by Dru Bloomfield on June 3, 2010
The editor for the Scottsdale Airpark News contacted me after reading a post I wrote, Scottsdale Home Buyers Following National Home Buyer Trends 2010?
She asked me if I could write an article more specific to the Scottsdale Airpark, which runs from about Shea Boulevard north to Pinnacle Peak Road, primarily zip codes 85254, 85255, and 85260.
After doing a bit more research, I wrote an update, Scottsdale Follow National Home Builder Trends, which was published in the June 2010 edition of the paper. As soon as it’s available on the web site, I’ll link to it, too.
The most significant update to the original article was that I interviewed a couple of local real estate agents in new home communities in DC Ranch and Grayhawk. The perspective the agents shared was insightful, and will give you some sense of what many Scottsdale home buyers are looking for.
Read the full article here: Scottsdale Follow National Home Builder Trends
Link to Scottsdale Airpark News copy: Scottsdale Follow National Home Builder Trends
by Dru Bloomfield on April 12, 2010
Yes, it’s true, listing prices for Scottsdale condos continue to decline….
….in all price ranges.
The statistics for the properties in this following report are divided as follows:
![clip_image001[5]](http://athomeinscottsdale.com/wp-content/uploads/2010/04/clip_image0015_thumb.gif "clip_image001[5]")
However, the time to sell appears to have stabilized, with active listings currently hovering just under 150 days to sell, since January 2010.
![clip_image001[7]](http://athomeinscottsdale.com/wp-content/uploads/2010/04/clip_image0017_thumb.gif "clip_image001[7]")
Interestingly, the time to sell lower priced condos is increasing, while those on the upper end are selling more quickly. This could have a lot to do with the challenges of getting financing, particularly FHA financing, for condos.
![clip_image001[9]](http://athomeinscottsdale.com/wp-content/uploads/2010/04/clip_image0019_thumb.gif "clip_image001[9]")
Data Source: Altos Research
by Dru Bloomfield on March 4, 2010
Sitting here at my desk this afternoon, completing the final paper for a house that sold this week, I found myself wondering if the number of houses for sale in Scottsdale has decreased, now that we are into the spring selling season. I’ve been as busy as ever, and I know many other agents are too, so thought it was worth a quick look.
Courtesy of Altos Research, I pulled the following two charts. Looking at the whole of Scottsdale, you can see that the number of single family houses for sale (inventory) has dropped by about 25% since this time last year. However, just looking at the past six months, it appears that the number of homes available has stayed about the same.
Still a bit curious, I took a look at four Scottsdale zip codes that cover a wide range of house prices, from 85257 in South Scottsdale, to McCormick Ranch in 85258, to DC Ranch in 85255, onto the far north of zip code 85262. Median home prices in these zips, definitely increase the farther north you go.
As you can see, the higher priced areas have followed the trend of declining (25-30%), and then plateauing in the past six months. What you see in the lower price ranges, are significantly fewer homes for sale, and a steady supply over the past year.
What I think I find most amazing in the chart is how few homes are actually for sale in Scottsdale 85257. Not a lot to choose from, which has to be a positive for home sellers with equity and a well-maintained home!
by Dru Bloomfield on February 5, 2010
Last summer, pre-foreclosures and lender-owned properties made up 25% of the active listings in the MLS. However, about 45% of the actual sales were distressed properties. Average price per square for a normal home sale was just over $200 per square foot, $150/sf for a pre-foreclosure, and closer to $140/sf for lender owned properties.
Looking at where we are today, you can see that we have a slightly larger number of pre-foreclosures on the market and about 50% of all the properties sold in January were either pre-foreclosure (and most likely short sales) or lender-owned (REO) properties. What is very interesting is that the average price per square foot has increased for all property types, to almost $240/sf for normal sales, to about $160/sf for pre-foreclosures, and to $150/sf for foreclosures.
I expected the higher numbers of distressed listings and sales. However, the increased price per square foot was totally unexpected.
I’ve been seeing an increase in prices in the lower end of the real estate market in various cities around Phoenix, but have not seen much of that pricing behavior in Scottsdale yet. By the numbers though, it is happening. Surprised me…. what do you think?
by Dru Bloomfield on October 15, 2009
What a great surprise and honor to find out AtHomeInScottsdale.com was included in a recent article on “Must-Read Real Estate Blogs“ by Francesca Levy.
The sub-title of the article “Even small, neighborhood-specific issues discussed online can be of interest to a national audience” set the tone for Franceca’s article and mentioned many other real estate bloggers from around the nation, including local blogging phenomenon, Jay Thompson, over at The Phoenix Real Estate Guy.
Many home buyers and sellers are changing the way they interview agents, doing a lot of research on-line, before ever making contact via email, phone, or text. You all have busy lives, and my goal is to provide current Scottsdale (and sometimes Phoenix) real estate information, that’s available day or night.
If there’s ever a topic, you’d like me to cover, just let me know.
( Many thanks to Mike Simonsen, CEO of Altos Research, for tipping me off about the article and for providing current statistics about the Scottsdale real estate market!)
by Dru Bloomfield on August 30, 2009
Scottsdale home prices have plateaued over the past 3 months. Price per square foot is one indicator of market health, and you can see that in Scottsdale, that figure has been hovering in the $180/square foot range.
At the same time, you can see that prices are still down 10%, when compared to this year’s annual average, and down 21.6% when compared to the same month last year.
![clip_image001[5]](http://athomeinscottsdale.com/wp-content/uploads/2010/04/clip_image0015.gif "clip_image001[5]")
![clip_image001[7]](http://athomeinscottsdale.com/wp-content/uploads/2010/04/clip_image0017.gif "clip_image001[7]")
![clip_image001[9]](http://athomeinscottsdale.com/wp-content/uploads/2010/04/clip_image0019.gif "clip_image001[9]")
