Case-Shiller: Home Price Growth Expands to All Metro Areas

March home prices were again dominated by the Northwest with Portland, Oregon posting a year-over-year gain of 12.30 percent followed by Seattle, Washington’s year-over-year gain of 10.80 percent.

Denver, Colorado rounded out the top three cities with a year-over-year gain of 10.00 percent. San Francisco, California, which consistently posted double-digit gains in recent months slipped to a year-over-year gain of 8.50 percent. This may indicate that prices in high cost metro areas are nearing their peak.

S&P Dow Jones Chair David M Blitzer attributed outsized price gains to the shortest supply of available homes since the mid-1980s. Homes for sale account for only two percent of U.S. households. To put rapidly increasing home prices in context, the S&P Case-Shiller 20-City Home Price Index was 11.50 percent below its peak in March, 2006.

Case-Shiller’s 20-City Home Price Index posted a 5.40 percent gain year over year, which was equal to its year-over-year price gain in March 2015. Month-to month home prices gained 0.90 percent; analysts had estimated year-year growth of 5.10 percent and a month-to-month gain of 0.70 percent. All cities in the 20-City Housing Market Index posted gains in month-to-month and year-over-year readings.

Pending Home Sales Exceed Expectations

Pending home sales in April supported trends noted in Case-Shiller’s 20-City Home Price Index. Regional results for pending home sales in April rose by 1.20 percent in the Northeast while pending sales were unchanged in the Midwest. The South posted pending sales gain of 6.80 percent and the West recovered with an 11.40 percent rise in pending sales for April.

Based on April’s pending home sales readings, real estate pros expect a jump in closed sales in May. Home buyer demand remains resilient according to Lawrence Yun, chief economist for the National Association of Realtors. Mr. Yun also said that the key to continued expansion of home sales is providing buyers sufficient supplies of affordable homes. Builders may provide relief by increasing construction, but have cited shortages of labor and developed land as constraints on new construction. Active demand for high-end homes has also focused construction on higher priced homes.

Mortgage applications are also increasing, which indicates that more homes are being purchased by owner-occupant buyers than investors. Relatively low mortgage rates and waning investor interest could provide buyers relying on financing a leg-up in competing for available homes.

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6879 E Palma Vita Drive Paradise Valley, AZ 85253

$9,195,000

3 Beds

3.5 Baths

5,480 SqFt

Status Active

MLS # 6719626

Property Type Single Family Residence

Price Type --

The Estates Homes are created by celebrated architect, C.P. Drewett of Drewett Works and award-winning Designer, Claire Ownby of Ownby Design. The floor plan offers gracious space spanning a main and lower level with astonishing views of Camelback Mountain. Future owner can choose from 3 architecturally styles. Each Estate is serviced and branded by The Ritz-Carlton Paradise Valley. Owners have full access to private amenities, hotel amenities, a wide variety of homeowner services, and hotel privileges. The Estate are built by luxury home builders, Starwood Custom Homes and GS Fries Construction. The owners have a very personalized experience with the entire team and involved in every step and progression of their semi-custom home. Please note Estate #6 is not built.

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42486 N 109th Place Scottsdale, AZ 85262

$9,000,000

5 Beds

10 Baths

12,825 SqFt

Status Active Under Contract

MLS # 6671996

Property Type Single Family Residence

Price Type --

FIRST TIME ON THE MARKET! Step into one of the loftiest residences in North Scottsdale! This European Style Estate, envisioned by renowned architect Bing Hu and brought to life by Shiloh Homes, nestles into a private hillside with the National Forest as its expansive backyard. Experience the epitome of privacy and serene living on over 2 acres, crafted with steel and concrete, tucked away in the secluded village of Sunset Canyon. Marvel at the extraordinary, rare views that span from sunrise to sunset, capturing city lights and everything in between! The residence boasts a primary bedroom, three ensuite bedrooms with a private sitting area and bar, two offices, a home theater, two wine cellars, ten bathrooms, and a guest house with a separate entry. FULL GOLF MEMBERSHIP AVAILABLE. Welcome to a haven of luxury, views, and unparalleled craftsmanship! Custom finishes abound, including vaulted and beamed ceilings, seven fire places, and two charming fire pits. Step into an exquisite culinary dream kitchen with dual islands, three farm sinks, three dishwashers, and a spacious butler's pantry. The home also features both a staircase and a stunning elevator, providing access to every level of the house!

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7555 N Eucalyptus Drive Paradise Valley, AZ 85253

$9,000,000

4 Beds

3.5 Baths

7,592 SqFt

Status Active

MLS # 6687994

Property Type Single Family Residence

Price Type --

New to the market for the very first time, this majestic, warm, and elegant Desert Contemporary occupies a serene setting and sits on a site of 2.3 acres on the Paradise Valley Country Club golf course. This one-of-a-kind highly desirable lot is situated on one of the most coveted cul-de-sacs in Paradise Valley. The splendor of the home, built in 1998, and featured in Phoenix Home and Garden magazine, begins by opening the dramatic front door of inlaid walnut wood with sculpted iron handles. Showcasing the extraordinary craftsmanship found throughout the home, the entry rotunda conveys a gallerylike calm, featuring dramatic art niches, honed marble and cherry wood floors illuminated by a dome skylight. A magnificent great room has soaring14' high ceilings of beams and inlaid wood. Floor to ceiling glass doors and windows frame views of the golf course and incredible vistas of the mountains. The kitchen with alder wood cabinetry, center island and eating bar flow into a breakfast room with a two-way fireplace and curved windows. Deep set patios invite you outside to the marble clad BBQ and outdoor dining, firepit and reflecting pool. Formal dining can be enjoyed while looking at vignettes of desert landscaping through glass doors on one side and a wall-to-wall window on the other. A peaceful retreat, the primary bedroom and office wing is a private space with well-placed windows, high ceilings and an atrium effect for the primary bathroom. A cozy yet spacious office is warmed by a 3-sided slate fireplace, creating a dual office space, art walls and comfortable seating. A secondary bedroom suite has a kitchenette and separate entrance, making it perfect for guests. A new wing was added in 2005, with a sizable jack-and-jill bathroom between two bedrooms, one of which can serve as another office space. Symmetrical lines, warm hues, serene elegance, and comfort make this residence a timeless masterpiece.

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5814 E Camelback Road Phoenix, AZ 85018

$8,999,999

5 Beds

5 Baths

6,243 SqFt

Status Active

MLS # 6759228

Property Type Single Family Residence

Price Type --

Introducing an exquisite 5-bedroom, 5-bath luxury estate spanning 6,243 sqft, meticulously crafted by Architect David Dick and Two Hawks Designs & Development. This architectural masterpiece boasts high-end finishes throughout, blending elegance and functionality. The expansive layout includes a state-of-the-art gym, two resort-style pools, and a dedicated pickleball and baseball court, perfect for sports enthusiasts. Take in breathtaking Camelback and Papago mountain views while entertaining guests in the full outdoor kitchen,creating memorable moments against a stunning backdrop. This home is more than just a dwelling, it's a haven for entertainment and relaxation. Situated conveniently close to premier retail, top-notch entertainment venues, and exquisite dining options, it offers the perfect blend of luxury living and accessibility. Welcome to a lifestyle of sophistication and comfort.

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4536 E Foothill Drive Paradise Valley, AZ 85253

$8,999,999

4 Beds

5.5 Baths

8,604 SqFt

Status Active

MLS # 6779307

Property Type Single Family Residence

Price Type --

This stunning property, remodeled by the acclaimed builder MDF Development with interiors led by Lauren Wallace, offers a luxurious and private escape in Paradise Valley. Set in an exclusive, secluded location, the home boasts incredible views and seamlessly blends indoor and outdoor living. From top to bottom, every detail has been meticulously crafted, featuring smart home technology with Crestron home automation for ultimate convenience. Home is in mid-construction and can be purchased early to allow buyer to selective certain finishes. The home comes with a 2-year builder warranty, ensuring peace of mind in this beautifully transformed retreat. Home currently under construction and pictures are of previous homes from same design/build team. Home can be purchased mid-construction.

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38824 N Charles Blair Macdonald Road Scottsdale, AZ 85262

$8,999,000

5 Beds

6.5 Baths

8,000 SqFt

Status Active

MLS # 6506635

Property Type Single Family Residence

Price Type --

Plans underway for this spectacular home designed by Kontexture and to be built by Silvercreek Development. Situated on a ridgetop lot in North Scottsdale guard gated community of Carefree Ranch Estates, this 8,000 square foot home features the latest and greatest in modern desert living with an emphasis on biophilic design. 5 bedrooms including guest house, plus office, and private master bedroom lounge. Spa like dual master bath with free standing tub, oversized shower with views of Desert Mountain Golf course and Pinnacle Peakand dual walk-in closets. HUGE great room with chef's kitchen, butler's pantry, top of line appliances, all spilling to the outdoors via walls of glass for indoor and outdoor entertaining needs. The outdoors includes 2,000+SF elevated terrace with outdoor kitchen, dining and living spaces, along with a zero and negative edge pool, spa, fire features for your outdoor entertaining needs. Elevated 4.36 acre site towering over the valley of the sun! Absolute privacy from this lofty perch overlooking tremendous city light, blazing sunsets, Desert Mountain Golf course views and surrounding mountain views of Black Mountain, Pinnacle Peak, Four Peaks and Camelback Mountain and the entire valley floor. Rough graded driveway in place. Highly-desired southernorientation provides maximum winter sun exposure on patio and pool areas. Private and tranquil for hiking and biking, yet quick access into Scottsdale, Carefree, Cave Creek for shopping, dining and golfing! Minutes from Skyranch private airport with available hanger space. Please inquire for more information or to review the plans on this spectacular estate home! Renderings are conceptual and square footage is estimated. Some finishes/features may change based on availability or buyer's preferences. Builder is happy to meet with buyers to discuss specific finish selections to meet individual needs.

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24546 N 91st Street Scottsdale, AZ 85255

$8,995,000

7 Beds

8.5 Baths

10,204 SqFt

Status Active

MLS # 6753806

Property Type Single Family Residence

Price Type --

The best of Prado Estates. Elegantly crafted and styled this Modern Spanish estate has been completely renovated by Mike Graham of American First Builders, exemplifying all that is modern and sophisticated. Featuring large functional living spaces opening to sweeping mountain and city views on this rare, large 4.7-acre estate lot. Upon entering, a large private courtyard leads to a stunning entry with custom steel windows and doors throughout capturing views of Pinnacle Peak and distant mountain vistas. Enjoy the open floor plan featuring a gourmet kitchen with double islands, a fully equipped butler's pantry and a welcoming great room with beamed ceiling detail and custom built ins. The Primary suite and office are located in a private area of the home while the en suite guest rooms are all spacious with private bathrooms featuring customized detailed tile work throughout. The massive 6 car garage, workshop and auto court make this home perfect for a collector or large family. A large two-story guesthouse includes two bedrooms and a private living area. Expansive resort like grounds featuring a private sport court/tennis court, putting green, custom outdoor kitchen with BBQ and pizza oven, heated pool and spa with room to add countless amenities. All located at the end of a quiet and private gated street. Prado Estates is convenient to multiple golf courses, hiking, shopping and restaurants in North Scottsdale. Truly the best of Arizona living!

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6480 E El Maro Circle Paradise Valley, AZ 85253

$8,975,000

6 Beds

10 Baths

11,499 SqFt

Status Active Under Contract

MLS # 6749693

Property Type Single Family Residence

Price Type --

THE BEST BUY of 2024...Just reduced $2,000,000 to the new incredible listing price. DO NOT MISS OUT! Nestled within the secure confines of El Maro's gated community stands a stunningly refurbished estate. As you step inside, you're greeted by panoramic mountain vistas & expansive interiors filled with natural light. An inviting billiards room adjoins the family area and kitchen, ideal for gatherings of all sizes. The formal dining and living spaces offer captivating views of the glistening pool, lush landscaping, sprawling golf course & mountains beyond. This exquisite home boasts a wine cellar, an exercise enclave, a theater for cinematic indulgence & a den/retreat with built-in bookshelves and desks. The main house comprises four en-suite bedrooms alongside a sumptuous master suite.. replete with balconies, a cozy fireplace, a spa-inspired bathroom, and a lavish closet just steps away, a wood-paneled office with awe-inspiring vistas awaits. Additionally, an attached guest casita provides a private haven complete with its own entrance, kitchen, laundry facilities, fireplace, and a separate bedroom with a full bath. The property features a lighted tennis court (or two pickleball courts), a four-car garage, and an elevator, among other refined upgrades, further enhancing the timeless allure of this breathtaking estate.

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6836 N 36th Street Phoenix, AZ 85018

$8,950,000

3 Beds

3 Baths

3,095 SqFt

Status Active

MLS # 6507389

Property Type Single Family Residence

Price Type --

The ''Circular Sun House'' was designed by Frank Lloyd Wright and was his final architectural design, and known as the Norman Lykes House. 3 beds + office + den + Library. Designed to blend in with the curves of the surrounding desert mountain, this iconic masterpiece was the last home designed by Wright and one of only 14 circular homes by the master architect. Overlapping concentric circles create a floorplan that flows seamlessly from one room to another while every room takes in unobstructed majestic views of Palm Canyon and the city below. Curved walls, clad in golden-hued Philippine mahogany cover the three bedrooms and hallway, reflecting the natural light of Palm Canyon. Sprawling entertaining spaces flow outside to ample patios and a crescent-shaped pool. In Architectural Digest! Three bedrooms PLUS library, plus den could be 4th bedroom and office that sits atop the home.

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5800 N Monte Vista Drive Paradise Valley, AZ 85253

$8,950,000

5 Beds

7 Baths

7,782 SqFt

Status Active

MLS # 6781796

Property Type Single Family Residence

Price Type --

With modern architecture, stunning curb appeal and picturesque views, this is the home you've been waiting for. The private estate boasting 5 bedrooms, 7 bathrooms, 6 + car garage, office and home gym is a breath of fresh air with its chic design and tranquil living space. The primary retreat is the perfect place to unwind with telescoping doors, fireplace and a coffee station. In the primary bathroom you will find an impressive oak walk-in clothing closet with stackable washer and dryer, dual vanity inc. makeup vanity, soaking tub, a walk-in shower, and even a privately enclosed outdoor shower. Over in the guest wing, you will find a secondary family room, theatre with projection screen and three en-suite guest bedrooms. Fully detached guest house with bedroom, bathroom, full kitchen... living space and stackable washer and dryer. Hosting made easy in this spectacular kitchen with two oversized islands, Wolf/SubZero appliances, custom cabinetry, coffee bar. Dine in the spacious formal dining room with floor to ceiling wine display or choose to dine outside under to expansive covered patio and enjoy our breathtaking AZ sunsets. Take a dip on the heated pool; relax near the sunken fire pit or hangout by the outdoor kitchen; whatever your weekend plans are, this home checks all the boxes.

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3285 N Mountain View Road Apache Junction, AZ 85119

$8,915,000

6 Beds

9 Baths

9,150 SqFt

Status Active

MLS # 6687284

Property Type Single Family Residence

Price Type --

An opportunity like no other! 7 parcels spanning 24.18 acres with unlimited potential for luxury residential development or commercial transformation. Nestled against the breathtaking Superstition Mountain, this unparalleled sale features two captivating properties, each with awe-inspiring views. The residence on parcel 10001001H (3700 N Mountain View Road) showcases over 11,000 SqF of meticulously crafted architecture, boasting a custom design and premium amenities. Highlights include a state-of-the-art kitchen worthy of a magazine cover, rooftop patios, pool, and space for recreational vehicles. Meanwhile, parcel 10001001J contains a total of 12,000 SqFt feet of construction, comprising the main dwelling, a charming casita & 7488 sqft in garage space. The sale of this property includes addresses: 3307 N MOUNTAIN VIEW RD, AJ, AZ 85119 3285 N Mountain View RD, AJ, AZ 85119 AND multiple parcels of land.

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9719 E Madera Drive Scottsdale, AZ 85262

$8,800,000

4 Beds

4.5 Baths

6,241 SqFt

Status Active

MLS # 6774498

Property Type Single Family Residence

Price Type --

Step into this stunning modern contemporary home, meticulously remodeled both inside and out, with a touch of Southwest charm, nestled within the exclusive, guard-gated community of Desert Mountain. Situated in the prestigious village of Lone Mountain II, the home enjoys a prime location above the 8th green of the Geronimo golf course, offering breathtaking southern and southwestern exposures for winter sun and natural light all on a single level with NO STEPS. Relax on the expansive covered patio, where you can savor Arizona's captivating sunsets and sunrises, framed by sweeping panoramic views of majestic mountains and open skies. From the moment you enter, the thoughtful design of this home is evident, with features like a coffered ceiling in the living room and elegant porcelain tile floors. The abundant natural light and warm wood interior doors create a welcoming ambiance throughout. The chef's kitchen is a dream, boasting a spacious marble island and ample storage, perfect for entertaining. The backyard is an entertainer's paradise with its pool, spa, and covered patio, offering plenty of space for alfresco dining and complete privacy. Inside, the home features four luxurious bedroom suites plus an office with custom built-in bookcases. The open-concept layout is flooded with natural light through large windows, and every room feels generously sized, including two primary his and her custom closets. The interior design includes distinctive adobe block walls and all fireplaces have been completely redesigned, with one featuring elegant tile and the other two showcasing custom-designed limestone. Completing the home is an oversized three-car garage able to house four full size vehicles with a large storage room and a south-facing patio that ensures privacy while enjoying the pool and spa. Optional Desert Mountain Golf Membership is available.

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