Oct. 30, 2020
Attached are charts showing real estate market activity in the Phoenix area with an emphasis on Scottsdale and Paradise Valley. The chart is based on statistical data from sold home prices and denotes the "per square foot"
sold home price increases and decreases between now and the corresponding period in 2019. In last 60 days,
real estate prices continue to jump with high demand, extremely low inventory. There is no slow down in sight. In Paradise Valley for example, I am seeing homes (multiple homes) that sold 9 months ago for, or in the 2.3 million range being re-listed this month for over 3 million. Buyers beware!! And the scary part is, most of the Real Estate agents out there will NOT be guiding buyers with the extreme expertise and integrity required in this market.
Scottsdale was up a strong 6.3%, now one month later it is up 8.1% The Home buying train is a bullet train. To buyers comparing this to the 2008 crash, there are two very different drivers pushing the market. Whereas in 2004
through 2006 there were a significant number of investors buying homes 2, 3 and 4 homes almost like a pyramid
scheme now the market is being driven by solid demand from real buyers in the Phoenix area and a huge influx
of buyers recognizing the amazing lifestyle the Scottsdale - Phoenix area represents.
The reports /charts below are always based on sold closings, so inherently about 45 days behind the actual market. I can share from showing and selling homes seven days a week ( In Paradise Valley and Scottsdale) there are bidding wars for nearly every home that is presented well, has a good floor plan and is priced reasonably within market conditions. I showed a luxury home today listed for over 1.3 million where you could hear the cars roaring by on the busy street from master bedroom and there were already two offers on it.
REPORT UPDATED FOR YOU EVERY MONTH - OCT NUMBERS OUT BY NOV 4th.
Please call me for a more detailed analysis. My pleasure to review them with you.
The next report in mid/late October. Please call anytime if you are looking for excellent representation buying or selling a home. Always done with integrity... Please remember, Integrity and expertise is not a quality of being sweet or friendly but of every action and deed.
Again please enjoy the graphs and market report and please call me for additional information. Noting again.
Call Michael Chaisson Realtor RL Sotheby's International Realty Specializing in luxury homes in Scottsdale, Paradise Valley and the greater Phoenix area. 480-450-4632
Entire report updated every 35 days.