DEDICATED SERVICE TO YOU 110% 365 24/7. 

"Expertise is critical to achieve the highest level of success in any endeavor".  My expertise leads my home buying clients to purchase only 'Pinnacle" homes. These are the ICONIC homes in the neighborhood or the GEM home within their price range. Procured through all my resources, including off market listings, special search offerings and of course, the Realtor MLS.

Selling clients experience an unparalleled level of high quality pre-market preparation and once on market, marketing, follow up and exposure that is second to none in the business. This has been evidenced by my multiple record breaking community sales.

LATEST - HOME PRICES SCOTTSDALE FROM 1 Million to 30 Million. 

Segment Market Pricing Below - Bookmark this tab to check in for monthly updates.  Latest Home Price Update, May 7th - 2024 for Scottsdale, Paradise Valley and Phoenix - Comparisons and Trends Study. 

HOME PRICES UPDATE PHOENIX -

Phoenix overall, The average price per square foot sale price for all areas & types of housing in the Phoenix Metro area is currently at $300.00 per square foot. The record high for the same study was in June of 2022- when the all time record high reached $306.00 PSF. So the good news for home buyers is, we are seeing some overall price improvement. 

SCOTTSDALE HOME PRICING FROM 1 MILLION to 1.5 MILLION

Trend review first:   On January 27th 2024 there were 265 active listings in Scottsdale in the 1 mil to 1.5 mil price range.  Ranging in size from 1750 square feet to 4418 square feet.  On March 20th, there were 327 active home listings in Scottsdale priced between 1m and 1.5m.

A whopping 35% increase. Today May 7th 2024, inventory in the 1m to 1.5m range is relatively steady at 316 active listings.

The average per square foot sale price for SFR homes - built between 0 and 2021 and sold between 1m and 1.5m is $449.35. In March the average sale price using same criteria was $447.70.  A difference of + 0.3% .

BELOW ARE A SAMPLE OF AN INTERIOR AND VIEW FROM THOSE RECENT SALES

Homes Scottsdale in 1 Million to 1.5 price range

Above Home Sold for 1.44 - Image is interior sample

View home Scottsdale 1.3 million sale

Above Home Sold for 1.3 

 For those reading , please let me know if you enjoy the comparison notes.  I consider comparison notes more helpful, than daily stats without comparisons to reflect trends.  

 

SCOTTSDALE HOME PRICING FROM 1.5 MILLION TO 2 MILLION 

SCOTTSDALE Luxury starts at 1.5 million. Let's look at the numbers.  On March 15th 2024 there were 219 active SFR home listings between 1.5 and 2m - Inventory was up 11% from January.. Closings for the 30 days up to and including March 15th - in the 1.5 and 2 million (SFR) in Scottsdale was $505.10 psf. Based on 68 sales (Homes built between 0 and 2021) .  On April 24th using the same criteria, the psf sale price number was 503.88. A drop of 0.24% . On May7th there were 222 Active listings priced between 1.5 and 2m. .

I exclude new or near new construction pricing here as to not skew resale market numbers. Please feel free to call for new construction housing pricing and stats. 

*Please Note - Since Most Sale Closings take 30 to 45 days - In order to see market trends - I study and prepare new studies accordingly. 

SCOTTSDALE HOME PRICES 2 MILLION to 3 MILLION

*Please feel free call for additional numbers in any price range or area.

Scottsdale Homes priced between 2 million and 3 Million are still a favorite of cash buyers and those home buyers interested in comfort now. On January 31st, The average PSF price in the 2m to 3m range  was $590.48 psf.. On March 15th (including 30 days prior for SFR homes built between 0 and 2021) The average PSF sale price was near identical at $590.15 Based on 34 sales, At the time there were 261 active home listings between 2m and 3m - Inventory was up 9% since February. The current average psf sale price of homes (SFR homes built between 0 and 2021) selling between 2m and 3 million in Scottsdale is $599.72 psf.  Based on 59 sales. Up 1.6% in the last 30 days. Our Peak selling season.

As an interesting comparison - In this same period of 2022 - (using same base criteria) The average psf sale price was $569.14 based on 69 sales. For those who really love looking back.. In the year 2018 (same period) - There were only 19 sales in this price range and the average PSF price was $418.56. 

HOME PRICES IN SCOTTSDALE 3 million and Over

SCOTTSDALE  Starting the year and ending January 31st 2024. The average per square foot sale price of homes at over 3 million (SFR -built up to 2021) was $722.73 psf with 14 sales. Between Feb 14th -  March 15th the PSF number was $776.55 based on 23 sales.  At the time there were 317 Active home listings over 3m - Inventory was up 8.9% since January. The current average psf sale price of homes over 3 million in Scottsdale (SFR homes built between 0 and 2021) is $751.51 psf based on an impressive 40 sales. The psf sale prices represent a 3.2% drop from Feb/March numbers. The list versus sale price difference was an average of 3.8% Noting: The highest 3m plus sale being in the Silverleaf Community at 10.4m.

Silverleaf consistently has some of the highest average psf sale prices and highest dollar sale prices The second highest sale this period was in Pima Acres at 5.8 million with a psf sale price of $802.32

Housing Inventory in Greater Phoenix including Scottsdale

For those of you who have been waiting for prices to drop since last year and for many, waiting several years. From the market data above, we can see some settling and even a very slight downturn on homes priced 3 million and above. 

Housing Inventory Buyer Tip

** Today’s TIP is - When buying, ‘ be patient and purchase, " the  most exceptional home - on the best lot"; these homes will always earn a higher sale price - relative to market and be more pleasurable to live in. One of the key reasons to work with a Realtor with the most expertise and integrity is, his/her ability to insure you are honestly guided to that rare gem home. The consumer can certainly see the differences between homes within a given time frame, however distinguishing between what’s been seen... and what is possible is one of the many key values of 20 years of expertise, integrity and talent.

The Most Important Numbers to Watch - Housing Inventory - TRENDS

Housing Inventory in the Phoenix Metro area . On July 28th 2023, there were just over 11,000 homes for sale in the entire Phoenix area. In very early September 2023 there were 12,835. On November 26th 2023 that number rose to 16,500 homes on market. On March 20th 2024 17,551. - On May 13th 18,340 Now May 21st we are up to 18,472 - Rising another 132 in under 10 days. The represents a 42% INCREASE in just 7 months.  To see today's rates to current market fluctuations. Check out -  TODAY'S Mortgage Rates. 

 

OBSERVATION NOTES

- The trend over last few months is a slowing , settling or retracting of previous
home price increases - corresponding with increases in housing inventory. For most
or all you reading - simple supply and demand economics are increasingly affecting
sales prices. To discuss future how this will affect the market over next 6 months and
my pricing projections, please feel free to call, always my pleasure to assist and help 
others as they make important home buying or selling decisions

 

Paradise Valley Real Estate Snapshot   

Please click this link. 

Scottsdale - Paradise Valley Real Estate Market Statistics - by the Numbers

Read this monthly report for the latest - Homes Prices Scottsdale - Paradise Valley. The ARMLS (Realtor Data and Statistics site) numbers for November 2023 compared to previous months for all areas & types: These stats are available as the "Sold Homes" are recorded with Maricopa county. Accordingly, for up to minute stats on a neighborhood or 'available listings' in a specific neighborhood, Please call me. It is my pleasure to discuss any specific home pricing updates. Or to review any Paradise Valley or Scottsdale Community or home of interest.

HOME BUYING TIP FOR ARIZONA'S BEST HOMES

 In a interview for a national news syndicate, regarding the NAR settlement ,  A broker in Florida was recently quoted as saying, " the public does not see the value in the buyer agent right now". And unfortunately for many buyers this is very true. There is a perception from much of the buying public, that Realtors are interchangeable. So buyers find someone they like buy a home and give a 5 star review for handling the process well and being friendly. The elementary process of buying a home can in fact can be navigated by an above average, friendly desk clerk. The facts are being a GREAT Realtor, Attorney, heart surgeon requires experience, intelligence, integrity and talent for the more important elements.  The difference is when working with GREAT Realtor, you end up in the best home your money at the best price. And yet most buyers never realize this because;  unlike the old game show... they never get to see what was behind box number two or have the advantage of seeing how the best Realtor would have negotiated the price, terms or inspections.  Call me for 20 plus years of excellence.   

New Day New Housing Market updates

Sales Contract Statistics Available by Text

Scottsdale and Paradise Valley Home Prices and Stats

* Scottsdale Homes for Sale from $500,000 to $1,000,000 - Call or Text

* Scottsdale Home listings for Sale from $1001,000 to $2,000,000 - Text or Call

* Paradise Valley Homes For Sale between $2,500,000 and $7,500,000 - Call or Text

* Homes for Sale in Scottsdale listed range of $2,000,000 and $5,000,000 - Call or text

Phoenix Metro - Home Prices and Market Stats

Pending Listings Scottsdale: - Call me for up to minute

Active listings in greater Phoenix including Scottsdale and PV

Total area measure is over 515 Square Miles of the Phoenix MLS

Under Contract Listings (including Pending, CCBS & UCB): Call for up to minute

Monthly Unit Sales: Are DOWN.  For a detailed report - Text me

Highest Price drops this Month - This fact is always interesting - Call

Monthly Median Home Sales Price:  Interesting number - Email or Call

Market Update Definitions and Resources

 

THE MARKET INDEX REPORT (New update by May 20th)

Market Index -  Is a numeric value that provides a short term forecast for the balance of the market. It is derived from the trends in pending, active and sold listings compared with historical data over the previous four years. Values below 100 indicate a buyer's market, whereas values above 100 indicate a seller's market. Comparatively - A value of 100 indicates a balanced market. In fact,  On April 18th Scottsdale was at 131. Comparatively, Paradise Valley has also just dropped a from a MI was 107, today Paradise Valley has a MI of 103.  In comparison, in May of 2022 Paradise Valley had a MI of 453, an unheard of 'tip of the home scale" - *favoring sellers. For additional perspective, Paradise Valley ran an average of 440 days of inventory in 2015. Currently Paradise Valley has 218 days of inventory.. Scottsdale currently has 168 annual days of housing inventory (Homes priced from 1m to 30m) UP 46% ! from 115 days in September.  *In June of 2022, Scottsdale had under 60 days of inventory. 

*** What does this month's Market Index Show today for other cities - Please call for details. This is Changing daily!

REPORT UPDATED FOR YOU 40 DAYS - Allows time to show trends. 

Please call me for a more details and personalized analysis.  My pleasure to review them with you. In addition, I am here to provide you excellent representation and counsel when buying or selling a home.

Again please enjoy the graphs and market report. And please call me for additional information. Noting: Entire report updated at least every 55 days. In other words, bookmark this page.

Call Michael Chaisson Realtor - Multi Award Winning Realtor - Launch Realty Powered By Compass - Specializing in Luxury Homes in Scottsdale, Paradise Valley and the greater Phoenix area. 480-450-4632