Scottsdale Home Buyers Following National Home Buyer Trends 2010?

As an Accredited Real Estate Buyer’s Representative of the National Association of REALTOR®, I get the benefit of regular industry updates that give me insight into current housing trends.

Home Sizes Decreasing

Today, I was reading an article about the trend towards smaller homes, which shared that:

• The average size of a new single family home was flat in 2008 and decreased in 2009.
• Homes with at least three bedrooms decreased in 2009, for the first time since 1992.
• The number of homes with four bedrooms have been decreasing since 2007.
• Homes with two stories peaked in 2006, and have been on a downward trend since.

New Home Builder Trends

The article “Home Trends 2010: Consumers’ Most Sought-after Features” also included a list of the ten most likely features that builders will include in 2010:

1. Walk-in Closet in Master Bedroom
2. Laundry Room
3. Insulated Front Door
4. Great Room
5. Low-e Windows
6. Linen Closet
7. Programmable Thermostat
8. Energy Efficient Appliances and Lighting
9. Separate Shower & Tub in Master Bedroom
10. 9-foot Ceilings or Higher on First Floor

Comparing Scottsdale to National Trends

From my perspective working with buyers in the Scottsdale area, I would agree with most of the list, but find that the insulated front door and programmable thermostat have never been on my client’s wish lists.  However, ceiling fans, a newer (or high-efficiency) air conditioner, and a good roof are a big demand item in our area. And great outdoor living spaces are often a requirement, too. I think it’s just the difference in climate.

Buyers are more more concerned with heat than cold here. And because it’s so dry, roof materials dry out, and are more inclined to leak during our summer monsoon rains. And when the weathers beautiful, which if very often, home owners want to be outside.

Other features on the builders’ list are definitely similar to those that I get from buyers moving into the area.  However, buyers quickly learn the differences between north and south Scottsdale, both in age and price of home.

Existing Scottsdale Homes

Older ranches in South Scottsdale are single story, in the range of 900-1500 square feet, and often 3 bedroom.  They typically do not have walk-in closets, high ceilings, or great rooms.  The laundry rooms are sometimes in a separate small workroom or in the garage.  Master baths typically just have a small shower.

The farther north you look in Scottsdale, the newer the homes.  And the newer the home, the more likely it will have high ceilings,  a great room, walk-in closets (sometimes in all bedrooms), and large spacious master bathrooms.  These houses will be much larger, ranging from 1,800-5,000 square feet, and more. Two story homes are more common.  High-efficiency appliances are the norm, too.

New Home Communities

There are only a few new home communities in the Scottsdale area, since the city is mostly built-out. As of today, I know of Wingate Ranch, Sera Brisa, Montacino at McDowell Mountain Ranch, Rosewood at DC Ranch, Verandahs at Silverleaf, Quisana at Troon North, and a couple more in the most-northern parts of Scottsdale.  Prices for these new homes range from $550K-$1.5M, so are often out of reach for many buyers.

The size of homes in these communities has not decreased, however, you will find, most if not all of the building features in these upper end homes.

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