Terravita N EIG HBO RH O O D H O U S I NG M ARK E T R E P O RT
R E A L E S TAT E R E I M AG I N E D
What is the housing market like in your neighborhood this summer? In Terravita, 56 homes sold this year through July 31, 2020. This is one more home than sold during the same time period from last year. Considering the challenges we have faced since the beginning of this year, this is impressive. Price per square foot in Terravita has also increased by 13% over the same time period last year, and the median price of a home has risen just slightly. In North Scottsdale, the median price for a home is up nearly 11% over the same seven month timeframe in 2019. In the 85266 zip code, the market is also relatively strong with median prices up by 10 percent to $825,000. The price per square foot in the zip code is up by 6.1%. The number of days a home is listed before it is sold has dropped significantly across the market, down nearly 20% for all of Scottsdale. LOOK INSIDE TO SEE THE LATEST MARKET DATA FOR SCOTTSDALE HOMES ď ˝
Homes sold in Terravita July 1 - August 1, 2020 ADDRESS
LIST PRICE
SOLD PRICE
% OF LIST PRICE
PRICE PER SQ. FT.
32712 N. 70th St.
$430,000
$403,000
93.7%
$286
6832 E. Nightingale Star Cir.
$475,000
$475,000
100.0%
$284
7143 E. Canyon Wren Cir.
$429,000
$370,000
86.2%
$267
33672 N. 71st Way
$565,000
$543,000
96.1%
$261
6781 E. Whispering Mesquite Trail
$639,900
$625,000
97.7%
$352
32908 N. 71st St.
$649,000
$649,000
100.0%
$329
6388 E. Marioca Cir.
$650,000
$602,000
92.6%
$219
6954 E. Hibiscus Way
$649,000
$625,000
96.3%
$308
Considering selling your home? If so, we would appreciate the opportunity to earn your business. Our unique selling strategy combines the latest marketing trends with staging and styling services to ensure your home shows well. Get your instant, automated home valuation estimate at scottsdalehome.forsale/7Terravita
AREA REPORTS KEY N E I G HBO R HO OD STATI ST IC S
SOLD
Terravita
ACTIVE as of 7/31/20
1/1/19 - 7/31/19
1/1/20 - 7/31/20
% CHANGE
High
$969,000
$875,000
$899,500
2.8%
Median
$712,000
$606,250
$611.250
0.8%
Low
$499,000
$338,000
$370,000
9.5%
Avg. $ per Sq. Ft.
$302
$262
$296
13.0%
Avg. % of Orig. List
-
98%
98%
0.0%
Sold
-
55
56
1.8%
Active
4
-
-
-
UCB/Pending
6
-
-
-
85266
ACTIVE as of 7/31/20
1/1/19 - 7/31/19
1/1/20 - 7/31/20
% CHANGE
High
$4,000,000
$3,300,000
$2,900,000
-12.1%
Median
$1,225,000
$750.000
$825,000
10.0%
Low
$499,000
$338,000
$350,000
3.6%
INVENTORY IS AT AN
Avg. $ per Sq. Ft.
$326
$261
$277
6.1%
ALL TIME LOW
Avg. % of Orig. List
-
97%
97%
0.0%
Sold
-
262
240
-8.4%
Active
82
-
-
-
UCB/Pending
63
-
-
-
North Scottsdale
ACTIVE as of 7/31/20
1/1/19 - 7/31/19
1/1/20 - 7/31/20
% CHANGE
High
$32,000,000
$9,300,000
$8,000,000
-14.0%
Median
$1,637,000
$780,000
$865,000
10.9%
Low
$363,000
$120,000
$280,000
133.3%
Avg. $ per Sq. Ft.
$411
$282
$299
6.0%
Avg. % of Orig. List
-
96%
97%
1.0%
Sold
-
1246
1211
-2.8%
Active
550
-
-
-
UCB/Pending
354
-
-
-
Scottsdale
ACTIVE as of 8/6/20
1/1/19 - 7/31/19
1/1/20 - 7/31/20
% CHANGE
High
$32,000,000
$9,300,000
$8,000,000
-14.1%
Median
$1,299,000
$605,000
$670,000
10.7%
Low
$279,000
$161,000
$245,000
51.5%
Avg. $ per Sq. Ft.
$380
$258
$280
8.5%
Avg. % of Orig. List
-
97%
98%
1.0%
Sold
-
3288
3016
-8.3%
Active
862
-
-
-
UCB/Pending
788
-
-
-
GENERAL MARKET
One measure of the housing market is called Days of Inventory. It measures how many days it will take to deplete housing inventory given the number of homes on the market and the rate of sale. Right now in the Phoenix metro market, that number has fallen to a record low of 27 days. When inventory falls this low, it is considered a seller’s market.
Inventory across most price points in the entire Phoenix metro area is at an all-time low, making it a seller’s market. The number of days a home sits on the market is down significantly across the zip code, but even more dramatically in Terravita. The average number of days it takes to sell a Terravita home is down to only 36 days.
We’d love to put together a custom plan to maximize the sales potential of your home. Call us at 602-603-0708 to schedule a complimentary, no-commitment consultation.
SOLD
SOLD
SOLD
Seller Case Study Villa Lusso 7882 E HANOVER WAY SCOTTSDALE, AZ 85255 5,547 SQ. FT. 4 BEDROOM 3 FULL BATH, 1 HALF BATH
SOLD FOR $1,650,000
100% of listing price THE BACK STORY These sellers contacted us based on their knowledge of our unique, customized approach to marketing homes and wanted to meet to learn more about our process and how we could help. Updated over the course of three remodeling projects, we knew we had to clearly tell the story of this beautiful home and its sophisticated style. WHAT WE DID STYLING | This property had many entertainment features, and we knew it would be important to capture the essence of this stunning property and ensure we conveyed the exciting lifestyle it offered. Using our best photographer and videographer, we produced our distinct high-quality media, allowing us to demonstrate all of the unique characteristics of this home.
MARKETING | While we typically do not promote properties with an Open House, this unique property made it the perfect candidate to bring in traffic and create buzz. In addition to potential buyers, several agents previewed the property on behalf of their buyers. This resulted in same-day return visits and multiple new viewings over the next two days. We also promoted the property across all real estate online channels, along with targeted Zillow and Facebook advertising. Through our member-only access, we reached out to top agents in the valley to seek potential buyers within their networks. THE RESULT Only four days after the Open House, and a total of seven days on market, we received a full-price offer and the home closed a few weeks later. Our exclusive Zillow partnership allowed us to provide broad exposure to our listing, which resulted in over 15 showings and two offers.
WATCH THE STU NNI NG VI D EO WE C R EAT ED FOR T H IS H OM E
ScottsdaleHome.ForSale/VillaLusso
R E A L E S TAT E R E I M AG I N E D
Our customized services for homeowners are designed to prepare, market, and sell homes. We work closely with sellers to ensure their home attracts the attention of qualified buyers. For home buyers, we help preview and identify homes that meet their requirements and dramatically reduce the time spent searching for the perfect home.
Call us at 602-603-0708 for your home buying or selling needs. T H E L IFESTY LE COL L ECT I O N TE A M JORDAN AYAN Partner + Licensed Real Estate Consultant
Each office is independently owned and operated. If your home is currently listed with another broker this is not intended to solicit that listing.
5301 N PIMA R D #1 30 SCOT TSDA LE, A Z 85250 T HE LIFE ST YLE CO L L EC TIO N. C O M