July Market Update
- Terravita Market Update
- Greater Phoenix Market
- Scottsdale North Newspaper Article
- Just For Fun
- News You Can Use
1. Terravita Market Update
Despite having the 11th consecutive interest rate increase leading us to the highest rates in over two decades, AND having the hottest month in RECORDED HUMAN HISTORY!* Terravita had a pretty darn good month. Traffic is way down, but 5 homes still went under contract. Two of them will be interesting to watch….
Both of the interesting properties sold with 0 days on market. That means that they were never really available for the open market to vote on the value of the homes. (We couldn’t get our clients into either home.) While the final sale prices remain to be seen, these exceptional properties should continue the trend of achieving over $600 per square foot, given their fantastic updates and locations.
*The average maximum temperature in July was 114.7 degrees!
Go Deeper into Terravita Data
- TV Market Stats
- July Closed Sales Data By Floorplan
- Active Terravita Listings
- Terravita Floorplans
- Read Past Market Updates
2. Greater Phoenix Market
Even with the market’s slower pace, demand continues to outpace supply, thereby supporting stable property values. In fact, all of the 17 cities that comprise the Greater Phoenix area have transitioned into sellers’ markets over the past few months.
That upward trend has now slowed, but on the Cromford Market Index chart below, you can see every city is now over 100, which means that they are favoring sellers.
Scottsdale is at 186 and still climbing. That is amazing considering our buyers are some of the wealthiest and don’t need to brave the hottest summer heat ever!!!!!
3. Scottsdale North Newspaper Article
This is an update to the story I told you guys last month about a client’s experience with an investor buyer who sent her a letter. But you have to at least check out the picture Kate created through Artificial Intelligence to match the story! 
Click Here
4. Just For Fun
Check out this Barbie house in our market: Barbie Dream House
For a good laugh…
5. News You Can Use
Thought for the Day
“One man can make a difference and every man should try.”
– Jacqueline Kennedy Onassis
Click here for past market updates
Thank you all for reading and supporting our updates. We know there are a lot of things out there pulling for your attention these days. Please let us know anything we can do better.
Disclaimer disclaimer! Please don’t skip over this one, folks. It’s not your typical boring legal jargon. Just a friendly reminder that our lawyers made us include this so they don’t lose their minds. Read on if you dare!
*Please note that this report is created as of the first of the month and is prone to changes.
**The term “Contracts Accepted” means that there was a new contract accepted on this home this month. This is to say that this listing has moved from an “Active” status in the MLS to a “Sold” status and begun the escrow process, and is heading toward “closing”.
*All information is provided by the Arizona Regional MLS and is deemed reliable but not guaranteed.
TerravitaRealEstate.com is not in any way affiliated with, or endorsed by, Terravita Community Association, Inc. nor is this in any way an advertisement for services provided by the Terravita Community Association, Inc.
