Are you ready for the holidays?? Thanksgiving is right around the corner!
Our market has been quietly cooling over the last couple of months, which is fairly typical of this time of the year as most people start getting ready to entertain, travel & see family. The higher end market in the Phoenix/Scottsdale Metro area reflects this too. However, this is also the time of year that well-heeled snowbirds come to town to enjoy the warmth, golf and the much-appreciated lack of snow. These folks fuel a lot of the higher end sales that occur yearly when they're in town, typically between October-April.
If you have a million dollar home to sell, there are a few places where your odds are actually quite good to get a sale.
November 17 - "Taking a fresh look at the market over $1 million we see 6 ZIP codes with their days of inventory under 12 months. These are the best luxury areas for sellers. They are shaded pink below. Those in white are moderate while those in blue are the most difficult areas for sellers."
I have to point out that all fall inside what I call "The Core" of the Metro Area. They include the ever popular areas of Arcadia, Old Town Scottsdale, the "heart of Scottsdale", the "magic" 85254 zip code, Sweetwater Corridor & Arrowhead Ranch. Most of these locations are central, have easy access to freeways & businesses, airports & good schools. Just outside of 365 days are 85258- McCormick Ranch & Scottsdale Ranch, 85259 (Ancala). Further behind are 85253 (Paradise Valley), 85016 (the Biltmore/Camelback Corridor Area), 85255 (DC Ranch, Grayhawk, McDowell Mountain Ranch & Pinnacle Peak), Ahwatukee & Queen Creek. 85253, 85255, & 85262 (North Scottsdale- Troon North, Desert Highlands, Estancia) have the lions share of $1M+ homes on this list.
Take a look at the map below of all actively listed homes inside "The Core", priced at $1M or higher:
Glendale is comprised of many zip codes, but only 2 have active listings over $1M- 85308 (3 listings) & 85310 (1 listing). Several of the zip codes in white (under 600 days of inventory) also fall into the core, which is still a lot, any way you look at it.
So, Buyers who plan to buy a $1M+ home in the next few months, want to consider a few places shaded in blue. If you're looking in the areas shaded in pink, do your homework, being informed always goes a long way.
For Sellers who plan to sell, if your home is in a blue shaded area, you might want to think about what you might do to stand out from the crowd. There's a lot of competition.
Whatever you do, please call me so you know you're armed with the right info either way!
October 2015 Phoenix Metro Real Estate Snapshot
September 2015 Phoenix/Scottsdale Real Estate Recap