Home prices gained in August per the 20-City S&P Case-Shiller Home Price Index. Analysts said that home values continue to expand in spite of challenges including low inventories of available homes and strict mortgage qualification requirements.
National Home Price Index Near 2006 Peak
According to the national Case-Shiller Home Price Index, August home prices are 0.10 percent below their 2006 peak and all metro areas in the 20-City Home Price Index posted gains. Top gains in the 20-City Home Price Index were posted by Portland, Oregon with a year-over-year gain of 11.70 percent, Seattle, Washington home prices gained 11.40 percent and Denver, Colorado home prices gained 8.80 percent year-over-year.
All metro areas included in the 20-City Index posted year-over-year gains in excess of one percent. New York City had the lowest year-over-year price gain with a year-over-year reading of 1.70 percent in August. Washington, D.C. home prices rose 2.30 percent year-over-year. Home prices in the Cleveland, Ohio metro area increased by 2.90 percent year-over-year.
New Housing Bubble Unlikely
With home price gains close to peak prices seen before the housing bubble burst, concerns may arise over the potential for a new housing bubble to occur in coming months. Analysts say this is unlikely as home buyers are not taking out extreme levels of mortgage debt seen at the onset of the Great Recession. David M. Blitzer, chairman of the S&P Index Committee, said “There is no reason to fear another massive collapse is around the corner. The run-up to the financial crisis was marked with both rising home prices and rapid growth in mortgage debt.”
Possible Fed Rate Hike Won’t Cause Mortgage Rates to Explode
The Federal Open Market Committee of the Federal Reserve is expected to raise the Fed’s target federal funds rate in December. This action will lead to interest rate increases for consumer credit and mortgages, but not at levels that would make mortgage loans suddenly unaffordable. While gradual increases in federal interest rates would cause mortgage rates to rise over time, market conditions and related factors could potentially cause home prices to slow or even dip in some areas. Regional influences including employment and demand for homes are examples of factors contributing to home price growth or decline in specific areas.
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135 Desert Holly Drive
Sedona, AZ 86336
$4,590,000
6
Beds
8
Baths
8,377
SqFt
Status
Active
MLS #
6765446
Property Type
Single Family Residence
Price Type
--
Enjoy breathtaking red rock views from this 8,377 sq. ft. fully remodeled luxury home, completed in fall 2024 and located in a premier gated subdivision in West Sedona. The property features resort-style living with a heated pool, hot tub, water feature, private guest casita (house) with a kitchenette, and a circular driveway leading to an enclosed front courtyard with a Feng Shui water feature. Inside, the home offers a well-appointed gourmet kitchen with new appliances, new temperature-controlled glass-enclosed wine wall, entertaining wet bar, and a cozy fireplace in the family room. Enjoy movie nights in the home theater and stay active in the fitness gym with its own private bathroom. The primary suite includes a sitting room and a spacious walk-in closet. Truly exceptional!
11952 E Casitas Del Rio Drive
Scottsdale, AZ 85255
$4,590,000
4
Beds
5
Baths
5,000
SqFt
Status
Active
MLS #
6714760
Property Type
Single Family Residence
Price Type
--
Just completed in 2024, this contemporary masterpiece is located within the gated community of Troon Highlands Estates within Troon Village. The private corner lot backs to 18 acre HOA owned preserve featuring extensive views of the McDowell Mountains, Tom's Thumb, and natural rock formations. Modern, yet timeless architecture and meticulous custom construction resulted in a stunning home complete with masonry walls, steel accents, extensive white oak millwork, floor-to-ceiling windows, and sliding glass walls. German-crafted Eggersmann kitchen featuring Miele and SubZero refrigeration and Wolf cooking appliances. The open-concept kitchen features two waterfall islands, dual sink stations, a patio pass-through, vast organization including an integrated pantry system, and a roll-up.. appliance garage. Fifteen illuminated crystal orbs are suspended over a 10-person dining area located between the kitchen and the great room. A glass walk-in wine storage incorporates independent temperature control. The private master suite features a wellness spa-inspired wet room, dual floating vanities, and large his and her's custom-finished wardrobes. A full guest suite offers mountain views from a private patio and a separate entrance. The large flex room is complete with SubZero and Fisher Paykel drawers, bar seating, and a sliding glass wall is perfect for entertaining. Two additional bedrooms with ensuite bathrooms, a large office, pool bath, and a powder room complete the guest wing. Exterior features include a large lap pool with Baja shelf, negative edge spa, natural limestone pavers, glass railings, double-sided fireplace, putting green, several cactus gardens, and a large BBQ area. A temperature controlled showroom garage sits across from an oversized 3 car garage allowing for a total of 4 full-sized vehicles to be parked inside. Integrated technology includes advance lighting and shade automation from Lutron HomeWorks, convenient whole-house audio via Sonos, and prewired for an advanced surveillance system. The project was built-to-suite for a discerning client who intended on living in the residence. With that said, no expense was spared and the home features best-in-class upgrades comparable to finishes seen in much more expensive homes.
38440 N 95th Street
Scottsdale, AZ 85262
$4,565,000
4
Beds
4.5
Baths
5,056
SqFt
Status
Active
MLS #
6772972
Property Type
Single Family Residence
Price Type
--
Desert Mountain Golf Membership Available! 38440 N 95th Street, Scottsdale, AZ 85262. Construction started September 2024. View Estate on an elevated lot in the top-ranking private golf community of Desert Mountain. Dramatic Mountain, Sunset and Community Night Light Views. Single level home with finished floor elevation at 2,734. Fresh architectural design with bold accents create a striking silhouette against the mature high Sonoran Desert landscape in the foothills of North Scottsdale's Continental Mountain range. Offering interior courtyards, water features, soaring ceilings, clerestory windows, open floor plan, glass walls, executive office and 4 car garage. Buyer still has time to make interior selections. Peace and tranquility on .81-acre elevated homesite with dramatic views. Conveniently situated close to golf courses, restaurants, Sonoran Fitness and Spa and near the front guard gates. This new home is designed by J. Core Architecture and being built by multi-award-winning luxury home builder Platinum Companies, which have built over 100 homes in Desert Mountain alone. Offering what today's buyer is looking for with great views, open floor plan, spectacular outdoor living and luxe finishes. Buyer can make interior selections if they purchase now. Home Highlights Sunset, Mountain and Community Night Light Views Great Room Design Split Floor Plan Four Ensuite Bedrooms (4th is the Casita) Guest Retreat Lounge Single Level (No Steps) Primary Bath - Two Private Dressing Rooms Second Washer/Dryer in Primary Suite Executive Office / Den Interior Courtyard (1,100+ Sq Ft) Deep Covered Patios 4+ Car Garage 0.81 Acre Lot Located away from main roads *Optional Water Feature shown in Courtyard Desert Mountain, an over 8,000-acre guard-gated, luxury private golf community, is in the foothills of the Continental Mountains in North Scottsdale. The higher elevation delivers miles of sweeping views and cooler temperatures than the valley below. Desert Mountain Club defines unparalleled championship desert golf. Offering members, the world's largest collection of private Jack Nicklaus Signature Golf Courses along with the newest course addition, Seven. Seven is a USGA-rated, championship par-54 golf course, designed to challenge and entertain both experts and beginners alike. Dining venue options abound, within the guard-gated community. Offering 10 distinctive restaurants and grills. Savor the fresh, thoughtful takes on Tuscan Italian, Southwestern, classic steakhouse and seafood specialties, and modern gastropub fare. The Sonoran Clubhouse and Spa is the club's swim, pickleball, tennis, and fitness hub. Along with a Cafe, there are eight new pickleball courts, golf croquet and multiple bocce ball courts to enjoy. Known as the Wimbledon of the West, the Desert Mountain Tennis Complex features five state-of-the-art Har-Tru green clay tennis courts, three fast-playing hard courts, and a spectacular stadium grass court. This remarkable amenity adds tremendous value and enjoyment to the community's Club Members along with an array of other fun activities. Renew and restore your body in complete tranquility at the Sonoran Spa. Located within the sprawling 42,000-square-foot Sonoran Clubhouse, a beautifully appointed Spa offers a wide range of services, including therapeutic massages, repairing facials, haircuts and color, and even acupuncture treatments. Adjacent to the Tonto National Forest (the second largest in the United States) is the Desert Mountain private trail system encompassing 20 miles of panoramic desert scenery and lush mountain flora. Explore the eastern slope of the Continental Mountains, views of Tucson's Catalina Mountains, and a 4,100-foot summit that overlooks landmarks like Skull Mesa, Elephant Butte, and Harquahala Peak. Desert Mountain Club Golf Membership is available for transfer from the Seller. Desert Mountain Club Membership Application Review is a 30-day and Board approval process that is required for the Buyer. See Documents Tab for Desert Mountain Club information. *Construction has started *Discount if Seller's Desert Mountain Golf Membership is not included. *Property taxes are quoted on vacant lot *Buyer to verify all information independently as information is subject to change. *Renderings (Architect/Artistic) and final views from home may vary. *Image(s) are architectural and/or artistic renderings and the final product may differ based on final selections and/or changes. *Seller holds an Arizona Real Estate License. * Desert Mountain Club Golf Membership is available for transfer from the Seller. Desert Mountain Club Membership Application Review is a 30-day and Board approval process that is required for the Buyer. **HOA Capital Reserve Fund Fee of 0.45% fee on the purchase price paid at Closing by Buyer.
7501 E Palo Verde Drive Unit 8
Scottsdale, AZ 85250
$4,559,000
3
Beds
4.5
Baths
4,415
SqFt
Status
Active
MLS #
6758018
Property Type
Single Family Residence
Price Type
--
Nestled among well-established neighborhoods just north of downtown Scottsdale, Palo Verde Lane is like no other community in the greater Phoenix area. While the architecture is desert modern, the home manifests the enduring characteristics of the materials used to create them: the warmth of wood, the permanence of masonry, and the openness of glass. The last in the community to be built, this home is the icing on the cake sitting on almost a 1/2acre lot and boasts a 3 car garage. The 3 spacious bedrooms are all ensuite, plus an office and a gym! Though only a stroll from upscale restaurants and shops, Palo Verde Lane honors its desert heritage. From its very inception, the community has been designed to harmonize with the environment and cultivate neighborliness among its residents.
27390 N 111th Street
Scottsdale, AZ 85262
$4,550,000
4
Beds
3.5
Baths
4,400
SqFt
Status
Active
MLS #
6744434
Property Type
Single Family Residence
Price Type
--
Introducing an exquisite desert contemporary masterpiece by Worth Development and J.Cor Architecture. Set on an expansive 4.22-acre parcel, this custom estate is a sanctuary of privacy and seclusion, offering breathtaking, unobstructed vistas of Pinnacle Peak, Troon Mountain, and Tom's Thumb/McDowell's. Enjoy the rare privilege of no HOA restrictions, and relish in the proximity to the world-class Four Seasons Resort Scottsdale. We invite you to inquire about this remarkable estate, where elegance and tranquility harmoniously converge.
6154 E Alta Hacienda Drive
Scottsdale, AZ 85251
$4,550,000
4
Beds
4.5
Baths
3,581
SqFt
Status
Active
MLS #
6784408
Property Type
Single Family Residence
Price Type
--
A rare chance to own a stunning property in the premier luxury community at The Phoenician Resort, located on one of the best lots within the community. Nestled within a gated community, this exceptional residence offers a lock-and-leave lifestyle that provides both security and convenience for the discerning buyer. The home boasts unobstructed, panoramic views of the iconic Camelback Mountain, with breathtaking extended vistas of the McDowell Mountains, and it backs to the 18th hole of the renowned Phoenician Golf Course, offering a serene and picturesque backdrop. It features an elevator for easy access, a spacious and elegant floor plan perfect for both everyday living and entertaining, and top-of-the-line finishes and appliances throughout. Additionally, the property includes a... detached guest house, offering privacy and comfort for visiting family or guests. For those seeking a fully turn-key opportunity, this home is available for a separate bill of sale with the designer-purchased furniture, ensuring a seamless move-in experience. Located just minutes from Scottsdale's renowned high-end dining and shopping, this exclusive address offers unparalleled access to Scottsdale's finest shops. This property seamlessly integrates the perfect balance of luxury, comfort, and convenience. This is truly a once-in-a-lifetime opportunity to own a property, in a location that combines breathtaking beauty, golf course and lake views, and luxury living.
5040 N Ascent Drive
Scottsdale, AZ 85251
$4,548,601
3
Beds
3.5
Baths
4,312
SqFt
Status
Active
MLS #
6702208
Property Type
Single Family Residence
Price Type
--
A NEW PRIVATE RESIDENTIAL COMMUNITY WITH A COVETED LOCATION AT THE BASE OF CAMELBACK MOUNTAIN ADJACENT TO THE ICONIC PHOENICIAN® RESORT IN SCOTTSDALE. ONLY A SHORT DISTANCE TO FASHION SQUARE AND OLD TOWN SCOTTSDALE. THIS COLLECTION OF CUSTOM HOMES TO BE BUILT EXCLUSIVELY BY CULLUM HOMES OFFERS ONE, TWO AND THREE-LEVEL RESIDENCES THAT REFLECT A TIMELESS, MODERN DESIGN AND LOOK OUT OVER THE BEAUTIFUL PHOENICIAN® GOLF COURSE. ALL PLANS ARE FULLY CUSTOMIZABLE. INTRODUCING THE CIRRUS B FLOOR PLAN, A THREE-LEVEL HOME FEATURING 3 BEDROOMS, 3.5 BATHROOMS, A PRIVATE OFFICE AND A 3-CAR GARAGE. THROUGH THE EXTRAVAGANT FRONT ENTRANCE LOCATED ON THE LOWER LEVEL, A BEAUTIFUL STAIRCASE OR AN ELEVATOR TAKE YOU TO EVERY LEVEL OF THE RESIDENCE. THE MAIN LEVEL BOASTS TWO EN SUITE BEDROOMS, PRIVATE OFFICE, FORMAL DINING AREA, BUTLER'S PANTRY, OPEN CONCEPT KITCHEN, ADDITIONAL POWDER ROOM AND THE GREAT ROOM AREA. SPACIOUS KITCHEN WITH ISLAND, EAT-AT BAR AND WALK-IN PANTRY. A GLASS WALL LEADS YOU TO THE COVERED PATIO OFF THE GREAT ROOM WHERE GORGEOUS VIEWS AWAIT YOU. OWNER'S SUITE WITH WALK-IN CLOSET, DOUBLE SINK VANITY, SEPARATE TOILET ROOM, TUB AND WALK-IN SHOWER SIT ON THE TOP LEVEL. ALONG WITH A LARGE LAUNDRY ROOM WITH EXTRA STORAGE, PRIVATE OFFICE SPACE AND TWO DECKS. THE COMMUNITY IS GUARD GATED FOR PRIVACY AND SECURITY. AT THE BASE OF CAMELBACK MOUNTAIN, YOUR PRIVATE POOL, FITNESS CENTER, AND SOCIAL SPACES OFFER AN INTIMATE GATHERING PLACE FOR WELLNESS, SOCIALIZING AND RELAXATION. RESIDENTS ARE OFFERED THE OPTION TO JOIN THE PHOENICIAN® AMENITY ACCESS PROGRAM - ACCESS AND DISCOUNTS TO THE NEW ATHLETIC CLUB, 38,000 SQUARE FOOT SPA, TENNIS FACILITY AND RESORT POOLS AT THE PHOENICIAN® RESORT.
24444 N 128th Street
Scottsdale, AZ 85262
$4,500,000
4
Beds
4.5
Baths
5,806
SqFt
Status
Active
MLS #
6645982
Property Type
Single Family Residence
Price Type
--
One of three extraordinary & sophisticated contemporary styled Farmhouse homes designed by Encore Design Group on a massive three acre lot with NO HOA! This incredible home combines bright, contemporary design with timeless indoor-outdoor appeal, all in a highly-desirable location a stones throw from Tom's Thumb trailhead. This 5,806 SQFT custom home has a massive open great room floor plan with 4 bedrooms, 4.5 bathrooms, a separate game room or movie room, & an incredible four car garage. All selections & finishes can still be chosen.
40160 N 105th Place
Scottsdale, AZ 85262
$4,500,000
5
Beds
5.5
Baths
5,334
SqFt
Status
Active Under Contract
MLS #
6766192
Property Type
Single Family Residence
Price Type
--
Very private yet open space feel with fantastic city light, sunset and mountain views. Step inside this outstanding all ONE LEVEL contemporary home and experience Arizona living at its finest. The warmth of the courtyard with linear fireplace sets the stage for the ultimate indoor/outdoor living experience. Once inside, a captivating see-through wine structure and main living areas continue through glass telescoping wall to the outdoors combining the inside and outside into one entertaining experience. The two inviting gathering areas with full size bar are open to the gourmet kitchen featuring Wolf and Sub Zero appliances, a large island and hidden walk-in pantry. The dining / morning room is sure to please with its opening up to the front courtyard. Outdoors features negative edge pool, spa, barbecue, conversation area with fireplace, lounging and dining patios areas to relax and enjoy with family and friends. Conveniently located mid-mountain and within walking distance to the Sonoran Fitness Club. Primary suite includes French oak plank floors, a floor-to-ceiling linear fireplace. The primary bath vanity with plenty of storage, a freestanding tub, extra-large walk-in shower and two expansive designer closets. Three en-suite guest bedrooms with private patios. A separate casita opens to the courtyard and provides ample room for family and guests. Shell of home was built in 2007, 2019 all new interiors, finishes, mechanical and more. Listing includes vacant lot rear of pool preserving views.
8000 E Mariposa Grande Drive
Scottsdale, AZ 85255
$4,500,000
5
Beds
8
Baths
7,005
SqFt
Status
Active
MLS #
6773466
Property Type
Single Family Residence
Price Type
--
Welcome to this exquisite Arizona estate, set on an expansive 2 plus acre lot with unmatched luxury and privacy. Enter through a private gate and arrive at the motor court, where you can choose from one of 14 garage spaces. Inside, you'll be greeted by rare 30-inch Beaumaniere French limestone floors and three elegant interior fireplaces as well as one wood burning exterior fireplace. The second level features hand-scraped, pegged oak plank floors, adding warmth and character. The gourmet kitchen boasts cherry, alder, and black poplar cabinetry, highlighted by stunning book-matched Italian Verde Bologna granite countertops. Top-tier appliances include Sub-Zero, Wolf, and Asko, complemented by Franke professional sinks. The main home is over 6000sf of opulent space. The kitchen and great room are adorned with stately hacienda beams, while 8-foot knotty alder solid wood doors enhance the the home's craftsmanship throughout. For outdoor living, enjoy two distinctive outdoor showers, brick patios, and a fully tiled, heated pool and spa. The massive 4648 sf detached garage offers A/C, a full bath, laundry facilities, and even a gun range. A spacious casita with over 1000sf, mature desert trees, and lush landscaping complete the property's appeal all with no HOA restrictions. This estate truly represents the finest in Arizona living.
4704 N 40th Place
Phoenix, AZ 85018
$4,500,000
5
Beds
5.5
Baths
5,007
SqFt
Status
Active
MLS #
6777137
Property Type
Single Family Residence
Price Type
--
Your dream home in the desirable Arcadia area of Phoenix is coming Spring 2025! Take advantage of pre-completion pricing! This stunning residence will offer unparalleled luxury & comfort across its expansive layout. This home is designed for the ultimate in spacious living. Upon entering, you are led seamlessly into the grand living spaces filled with natural light & high ceiling. The gourmet kitchen is a chef's delight, featuring Wolf/Subzero appliances, custom cabinetry, a nicely appointed back kitchen, a large island perfect for both cooking & entertaining while overlooking the backyard oasis. Adjacent is the formal dining room, ideal for hosting dinner parties & gatherings. The primary suite is a true retreat, complete w/a soaking tub, dual vanities, & a large walk-in shower for 2. Each additional bedroom includes its own ensuite. The outdoor area is an oasis unto itself, with a sparkling pool & soothing spa where you can relax & unwind. The expansive patio & landscaped grounds provide ample space for outdoor dining, lounging, & enjoying the Arizona sunshine year round. Additional features of this exceptional home include: High ceilings & an abundant of natural light throughout. A spacious family room perfect for casual gatherings. State of the art technology & smart home capabilities. Three car garage with ample storage space. Located in the Arcadia area, this home is in Hopi Elementary boundaries and a 3 minute drive to Phoenix Country Day School. offers easy access to upscale shopping, dining, & entertainment. Enjoy the nearby hiking trails of Camelback Mountain or some of the finest golf courses.
6702 E Cholla Street
Scottsdale, AZ 85254
$4,500,000
5
Beds
5.5
Baths
5,320
SqFt
Status
Active
MLS #
6764687
Property Type
Single Family Residence
Price Type
--
This stunning new build due to be completed May/June 2025, by Mistry Homes, is a timeless modern masterpiece. A sophisticated and sleek, 4266sf single story home with 1054 detached guest house has been designed with high-end finishes throughout, and is constructed with the highest standard of quality. Nestled among a well-established neighborhood, in a highly desirable location, this home is a stand out. Boasting a fresh architectural design with bold accents that create a striking silhouette against the desert landscape and mountain views. The soaring ceilings enhance the home and highlight the thoughtfully designed, dramatic living spaces. And a neutral, monochromatic pallet, is perfect for personal creation and customization. The primary house enjoys a flexible floor plan, w/ 4 generous ensuite bedrooms and an executive office with state of the art features. In addition, the detached 1,054sf guest house offers one bedroom, bath, kitchen and living area that is perfect for in-laws, a live-in nanny or possibly an office or place for your specific interest like art, yoga, or fitness. This home is in process with all selections already made. Builder estimates completion in May/June 2025.