LPG Group | Estancia Lifestyle

NEIGHBORHOOD

SALE PRICE

LPG REPRESENTATION

Optima Kierland

$500,000

Seller

Desert Ridge

$520,000

Seller

Scottsdale

$610,000

Seller

Grayhawk

$625,000

Buyer

Troon North

$659,300

Buyer

DC Ranch

$688,000

Seller

DC Ranch

$735,000

Seller

Scottsdale

$799,000

Seller

Desert Mountain

$800,000

Seller

DC Ranch

$880,000

Buyer

Grayhawk

$935,000

Buyer

Scottsdale

$1,130,000

Buyer

DC Ranch

$1,295,000

Seller

Troon North

$1,300,000

Seller

Scottsdale

$1,312,500

Seller

Windy Walk Estates

$1,325,000

Seller

DC Ranch

$1,350,000

Seller

Optima Kierland

$1,390,000

Seller

Silverleaf

$1,490,000

Buyer

Optima Kierland

$1,583,000

Seller

Silverleaf

$1,600,000

Buyer

Whisper Rock Estates

$1,744,100

Buyer/Seller

Sincuidados

$1,795,000

Buyer

Whisper Rock Estates

$1,865,600

Buyer/Seller

Whisper Rock Estates

$1,882,700

Buyer/Seller

Whisper Rock Estates

$1,917,000

Seller

Optima Kierland

$1,950,000

Seller

Whisper Rock Estates

$1,950,000

Seller

Whisper Rock Estates

$1,967,700

Buyer/Seller

Privada - Four Seasons

$1,975,000

Buyer/Seller

Whisper Rock Estates

$2,300,000

Seller

Lost Canyon

$2,500,000

Seller

Desert Mountain

$2,550,000

Buyer/Seller

Whisper Rock Estates

$2,589,000

Seller

Silverleaf

$2,750,000

Seller

Whisper Rock Estates

$2,800,000

Seller

Whisper Rock Estates

$2,840,000

Seller

Whisper Rock Estates

$2,900,000

Seller

Paradise Valley

$3,280,000

Buyer

Pinnacle Canyon

$3,350,000

Seller

DC Ranch

$3,400,000

Buyer

Desert Mountain

$3,450,000

Buyer

Mirabel

$3,575,000

Buyer

If your home is currently listed, this is not a solicitation for that listing.

SEPTEMBER | OCTOBER 2020

ESTA

Did you know that Luxury Property Group sells real estate throughout Scottsdale?

Check out the table below showing our sales outside of Estancia:

Lifestyle E S TA N C I A

MIKE HOLDER

602.432.3273 c DEBBIE NEGRIN

480.734.3498 c JAY PENNYPACKER

602.570.3962 c WILL FOOTE

480.242.2483 c

LPG-3.com 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.

Call or email us at LPG@RussLyon.com for more information.

Produced by DLP Marketing • (480)460-0996 • DLPmarketing.com

Mid-Summer Real Estate Snapshot

Exclusively Presented By Luxury Property Group

Estancia Mid-Summer Real Estate Snapshot

W

e are pleased to provide our annual "Mid-Summer Real Estate Update" and with the overall health concerns related to COVID-19, 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. Debbie Negrin, Jay Pennypacker and Will Foote (Luxury Property Group) have sold over $115 million in real estate during the last year. We were involved in 27 transactions in Estancia and an additional 54 transactions outside the gates.

Our production places us as the #2 overall producing team in the state of Arizona.

Our team continues to outperform all other real estate groups with the highest volume of sales and number of transactions in Estancia. We were involved in over 80% of the $45 million in sales in Estancia during the last 12 months and homes consistently sell at a higher price per square foot with our team.

Over the past two decades our team members have been involved in over 300 transactions behind the gates of Estancia after completing an additional 27 transactions during the last 12 months!

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 The Estancia Club. We have a deep understanding of the Estancia lifestyle which enables us to deliver the best marketing platform and sales results in the community and beyond.

Estancia Market – HOMES

Overall there have been a total of 14 homes sold in the community

14

Homes

LUXURY | DEFINED

$1,195,000 - $7,500,000

election result. In addition, we will track the mortgage forbearance program where 7.8% of all active mortgages are currently in forbearance and how this may affect the real estate market going forward. Lastly, we will continue to track the migration of home buyers from high density/high tax states moving to Arizona. We

during the last 12 months compared to 25 during the previous year when we include both CUSTOM homes and LaScalas. During the last 12 months there have been a total of 11 CUSTOM home sales compared to 20 the previous year; a 45% decrease from last year’s total which established the record for community sales in one year. The average sale price for CUSTOM homes in Estancia during the last 12 months is $3,582,636, which is up 28% from the previous year. Although fewer homes have sold this year compared to last, this is a significant increase in average sales price and is driven by the quality of homes sold and the limited inventory of homes available compared to previous years. Usually there are approximately 30 homes on the market in the community, but this year we averaged around 24 homes on the market at any given time. Finally, there were 3 LaScala sales over the last 12 months, compared to 5 sales during the previous 12 months.

Similar to last year newer homes and the brand new spec homes are selling at a premium compared to older homes that need updating. However, the most important factor in determining real estate value begins with the land...homes on the best sites sell faster and at a premium.

During the last 12 months there have been 8 lot sales, which is consistent with the previous year when 8 lots closed. However, the average sale price has increased by 16% finishing at $965,000 this year versus $830,714 last year. This is a new record for average sale price and combined with the limited lot inventory remaining in the community we expect that lot sale prices will continue to increase as the community nears complete build-out. In addition, the limited lot inventory should have a positive effect on home sales and pricing going forward. We are already beginning to see buyers that cannot find a suitable lot to build a custom home, buy an existing home and invest in a complete remodel. This continues the ‘renaissance’ of sorts for the homes constructed in the late 1990’s and the older homes on the best homesites are selling more quickly to buyers willing to take on a remodel project.

Lots

# SOLD

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 an 15% increase in sales volume, while the average sales price has dropped by 4% during the last 12 months. Overall, 337 homes have sold in the last 12 months compared to 294 sales during the previous 12 months. Average sales price is $1,745,776 this year compared to $1,829,055 last year. Furthermore, the average sale price per square foot has remained flat averaging $355 this year compared to $360 last year. As it relates to the ultra luxury market that includes sales over $3,000,000, there were 29 sales this year compared to 27 during the previous 12 months. Buyers continue to pay a premium for new homes that are consistently smaller than older resale homes and buying more expensive homes overall, which has maintained the average sale price and the price per square foot established over the last few years.

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 pricing and sales volume has exceeded the previous year with 83 lots selling in the last 12 months compared to 69 sales during the previous 12 months; a 20% increase. Average sales price has increased as well averaging $566,165 this year versus $551,407 last year. As it relates to days on market for luxury lots selling over $300,000, the average this year is 416 days versus 522 days to sell last year.

Estancia Market – LOTS

Overall Luxury Market in North Scottsdale

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.

Normally we provide a “Save the Date” announcement for our annual party that opens the season in early November…. for now we will wait and see what the future holds for large gatherings and hope that we can get together soon to thank you for all of your support.

AVERAGE PRICE

8 $965,000

Warm regards,

This year could not be represented properly without touching on the impacts of COVID-19. As 2019 concluded we expected 2020 to be a record year for sales in Estancia and North Scottsdale based on the number of people that we have been in contact with that have identified Arizona as their new primary residence.

The majority of these buyers are coming from high density/high tax states such as California, Washington, Illinois and New York.

When the virus hit our expectations were dimmed, but to our surprise sales truly slowed down for only three weeks and then all of a sudden we were hit with the busiest three months we have experienced in our real estate careers. The impact of the virus elevated a new sense of urgency among transplants wanting to leave high density locations and accelerated their timeframe to make moving to Arizona a more immediate priority. We basically squeezed 9 months of sales into a 3 month timeframe that carried into the summer months.

Debbie, Jay and Will Luxury Property Group Enjoy the resort-style patio of our featured cover property at Estancia Lot 200 in Scottsdale.

recently learned that 10,000 new apartments were listed for sale in New York City which is an 85% increase from the previous year and could represent a rapid influx of buyers to areas such as Scottsdale.

Looking forward we remain optimistic about real estate sales, but we do have caution based on previous election years that we could experience a slow down leading up to and just after the Presidential

ESTANCIA

Estancia Mid-Summer Real Estate Snapshot

W

e are pleased to provide our annual "Mid-Summer Real Estate Update" and with the overall health concerns related to COVID-19, 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. Debbie Negrin, Jay Pennypacker and Will Foote (Luxury Property Group) have sold over $115 million in real estate during the last year. We were involved in 27 transactions in Estancia and an additional 54 transactions outside the gates.

Our production places us as the #2 overall producing team in the state of Arizona.

Our team continues to outperform all other real estate groups with the highest volume of sales and number of transactions in Estancia. We were involved in over 80% of the $45 million in sales in Estancia during the last 12 months and homes consistently sell at a higher price per square foot with our team.

Over the past two decades our team members have been involved in over 300 transactions behind the gates of Estancia after completing an additional 27 transactions during the last 12 months!

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 The Estancia Club. We have a deep understanding of the Estancia lifestyle which enables us to deliver the best marketing platform and sales results in the community and beyond.

Estancia Market – HOMES

Overall there have been a total of 14 homes sold in the community

14

Homes

LUXURY | DEFINED

$1,195,000 - $7,500,000

election result. In addition, we will track the mortgage forbearance program where 7.8% of all active mortgages are currently in forbearance and how this may affect the real estate market going forward. Lastly, we will continue to track the migration of home buyers from high density/high tax states moving to Arizona. We

during the last 12 months compared to 25 during the previous year when we include both CUSTOM homes and LaScalas. During the last 12 months there have been a total of 11 CUSTOM home sales compared to 20 the previous year; a 45% decrease from last year’s total which established the record for community sales in one year. The average sale price for CUSTOM homes in Estancia during the last 12 months is $3,582,636, which is up 28% from the previous year. Although fewer homes have sold this year compared to last, this is a significant increase in average sales price and is driven by the quality of homes sold and the limited inventory of homes available compared to previous years. Usually there are approximately 30 homes on the market in the community, but this year we averaged around 24 homes on the market at any given time. Finally, there were 3 LaScala sales over the last 12 months, compared to 5 sales during the previous 12 months.

Similar to last year newer homes and the brand new spec homes are selling at a premium compared to older homes that need updating. However, the most important factor in determining real estate value begins with the land...homes on the best sites sell faster and at a premium.

During the last 12 months there have been 8 lot sales, which is consistent with the previous year when 8 lots closed. However, the average sale price has increased by 16% finishing at $965,000 this year versus $830,714 last year. This is a new record for average sale price and combined with the limited lot inventory remaining in the community we expect that lot sale prices will continue to increase as the community nears complete build-out. In addition, the limited lot inventory should have a positive effect on home sales and pricing going forward. We are already beginning to see buyers that cannot find a suitable lot to build a custom home, buy an existing home and invest in a complete remodel. This continues the ‘renaissance’ of sorts for the homes constructed in the late 1990’s and the older homes on the best homesites are selling more quickly to buyers willing to take on a remodel project.

Lots

# SOLD

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 an 15% increase in sales volume, while the average sales price has dropped by 4% during the last 12 months. Overall, 337 homes have sold in the last 12 months compared to 294 sales during the previous 12 months. Average sales price is $1,745,776 this year compared to $1,829,055 last year. Furthermore, the average sale price per square foot has remained flat averaging $355 this year compared to $360 last year. As it relates to the ultra luxury market that includes sales over $3,000,000, there were 29 sales this year compared to 27 during the previous 12 months. Buyers continue to pay a premium for new homes that are consistently smaller than older resale homes and buying more expensive homes overall, which has maintained the average sale price and the price per square foot established over the last few years.

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 pricing and sales volume has exceeded the previous year with 83 lots selling in the last 12 months compared to 69 sales during the previous 12 months; a 20% increase. Average sales price has increased as well averaging $566,165 this year versus $551,407 last year. As it relates to days on market for luxury lots selling over $300,000, the average this year is 416 days versus 522 days to sell last year.

Estancia Market – LOTS

Overall Luxury Market in North Scottsdale

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.

Normally we provide a “Save the Date” announcement for our annual party that opens the season in early November…. for now we will wait and see what the future holds for large gatherings and hope that we can get together soon to thank you for all of your support.

AVERAGE PRICE

8 $965,000

Warm regards,

This year could not be represented properly without touching on the impacts of COVID-19. As 2019 concluded we expected 2020 to be a record year for sales in Estancia and North Scottsdale based on the number of people that we have been in contact with that have identified Arizona as their new primary residence.

The majority of these buyers are coming from high density/high tax states such as California, Washington, Illinois and New York.

When the virus hit our expectations were dimmed, but to our surprise sales truly slowed down for only three weeks and then all of a sudden we were hit with the busiest three months we have experienced in our real estate careers. The impact of the virus elevated a new sense of urgency among transplants wanting to leave high density locations and accelerated their timeframe to make moving to Arizona a more immediate priority. We basically squeezed 9 months of sales into a 3 month timeframe that carried into the summer months.

Debbie, Jay and Will Luxury Property Group Enjoy the resort-style patio of our featured cover property at Estancia Lot 200 in Scottsdale.

recently learned that 10,000 new apartments were listed for sale in New York City which is an 85% increase from the previous year and could represent a rapid influx of buyers to areas such as Scottsdale.

Looking forward we remain optimistic about real estate sales, but we do have caution based on previous election years that we could experience a slow down leading up to and just after the Presidential

ESTANCIA

NEIGHBORHOOD

SALE PRICE

LPG REPRESENTATION

Optima Kierland

$500,000

Seller

Desert Ridge

$520,000

Seller

Scottsdale

$610,000

Seller

Grayhawk

$625,000

Buyer

Troon North

$659,300

Buyer

DC Ranch

$688,000

Seller

DC Ranch

$735,000

Seller

Scottsdale

$799,000

Seller

Desert Mountain

$800,000

Seller

DC Ranch

$880,000

Buyer

Grayhawk

$935,000

Buyer

Scottsdale

$1,130,000

Buyer

DC Ranch

$1,295,000

Seller

Troon North

$1,300,000

Seller

Scottsdale

$1,312,500

Seller

Windy Walk Estates

$1,325,000

Seller

DC Ranch

$1,350,000

Seller

Optima Kierland

$1,390,000

Seller

Silverleaf

$1,490,000

Buyer

Optima Kierland

$1,583,000

Seller

Silverleaf

$1,600,000

Buyer

Whisper Rock Estates

$1,744,100

Buyer/Seller

Sincuidados

$1,795,000

Buyer

Whisper Rock Estates

$1,865,600

Buyer/Seller

Whisper Rock Estates

$1,882,700

Buyer/Seller

Whisper Rock Estates

$1,917,000

Seller

Optima Kierland

$1,950,000

Seller

Whisper Rock Estates

$1,950,000

Seller

Whisper Rock Estates

$1,967,700

Buyer/Seller

Privada - Four Seasons

$1,975,000

Buyer/Seller

Whisper Rock Estates

$2,300,000

Seller

Lost Canyon

$2,500,000

Seller

Desert Mountain

$2,550,000

Buyer/Seller

Whisper Rock Estates

$2,589,000

Seller

Silverleaf

$2,750,000

Seller

Whisper Rock Estates

$2,800,000

Seller

Whisper Rock Estates

$2,840,000

Seller

Whisper Rock Estates

$2,900,000

Seller

Paradise Valley

$3,280,000

Buyer

Pinnacle Canyon

$3,350,000

Seller

DC Ranch

$3,400,000

Buyer

Desert Mountain

$3,450,000

Buyer

Mirabel

$3,575,000

Buyer

If your home is currently listed, this is not a solicitation for that listing.

SEPTEMBER | OCTOBER 2020

ESTA

Did you know that Luxury Property Group sells real estate throughout Scottsdale?

Check out the table below showing our sales outside of Estancia:

Lifestyle E S TA N C I A

MIKE HOLDER

602.432.3273 c DEBBIE NEGRIN

480.734.3498 c JAY PENNYPACKER

602.570.3962 c WILL FOOTE

480.242.2483 c

LPG-3.com 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.

Call or email us at LPG@RussLyon.com for more information.

Produced by DLP Marketing • (480)460-0996 • DLPmarketing.com

Mid-Summer Real Estate Snapshot

Exclusively Presented By Luxury Property Group