Homes Priced Between $2,000,000 - $2,999,999
- Actives: 227 homes were for sale in this price point. This figure has been dropping since November 2009 and the 12 month average is 271.
- Pendings: We saw a huge jump (45.5% ) in pending home sales in January with a total of 16. We have not seen a number like this since May of 2008. The 12 month average for pending sales is 8.
- Sold: Nine homes sold in January, which was another great performance. The last time we saw 9 home sales in a month was July of 2009. The 12 month average is 6.
- Sales Price to Listed Price: 86.2% - This is a little low as this ratio is typically in the high 80%’s and low 90%’s.
| 2009 | | | | | | | | | | | 2010 | |
| Feb. | Mar. | Apr. | May | Jun. | Jul. | Aug. | Sep. | Oct. | Nov. | Dec. | Jan. | Avg. |
| Active | 356 | 350 | 336 | 317 | 254 | 237 | 222 | 227 | 241 | 247 | 238 | 227 | 271 |
| Pending | 7 | 5 | 8 | 8 | 12 | 6 | 5 | 7 | 7 | 8 | 11 | 16 | 8 |
| Sold | 6 | 9 | 5 | 6 | 5 | 9 | 3 | 4 | 5 | 4 | 6 | 9 | 6 |
Scottsdale Homes Priced $3,000,000+
- Actives: There were 146 active homes on the market with asking prices in excess of $3 million. This number was up slightly (2%) over December, but is still well below the 12 month average of 183.
- Pendings: Four homes were pending sale at the end of the month. This is right on par with the 12 month average of 4.
- Sold: Sales saw a nice jump in January, up to 4 over December’s single sale. This is also ahead of the 12 month average of 3.
- Sales Price to Listed Price: 79.0% - This ratio changes dramatically from month to month. Usually, it is somewhere in the 80%’s, so this was a little low.
| 2009 | | | | | | | | | | | 2010 | |
| Feb. | Mar. | Apr. | May | Jun. | Jul. | Aug. | Sep. | Oct. | Nov. | Dec. | Jan. | Avg. |
| Active | 270 | 252 | 231 | 203 | 178 | 156 | 149 | 155 | 157 | 155 | 143 | 146 | 183 |
| Pending | 7 | 7 | 5 | 5 | 5 | 3 | 2 | 3 | 2 | 1 | 3 | 4 | 4 |
| Sold | 3 | 6 | 5 | 4 | 2 | 2 | 2 | - | 3 | 2 | 1 | 4 | 3 |
Overall, January was a pretty strong month for the Scottsdale luxury home market. With the exception of the $1 million to $1.5 million price range, we saw nice jumps in home sales and pending home sales in the other Scottsdale luxury home price segments. For the most part, inventory was up, but the increases were not too dramatic. Based on the pending home sales data, February should be another decent month. To see the detailed data behind this report, please visit my Scottsdale luxury real estate market reports page and click on the "Scottsdale Market Trends" report. For other information on the Scottsdale AZ real estate market and the surrounding areas, please visit my Real Estate Market Reports page.
Disclaimer:
Information herein deemed reliable but not guaranteed. Data and information was pulled from the Arizona Regional MLS (ARMLS) as of 1/1/2010 and can change at any time. The analysis looks at single-family resale homes in Scottsdale 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 © 2010 Heather Tawes Nelson
The new year started off a little slow for Scottsdale AZ homes for sale. Although the slowdown is to be expected due to many people trying to close on homes before the end of the year, the dip in this case was a bit more than I would have anticipated. The good news is that pending sales rebounded a bit after dropping off in December. Scottsdale resale home inventory was back up as well.
| 2009 | | | | | | | | | | | 2010 | |
| Number of Homes |
| Feb. | Mar. | Apr. | May | Jun. | Jul. | Aug. | Sep. | Oct. | Nov. | Dec. | Jan. | Avg. |
| Active | 4,007 | 3,933 | 3,661 | 3,224 | 2,907 | 2,782 | 2,752 | 2,829 | 2,917 | 2,910 | 2,755 | 2,927 | 3,134 |
| Pending | 287 | 391 | 487 | 562 | 574 | 501 | 520 | 523 | 514 | 483 | 438 | 471 | 479 |
| Sold | 199 | 242 | 301 | 348 | 429 | 392 | 330 | 351 | 351 | 345 | 364 | 267 | 327 |
| | | | | | | | | | | | | |
| 2009 | | | | | | | | | | | 2010 | |
| Percent Change- Month Over Month | |
| Feb. | Mar. | Apr. | May | Jun. | Jul. | Aug. | Sep. | Oct. | Nov. | Dec. | Jan. | |
| Active | 1.1% | -1.8% | -6.9% | -11.9% | -9.8% | -4.3% | -1.1% | 2.8% | 3.1% | -0.2% | -5.3% | 6.2% | |
| Pending | 12.5% | 36.2% | 24.6% | 15.4% | 2.1% | -12.7% | 3.8% | 0.6% | -1.7% | -6.0% | -9.3% | 7.5% | |
| Sold | 14.4% | 21.6% | 24.4% | 15.6% | 23.3% | -8.6% | -15.8% | 6.4% | 0.0% | -1.7% | 5.5% | -26.6% | |
| | | | | | | | | | | | | |
| Sales Price to List Price | | | | | | | | | | | |
| 2009 | | | | | | | | | | | 2010 | |
| Feb. | Mar. | Apr. | May | Jun. | Jul. | Aug. | Sep. | Oct. | Nov. | Dec. | Jan. | |
| 92.2% | 89.5% | 92.0% | 91.6% | 93.3% | 90.4% | 92.2% | 93.8% | 93.7% | 94.0% | 91.9% | 90.4% | |
January 2010 Findings
Active Homes for Sale: At the end of January, there were 2,927 homes for sale in Scottsdale. This was a jump up from December when a lot of home listings expired. However, we are still below the 12 month average of 3,134 active homes on the market.
Pending Home Sales: Pending sales enjoyed a nice little rebound in January. They were up 7.5% over December to come in at 471. This is slightly behind the 12 month average of 479.
Homes Sold: There were only 267 home sales in January and this is the first time this number has dropped into the 200's since March of 2009. This figure has been firmly in the 300's since April of 2009. Clearly, December's drop in pending sales had an impact on January's figures. The 12 month average for monthly Scottsdale home sales is 327.
Sales Price to List Price: 90.4% - This is the lowest this figure has been since July of 2004. Typically, it tracks in the low 90%'s.
While the sales figures were a big disappointment, the uptick in pending sales was an encouraging sign. We are also hearing that more and more Scottsdale short sales are now closing, so ideally, that will help down the road. Inventory was back up, which was to be expected for the beginning of the year, but the good news is that it is still at more or less the same level as October's and November's levels.
Disclaimer: Data and information was pulled from the Arizona Regional MLS (ARMLS) as of 2/1/2010 and can change at any time. The analysis looks at single-family resale homes for sale and sales 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.
Copyright © 2010 Heather Tawes Nelson
In the mood for Italian food? If so, Nick's Italian Restaurants are a great place to take your cravings. With three locations in Scottsdale and one in Phoenix, Nick's is a local treat that has been enjoyed by many residents and visitors alike over the past ten years.
Nick's serves its pizza, seafood and homemade pasta for both lunch and dinner at all locations. The atmosphere is casual although I have seen people dress up a little more for dinner service. A highlight of dining at Nick's is the bread they serve. Upon being seated, a basket of delicious, homemade focaccia bread to dip into herbed oil and vinegar is delivered to your table.
The lunch menu is extensive with everything from soups and salads, to sandwiches, pasta, pizzas and entrees. While the majority of the items are Italian, you can also find some more mainstream dishes like turkey sandwiches and BLT's. Some suggestions include the Stracciatella soup, which is a chicken broth with spinach and egg, the Greek Salad, which is out of this world, and the Chicken Pesto sub.
Dinner has many of the same options from lunch, but has expanded entree and pasta offerings. Some of our favorites from the dinner menu are the garlic bread, (also available at lunch,) Penne Alla Campagna, Chicken and Spinach Tortellini in pink sauce, Linguini and Clams, Veal Piccata and Chicken Parmesan. And these are just a few of the large number of items Nick's serves.
If you would prefer dining at home, Nick's has take-out service as well as delivery via Delicious Deliveries.
More Information:
Nick's Italian Restaurants
Three Scottsdale Locations
- Pinnacle Peak - 23417 N. Pima Road, 480.515.0096
- Grayhawk - 20831 N. Scottsdale Road, 480.473.1972
- Frank Lloyd Wright - 13910 N. Frank Lloyd Wright Blvd., 480.314.9445
Phoenix/PV Location
- Tatum/Shea - 10810 N. Tatum Blvd., 602.953.1110
Website and Menu Information: http://www.nicks-italian.com/
Flikr photo courtesy of www.BlueWaikiki.com.
Disclaimer:
Information herein deemed reliable but not guaranteed. This blog represents the opinion of the author. No warranties implied or expressed.
Copyright © 2010 Heather Tawes Nelson
Forest Highlands is an upscale golf community located in Flagstaff, Arizona. Spread over 1,100 acres and home to two golf courses, the Canyon Course (ranked number one private course in Arizona) and the Meadow Course, Forest Highlands is a wonderful year-round community. Homes range in size from two bedroom cottages to large homes on expansive lots.
The lifestyle at Forest Highlands is hard to beat. In addition to golf, there are two clubhouses with restaurants, two pools, a tennis complex, miles of trails and paths, playgrounds, basketball and volleyball courts, stocked fishing ponds and so much more. Activities are offered throughout the year, with the bulk of activity happening in the summer months. Additionally, a kids' recreation program is offered in the summer. Winter sports enthusiasts can enjoy cross-country skiing or Forest Highlands' proximity to the Arizona Snowbowl.
Below is information on Forest Highlands homes on the market and pending sales as of January 1, 2010. Asking prices started at $499,000 for a cottage and went up to $1,900,000 for a custom home on the golf course.
| Forest Highlands, Flagstaff, AZ |
| 2009 Real Estate Performance |
| |
| Homes for Sale on 1/1/2010 | |
| - Number of Homes | 34 |
| - Average Asking Price | $954,690 |
| - Average Square Feet | 3,071 |
| - Average Asking Price per Sq. Foot | $301.28 |
| - Average Days on Market* | 268 |
| |
| Pending Sales as of 1/1/2010 | |
| - Number of Homes | 2 |
| - Average Asking Price | $1,800,000 |
| - Average Square Feet | 4,650 |
| - Average Asking Price per Sq. Foot | $375.05 |
| - Average Days on Market* | 160 |
In addition, I looked at Forest Highlands homes sales in 2009 compared to 2008. Sales were lower in 2009 than they were in 2008 and sales volume was off significantly. Only four of the twenty-one sales closed for more than $1 million in 2009. Discounts off of listing price were greater in 2009 as well, and on average, buyers got over 400 additional square feet per home for less than they would have paid the year prior.
| Forest Highlands Home Sales | 2009 | 2008 | Difference |
| - Number of Home Sales | 21 | 24 | -3 |
| - Total Sales Volume | $17,855,937 | $21,470,150 | ($3,614,213) |
| - Average Sales Price | $850,283 | $894,590 | ($44,307) |
| - Sales Price to List Price | 83% | 91% | -8% |
| - Average Square Feet | 3,309 | 2,849 | 460 |
| - Average Sales Price per Sq. Foot | $249.56 | $316.17 | ($66.61) |
| - Average Days on Market* | 179 | 224 | -45 |
| - Highest Sale Price | $1,700,000 | $1,900,000 | ($200,000) |
| - Lowest Sale Price | $502,937 | $560,000 | ($57,063) |
Overall, 2009 was a challenging year from a sales standpoint at Forest Highlands. However, downward price pressure allowed buyers to get some really good deals at a significant discount off of asking price.
View Forest Highlands Homes for Sale
View Forest Highlands Lots for Sale
Disclaimer: Information herein deemed reliable but not guaranteed. Data and information was pulled from the Arizona Regional MLS (ARMLS) as of 1/1/2010 and can change at any time. Data from sales transactions via the Northern Arizona MLS is not included. The analysis looks at home sale activity in the golf community of Forest Highlands in Flagstaff, Arizona. This blog represents the opinion of the author. No warranties implied or expressed.
Copyright © 2010 Heather Tawes Nelson
The luxury golf community of Mirabel is located in far North Scottsdale, Arizona. Its northern location allows the community some of the most spectacular valley and city lights views around. Developed by the Discovery Land Company, Mirabel is spread over 713 acres and has 315 custom homesites as well as a small enclave of 35 production homes located close to the clubhouse. Since it is located at approximately 3,000 feet, temperatures at Mirabel tend to be slightly cooler than other parts of the valley at lower elevations.
Although you do not have to be a member of the Mirabel Golf Club to own property in Mirabel, the main center of activity is the Desert Lodge Clubhouse and the 18-hole Tom Fazio golf course. The Clubhouse design is striking, warm and has all of the amenities you would want including a fitness center, tennis courts, fine and casual dining, pool area with cabanas, pro shop, an activities and lifestyle concierge and so much more.
Below is an overview of Mirabel homes for sale and Mirabel sales activity for 2009 as well as a comparison with 2008's sales performance. As you can see, home sales were up in 2009 over 2008 by 60%. However, the actual sales volume was below that of 2008 by over $300,000. The average sales price dropped by over $1 million, days on market were up and the average price per square foot was down significantly.
| Mirabel Club Scottsdale AZ | | |
| 2009 Real Estate Performance | | |
| | | |
| Homes for Sale on 1/1/2010 | | | |
| - Number of Homes | 31 | | |
| - Average Asking Price | $1,909,771 | | |
| - Average Square Feet | 5,154 | | |
| - Average Asking Price per Sq. Foot | $364.74 | | |
| - Average Days on Market* | 355 | | |
| | | |
| Pending Sales as of 1/1/2010 | | | |
| - Number of Homes | 2 | | |
| - Average Asking Price | $1,512,500 | | |
| - Average Square Feet | 5,174 | | |
| - Average Asking Price per Sq. Foot | $290.79 | | |
| - Average Days on Market* | 156 | | |
| | | |
| Home Sales | 2009 | 2008 | Difference |
| - Number of Home Sales | 8 | 5 | 3 |
| - Total Sales Volume | $13,458,000 | $13,760,000 | ($302,000) |
| - Average Sales Price | $1,685,250 | $2,752,000 | ($1,066,750) |
| - Sales Price to List Price | 84% | 93% | -9% |
| - Average Square Feet | 5,635 | 5,784 | -149 |
| - Average Sales Price per Sq. Foot | $291.52 | $472.56 | ($181.04) |
| - Average Days on Market* | 413 | 249 | 164 |
| - Highest Sale Price | $2,850,000 | $3,500,000 | ($650,000) |
| - Lowest Sale Price | $863,000 | $1,735,000 | ($872,000) |
* Cumulative Days on MarketEven though sales were up in 2009, Mirabel saw lower sales prices and larger discounts off of asking prices. This is not uncommon as we saw similar patterns in all of the luxury communities in Scottsdale. As capital markets dried up and buyer activity slowed, sellers were forced to lower their prices and negotiate. The presence of short sales and foreclosures also had an impact on sales volume.
Even though 2009 was a difficult year for Mirabel sellers, there were and continue to be some great values for buyers.
Disclaimer:
Information herein deemed reliable but not guaranteed. Data and information was pulled from the Arizona Regional MLS (ARMLS) as of 1/1/2010 and can change at any time. The analysis looks at home sale activity in the golf community of Mirabel in Scottsdale, Arizona. This blog represents the opinion of the author. No warranties implied or expressed.
Copyright © 2010 Heather Tawes Nelson
At the end of the year, I pulled all of the listing and sales data for most of the Carefree, Cave Creek and Scottsdale golf communities to see how they performed.
Below is an analysis of the homes that were on the market at the beginning of 2010. In addition to the number of homes for sale, you can see what the average asking price is, the average price per square foot the sellers are asking as well as the lowest and highest priced homes for each golf community. You can see there are golf homes available in all price points, from under $200,000 in Dove Valley Ranch and the low $200's in Terravita to homes that start at $1,950,000 in the upscale community of Whisper Rock.
| LISTING DATA as of January 1, 2010 |
| Community | Location | Number of Homes for Sale | Average Asking Price | Average Asking Price/Sq. Foot | Lowest Asking Price | Highest Asking Price |
| Ancala | Scottsdale - East | 36 | $1,696,719 | $306.14 | $424,900 | $6,995,000 |
| The Boulders | Scottsdale/Carefree | 40 | $1,105,322 | $322.91 | $429,000 | $4,950,000 |
| DC Ranch | Scottsdale - North | 95 | $1,292,097 | $318.00 | $175,000 | $5,195,000 |
| Desert Highlands | Scottsdale - North | 54 | $1,735,037 | $356.83 | $575,000 | $4,995,000 |
| Desert Mountain | Scottsdale - Far North | 242 | $2,213,866 | $422.70 | $550,000 | $12,900,000 |
| Dove Valley Ranch | Cave Creek | 29 | $337,715 | $147.04 | $199,500 | $699,000 |
| Estancia | Scottsdale - North | 26 | $3,460,885 | $569.51 | $870,000 | $15,000,000 |
| Grayhawk** | Scottsdale - North | 79 | $852,328 | $244.37 | $245,000 | $3,399,000 |
| Legend Trail | Scottsdale - Far North | 35 | $614,134 | $225.11 | $299,000 | $1,450,000 |
| Mirabel | Scottsdale - Far North | 31 | $1,909,771 | $364.74 | $450,000 | $5,750,000 |
| Rancho Manana | Cave Creek | 8 | $883,625 | $240.68 | $550,000 | $1,750,000 |
| Silverleaf | Scottsdale - North | 73 | $3,481,068 | $532.17 | $1,100,000 | $10,500,000 |
| Terravita | Scottsdale - North | 50 | $587,282 | $249.00 | $219,900 | $1,275,000 |
| Troon North | Scottsdale - North | 103 | $892,453 | $245.95 | $285,000 | $3,950,000 |
| Troon Village | Scottsdale - North | 55 | $1,384,525 | $300.85 | $359,900 | $6,850,000 |
| Whisper Rock | Scottsdale - North | 17 | $2,671,412 | $450.86 | $1,950,000 | $4,250,000 |
| * Data from the Arizona Regional MLS (ARMLS) and is subject to change. Information as of 1/1/2010 | | |
| ** Single-family homes only | | | | | |
Here are the sales figures for 2009 for each of these golf communities. Again we have the number of homes, the average sales price and average price per square foot. There is another column that looks at sales price compared to list price, which is essentially the average discount a buyer paid off of the list price. Homes in Dove Valley Ranch sold for the closest amount to asking price with almost a 5% discount.
| 2009 Sales Performance by Community |
| Community | Location | Number of Homes Sold 2009 | Average Sales Price 2009 | Average Price/Sq. Foot Sold 2009 | Sales Price to List Price | TOTAL SALES VOLUME |
| Ancala | Scottsdale - East | 26 | $1,061,073 | $226.21 | 91.3% | $27,587,900 |
| The Boulders | Scottsdale/Carefree | 30 | $788,400 | $218.94 | 70.4%*** | $23,652,000 |
| DC Ranch | Scottsdale - North | 137 | $608,816 | $209.05 | 94.5% | $83,407,800 |
| Desert Highlands | Scottsdale - North | 17 | $1,416,412 | $287.71 | 89.2% | $24,079,000 |
| Desert Mountain | Scottsdale - Far North | 92 | $1,494,250 | $310.84 | 85.8% | $137,471,031 |
| Dove Valley Ranch | Cave Creek | 65 | $276,448 | $123.78 | 95.7% | $17,969,100 |
| Estancia | Scottsdale - North | 10 | $1,775,182 | $334.36 | 78.4% | $17,751,820 |
| Grayhawk | Scottsdale - North | 110 | $625,472 | $207.34 | 94.3% | $68,801,888 |
| Legend Trail | Scottsdale - Far North | 38 | $423,173 | $193.78 | 89.1% | $16,080,587 |
| Mirabel | Scottsdale - Far North | 9 | $1,567,556 | $276.57 | 84.9% | $14,108,000 |
| Rancho Manana | Cave Creek | 2 | $627,500 | $171.00 | 91.7% | $1,255,000 |
| Silverleaf | Scottsdale - North | 25 | $2,234,424 | $365.24 | 87.8% | $55,860,606 |
| Terravita | Scottsdale - North | 55 | $488,217 | $216.21 | 94.6% | $26,851,950 |
| Troon North | Scottsdale - North | 74 | $742,761 | $204.63 | 89.3% | $54,964,300 |
| Troon Village | Scottsdale - North | 81 | $826,962 | $212.30 | 91.2% | $66,983,898 |
| Whisper Rock | Scottsdale - North | 7 | $1,812,143 | $304.78 | 86.6% | $12,685,000 |
| * Data from the Arizona Regional MLS (ARMLS) and is subject to change. Information as of 1/1/2010 | | |
| ** Single-family homes only ***MLS Data discrepancy is understating this number. | | | | | |
For more information on Scottsdale AZ golf communities and Scottsdale golf homes, please visit www.ScottsdaleAgent.net. On the website, there is an interactive map of the golf communities, descriptions of each of the communities as well as an interactive Scottsdale zip code map.
Disclaimer:
Information herein deemed reliable but not guaranteed. Data and information was pulled from the Arizona Regional MLS (ARMLS) as of 1/1/2010 and can change at any time. The analysis looks at resale homes in the above Scottsdale, Carefree and Cave Creek communities 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 © 2010 Heather Tawes Nelson
2009 was a difficult year for the luxury condo market in Scottsdale, Phoenix and Tempe, AZ. For the purposes of this analysis, the luxury condo market is being defined as condos on the market with asking prices in excess of $1,000,000. 2009 condo sales volume was way off of 2008 levels in Scottsdale and Phoenix. And in Tempe, not even one luxury condo unit sold in 2009.
There were 11 luxury condo sales in 2009. Four of the eleven sales were in the Scottsdale Waterfront Residences community located at the corner of Scottsdale Road and Camelback Road, in the heart of the Waterfront District. Two of these sales were the highest and lowest priced sales of 2009 with a two bedroom, two and one-half bathroom, 2,265 square foot unit going for $800,000 and a four bedroom, four and one-half bathroom, 4,847 square foot penthouse that sold for $2,700,000. The next community with the most sales was Esplanade Place in the Biltmore area of Phoenix with three sales ranging from $1,150,000 to $1,725,000. The Landmark in the Kierland area of North Scottsdale had two sales for $1,000,000 and $1,889,000 respectively. Two other communities, The Residences at 2211 Camelback in the Biltmore area of Phoenix and Optima Camelview in Scottsdale also had a sale each in excess of $1,000,000.
| Luxury Condo Market - 2009 Sales Performance | | |
| Phoenix, Tempe and Scottsdale AZ | | | |
| | All Luxury Condos | Scottsdale | Phoenix | Tempe |
| Luxury Condo Sales | | | | |
| - Number of Units Sold | 11 | 7 | 4 | 0 |
| - Average Sales Price | $1,527,864 | $1,581,643 | $1,433,750 | N/A |
| - Sales Price to List Price | 85% | 83% | 89% | N/A |
| - Average Sold Sq. Feet | 3,205 | 3,171 | 3,264 | N/A |
| - Average Sales Price per Sq. Ft. | $471.95 | $488.92 | $442.26 | N/A |
| - Average Days on Market* | 247 | 172 | 379 | N/A |
| - Highest Sale Price | $2,700,000 | $2,700,000 | $1,725,000 | N/A |
| - Lowest Sale Price | $800,000 | $800,000 | $1,150,000 | N/A |
| - Percentage of Total Sales | 100% | 64% | 36% | 0% |
| * Cumulative Days on Market | | | | |
The difference in sales numbers between 2008, with 34 sales and 2009, with 11 sales is striking. On top of significantly lower sales volume, the average sale price was down, days on market were up and units were selling for more of a discount off of list price. As a buyer in 2009, you could get almost an average of 500 additional square feet for about $100,000 less than what someone would have paid in 2008.
| Luxury Condo Sales | 2009 | 2008 | Difference |
| - Number of Units Sold | 11 | 34 | -23 |
| - Average Sales Price | $1,527,864 | $1,627,780 | ($99,916) |
| - Sales Price to List Price | 85% | 93% | -8% |
| - Average Sold Sq. Feet | 3,205 | 2,702 | 503 |
| - Average Sales Price per Sq. Ft. | $471.95 | $594.23 | ($122) |
| - Average Days on Market* | 247 | 182 | 65 |
| - Highest Sale Price | $2,700,000 | $3,900,000 | ($1,200,000) |
| - Lowest Sale Price | $800,000 | $920,000 | ($120,000) |
| * Cumulative Days on Market | | | |
Hopefully, 2010 will be a better year for the luxury condo market in Scottsdale, Phoenix and Tempe. At the end of 2009, there were three pending sales, so ideally this momentum will keep up throughout the year.
Disclaimer:
Information herein deemed reliable but not guaranteed. Data and information was pulled from the Arizona Regional MLS (ARMLS) as of 1/1/2010 and can change at any time. The analysis looks at resale condos in Scottsdale 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 © 2010 Heather Tawes Nelson
Desert Mountain, one of Scottsdale Arizona's premier golf communities, spreads over 8,000 acres and is home to six challenging golf courses and six elegant clubhouses. Located in far North Scottsdale, Desert Mountain borders national forest land and showcases some of the most stunning valley views around. Below is an overview of of Desert Mountain's 2009 real estate performance as well as a sales comparison between 2008 and 2009. As you can see, the number of home sales in 2009 was significantly higher than in 2008. However, even though sales volume was higher, the average sales price and price per square foot were quite a bit lower in 2009. We also saw more discounting off of asking price with sales at 86% of list price in 2009 versus 90% in 2008. The number of days on market and average home size stayed more or less the same over the two years.
| Desert Mountain Scottsdale AZ | | |
| 2009 Real Estate Performance | | |
| | | |
| Homes for Sale on 1/1/2010 | | | |
| - Number of Homes | 242 | | |
| - Average Asking Price | $2,213,866 | | |
| - Average Square Feet | 4,885 | | |
| - Average Asking Price per Sq. Foot | $422.70 | | |
| - Average Days on Market* | 372 | | |
| | | |
| Pending Sales as of 1/1/2010 | | | |
| - Number of Homes | 10 | | |
| - Average Asking Price | $1,117,390 | | |
| - Average Square Feet | 3,966 | | |
| - Average Asking Price per Sq. Foot | $271.30 | | |
| - Average Days on Market* | 489 | | |
| | | |
| Home Sales | 2009 | 2008 | Difference |
| - Number of Home Sales | 92 | 67 | 25 |
| - Total Sales Volume | $137,471,031 | $139,439,111 | ($1,968,080) |
| - Average Sales Price | $1,494,250 | $2,081,181 | ($586,931) |
| - Sales Price to List Price | 86% | 90% | -4% |
| - Average Square Feet | 4,572 | 4,580 | -8 |
| - Average Sales Price per Sq. Foot | $310.84 | $425.25 | ($114.41) |
| - Average Days on Market* | 304 | 297 | 7 |
| - Highest Sale Price | $8,497,500 | $7,000,000 | $1,497,500 |
| - Lowest Sale Price | $434,000 | $575,000 | ($141,000) |
About Desert Mountain:
Desert Mountain is a guard-gated, 8,000 acre luxury community located in far North Scottsdale on the border of Carefree and the Tonto National Forest. There are several neighborhoods within Desert Mountain, many of them framing one of the six courses. Desert Mountain has a wonderful mixture of homes, from attached cottages to large custom homes. There are six Nicklaus golf courses on site as well as six clubhouses, a tennis complex with hard, clay and grass courts, a fitness center, miles of trails and a swim complex with multiple pools. Desert Mountain is a wonderful community with so much to offer.
View Desert Mountain Homes Less than $1,000,000
View Desert Mountain Homes from $1,000,000 - $2,000,000
View Desert Mountain Homes from $2,000,000
Disclaimer:
Information herein deemed reliable but not guaranteed. Data and information was pulled from the Arizona Regional MLS (ARMLS) as of 1/1/2010 and can change at any time. The analysis looks at home sale activity in the golf community of Desert Mountain in Scottsdale, Arizona. This blog represents the opinion of the author. No warranties implied or expressed.
Copyright © 2010 Heather Tawes Nelson
Lost Our Home Pet Foundation is an amazing non-profit based out of Scottsdale, Arizona. Lost Our Home is an organization founded and supported by a group of real estate professionals. It was created out of the need to rescue pets who were abandoned due to foreclosures or financial hardship. Nothing is more heartbreaking than stories of agents entering "vacant" homes and finding a pet or pets who have been left behind. Or, there are many cases of people who love their pets dearly but cannot afford to keep them and have nowhere to turn.
Founded approximately a year ago, Lost Our Home had a very impressive year. According to the founder and Execuive Director, Jody Polanski, over 400 pets Valleywide were helped by donations as well as many people volunteering their time, expertise and homes for fostering.
Some key successes:
- 342 pets found homes last year, including some that were reunited with their owners.
- Distribution of over 100,000 pounds of food via the food bank.
- Financial assistance for veterinary treatment for animals who were injured or hurt.
- Feral cat Trap, Alter and Release program for 120 cats.
On the Lost Our Home Pet Foundation website, there is a section for pet owners who need assistance as well as section for people looking to volunteer or help out in some way.
Lost Our Home is doing amazing things for these animals and what makes their achievements even more impressive is that they do not even have a shelter. Everything is handled by volunteers and foster families. And even though they have made great strides in their first year, the assistance requests are coming faster than can be accommodated and sadly they cannot help every pet in need. So, if you or someone you know might be interested in helping out in any way, I suggest you visit the website and contact them.
More Information:
Lost Our Home Pet Foundation
www.LostOurHome.org
Phone: (602) 230-HELP (4357)
The luxury condo market in Scottsdale, Phoenix and Tempe, Arizona ended the year with a strong finish. By the end of the month, two luxury condos had sold and another three were pending. I define the luxury condo market as condos on the market with list prices in excess of one million dollars.
Inventory went down slightly to 70 over November's 73 units for sale. Of these 70 units, the majority, 41, were in Scottsdale, 27 were in Phoenix and the remainder, 2, were in Tempe.
The two units that sold were both located in the Scottsdale Waterfront Residences community. One of them, the least expensive sale of the year in this category, was a two bedroom, two and one-half bathroom, 2,265 square foot short sale that was listed for $1,099,000 and sold for $800,000. The other sale was for a three bedroom, three bathroom, 3,472 square foot penthouse that was originally listed for $1,900,000 and sold for $1,750,000.
The three pending units are from three different communities, Optima Camelview in Scottsdale and Esplanade Place and Two Biltmore Estates in Phoenix. The unit at Optima Camelview is a brand new three bedroom, two and one-half bathroom, 2,593 square foot unit listed for $1,505,000. The Esplanade Place unit is a two bedroom, three bathroom, 3,000 square foot unit that is being sold furnished and is listed for $1,695,000. The final pending sale is a three bedroom, three and one-half bathroom, 3,890 square foot unit that is listed for $2,198,000.
| Luxury Condo Market - December 2009 | | |
| Phoenix, Tempe and Scottsdale AZ | | | |
| | All Luxury Condos | Scottsdale | Phoenix | Tempe |
| Luxury Condo Sales | | | | |
| - Number of Units for Sale | 70 | 41 | 27 | 2 |
| - Average Asking Price | $1,700,427 | $1,758,851 | $1,659,889 | $1,050,000 |
| - Average Asking Price Per Sq. Ft. | $612.05 | $682.17 | $516.45 | $465.27 |
| - Average Days on Market*- Active | 249 | 193 | 333 | 266 |
| - Number of Units Pending | 3 | 1 | 2 | 0 |
| - Average Pending Price | $1,799,333 | $1,505,000 | $1,946,500 | N/A |
| - Average Pending Price Per Sq. Ft. | $570.15 | $580.41 | $565.02 | N/A |
| - Number of Units Sold | 2 | 2 | 0 | 0 |
| - Average Sales Price | $1,275,000 | $1,275,000 | N/A | N/A |
| - Sales Price to List Price | 85% | 85% | N/A | N/A |
| - Average Sold Sq. Feet | 2,868 | 2,868 | N/A | N/A |
| - Average Sales Price per Sq. Ft. | $428.62 | $428.62 | N/A | N/A |
| - Average Days on Market* - Sold | 109 | 109 | N/A | N/A |
| - Highest Sale Price | $1,750,000 | $1,750,000 | N/A | N/A |
| - Lowest Sale Price | $800,000 | $800,000 | N/A | N/A |
| - Percentage of Total Sales | 100% | 100% | 0% | 0% |
| * Cumulative Days on Market | | | | |
Overall, December was a positive month for luxury condo sales in Scottsdale and Phoenix. Tempe did not fare as well as there was no activity once again. To learn more about the various luxury condo communities in the greater Phoenix valley, please click on the link.
Disclaimer: Information herein deemed reliable but not guaranteed. Data and information was pulled from the Arizona Regional MLS (ARMLS) as of 1/1/2010 and can change at any time. The analysis looks at single-family resale condos in Scottsdale, Tempe and Phoenix 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.
Copyright © 2009 Heather Tawes Nelson
Here are December's numbers the Scottsdale AZ luxury home market. This analysis looks at single-family resale homes in Scottsdale with list prices of $1,000,000 and above over the last twelve months.
- December 2009 -
Homes Priced Between $1,000,000 - $1,499,999
- Actives: There were 241 active homes on the market at the end of December. This figure has been decreasing for the last two months. The 12 month average for active homes is 434.
- Pendings: Seventeen homes were pending at the end of the month. This was a significant drop off (29.2%) from November when there were 24 pendings. This number is well behind the 12 month average of 28.
- Sold: Only 18 homes sold in December, the lowest amount since July of 2009. The 12 month average for sales in this price segment is 20.
- Sales Price to Listed Price: 88.3% - This is on the low side for this figure. It typically stays in the high-80%'s to low-90%'s.
Homes Priced Between $1,500,000 - $1,999,999
- Actives: There were 230 homes on the market in this price range, a 5% drop after two months of increases. The 12 month average is 260.
- Pendings: There were 20 pending sales, which is the highest amount of pendings seen in the last 12 months. The average over the last 12 months is 14.
- Sold: Sales were also strong this month with 13, a 62.5% increase over November's 8. This is the highest this number has been since July of 2009. The 12 month average is 9.
- Sales Price to Listed Price: 87.0% - This number is pretty representative for this price range. We did have two consecutive months in the low 90%'s, but we are now back into the 80%'s.
Homes Priced Between $2,000,000 - $2,999,999
- Actives: Actives were down to 238 at the end of December, ending a four month increase in inventory for this segment. The 12 month average is 283.
- Pendings: Eleven homes were pending, which is the second highest this figure has been in the last year, which was 12 in June. This tracks well ahead of the 12 month average of 8.
- Sold: There were six home sales, which was a decent showing for the end of the year. The 12 month average is 5.
- Sales Price to Listed Price: 85.8% - This is the lowest this figure has been since July. Over the last several months, this number was in the low 90%'s and high 80%'s.
Homes Priced $3,000,000+
- Actives: 143 homes priced in excess of $3M were on the market at the end of December. This was a 7.7% drop over November. The 12 month average is 194.
- Pendings: Three homes were pending, which is a major improvement over November's single pending sale. The 12 month average is 4.
- Sold: Only one home sold in December in this price range. The 12 month average is 3.
- Sales Price to Listed Price: 87.7% -This is the second highest this ratio has been in the last year. Only June, with 90.7% did better.
As you can see, performance between the different segments varied in December. The lowest priced segment ($1,000,000-$1,499,999) performed poorly and the highest priced segment ($3,000,000+) did well on pendings, but poorly on sales. The two price ranges in the middle had strong performances to finish out the year. Inventory is down, but some of that can be attributed to the large number of listings that expired at the end of the year.
To see the detailed data behind this report, please visit my Scottsdale luxury real estate market reports page and click on the "Scottsdale Market Trends" report. For other information on the Scottsdale real estate market and the surrounding areas, please visit my Real Estate Market Reports page.
Disclaimer:
Information herein deemed reliable but not guaranteed. Data and information was pulled from the Arizona Regional MLS (ARMLS) as of 1/1/2010 and can change at any time. The analysis looks at single-family resale homes in Scottsdale 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 © 2009 Heather Tawes Nelson
December was a good month to end the year for Scottsdale AZ real estate sales. Sales were up over November and inventory declined. The one concern is that pending sales dropped below the 12 month average for the first time since March 2009.
December 2009 Findings
Active Homes for Sale: The number of homes on the market decreased over 5% to 2,755. This is the second month in a row where this number has declined. However, my guess is that a large part of the decline is due to the fact that many listings expired at the end of the month. The 12 month average is for active homes on the market is 3,220.
Pending Home Sales: Pending sales continued to drop. At the end of December, there were 438 pending sales, down 9.3% from November's 483. This is the first time this figure has tracked behind the 12 month average of 461 pending sales since March 2009.
Homes Sold: Homes sales came in at 364, up 5.5% over November's 345. Some of this activity can be attributed to people trying to close escrow before the end of the year. The 12 month average for home sales is 319.
Sales Price to List Price: 91.9% - This is about average for what we would expect. Homes are selling at average of 8% off of the asking price.
It was nice to see December's sales figures go up to cap off the year. The key will be to keep inventories low and to get the pending sale pipeline strong again.
Disclaimer: Data and information was pulled from the Arizona Regional MLS (ARMLS) as of 1/1/2010 and can change at any time. The analysis looks at single-family 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.
Copyright © 2009 Heather Tawes Nelson
Here are the figures for the Luxury Condo Market in Scottsdale, Phoenix and Tempe, Arizona for the month of November 2009. The luxury condo market is defined as condos for sale with list prices in excess of $1 million.
Inventory has been increasing over the last few months. In September, there were 65 units for sale Valleywide and in October, there were 68. By the end of November, there were 73 units on the market priced in excess of $1 million. Scottsdale had the highest number of units on the market with 37, followed closely by Phoenix with 30 and then Tempe, with 6.
November was a positive month for luxury condos. At the end of the month two units had sold and two units were pending. The two sales were in luxury developments in Scottsdale. One of them was a two bedroom, two bathroom, 2,566 square foot unit at Landmark near Kierland for $1 million even. The second sale was at Optima Camelview and it was a brand new, three bedroom, two bathroom, 3,217 square foot penthouse for $1,610,000. The pending sales were split between Scottsdale and Phoenix. One of the units is located at the Scottsdale Waterfront. It is a three bedroom, three and one-half bathroom, 2,500 square foot unit listed for $1,399,000. The other pending sale is at Esplanade Place in Phoenix and is a two bedroom, three bathroom, 3,000 square foot unit listed for $1,695,000.
| Luxury Condo Market - November 2009 | | |
| | All Luxury Condos | Scottsdale | Phoenix | Tempe |
| Luxury Condo Sales | | | | |
| - Number of Units for Sale | 73 | 37 | 30 | 6 |
| - Average Asking Price | $1,727,594 | $1,764,254 | $1,747,913 | $1,399,993 |
| - Average Asking Price Per Sq. Ft. | $605.66 | $693.32 | $533.09 | $427.94 |
| - Average Days on Market*- Active | 252 | 228 | 306 | 144 |
| - Number of Units Pending | 2 | 1 | 1 | 0 |
| - Average Pending Price | $1,547,000 | $1,399,000 | $1,695,000 | N/A |
| - Average Pending Price Per Sq. Ft. | $562.30 | $559.60 | $565.00 | N/A |
| - Number of Units Sold | 2% | 2% | $0 | $0 |
| - Average Sales Price | $1,305,000 | $1,305,000 | N/A | N/A |
| - Sales Price to List Price | 81% | 81% | N/A | N/A |
| - Average Sold Sq. Feet | 2,892 | 2,892 | N/A | N/A |
| - Average Sales Price per Sq. Ft. | $445.09 | $445.09 | N/A | N/A |
| - Average Days on Market* - Sold | 121 | 121 | N/A | N/A |
| - Highest Sale Price | $1,610,000 | $1,610,000 | N/A | N/A |
| - Lowest Sale Price | $1,000,000 | $1,000,000 | N/A | N/A |
| - Percentage of Total Sales | 1000% | 100% | 0% | 0% |
| * Cumulative Days on Market | | | | |
Again, November was a good month for the luxury condo market in Scottsdale, Phoenix and Tempe. Ideally, the two pending sales will close escrow in December, allowing a strong ending to the year.
Click to learn more about the various luxury condo communities in the greater Phoenix valley.
Disclaimer: Information herein deemed reliable but not guaranteed. Data and information was pulled from the Arizona Regional MLS (ARMLS) as of 12/1/2009 and can change at any time. The analysis looks at single-family resale condos in Scottsdale, Tempe and Phoenix 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.
Copyright © 2009 Heather Tawes Nelson
Below is a look at November’s sales activity for the Scottsdale AZ luxury home market. This analysis looks at the sales activity for single-family resale homes in Scottsdale priced at $1,000,000 and above over the last 12 months.
- November 2009 -
Homes Priced Between $1,000,000 - $1,499,999
- Actives: There were 358 homes in the market at the end of November in this price range. There was 8% drop in the number of homes on the market from October’s 389. The 12 month average is 449.
- Pendings: Pending sales were down in November to 24, compared to October’s 27. The twelve month average for this is 27, so we are tracking slightly behind.
- Sold: Twenty homes sold in November, down from the high of 29 we saw in June and September of this year. This figure is slightly ahead of the 12 month average of 19.
- Sales Price to Listed Price: 91.7% - This is pretty standard for this price range.
Homes Priced Between $1,500,000 - $1,999,999
- Actives: At the end of November, there were 242 homes for sale in this price point. This number has been steadily increasing since September when we saw a low of 212. The 12 month average is 265.
- Pendings: Eighteen homes were pending sale. This is the second highest this figure has been over the last 12 months. The 12 month average for this price range is 13.
- Sold: Eight homes sold in November, which is down from September’s 10 and October’s 12. However, this figure is tracking the same as the 12 month average of 8.
- Sales Price to Listed Price: 92.8% - After spending many months in the 80%’s, this ratio has been in the 90%’s for the last two months.
Homes Priced Between $2,000,000 - $2,999,999
- Actives: 247 homes were for sale in this price range at the end of the month. This number has been increasing since August, when there were 222 homes on the market. The 12 month average is 292.
- Pendings: There were eight pending sales in November, the highest this figure has been since June, when there were 12. This is slightly ahead of the 12 month average of 7.
- Sold: Four homes were sold last month. This is just behind the 12 month average of 5.
- Sales Price to Listed Price: 88.3% - This is pretty typical for this price range where buyers are averaging over 10% off the asking price.
Homes Priced $3,000,000+
- Actives: There were 155 active homes on the market in excess of $3 million. This figure dipped slightly over October’s 157. The 12 month average is 206.
- Pendings: Only one home was pending sale at the end of the month, well below the 12 month average of 4.
- Sold: Two homes sold in November, which is below the 12 month average of 3. And, based on the pending figure of 1, I anticipate December’s sales to be poor.
- Sales Price to Listed Price: 77.3% - This figure is all over the place. In August, it was 64.7% and in June it was 90.7%. Because so few homes sell monthly in this price range, this ratio will experience more volatility.
November, overall, was a disappointing month for luxury home sales in Scottsdale AZ. In most cases, inventory was up (albeit slightly) and pending sales and sales were down. And based on pending sales activity, December looks to be another lackluster month.
To see the detailed data behind this report, please visit my Scottsdale luxury real estate market reports page and click on the "Scottsdale Market Trends" report. For other information on the Scottsdale real estate market and the surrounding areas, please visit my Real Estate Market Reports page.
Disclaimer:
Information herein deemed reliable but not guaranteed. Data and information was pulled from the Arizona Regional MLS (ARMLS) as of 12/1/2009 & 12/2/2009 and can change at any time. The analysis looks at single-family resale homes in Scottsdale 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 © 2009 Heather Tawes Nelson