The real estate market continues to be hot. Here are the details about the Terravita neighborhood.
Activity in North Scottsdale and Terravita continues to be robust. In November, eight homes sold in the neighborhood. Most of the homes sold at or near their listed price. An additional nine homes went under contract during the month as well. The median price of a home is up to $619,000 this year, which is 5.6 percent above the same period in 2019. So far in 2020, homes are selling quickly, with the average number of days from listing to closed being 36, which is down significantly by nearly 63 percent.
In North Scottsdale (85255,62, & 66), the market is also strong, with 2,672 units selling this year, up nearly 20 percent from the same period last year. Days on the market are also down significantly in North Scottsdale, with it taking on average 23 fewer days to sell a home, which is 17.7% lower than 2019.
It continues to be a strong seller’s market with inventory at a low point.
GENERAL MARKET
In the Phoenix metro market, sales continue at a record pace, with demand outstripping supply by a long shot. As of December 16th, there are 9,593 single-family homes under contract and only 4,765 active listings. These numbers are the reverse of how our market usually looks. Last year on December 1st, there were 7,342 homes under contract and 12,699 active listings to put this in perspective.
IS THIS A GOOD TIME TO SELL MY HOME IN TERRAVITA?
Clients ask us if this is a good time to list a home. With the holidays, the New Year, and COVID, they often feel better off to lay low and stay off the market. The reality is if your home is ready to sell, there has never been a better seller’s market than right now. There is incredible demand coming from many parts of the country looking to live the Arizona lifestyle.
If you are considering selling, allow us to work with you to put together a marketing strategy that will make your home stand out. If you are interested in areas of Scottsdale, other than Terravita, visit our communities page.
If you would like a sense of your home’s value in today’s market, give us a call at 602-603-0708 for a complimentary, no-obligation pricing opinion.
