While we aren't hitting the gnarly summer temperatures, it is still hot. This time of year usually feels worse to me than the summer because it has been going on for long. And while I thoroughly enjoy red wine, it's still sometimes just a little too heavy in the summer. A little something cooler and lighter can be exactly what is needed.
This Saturday is the Scottsdale Rose Day.
For $20, you can venture between various Scottsdale Old Town bars. 3 glasses of Rose and a commemorative glass are included. There will be drink specials if you want more (but call Uber or Lyft if you need to!).
Get your tickets at Eventbrite.
If I'm starting to sound like a broken record, well, I can't really help it. We're still seeing continued growth and increases in sales throughout McCormick Ranch.
You have likely seen many reports that real estate sales prices are beginning to slow down throughout much of the country. Some are blaming higher interest rates, some blaming higher prices, lack of inventory, seasonality, and a whole host of other reasons. It doesn't appear to be happening here at all.
Year to date, 393 homes have sold in McCormick Ranch compared to 410 last year. That's a small 4% drop but it isn't very substantial as prices have continued to rise. And, if we want to attribute it to anything it is that there is still very little inventory. We've had approximately 15% less homes on the market each month compared to last year. As a result, many home shoppers are sidelined and waiting for the "right" one.
I've always been a self professed numbers geek. With that, let's dive in a bit. My feeling is that Price per Square Foot is a reasonably good indicator of market pricing. It is absolutely worthless when figuring out the right price for a home but works to show overall pricing.
Single Family
August 2016: $222.97
August 2017: $230.91
August 2018: $246.54
Condos
August 2016: 168.96
August 2017: 179.46
August 2018: 197.43
Single family are up around 5% over the last two years and condos are up around 8%. We're still moving along quite well!
As you can see in the chart, patio homes and townhomes are flat or down slightly. These prices tend to be more volatile as the number of sales of each is lower. They are also more seasonal with higher sales and nicer units typically being sold in the winter. Thus, I wouldn't read into these much.
Inventory remains very low overall. As of now, there are only 72 homes listed in McCormick Ranch between all four categories. With 40 sales last month, that is only 1.8 months of inventory so we are remaining in a strong sellers market.
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We've been a big fan of Odysea since they first opened up two years ago. The aquarium is a treasure for Scottsdale and is a great way to spend the day.
Now that the temperatures are starting to dip, Odysea is bringing back their movie nights.
On September 8th, go to the courtyard and you can see Moana. This is a completely free event and seats are available on a first come/first serve basis. It can be packed so I recommend you arrive early. Events will begin at 5 pm and the movie will start at 6:30.
Other events include:
– Character meet & greet and photo op – Hawaiian dance performance – Learn to draw PUA activity – Lei making station – Giveaway table with prize wheel
For more information, please go to Odysea's site.
