The strength of McCormick Ranch continues!
Throughout July we saw continued gains throughout much of The Ranch. Single family homes hit a new high, patio homes are recovering, and condos are also increasing. Townhomes have still been the soft spot.
Sales were anywhere between a single bedroom condo that sold for $134,000 in Belcara and an exquisite contemporary remodeled in Vista del Lago that closed for $1,040,000.
When looking at single family homes, we are now up around 8% year over year. This is using the 6 month rolling average to help smooth out the data. Condos are up around 4.5% and patio homes are up just 1%.
Strangely, townhomes have continued their decline and are down around 8%. I think a lot of this is due to the higher HOA fees that many buyers want to avoid. Townhomes sales are increasing compared to 2016 so my guess is that this trend will start to reverse very soon.
July 2017 saw 56 sales compared to 43 in July 2016. That is a hefty 30% increase. The number of sales in June 2017 was down substantially from 2016 so this is pretty much a wash.
However, there are now just 1.75 months of inventory at the start of August. We can see the continued drop in days on market throughout all categories. Combining this with still suppressed and low interest rates, I'd expect to still see rising prices throughout the remainder of 2017.
The Phoenix Zoo continues their tradition of fun events with the second Prowl & Play of the year. On Saturday, August 5th go to the zoo between 5:30 and 8:30 for ton of dinosaur sized fun!
Here's a list of the various activities and events:
ENTERTAINMENT
· Interactive Dinosaur Meet & Greets
· Baby Velociraptor Encounter
· Mobile Fossil Dig
· Jurassic Jeep Motor Pool Photo Ops
· Mega-Awesome Animal Discoveries
· Music and Games with DJ Rockin’ Rob
ACTIVITIES
· Dino Egg Prize Dig
· Crafts with Scottsdale Arts and Zoo Crew 4H
· Robot Demos with Plasma Robotics
· Face Painting
· Caricature Artist
· Squirt Gun Art Area
· Games and Prizes at the Dino Arcade
“KEEP IT COOL” FUN
· Water Slides and Foam Pit at Lakeside Lawn
· Yakulla Caverns and Leapin’ Lagoon Water Areas
· Splash Zone Water Target
Breakfast and brunch lovers rejoice! There's a new twist on Arizona Restaurant Week. From July 27 through July 30th, go to various restaurants throughout Phoenix and Scottsdale for a showcase of their premier breakfast dishes.
Two restaurants close to McCormick Ranch are Hash Kitchen and Chompies Deli.
The Hash Kitchen is right by Gainey and is a great upscale option. Their self serve Bloody Mary bar has 40 different items for your selection. We recently dined there and really enjoyed the Carnitas Hash and the Banana Brioche French Toast.
Chompies is at 92nd/Shea as is a Phoenix staple. From bagels to desserts to Lox and sandwiches, you'll be able to find a great meal. Don't forget about the pastries and make sure to take home a cookie or three for a snack later!
All Arizona Breakfast Week meals are $7, $10, $15. For the full list of participating restaurants, visit their website.
