September 1st, 2021
Rain again the last two nights! We just finished one of the best August weatherwise that I can remember. Lots of much-needed rain and cooler temps.
Terravita Real Estate Is Still Hot Though
Not much new to say except that the Terravita Real Estate Market continues to be amazing. This month the number of contracts accepted and the price per foot figures were again extremely high, but not record-setting. But . . . we did have a new highest Terravita Sales price at $1.6 million! Check out the Terravita stats below.
Scottsdale Is Heating Up
As I think we have well documented here, the overall real estate market is slowing a bit. But all real estate is local. If you check the Cromford Market index chart below you will see that Scottsdale is one of Arizona 4 communities that is actually improving a bit. And we aren’t even in our season yet and we are trending in the right direction!
Scott’s September Scottsdale North Newspaper Article
Speaking of real estate being local . . . that reminds me of this month’s article for the Scottsdale North Newspaper Real Estate section. If you are interested here is the article: Is It Better To Use A Local Agent?
Scottsdale North Park Update!
I followed up again this month with the City of Scottsdale to check the progress on the new Scottsdale North park that will be built behind the Summit Shopping Center. You might recall that they have told us the next step is a public town hall meeting via Zoom to discuss progress and plans as well as solicit input from you. The new head of the Parks and Rec Department has assured us that the Zoom meeting will happen late this month or early in November. I had been concerned the Covid Supply chain issues might derail the entire project but that does not seem to be the case. Nothing is decided yet, but I would say that a Pickle Ball presence looks good but a dog park not so much. We are going to put together a video for you next week with some other possibilities for the park.
Connecting Scottsdale North Is Back!
While Covid has not left us, we thought it was time to bring back our spotlight series to help you get to know local businesses. We begin with one with which you should all be familiar: Liberty Station. Paul Keeler from Keeler Hospitality Group was kind enough to give a quick tour of the restaurant. If you haven’t met Paul or his sons who also work there, you need to. Good people, great place. Check out the video below 👇
Lastly, I don’t know what this video is but one of my dearest friends and readers just sent it to me and I loved it. If you like country music at all I think you might too.
Especially the very end. 😀
Here are the June 2021 Terravita Real Estate Market Statistics*:
August 1st, 2021
RECORD SETTING MONTH!!
In the spirit of the Olympics, Terravita Real Estate had a ton of world Records!!
Highest price per foot Ever: $507
Highest Sales Price Ever $1,500,000
Highest Average Price Per Foot ever: $418
Highest lowest price per foot ever: $350
8 homes closing escrow in July is probably a record and two of those homes sold and closed in the same month!
What a community! What a month!
These are truly unprecedented, incredible times. But it is going to slow down a bit. For more on that topic here is my article for the August 1st edition of the Scottsdale North Newspaper:
For more local analysis, the Terravita 2021 Mid Year Market Update will be hitting mailboxes this week. To read your copy early or if you don’t have a Terravita home click on the picture:
Here are the July 2021 Terravita Real Estate Market Statistics*:
July 1st, 2021
And one more for those of you sports fans. Really well summed up: Bickley: Suns’ trip to NBA Finals is a triumph we will never forget
Here are the June 2021 Terravita Real Estate Market Statistics*:
June 1st, 2021
(For The Crown Fans Like Me)
We have a lot to get to this month so let’s get started!
While the balance in the market is shifting a bit in the buyer’s favor in the greater Phoenix area, it is still decidedly a seller’s market. Below is the current Cromford Market Index, which illustrates the Sellers’ edge in the market weakening. (If you can call a score of 448 weak!)
Although the market is shifting, the Census Bureau chart below illustrates a more powerful way to see why so many economic experts predict that home prices will continue to rise for many years to come. Supply has fallen so far out of balance with our ever-rising demand via population growth that it will take years & years before prices will stabilize. This same data is causing large Investment Trusts (REITs) and Hedge Funds to continue to invest large sums of money into residential real estate across the United States, despite prices rising at a rate of 1% per month nationally and over 30% locally!
Local New Home Builders Are Working To Fill The Gap
Here in Maricopa County year-to-date (at the end of April), we have seen 40% more single-family permits than in 2020. The total of 12,815 across Maricopa and Pinal counties is the sixth-highest we have seen, but lower than 1999, 2003, 2004, 2005, and 2006.
We are finally back to a “normal level” of single-family permits after 13 consecutive years of low growth.
The chart above speaks to the national housing shortage, but our market is being affected even more by the effects of The Great Shuffle. The Shuffle is the trend of people working remotely now deciding to live in better areas for their lifestyle. Many people think ours is a better lifestyle, and I thought this CBS Good Morning story explained it well: Why the real estate market continues to explode.
To read more on the Cromford Index and the market shift, here is my June 1st Article in the Scottsdale North Newspaper: How Can You Be Successful In a Changing Real Estate Market?
Finally, below are the May monthly sales figures. Remodeled homes that are done well are now consistently selling for over $400 per square foot. Absolutely amazing.
Here are the May 2021 Terravita Real Estate Market Statistics*:
May 2, 2021
Here are the April 2021 Terravita Real Estate Market Statistics*:
April 2, 2021
WOW. How about these Terravita Closings for March:
- 19 Homes closed escrow
- 3 Homes at or over $1 million
- 3 Homes over $400 per square foot (including one at $458 per foot!!!!!!!!!!!!!)
- 0 Homes under $300 per square foot
And there were 18 new contracts accepted!
We Have Other Stuff To Get To
Scottsdale North Park Update
For those of you interested in the progress of the park being built behind the Summit Shopping Center I followed up with Reed Pryor of Scottsdale Parks and Recs. Things are on track but some of you may be disappointed with some of their plans. Click below to read my Scottsdale North Newspaper article.
Reviving Loving Tree Update
If you would like to meet my design partner on the show, Jeffrey Florentine, he is the subject of the front page of the Scottsdale North Newspaper this month. In case you aren’t in town and don’t get the paper below is a link to the article:
The Coming 2021 Real Estate Market Crash
Here are the March 2021 Terravita Real Estate Market Statistics*:
March 2, 2021
Goodbye February is right! Our weather was a bit cool and wet this month but it was nothing compared to some real craziness many other parts of the country experienced. How crazy? The photo below was taken at a home in Dallas at the final walk-through on the day the home was supposed to close escrow.
Here are the February 2021 Terravita Real Estate Market Statistics*:
February 2, 2021
January Was A Very Strong Sales Month For Terravita
SOME FINAL FUN STUFF
Here is a link to an article I thought you all might enjoy about how many people have moved since the Pandemic: 8.9 Million People Relocated Since The Beginning of the Pandemic
For those of you who do not get the Scottsdale North Newspaper delivered to you, here is a link to this months article about our new home makeover show: New Scottsdale North Home Makeover Show
And finally, for anyone who enjoys golf . . .
Here are the January 2021 Terravita Real Estate Market Statistics*:
January 2, 2021
Happy New Year!
I that doesn’t persuade you this graph should impress my regular readers.
Here are the December 2020 Terravita Real Estate Market Statistics*:
December 2, 2020
Ashley’s Truck With The First Load Of Pies!
It was great seeing so many of you on our 5th Annual Thank You Pie Day. Almost 100 of you showed up! We hope you enjoyed your Thanksgiving and your pie in spite of the craziness we now call the New Normal.
Yep. Another Epic Terravita Sales Month
Terravita had another amazing month of sales in November. Eleven contracts accepted in November is a good month, but when you have 8 closings and the LOWEST price per foot is $298 that is saying something!
Scottsdale North prices are moving up Fast!
It is not just Terravita though. Above is a chart with the annual median sales price in 85266 over the last 3 years. I wrote last year about the $75,000 jump the median price took from 2018 to 2019. This year we surged $142,000 in the middle of a worldwide pandemic. Are you kidding me!?
Does that seem odd to you? I imagine it does because that is the topic that is by far my most common conversation. So common that I chose that as the topic for my article in this month’s Scottsdale North Newspaper. If you haven’t gotten your paper yet and are curious I think you will find it enlightening. Please click below to read the newspaper article in the blog.
Here are the November 2020 Terravita Real Estate Market Statistics*:
November 2, 2020
Here are the October 2020 Terravita Real Estate Market Statistics*:
October 2, 2020
This October Finds Us In An Unprecedented Seller’s Market
(See Scottsdale North Market Minute and Scottsdale North Article Below)
Click Below to watch this months Scottsdale North Market Minute
Click below to read Scott’s Scottsdale North Newspaper Article
A Little Humor
Lastly, to again end with a little humor, below is a screenshot that our twin’s teacher sent us through Facebook. They are still in “virtual school” from home and I guess they decided to have some fun with it! 😁
Here are the September 2020 Terravita Real Estate Market Statistics*:
September 1, 2020
Lastly, we can all use a little more humor in our lives these days. I thought you might enjoy this really clever commercial that one of my favorite readers sent me. Enjoy!!😁
Here are the August 2020 Terravita Real Estate Market Statistics*:
August 1, 2020
- Utah -3.2%
- Louisiana – 2.3%
- South Carolina -2.3%
- New York -1.8%
- California -1.7%
- Texas -1.5%
- Nevada -1.4%
- Florida -1.0%
- Arizona -0.4%
- Georgia -0.2%
Here are the July 2020 Terravita Real Estate Market Statistics*:
July 1, 2020
Happy Canada Day to our great friends to the north!
The Terravita Real Estate market had another terrific month. I know this must be getting old to hear me say that Terravita had lots of closings and sales, prices are high, and there is very little inventory – but that is the story!
National Appreciation Figures Top 10 Cities as of June 30, 2020
MIGHT NOW BE THE BEST TIME EVER TO SELL YOUR HOME?
Want to read more about what could be ahead?
Check out the three articles below:
Here are the June 2020 Terravita Real Estate Market Statistics*:
June 1, 2020
Happy 22nd Monday Of 2020!!!
Having 15 contracts accepted any month is a good sales month. But when you factor in that the month was May (not usually a top-selling month), that there were very few homes to buy, and all the effects of the pandemic, I would call that a great sales month. The average price per foot dropped slightly but that is to be expected in these extraordinary times. If you would like to see a more in-depth video of the Scottsdale North Market please click below:
June 1st Fun Fact – As of this morning the 85266 zip code has had only 6 -10 cases of Covid-19 making it one of the lowest case counts in the state. (Probably the lowest in a number of states!) This could be just one more reason to convince your friends to move here. And when you do . . . we are always here to help! 🙂
Here are the May 2020 Terravita Real Estate Market Statistics*:
May 1, 2020
The U.S. Housing Market Just Got Some Fiercely Bullish News
Here are the March 2020 Terravita Real Estate Market Statistics*:
April 1, 2020
I have had plenty of time to read and discuss. If you have any questions or concerns about anything, please let me know.
We have a list of other restaurants that are still open for carryout at ConnectingScottsdaleNorth.com. In case you missed our original video describing JJ’s Deli check it out here: JJ’s Deli In Scottsdale North.
Here are the March 2020 Terravita Real Estate Market Statistics*:
March 1, 2020
February 1, 2020
January 1, 2020
Look, I know that it has been unseasonably cool lately but if anyone in Scottsdale complains to you please show them this picture of one of my For Sale signs at this time last year:
- Inventory still very low
- Prices continue to rise
- Number of contracts accepted still unusually low
- In December, the National Association of Home Builders confidence index hit its highest level since 1999. Builders are clearly more optimistic, as mortgage rates dropped while wages are now growing near the fastest pace in a decade.
- More evidence of builder confidence was seen in Housing Starts, 13.6% ahead of a year ago. The three-month average of single-family starts reached a post-recession high, along with total and single-family permits.
- Tom Ruff from The Information Market said: This is the 5th time in 18 years of data reporting that December has claimed the highest median sales price for the year. STAT is projecting a median sales price of $287,900 which will surpass the June high of $285,000. Why is this important? In the past, strong pricing gains in December create strong price momentum as we move into our “home buying season” which takes off in March.”