LIFESTYLE WHISPER ROCK ESTATES
October 2022
Mid-Season Real Estate Snapshot
Exclusively Presented By Luxury Property Group
WR Estates Market – HOMES
Whisper Rock Fall Real Estate Snapshot
W
e are pleased to provide our annual “Mid-Season Real Estate Update” and we hope that you are all healthy, happy and enjoying the summer. First, we want to share with you the success of your on-site real estate team. Will Foote, Jay Pennypacker, Mike Holder and Debbie Negrin (Luxury Property Group) have sold over $205 million in real estate during the last year. We were involved in 13 transactions in WR Estates and an additional 66 transactions outside the gates. Our production places us as the #1 overall producing team in the state of Arizona and the #51 in America as recognized by the Wall Street Journal. Check out the table on the back page showing our sales outside of WR Estates. Our team continues to outperform all other real estate groups with the highest volume of sales and number of transactions in WR Estates. We were involved in over 50% of the $47 million in sales in WR Estates during the last 12 months with homes and land consistently selling at a higher price per square foot and overall sales price with our team. Over the past two decades our team members have been involved in 222 transactions behind the gates of WR Estates! Luxury Property Group is a boutique real estate group offering personalized customer service that exceeds the expectations of our clients, which is consistent with the brand and identity of WR Estates. We have a deep understanding of the WR Estates lifestyle which enables us to deliver the best marketing platform and sales results in the community and beyond.
LUXURY | DEFINED
During the last 12 months there have been a total of 11 home sales compared to 23 home sales the previous year. The average sale price for homes in WR Estates has increased by 43% over the last 12 months averaging $3,349,545 this year versus $2,338,425 last year. Additionally, the average price per square foot has increased during the last 12 months finishing at $620 per square foot this year versus $445 per square foot last year; a 39% increase. Home sales pricing ranged from $1,950,000 - $6,250,000.
HOMES:
# SOLD 11
AVERAGE PRICE $3,349,545
WR Estates Market – LOTS The lot market has dropped during the last year compared to the previous 12 months. 9 lots sold this year versus 23 lot sales last year. However, the average lot sale price during the last 12 months has jumped averaging $1,058,333 which is 57% increase over the previous year average of $672,133.
LOTS:
# SOLD 9
AVERAGE PRICE $1,058,333
Overall Luxury Market in North Scottsdale When we review the luxury HOME market in North Scottsdale we utilize the 85262 and 85266 zip codes and include homes that closed at $1,000,000 or greater. In this market volume has continued to improve with a 15% increase in sales volume, while the average sales price has increased by 7% during the last 12 months. Overall, 1022 homes have sold in the last 12 months compared to 887 sales during the previous 12 months. Average sales price is $2,095,468 this year compared to $1,958,999 last year. Furthermore, the average sale price per square foot has increased by 20% averaging $493 this year compared to $411 last year. As it relates to the ultra luxury market that includes sales over $3,000,000, there were 143 sales this year compared to 124 during the previous 12 months; a 15% increase.
Listed to the left are the detailed statistics for WR Estates sales this year.
The luxury LOT market in North Scottsdale is measured again using the 85262 and 85266 zip codes and includes lots that have closed at $300,000 or greater. Lot sales volume has dropped with 166 lots selling in the last 12 months compared to 225 sales during the previous 12 months; a 26% decrease. However, average sales price has increased significantly averaging $810,258 this year versus $572,003 last year; a 42% increase. As it relates to days on market for luxury lots selling over $300,000, the average this year is 175 days versus 349 days to sell last year. In closing, thank you for your business and your time reading this update. Please feel free contacting any member of our team for assistance in evaluating your real estate needs. You will continue to receive the very best real estate services from our group and we will always go the extra mile for you. Warm regards,
Will Foote | Jay Pennypacker | Mike Holder | Debbie Negrin Luxury Property Group
WHISPER ROCK
8459 E Old Field Road, Scottsdale | $4,500,000 5,385 Square Feet 4 Bedrooms | 5.5 Bathrooms | Office | 3-Car Garage
Contact us today at LPG@RussLyon.com for more information! JAY PENNYPACKER
602.570.3962 c DEBBIE NEGRIN
480.734.3498 c
WILL FOOTE
480.242.2483 c
Luxury | Defined
Luxury Property Group is a consistent top-producer in the luxury market and possesses an intimate knowledge of North Scottsdale. Whether you are looking to purchase a lot or home or want to sell a property you currently own, our team provides complete sales and marketing services.
MIKE HOLDER
602.432.3273 c If your home is currently listed, this is not a solicitation for that listing.
Produced by Prime Source & DLP • 480.921.0511 • PrimeSourceAZ.com