JON MIRMELLI REAL ESTATE GROUP
MARKET UPDATE
August 2025
FOUNTAIN HILLS - NEW LISTING!
15510 E Telegraph Dr, Fountain Hills, AZ 85268 $1,399,500 - See back for details
Also for lease! $5,750/mo.
E GROU AT
Jon Mirmelli 602.300.1900
JM
AL ES T RE
PRESENTED BY
JON M MELLI IR
P
Available inventory continues to decline over the prior month and sales activity cools but year-over-year sales activity is relatively unchanged
See updated Cromford Market stats - where generally speaking a # below 90 is considered a buyer's market and above 110 is a seller's market. As of 7/18, there were 18,990 active and coming soon listings in our MLS system within Maricopa County, a 5.5% decrease over the prior month, 5,628 homes were under contract, an 11.4% decrease over the same period and there were 5,055 closed sales, a decrease of 6%. Available inventory is 40% higher than one year ago, while pending and closed sales are relatively unchanged from this time last year.
Mortgage rates unchanged with real estate and mortgage professionals hoping Jerome Powell and the Federal Reserve start reducing interest rates As of 7/17, the average 30 year mortgage rate was 6.75%, basically unchanged from last month. Pressure is building for the Federal Reserve to join the rest of the world to begin interest rate reductions. Polymarket, a popular and accurate betting site, mostly predicts a 50 basis point reduction in the remaining months of 2025. President Trump has openly stated that he intends to replace Jerome Powell when Powell’s term is done in May 2026 and there is a lot of speculation that this change may happen sooner. The rub on waiting for rates to be lower is that a significant reduction in interest rates will make purchases more affordable driving up demand and should tilt the market more in favor of sellers. Buyers we are meeting with today are purchasing on what they can with current interest rates so they can work to secure the purchase they want with higher inventory levels knowing that they can later refinance the debt if and when the interest rate reductions occur.
We hope you find these monthly updates useful for you to track the market. Please call on us if you would like to schedule a meeting to evaluate your real estate holdings and purchase goals. We have seen an uptick in buyer needs and we are thankful to you for your continued business and referrals.
All the best,
Jon Mirmelli & Rebecca Ponte
5/17/25 – 6/17/25
VS. JULY 2025 6/17/25 – 7/17/25
Jon Mirmelli Real Estate Group
AVERAGE SOLD PRICE
CAVE CREEK/CAREFREE`
AVERAGE SALE/ LIST PRICE
AVERAGE $/SQFT
AVERAGE DOM
85331
54
47
$1,140,674
$1,031,341
98%
97%
$390.43
$362.85
78
95
85266 85262 85255 85254 85260 85259 85258 85250 85251 85257
21 40 88 64 56 41 66 37 82 20
29 41 88 75 52 28 61 38 59 21
$1,600,000 $2,102,680 $1,845,655 $1,127,828 $1,034,230 $1,472,079 $1,199,735 $732,921 $1,030,402 $555,094
$1,588,793 $2,142,543 $2,021,720 $1,043,801 $854,249 $1,077,227 $994,310 $623,779 $1,035,635 $534,833
96% 95% 96% 96% 96% 96% 97% 96% 96% 97%
96% 95% 95% 97% 97% 96% 97% 97% 96% 97%
$487.75 $551.37 $560.03 $470.90 $416.69 $447.22 $494.62 $408.80 $448.38 $368.47
$621.52 $521.03 $546.57 $447.47 $398.89 $386.83 $446.50 $403.67 $455.68 $327.94
92 99 96 64 66 79 71 68 76 98
90 165 90 62 77 77 93 89 103 74
85268
52
37
$909,434
$789,290
97%
97%
$379.24
$343.43
88
94
85253
37
29
$4,898,355
$3,844,769
94%
95%
$812.45
$760.47
100
129
85028 85016 85018 85050 85054
26 54 42 42 21
30 35 36 47 21
$838,600 $910,177 $1,603,249 $728,638 $812,889
$990,183 $623,031 $1,440,431 $680,008 $733,626
98% 96% 96% 98% 98%
96% 97% 96% 98% 98%
$386.56 $409.72 $569.14 $337.97 $427.50
$415.27 $351.77 $516.04 $332.97 $366.13
44 74 82 78 94
74 88 91 59 78
SCOTTSDALE
HOMES RECENTLY SOLD
JUNE 2025
# OF CLOSED LISTINGS
JM
PRESENTED BY
AL ES T RE
ZIP
CLOSED
E GROU AT
MARKET WATCH
JON M MELLI IR
P
FOUNTAIN HILLS PARADISE VALLEY
PHOENIX/ARCADIA/BILTMORE
ZIP CODE MAP
47
SCOTTSDALE
41
29
homes closed
homes closed
homes closed
21
47
homes closed
homes closed
88
homes closed
75
homes closed
52
homes closed
28
homes closed
61
30
homes closed
homes closed
29
homes closed
35
homes closed
37
homes closed
38
homes closed
36
homes closed
59
homes closed
21
homes closed
The properties on this list have been listed/sold by various members of the MLS. If your home is currently listed, this is not a solicitation for that listing. Data reported is based upon sales information provided by the MLS as of July 17, 2025. Data deemed to be reliable but not guaranteed. Each office is independently owned and operated.
LISTED
MARKET
WATCH
PRESENTED BY
Jon Mirmelli Real Estate Group
Jon Mirmelli Real Estate Group - Active, Pending, Closed
Need help selling your existing home or looking to buy? Please call Jon today! Referrals always appreciated. ACTIVE
JUST LISTED
Scottsdale 7180 E KIERLAND BLVD 316 SCOTTSDALE, AZ 85254 3 Beds | 2.5 Baths | 1,954 SF $1,850,000 UNDER CONTRACT
Scottsdale 10105 E LARKSPUR DR SCOTTSDALE, AZ 85260 4 Beds | 3 Baths | 3,043 SF $1,299,500 UNDER CONTRACT
Fountain Hills
Paradise Valley 6166 N SCOTTSDALE RD C3006 PARADISE VALLEY, AZ 85253 2 Beds | 2.5 Baths | 2,353 SF $1,674,900
15510 E TELEGRAPH DR
CLOSED
FOUNTAIN HILLS, AZ 85268 6 Beds | 4 Baths | 4,069 SQFT Offered at $1,399,500 Also for lease! $5,750/mo.
Scottsdale 11144 N 109TH WAY SCOTTSDALE, AZ 85259 2 Beds | 2 Baths | 1,024 SF $460,000
Conveniently located custom home with mountain views and the natural desert surrounding with a very spacious layout and exterior living spaces that offers 6 bd / 4 ba, 3 car garage and private pool / spa. See floor plan on 3rd photo for layout. Main level features an island kitchen w/ breakfast bar seating, Alder cabinetry, granite, SS appliances, sunny dining nook, great room with wood-burning fireplace & room for formal dining. Upper level has 3 bedrooms including primary BD. Family room on lower-level w/ 3 more bedrooms - 1 ensuited, a kitchenette, plus 2 bonus spaces. Multiple covered patios accent a resort-style backyard that features a saltwater pebble finish pool & water feature, spa, flagstone patios, kiva fireplace w/ seating. Newer roof, soft water system & spa. No HOA fees!
CLOSED
Gilbert 2072 E BLACKHAWK CT GILBERT, AZ 85298 4 Beds | 4 Baths | 3,897 SF $1,185,000 CLOSED
Paradise Valley
If your home is currently listed, this is not a solicitation for that listing.
E GROU AT
JON M
JM
AL ES T RE
Rebecca Ponte | 602.390.7096
P
MELLI IR
Jon Mirmelli Real Estate Group
6587 N. PALMERAIE BLVD. UNIT 3016 PARADISE VALLEY, AZ 85253 $2,038,702
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