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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5841 S Marin Court
Gilbert, AZ 85298
$2,799,900
4
Beds
4.5
Baths
5,286
SqFt
Status
Active Under Contract
MLS #
6721236
Property Type
Single Family Residence
Price Type
--
Beautiful custom 4BR/4BA + den, dining, game room & nicely upgraded detached guest quarters. Combined sq ft of 5286. Private, theatre, travertine floors, 12 ft ceilings with striking wood beams, stone accents & crown molding throughout. The killer kitchen features Wolf Appliances, massive granite counter top space, 2-dishwashers, walk-in pantry & a cool beverage service area. Primary BR features coffered ceilings, custom closets, dual walk-in shower & Jacuzzi tub. Bring the toys, trucks, etc. & store them in your HUGE detached 2000 + SF, garage. With over ht. 14 ft RV door + 3-car attached gar. This home has been designed for a lifestyle of unparalleled comfort & luxury! The back yard Oasis is set with pool, spa, massive fireplace , built-in BBQ & ext. patio for all your entertainment! Situated near one of Gilbert's premier location only 5-10 min. to the So. 202 FWY, SanTan Village Mall, 20 min. to both downtown Gilbert & downtown Chandler & 35 minutes to Phoenix Sky Harbor International Airport. Far too much to list, a must see!
4281 S Iowa Street
Chandler, AZ 85248
$2,799,000
5
Beds
5.5
Baths
6,135
SqFt
Status
Active
MLS #
6752127
Property Type
Single Family Residence
Price Type
--
Discover unparalleled luxury in this distinguished completely remodeled estate nestled in the heart of Aegean Cove in Fulton Ranch. This stunning basement home offers a rare blend of luxury, convenience, and comfort. Boasting 5 bedrooms, two office spaces, 5.5 bathrooms and a large bonus room in the basement. This meticulously renovated residence spans 6135 square feet of living space, ensuring ample room for both relaxation and entertainment. As you enter through the custom designed iron front door discover a seamless fusion of modern elegance and timeless charm. The open-concept layout enhances the flow between the spacious living areas, which are adorned with wood flooring and custom cabinetry throughout. Expand your living and entertaining space with a large glass pocket door that gives access to the spacious covered patio, as well as flood the interior with additional natural light . No expense spared in this remodel this gem. The gourmet kitchen was updated with top-of-the-line GE appliances, enormous island with 2 dishwashers, ice maker and 6 burner range with griddle. Showcase your wine collection with an impressive wine wall visible from the kitchen and the great room. Entertain in the large living room with a full service bar which boasts a kegerator, beverage cooler, ice machine and custom cabinetry with LED lighted shelves. Enjoy the completely revamped resort style back yard. The Stunning pool and spa with swim up bar, rock water slide and grotto will ensure your guests and family are well taken care of from the large ramada next to the pool which is outfitted with a sink, beverage coolers and TV for viewing from the sunken seating area. Cool off under the misting system or get warm curled up next to the firepits.
6539 S Oakwood Way
Gilbert, AZ 85298
$2,799,000
6
Beds
4
Baths
6,500
SqFt
Status
Active Under Contract
MLS #
6769600
Property Type
Single Family Residence
Price Type
--
Welcome to 6,500 square feet of pure custom luxury w/in the highly coveted gated community of Estados at Seville Golf & Country Club in Gilbert, Arizona. This custom-built estate offers the ultimate in country club living, complete with a fully finished basement, oversized rooms, his-and-her office spaces, an enormous walk-in closet, pantry, and a home theater. The backyard is a true resort oasis, set on a three-quarter-acre lush green lot. It boasts a diving pool, sport court, children's playground, sunken trampoline, built-in BBQ, outdoor living room, and an expansive covered patio with multiple walls of glass that effortlessly blend indoor and outdoor living spaces. Once you settle into this stunning estate, with its custom finishes throughout, you may never want to leave... But the amenities of Seville Country Club will beckon! Just a short golf cart or bike ride away, you'll find an 18-hole golf course, a health & fitness center, two restaurants, four pools, two-story waterslides, tennis and pickleball courts, reception halls, a hair salon, a preschool, a K-8 school, on-site childcare, bocce ball courts, concerts, and so much more. The Seville lifestyle offers far more than a typical neighborhood. Once you experience it, you'll understand why it's one of the most sought-after communities in the greater Phoenix area. Located in Gilbert, Arizonarenowned for being one of the safest communities in the U.S.this massive, elegant estate awaits to welcome you home to a new level of luxury living.
10638 E Yearling Drive
Scottsdale, AZ 85255
$2,799,000
5
Beds
4.5
Baths
4,379
SqFt
Status
Active
MLS #
6714988
Property Type
Single Family Residence
Price Type
--
Welcome to your dream retreat in guard-gated Windy Walk Estates at Troon Village, where luxury meets panoramic beauty. This custom home offers an unparalleled backyard sanctuary with breathtaking up-close views of Pinnacle Peak, ensuring every moment spent outdoors is a masterpiece. The expansive private yard features a majestic Ironwood tree as its centerpiece, surrounded by artificial turf and mature vegetation, providing the perfect backdrop for relaxation and entertainment alike. Step into serenity as you lounge under the covered patio adorned with stacked stone accents, a cozy fireplace, and a built-in barbecue. Descend into tranquility as the tiered yard leads you to a sparkling pool and spa, complete with a mesmerizing rock waterfall and travertine hardscape surround, offering a blissful oasis against the backdrop of the desert landscape. Inside, you will find a remodeled interior completed in 2017 boasting on-trend finishes including high-end quality stonework throughout from a Chicago-based Eastern European craftsman. The French country-inspired kitchen exudes charm with custom white cabinetry, delicate mosaic backsplash, stone counters, Subzero refrigerators, complemented by stainless steel appliances including a Wolf gas cooktop and two wall ovens. Enjoy intimate meals in the attached breakfast nook with corner view windows, or entertain guests in the formal dining room with up-close views of Troon Mountain. Experience seamless living with accordion-style doors in the great room, opening up the space to the outdoors and flooding the home with natural light. A dramatic staircase, stone-clad centerpiece fireplace, and adjacent den create a welcoming ambiance, while clerestory windows and a private alcove offer versatility for office space or additional storage. Retreat to the upstairs primary suite, boasting a private balcony deck with city, golf (8th tee box of Troon Country Clubs private course), and mountain views, along with dual vanities, walk-in closets, and a spacious walk-in shower in the ensuite bathroom. With four additional bedrooms, including two ensuites, a third bedroom adjacent to a bath, and the fourth with a private den/living space and adjacent bath, perfect for in-law quarters. The laundry room has beautifully stained cabinetry, two washers, two dryers, and a prep sink. The owners entry off the two-car garage (with storage closet) has a touchdown station with cabinets and countertop, refrigerator, trash drawers, and an ice maker. Complete with all-new exterior paint and all-new windows throughout, custom window treatments on electric openers, an elegant entry courtyard, and a paver drive for visiting guests, this residence sets a new standard for refined living in the heart of Troon Village. Most furnishings and accessories are available for purchase via a separate bill of sale, allowing you to effortlessly transition into your desert paradise.
2335 E Plum Street
Gilbert, AZ 85298
$2,799,000
5
Beds
4.5
Baths
4,994
SqFt
Status
Active
MLS #
6786931
Property Type
Single Family Residence
Price Type
--
Exquisite Custom Home in the Prestigious Circle G Ranch at Silver Creek. Welcome to a truly magnificent residence where sophistication meets comfort at every turn. Nestled in the coveted Circle G Ranch community, this stunning custom-built home offers 5 luxurious bedrooms and 4.5 beautifully appointed bathrooms. Every detail has been carefully curated to create an atmosphere of timeless elegance, combined with modern amenities designed for effortless living and entertaining. As you enter, you're greeted by a grand formal living room and an expansive office or workout space, setting the tone for the level of refinement throughout the home. The open-concept kitchen, family room, and dining area are the heart of the home, ideal for both intimate gatherings and large-scale entertaining. The gourmet kitchen is a chef's dream, featuring an oversized island with a sleek quartz breakfast counter. Top-of-the-line Monogram appliances, including a built-in refrigerator and double Bosch dishwashers elevate the space. A separate wet bar with glass-fronted cabinetry, a wine rack, and a wine fridge and U-line built in ice-maker, ensures you're always ready to entertain in style. Luxurious finishes abound, with custom-tiled showers, quartz countertops, and rich wood flooring in the master suite. The expansive master closet is outfitted with mirrored doors and a storage island complete with seating. Each bedroom is designed with walk-in closets and private baths. For movie enthusiasts, you will enjoy a state-of-the-art theater room, complete with a surround sound system, projector, and screen, perfect for enjoying a night in with family and friends. Step outside to experience your own private oasis. The PebbleTec pool and spa are complemented by stunning rock waterfalls, one featuring a waterslide, waterfall, and grotto, and the other with a space for a hidden TV that rises from behind the waterfall, adding a touch of magic. An attached sunken bar area with a ramada makes this space ideal for entertaining, while the large outdoor fireplace, built-in BBQ, and custom sports field offer the perfect setting for al fresco dining and relaxation. For those who enjoy active outdoor living, the property also boasts a full basketball court, an in-ground trampoline. For added convenience and flexibility, the property includes an RV gate and a private casita with bathroom and walk-in closet, perfect for guests. This home is fully equipped with smart technology, including a whole house Control4 System, surround sound throughout, and powered security shades on the back of the home for ultimate privacy and comfort. The meticulously landscaped front yard features a roundabout with artificial turf and landscaping, creating an inviting first impression. Conveniently located near Gilbert Park and just minutes from premium shopping, this residence offers the ideal combination of serene privacy and urban accessibility. This is more than a home, it's a lifestyle.
24911 N 124th Way
Scottsdale, AZ 85255
$2,799,000
3
Beds
3.5
Baths
4,361
SqFt
Status
Active
MLS #
6718608
Property Type
Single Family Residence
Price Type
--
**Breathtaking Views!** This home offers stunning, unobstructed desert and mountain views—your chance to own the **only Sereno Canyon Estate home priced under $2.8M** AND priced $84K LESS than base price on a similar model new build, even before any upgrades. Located in Toll Brothers' premier, amenity-rich community, Sereno Canyon exemplifies luxury living with impeccable design and maintenance. Key Features Include: - **Guest Suite** with private entrance and living area for ultimate privacy - **Bonus Room** adaptable as a 4th bedroom, gym, or flex space - **Den** ideal for a home office or cozy retreat - **20' Pocket Door** seamlessly blending indoor and outdoor spaces Don't miss this rare opportunity in North Scottsdale's top luxury community.
6914 E 2nd Street
Scottsdale, AZ 85251
$2,798,950
4
Beds
3.5
Baths
3,014
SqFt
Status
Active
MLS #
6768865
Property Type
Single Family Residence
Price Type
--
Introducing Old Town 5! Downtown Scottsdale's newest urban living community with 5 stylish homes available, all with state of the art finishes, fresh design elements and luxurious living spaces. Each home will include a stunning gourmet kitchen, wide plank wood flooring, sleek cabinetry, refined marble, gorgeous custom lighting and fully retractable walls of glass that open to spacious entertainment balconies. The full guest house is an added bonus. High style, architectural excellence, quality, comfort and functionality combine to create an environment like no other. And Located in the center of the ever booming Old Town Scottsdale, where the lifestyle is unparalleled, and walking distance to the finest dining, clubs and shopping in all of The Valley, this unprecendented community of upscale homes promises to be as unique as it is desirable!
9424 E Hidden Spur Trail
Scottsdale, AZ 85255
$2,795,900
6
Beds
4.5
Baths
4,562
SqFt
Status
Active
MLS #
6747522
Property Type
Single Family Residence
Price Type
--
Located in Desert Haciendas of DC Ranch, this 6 bedroom, 4.5 bath residence offers a harmonious blend of elegance and comfort. You enter the foyer from he inviting courtyard which leads to the expansive living areas adorned with high-end finishes and meticulous craftsmanship. The gourmet kitchen boasts custom cabinetry,granite countertops, stainless steel appliances and a butlers pantry. The primary suite with a spa-like bath is on the main level as well as two other bedrooms as well as a wine room under the stair well. The 2nd level includes a spacious game/bonus room opening to deck overlooking the courtyard and three spacious bedrooms. One bedroom makes an ideal guest suite equipped with a morning station with fridge and coffee bar. The resort style back yard is an entertainment....... paradise with beautiful pool with water features, BBQ, dining area and cozy sitting area around the outdoor fireplace. The DC Ranch amenities include clubhouse, public pool, walking trails, tennis, fitness Plenty of restaurants and shopping minutes away. DC Ranch Country Club social and golf memberships are not included but available at additional cost.
4102 E Palo Verde Drive
Phoenix, AZ 85018
$2,795,000
4
Beds
3.5
Baths
3,326
SqFt
Status
Active
MLS #
6778613
Property Type
Single Family Residence
Price Type
--
Experience the pinnacle of contemporary elegance and luxury in this exceptional home. Step inside to an open-concept layout bathed in natural light, highlighting exquisite stone finishes and wide plank wood flooring that flows throughout. The gourmet kitchen, ideal for entertaining, is adorned with sleek stone countertops, top-tier Viking appliances, a stunning lighting installation, and a seamless glass wine display with capacity for 180 bottles. Designed for the ultimate indoor/outdoor lifestyle, the spacious living area opens effortlessly to resort-style grounds through expansive pocket doors. Outside, an artistically designed pool and spa with a serene water feature creates a true oasis with several inviting outdoor patios offer breathtaking views of Camelback Mountain, each equipped with ceiling-mounted heaters or cozy fire features for year-round enjoyment. Retreat to the tranquil primary suite, filled with natural light and featuring a spa-like bathroom with a large seamless glass shower, modern soaking tub, and dual sinks. Three additional en-suite bedrooms provide ample space and privacy for family or guests. Ideally situated near premier attractions like Steak 44, Biltmore Fashion Park, Lifetime Fitness, and Scottsdale Fashion Square, this residence perfectly balances luxury and convenience. Embrace a lifestyle where every detail has been thoughtfully curated for refined, contemporary living.
29121 N 105th Street
Scottsdale, AZ 85262
$2,795,000
4
Beds
4.5
Baths
4,486
SqFt
Status
Active
MLS #
6686109
Property Type
Single Family Residence
Price Type
--
Step into your future sanctuary! Nestled within Candlewood Estates Troon North in Scottsdale, this modern retreat, slated for construction commencing in May 2024, which promises comfort and elegance. Boasting 4 bedrooms, 4.5 bathrooms, and a den/office space, it's designed to cater to your every need. Embrace the feeling of spaciousness with soaring 14-foot ceilings that grace all primary areas, enhancing the sense of openness throughout. Each bedroom offers a private haven, complete with its own luxurious ensuite adorned with bespoke tile finishes for a touch of refinement. Each bedroom also has a private patio. Indulge in the seamless blend of indoor and outdoor living as floor-to-ceiling pocket sliders seamlessly connect the living area to a generously sized covered patio with a two-way fireplace, perfect for cozy evenings under the stars. Enjoy another additional outdoor patios provide even more spaces to unwind and entertain. Outside, discover meticulously crafted desert landscaping in the front yard, while the backyard presents a canvas for you to design your dream oasis. Luxury knows no bounds with upscale amenities including custom cabinets, waterfall kitchen countertops, Dacor appliances, wine fridge, a Vector fireplace in the master bedroom, and exquisite wood flooring. There are 11 skylights throughout home and on patios. With the opportunity to personalize finishes, this home invites you to create a bespoke masterpiece, seamlessly blending indoor and outdoor living.
8509 E Malcomb Drive
Scottsdale, AZ 85250
$2,795,000
5
Beds
4.5
Baths
4,474
SqFt
Status
Active
MLS #
6777209
Property Type
Single Family Residence
Price Type
--
Thomas James Homes presents this beautiful NEW BUILD pre-construction residence! Take advantage of the opportunity to select some interior finishes during early stages of construction! Sitting on a cul-de-sac surrounded by new construction in a highly desirable Scottsdale neighborhood, this beautiful 5 bedroom, 4.5 bathroom modern home is the definition of exceptional design. On the first story an inviting courtyard brings the outdoors inside while working in the office. The game room, and 2 covered patios lend themselves to entertaining and making family memories, & a full ensuite bedroom will make guests feel pampered. On the second story, a covered terrace, a loft and flex space along with 4 other bedrooms are sure to check all the boxes. Don't miss out to own NEW next door to OLD TOWN
8701 E Remuda Drive
Scottsdale, AZ 85255
$2,795,000
5
Beds
5.5
Baths
4,278
SqFt
Status
Active
MLS #
6758247
Property Type
Single Family Residence
Price Type
--
Stunning remodeled Scottsdale home with breathtaking mountain views! This exquisite single-level home located on an acre corner lot offers a split floor plan with 5 ensuite bedrooms, designer upgrades, & incredible outdoor spaces that capture the essence of Arizona living. The kitchen has been beautifully remodeled with quartz countertops & custom cabinetry. The spacious primary suite offers direct access to a private patio with heated spa & outdoor shower. Enjoy stunning desert mountain views from your expansive backyard featuring a heated pool, covered sitting area, a fire pit, & a large turf area with putting green. Close proximity to top-rated schools, fine dining, shopping, & world-class golf courses.