Home increased in October according to Case-Shiller’s 20City Home Price Index. Home prices rose from September’s annualized reading of 5.40 percent to 5.60 percent. Factors contributing to rising home prices include stronger economic conditions and outlook along with short inventories of available homes coupled with high demand. On average, October home prices rose 5.10 percent on seasonally adjusted annual basis, which was unchanged from September’s reading.
West Continues to Lead Home Price Growth
Top home price growth rates were in Seattle, Washington at 10.70 percent, Portland, Oregon at 10.30 percent and Denver, Colorado with a seasonally-adjusted annual price increase of 8.30 percent. New York, New York had the lowest home price growth in October with a reading of 1.70 percent.
In a separate report, December consumer confidence exceeded expectations with an index reading of 113.70 as compared to an expected reading of 110.00 and November’s reading of 109.40. This was the highest reading for consumer confidence since 2001. Analysts said that the strong reading for consumer confidence was a sign that consumers will increase their spending in 2017, but what will happen with mortgage rates is a big question.
Rising Mortgage Rates May Slow Home Prices, High Demand for Homes
With the Federal Reserve’s decision to raise its target federal funds range in December comes a question of how rising mortgage rates will affect housing markets. Rising fed rates typically lead to increases in consumer lending rates including rates for home loans and refinancing. Combined effects of rising home prices and mortgage rates create challenges for first-time and moderate income home buyers. While higher mortgage rates have not impacted buyer demand so far, rising mortgage rates could sideline some buyers.
A recent compilation of the most expensive places to live in America illustrates the imbalance of home prices as compared to consumer incomes. Brooklyn, NY topped this list with a reading of 127.70 percent of average household income earned in Brooklyn to buy an average priced home in Brooklyn. Analysts reporting this data noted that many Brooklyn homeowners work in Manhattan and earn more than those who work in Brooklyn. Disparities in average home prices and home buyer incomes could “trickle down” to less expensive areas if mortgage rates and home prices continue to rise.
Meanwhile, builder confidence is strong and is expected to lead to higher levels of home construction in 2017.
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18850 E Peachtree Boulevard
Queen Creek, AZ 85142
$1,499,900
4
Beds
4.5
Baths
4,371
SqFt
Status
Active
MLS #
6768257
Property Type
Single Family Residence
Price Type
--
This GORGEOUS FORMER MODEL home on an expansive corner lot is OVERFLOWING with over $320K in DESIGNER upgrades!! STUNNING front courtyard w/FIREPLACE! GOURMET kitchen w/gas cooktop, quartz countertops, island w/sink, tiled backsplash, maple cabinets + GE stainless appliance suite w/wall ovens! Open concept great room w/GORGEOUS multi-slide door for indoor/outdoor living! Separate formal dining room, office & media room! PRIVATE owner's suite + ensuite bath w/walk-in shower + soaking tub! SO many living options in this home! CUSTOM window treatments convey! FANTASTIC backyard OASIS w/built-in BBQ, fire pit, pavers, faux grass & pergola backing to open space! This is LUXURY living! Community amenities include a lake, pickle ball and basketball courts, splash pad + MORE! WELCOME HOME!
11460 N 71 Street
Scottsdale, AZ 85254
$1,499,900
4
Beds
2
Baths
1,868
SqFt
Status
Active Under Contract
MLS #
6749763
Property Type
Single Family Residence
Price Type
--
FANTASTIC REMODELED FAMILY HOME ** BEAUTIFUL MODERN RECENTLY COMPLETED NEWLY UPDATED ** 4 BEDROOMS ** 2 BATHROOMS ** HUGE OPEN GREAT ROOM ALL NEW KITCHEN AND DINING ** ALL NEW FLOORING ** ** NEW INTERIOR AND EXTERIOR PAINT ** NEW AC 2021 ** NEW GAS WATER HEATER 2021 ** BOTH MASTER AND GUEST BATHROOMS COMPLETELY REMODELED ALL NEW CABINETS & COUNTERTOPS IN KITCHEN AND BATHROOMS ** NEW QUARTZ COUNTERTOPS ** NEW ROOF 2019 ** NEW BARN ROOF 2023 ** NEW FRONT AND GABLE END CONCRETE BOARD SIDING 2022 ** NEW DUAL PANE WINDOWS 2012 ** NEW EXTERIOR DOORS 2022 ** NEW COVERED RAISED PATIO ROOF ** MUST SEE !!!!!
19974 E El Nido Lane
Litchfield Park, AZ 85340
$1,499,812
4
Beds
3.5
Baths
3,250
SqFt
Status
Active
MLS #
6752380
Property Type
Single Family Residence
Price Type
--
FORMER MODEL HOME W/RV GARAGE; fully furnished; no leaseback; incredible gourmet kitchen with Thermador appliances including sliding in gas range, hood vent, built in refrigerator, two wine refrigerators, stacked cabinets with lighted uppers, 12' sliding glass door and 12' ceilings; outdoor pool w/water feature, outdoor furniture & modern firepit; MOUNTAIN VIEWS; custom tiling, custom wall & ceiling treatments; firesprinklers, ATTACHED CASITA; 4 bed, 3.5 bath, study & 3 car plus RV GARAGE; all furniture and accessories included.
2496 S Geronimo Head Trail
Gold Canyon, AZ 85118
$1,499,000
3
Beds
3.5
Baths
4,163
SqFt
Status
Active
MLS #
6756384
Property Type
Single Family Residence
Price Type
--
MOUNTAIN AND SUNSET VIEWS! Remarkable residence located in the prestigious Superstition Mountain Golf and Country Club situated at the foot of the majestic Superstition Mountains. Overlooking the 6th fairway of the Prospector course, this course was featured in the 2023 LPGA tour! A 24-hour secured guard gate leads you to this hidden gem of a neighborhood featuring world class amenities including two Nicklaus designed golf courses, spectacular clubhouse with fine dining, fully appointed sports club, a resort style pool and more. This home is immaculate with so many custom features and upgrades, you truly must see to appreciate. You'll love the exterior stone accents, private courtyard, outdoor kitchen & guest quarters all on one level. The captivating interior boasts archways, 8' alder wood doors, tile flooring, soaring ceilings, & surround sound throughout this well laid out split floor plan. An oversized two car garage just off the laundry room and connected to the main house includes overflow AC keeping it cool on those hot summer days as well as epoxy floors. A single car garage is located adjacent to the guesthouse. Additional amenities include a natural gas Generac generator and full house water softener. You are welcomed through the large front door into the great room with awe inspiring views of the golf course, a massive custom fireplace, and 14-foot ceiling. The chef's kitchen boasts Alder cabinets, granite, butcher block island, pantry and GE Profile refrigerator, gas stove top, oven and Advantium oven. Also featured is a stand-alone ice maker and wine refrigerator. With a view of the courtyard, the formal dining room hosts a table that will seat 10 people, a hutch and buffet. A stylish powder room with glamorous fixtures welcomes your guests. The huge Master Suite with gorgeous bay windows provides breathtaking mountain and golf course views to wake up to every morning, motorized privacy shades, sitting area, huge walk-in closet with custom shelving and W/D hook up. Remodeled master bathroom with tons of natural light includes double vanities, large walk-in shower, separate soaking tub and privacy room for commode. The adjacent Den/Office has custom built in desk, lighting, cabinets and separate exit to the back patio overlooking the golf course. The 2nd Master Suite has a large walk-in closet and an exit to a private sitting area overlooking the golf course. Privacy rules in this separate entry guest quarters offering a living room, a two-way fireplace, a wet bar w/cooler, a bathroom, & a walk-in closet w/stacked washer & dryer. The outdoor kitchen includes a built-in BBQ, granite counter tops and seating, The large, covered patio offers room for dining and sofa seating to enjoy beautiful sunset views and city lights. Don't just imagine! See it! Some furniture also available via separate bill of sale.
707 E Ocotillo Road
Phoenix, AZ 85014
$1,499,000
5
Beds
3.5
Baths
2,990
SqFt
Status
Active
MLS #
6745849
Property Type
Single Family Residence
Price Type
--
Welcome to this BRAND-NEW modern gem in the highly coveted North Central Phoenix neighborhood, located within the desirable Madison School District. This stunning home features an open floor plan with soaring 16-ft vaulted ceilings and 5 spacious bedrooms, 3.5 bathrooms. The gourmet kitchen features two separate sinks, a large quartz island with a waterfall edge, and huge walk-in pantry. The primary suite includes a modern bathroom with a stand alone tub and large walk in closet. There is an additional primary suite with a beautifully appointed bathroom. Stylish laundry room with two quartz countertops and ample cabinetry. Step outside to a backyard retreat with a pergola, sparkling pebble-tech pool with a Baja step, and a paver patio perfect for gatherings.
10622 E Tamarisk Way
Scottsdale, AZ 85262
$1,499,000
2
Beds
2.5
Baths
2,922
SqFt
Status
Active
MLS #
6751250
Property Type
Single Family Residence
Price Type
--
Welcome to this charming home nestled within the prestigious guarded gates of Desert Mountain, located in the serene village of Cochise Ridge. This residence offers two spacious primary ensuite bedrooms, perfect for comfort and privacy, along with a versatile central den/office. The updated kitchen is a chef's delight, featuring stainless steel appliances and a cozy breakfast nook that overlooks the inviting front courtyard. Step outside to the expansive wrap-around patio, where you'll find a spa, built-in BBQ, and multiple seating areas, all designed to enjoy the breathtaking views of Pinnacle Peak, McDowell Mountains, Continental Mountains, and the twinkling city lights in the distance. This home is a perfect retreat, whether you're seeking a lock-and-leave option or a full-time residence in one of Scottsdale's most sought-after communities.
42106 N Bradon Way
Phoenix, AZ 85086
$1,499,000
6
Beds
5.5
Baths
4,561
SqFt
Status
Active
MLS #
6738654
Property Type
Single Family Residence
Price Type
--
This stunning Rochester model home features a gourmet kitchen with GE Monogram appliances, massive counter space coupled with seemingly endless cabinet, drawer and pantry storage. Definitely a chef's dream! The newly (2023) remodeled backyard is gorgeous and boasts unparalleled privacy. you simply have to see it to believe it. Anyone would be proud to entertain guests inside and outside at this home. The flooring and lighting upgrades are beautiful. Fresh paint, inside and outside mean the lucky buyer will not have to worry about painting for years to come. This home is a resort within the Anthem Country Club resort. Come see it, let us awe you!
9699 E Vantage Point Road
Scottsdale, AZ 85262
$1,499,000
4
Beds
3.5
Baths
4,061
SqFt
Status
Active
MLS #
6764566
Property Type
Single Family Residence
Price Type
--
Nestled in the intimate and picturesque subdivision of Sierra Norte in North Scottsdale, this exquisite single-level home offers a prime corner lot with ideal north-south solar orientation ensuring the sun graces the sparkling pool throughout the day. Built by Edmonds Toll, The Mediterranean-inspired architecture showcases stacked stone, graceful arches, and elegant pillars leading to a peaked roofline entrance. Step through the inviting courtyard entry, with flagstone patio and lush mature desert landscaping, to the double-door entry. Inside, you'll be greeted by a one level floor plan beginning with the engaging living room complete with a grand travertine fireplace and expansive picture windows framing captivating backyard views. The chef's kitchen is a culinary delight, equipped with Kitchen Aid appliances, a generous island, and ample counter space, including a raised linear bar and exceptional walk-in pantry. The open-concept design flows seamlessly into the casual dining area with patio access, and cozy den, where you'll find a TV area and lovely views of the outdoors, including the iconic Pinnacle Peak. The perfect setting for relaxation and intimate gatherings. The split primary suite spans the west side of the home, providing a peaceful retreat. Enter through double doors to find a spacious bedroom with a pony wall separating a cozy sitting area with direct patio access. The spa-inspired primary bath features dual walk-in closets, dual vanities with a dedicated make-up space, a soaking tub, walk-in shower with tiled bench, and a private water closet. On the east side of the home, you'll find a guest ensuite, two additional guest rooms, and a well-appointed hall bath. Each guest room offers plush carpet, ceiling fans, and operable windows, providing comfort and style for family and visitors alike. Step outside into a resort-style backyard designed for ultimate relaxation and entertainment. Enjoy al fresco dining under the covered patio or soak up the sun in the pool with its Baja entry. The raised spa and boulder feature cascades into the pool, and the elevated firepit offers the perfect spot for stargazing. The outdoor kitchen, equipped with a built-in grill and generous bar space, is ideal for hosting, while the outdoor fireplace with side bench seating provides warmth on cooler nights. Additional highlights include a separate office, a convenient laundry room, and a generous 3-car garage, providing ample storage and functionality. Plantation shutters, stone and tile countertops, a mix of tile, wood plank laminate flooring, and premium KitchenAid appliances complete the elegant yet easy-care interior. Sierra Norte is ideally located in a prime North Scottsdale location, offering privacy yet easy access to nearby dining and shopping. The subdivision has its own tennis court, covered Ramadas, grill and playground. Pima Road is nearby, ensuring quick trips into town or to the airport. Experience the best of desert living in this private sanctuary, where luxury, tranquility and convenience meet.
23006 N 86th Street
Scottsdale, AZ 85255
$1,499,000
4
Beds
4.5
Baths
3,919
SqFt
Status
Active
MLS #
6757661
Property Type
Townhouse
Price Type
--
Nestled in a quiet Pinnacle Peak corridor neighborhood, this beautiful 4 bedroom, 4,5 bathroom townhome boasts a charming old world feel with the luxury of modern, up-to-date finishes throughout. Situated on a corner homesite with only one connecting home, this end unit feels private and tranquil. A front courtyard lined with Saltillo tiles leads to a gated front entrance lush with greenery — the perfect place to enjoy your morning cup of jo. The entryway is rounded out by a gated front door for added security and style. Upon entering the home, the main level offers a front den/office/4th bedroom, formal living room with fireplace and a built-in bar situated nearby. The formal dining room features a custom built-in hutch for additional storage. The fully updated kitchen features stainless steel appliances, a large island with seating and plenty of cabinet space. As you make your way through the home, luxury vinyl plank flooring flows throughout the main living areas, accented by neutral modern tones and finishes including custom chandeliers. Upstairs, vaulted wood beam ceilings create a warm and inviting family room with a fireplace, custom built-in bar and balcony golf course views. The vaulted ceilings continue into the primary master suite outfitted with a sitting area, walk-in closet finished with barn doors, and an additional laundry space. This 3,919 sq. foot home includes a secondary master suite with an updated bathroom that has been completed with marble finishes and dual vanities. Heading to the cozy backyard, you'll find a fireplace for cool desert evenings and a built-in barbecue for grilling all year long. The space also includes a covered patio, perfect for entertaining and watching the Arizona sunset. Located across from the neighborhood park, community pool, tennis, in the La Vida community, this gorgeous townhouse is walking distance to Pinnacle Peak Country Club, shopping and dining with Market Street just a short drive away. This well-maintained home is the perfect fit for anyone looking for a touch of Spanish desert charm in the heart of North Scottsdale.
1227 E Jeanine Drive
Tempe, AZ 85284
$1,499,000
5
Beds
3.5
Baths
4,174
SqFt
Status
Active
MLS #
6769630
Property Type
Single Family Residence
Price Type
--
RARE Corona Ranch basement home with 5 bedrooms and 3.5 half baths is ready for you! This huge corner lot sits on just over a 1/3rd of an acre with mature landscaping, huge pool, built in jacuzzi and outdoor BBQ. Entering you have a huge living space, lots of natural light throughout, plenty of space for everyone to enjoy. Plantation shutters throughout entire house. Full basement has room for all your media, toys, bar and 2 bedrooms w a full bath.Best lot in the community !
2026 Rustic Timbers Lane
Prescott, AZ 86303
$1,499,000
3
Beds
4
Baths
4,101
SqFt
Status
Active
MLS #
6766753
Property Type
Single Family Residence
Price Type
--
This beautiful home in Hassayampa Village has only ever known one owner and is waiting for you to call it home. From expansive views to a 3 car garage, this home offers everything in between. Enter into the great room facing the floor to ceiling stone fireplace and windows opening out to the forested views off the main level deck. Kitchen with an island, custom cabinetry and a double wall oven. Formal dining room with large picture window. Laundry room with plenty of cabinetry and a separate indoor workshop/hobby room for wherever your imagination takes you. Main level also offers separate powder room, primary suite, large den / office space, second bedroom and bathroom complete with walk-in jacuzzi tub.
16814 S Mountain Stone Trail
Phoenix, AZ 85048
$1,499,000
5
Beds
3
Baths
3,650
SqFt
Status
Active
MLS #
6772145
Property Type
Single Family Residence
Price Type
--
Come experience this newly renovated masterpiece in the coveted gated community of Canyon Verde. A light, bright, airy, and timeless residence where the stylish interior harmoniously blends with the stunningly designed outdoor space. This breathtaking sanctuary is situated on a hillside cul-de-sac lot with an extended driveway. You will enter the home through the custom lead glass doors offering unobstructed views to the backyard oasis. The formal living and dining room flow seamlessly into the kitchen which opens to the great room making this ideal for both entertaining or casual family living. The remodeled kitchen features shaker style cabinets paired perfectly with honed quartz countertops creating a natural organic feel. The custom vent hood and pot filler will be enjoyed by the cooks in the household. The expansive island serves as a prep space as well as offers additional seating. The dedicated walk-in pantry will help keep things organized and tidy. The great room features a fireplace with rugged stone and a chunky mantle creating a cozy, rustic atmosphere. The expansive windows overlook the majestic mountain views. As you make your way back to the formal living space your eyes will be drawn to the magnificent lighting and the robust ceiling beams. The floating shelves envelop a sleek contemporary fireplace creating a chic and functional design element. The primary bedroom retreat is a tranquil and inviting space where you will experience relaxation and rejuvenation. The spa- like bath features an abundance of custom cabinetry complete with a built-in beverage center, a luxurious walk-in shower, and a stand-alone soaking tub perfectly positioned to enjoy the colorful blooms of the bougainvillea. The walk-in closet has been redesigned for functionality and is sure to please. The property features four additional spacious bedrooms along with 2 full baths. Truly the home will check every box! Make laundry fun again is what you will be thinking when you step inside this spacious laundry room that has ample cabinetry, a storage closet, and a sink that even has a pull-out faucet! And just when you thought a garage could not excite you! In this 3-car garage you will find a water softener, a tankless water heater, and a ceiling mounted extension cord keeping your garage tidy! A custom metal pull-down attic ladder that is built to withstand frequent use and durability. Just when you think it can't get any better, you enter the backyard through the wall of window sliders, allowing for an abundance of natural light and seamless indoor-outdoor flow. On the weekends you may find yourself watching your favorite team under the covered patio, floating in your pool or hot tub, grilling on the outdoor grill, or relaxing on the chaise lounges. Whatever it is, you can count on being rejuvenated and ready to take Monday by storm! I think you will agree that 16814 S Mountain Stone Trail is a very special home. It's time for the current owner to pass the torch and share their beloved home with a new buyer. This space has been filled with cherished memories and is ready for someone new to create their own story.