LIFESTYLE E S TA N C I A
October 2022
Mid-Season Real Estate Snapshot Exclusively Presented By Luxury Property Group
Custom Homes
Estancia Mid-Season Real Estate Update
W
e are pleased to provide our annual “Mid-Season Real Estate Update” and we hope that you are all healthy, happy and enjoying the summer. First, we want to share with you the success of your on-site real estate team. Debbie Negrin, Jay Pennypacker and Will Foote (Luxury Property Group) have sold over $205 million in real estate during the last year. We were involved in 18 transactions in Estancia and an additional 58 transactions outside the gates. Our production places us as the #1 overall producing team in the state of Arizona and the #51 in America as recognized by the Wall Street Journal. Check out the table on the back page showing our sales outside of Estancia. Our team continues to outperform all other real estate groups with the highest volume of sales and number of transactions in Estancia. We were involved in 85% of the $70,435,000 in sales in Estancia during the last 12 months with homes and land consistently selling at a higher price per square foot and overall sales price with our team. Over the past two decades our team members have been involved in 360 transactions behind the gates of Estancia. Luxury Property Group is a boutique real estate group offering personalized customer service that exceeds the expectations of our clients, which is consistent with the brand and identity of The Estancia Club. We have a deep understanding of the Estancia lifestyle which enables us to deliver the best marketing platform and sales results in the community and beyond.
Estancia Market – HOMES Overall there have been a total of 16 homes sold in the community during the last 12 months compared to 40 during the previous year when we include both CUSTOM homes and LaScalas. Last year established the annual record for total home sales in the community. Currently there are 3 homes on the market in Estancia and one home pending sale that will close later this year.
LUXURY | DEFINED
15
$2,600,000 TO
$7,460,000
During the last 12 months there have been a total of 15 CUSTOM home sales compared to 30 the previous year; a 50% decrease from last year’s record total. The average sale price for CUSTOM homes in Estancia during the last 12 months is $4,050,666, which is up 8% from the previous year. CUSTOM home sales pricing ranged from $2,600,000 - $7,460,000. Finally, there was one LaScala sale over the last 12 months, compared to 10 sales during the previous 12 months. The sale closed 7 at $2,300,000
Estancia Market – LOTS During the last 12 months there have been 5 lot sales compared to 3 lot sales a year ago. The average sales price has increased by 40% finishing at $1,475,000 this year versus $1,056,667 last year.
LOTS:
# SOLD 5
AVERAGE PRICE $1,475,000
Overall Luxury Market in North Scottsdale When we review the luxury HOME market in North Scottsdale we utilize the 85262 and 85266 zip codes and include homes that closed at $1,000,000 or greater. In this market volume has continued to improve with a 15% increase in sales volume, while the average sales price has increased by 7% during the last 12 months. Overall, 1022 homes have sold in the last 12 months compared to 887 sales during the previous 12 months. Average sales price is $2,095,468 this year compared to $1,958,999 last year. Furthermore, the average sale price per square foot has increased by 20% averaging $493 this year compared to $411 last year. As it relates to the ultra luxury market that includes sales over $3,000,000, there were 143 sales this year compared to 124 during the previous 12 months; a 15% increase.
Listed to the right are the detailed statistics for Estancia sales this year.
The luxury LOT market in North Scottsdale is measured again using the 85262 and 85266 zip codes and includes lots that have closed at $300,000 or greater. Lot sales volume has dropped with 166 lots selling in the last 12 months compared to 225 sales during the previous 12 months; a 26% decrease. However, average sales price has increased significantly averaging $810,258 this year versus $572,003 last year; a 42% increase. As it relates to days on market for luxury lots selling over $300,000, the average this year is 175 days versus 349 days to sell last year. In closing, thank you for your business and your time reading this update. Please feel free contacting any member of our team for assistance in evaluating your real estate needs. You will continue to receive the very best real estate services from our group and we will always go the extra mile for you. Kindest regards,
Debbie Negrin | Jay Pennypacker | Will Foote Luxury Property Group
SAVE THE DATE! Mark your calendars as we look forward to seeing you at our Annual Welcome Back Party on November 8, 2022!
11.08.22
ESTANCIA
Estancia | Lot 195 | $7,995,000 5,500 Square Feet 4 Bedrooms | 6 Bathrooms | Office | 4-Car Garage
Contact us today at LPG@RussLyon.com for more information! JAY PENNYPACKER
602.570.3962 c DEBBIE NEGRIN
480.734.3498 c
WILL FOOTE
480.242.2483 c
Luxury | Defined
Luxury Property Group is a consistent top-producer in the luxury market and possesses an intimate knowledge of North Scottsdale. Whether you are looking to purchase a lot or home or want to sell a property you currently own, our team provides complete sales and marketing services.
MIKE HOLDER
602.432.3273 c If your home is currently listed, this is not a solicitation for that listing.
LPG-3.com | 480.575.6305 | LPG@RussLyon.com Produced by Prime Source & DLP • 480.921.0511 • PrimeSourceAZ.com