Scottsdale Real Estate Market Trends – July 2016

Here we are with Jeff, “The Star”.

More importantly, I’m here with “The Wiz”, Scottsdale real estate wiz Sharon Wisniewski of the Sibbach Team to talk about the market.

And so we want to know, asking the expert, what Jeff is the market doing today?

Well, what we’re seeing is three major trends. The first major trend that we’re seeing is baby boomers, or what we call now empty nesters. So they’re downsizing. So not only are they wanting to get rid of their larger, often two story or bigger home and wanting to buy a smaller home, but they’re also now when they’re downsizing, their reducing the fiscal part of it, they’re reducing the amount of money they’re spending on home. Therefore, affecting the market.

Frozen means that the house isn’t worth what it was five years ago, what it was six years ago. You want it to be worth that, and even though you might have no debt on the house or you have a small mortgage of a 100,000 or 200,000, so you’re not motivated to sell. But the reality is, do you want to own it for five years if it’s worth the same price?

Under 500,000 the market is on fire. Even in the West Valley or the East Valley and Scottsdale under 500,000 where 92% of the market activities is going on we’re seeing prices rise pretty quickly. But over 500,000, even in Glendale or the East Valley and most importantly if you’re in North Scottsdale, you’re seeing an abundance of supply because the baby boomers represent a larger pool of the luxury homes, than the people upsizing. So therefore, it’s leading to an abundance of supply. So how long do you want to stay in your huge house? So you are going to have to price it right.

That’s the report for the second half of the year!

Tags: ,

Exact matches only
Search in title
Search in content
Search in posts
Search in pages

Ready to talk? Call us today.

  • #1 AZ Real Estate Team

  • Best REALTOR® In The Valley 2017

    - Nominee

    Finalists will be announced in October 2016

  • Top Ranked Real Estate Team

    - Phoenix Business Journal

    2015, 2016

  • Top 10 Buyer’s Agent

    - by Sales Volume

    Homes & Land Magazine 2015, 2016

  • Top 10 Producing Agent

    - by Sales Volume

    Homes & Land Magazine 2011, 2012, 2013, 2014, 2015

  • Top 1% of REALTORS®

    - in Maricopa County by Sales Volume

    Arizona Regional MLS 2005, 2006, 2007, 2008, 2009, 2010, 2011, 2012, 2013, 2014, 2015, 2016

  • Real Estate Agent of the Year

    - Finalist

    AZ Business Magazine – 2014

  • #1 Real Estate Team

    - in Arizona

    Ranking Arizona – 2014

  • #1 Agent by Sales Volume

    - in Arizona

    Realty One Group, North Scottsdale Office -2015, 2016 Realty One Group, Scottsdale Office - 2011, 2012, 2013, 2014 Realty One Group, National - April 2014

  • Gold Zone Award

    - in Arizona

    Realty One Group, National - 2014, 2015, 2016

  • Real Trends

    (National REALTOR® Rankings)

    Best Real Estate Agents in America 2014

See More
  • Date: 07/18/2019

    Source: Gmail

    I'd like to take this opportunity to tell you how happy we are with Terri as our realtor! She did an excellent job helping us find - Read More

  • Date: 07/08/2019

    Source: Zillow

    Sharon was a delight to work with. She was very responsive and was able to get our house on the market in a very short - Read More

  • Date: 07/08/2019

    Source: Zillow

    Elise helped us purchase a house in Glendale. Our daughter is going to start at Midwestern University, and we happen to see a house very - Read More

  • Date: 07/02/2019

    Source: Zillow

    Trish has great knowledge of all surrounding areas. She is always looking out for her client’s interests. Her helpful suggestions have been of great benefit. - Read More

  • Date: 06/27/2019

    Source: Zillow

    Ilene is the best realtor I ever met! At first, she is a very patient realtor. My budget was low but she did not show - Read More

See More