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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19912 E Natalie Way
Queen Creek, AZ 85142
$2,599,999
6
Beds
5.5
Baths
5,313
SqFt
Status
Active
MLS #
6658871
Property Type
Single Family Residence
Price Type
--
Welcome to resort style living in the highly desirable Whitewing at Whisper Ranch community. This desert contemporary multi-generational home is located on a premium lot and features 6 bedrooms, 5.5 bathrooms, and 4 car garages which includes a casita. An inviting entry leads to a modern and timeless design with lofty ceilings in the extended great room. Exuding warmth, this contemporary home features wood tile flooring and custom Roman shades throughout. The Chef's kitchen is the heart of the home and features dual islands for entertaining large groups and has an abundance of storage. Kitchen has 42'' upper cabinets equipped with stainless steel appliances including 6-burner gas stove with griddle, 3 ovens, built-in microwave, separate 2 drawer fridge in island along with a 15 automatic ice maker. The large built-in fridge/freezer is equipped with RO filtered water and ice maker. The great room features an electric 74 fireplace and a 20' sliding wall of glass that seamlessly flows into outdoor living. Store and pour your beverages at the bar which includes a dual zone wine fridge, sink and plenty of cabinetry. Custom iron and glass doors adorn the office entry to provide a quiet workspace off the great room. The large primary suite offers plenty of space for a sitting area. The luxurious spa-like bathroom has a soaking tub, walk-in shower with dual heads, built-in bench, and an oversized mirror. Separate vanity area includes a lighted mirror with Bluetooth speaker. Large closet with wall unit for extra storage and a separate exercise room which could also be used as a second closet. This split floor plan offers four additional bedrooms on the east wing of the home along with a spacious bonus room featuring a wall unit for extra storage as well as direct backyard access. Each generously sized bedroom has walk-in closets and direct access to a bathroom. The sizable laundry room has entry to all 4 garages, an abundance of storage, utility sink and refrigerator. Garage upgrades include custom garage cabinetry from floor to ceiling, professional epoxied floors, and a built in workbench. Also included is a Kinetico Whole House Water Treatment System and two tankless gas water heaters. This energy efficient home is easy to keep cool as it has 4 individual air conditioning units along with sunshades on the windows. Escape to the resort style backyard and relax under the sun on the Baja steps on one of four Ledge Loungers. The 11' square raised spa with therapy jets is one of a kind and can comfortably seat 12 people. The pool and spa have an in-floor cleaning system. They are easily heated and controlled with a touch of a button from your phone or tablet along with the deck jets, bubblers and LED lighting. The private backyard is an entertainer's dream. The outdoor kitchen is complete with a built-in Hestan 42'' professional BBQ grill, gas burner, sink and commercial fridge, fully equipped for outdoor cooking and entertaining, complete with a media wall large enough for an 86 television. A commercial misting system has been installed on the 15' x 26' ramada and the covered back patio. The ramada also features an outdoor shower. Enjoy your morning coffee under multiple structures taking in the beautiful Arizona outdoor living with tranquility and privacy. Professionally designed and landscaped with front and backyard lighting and pavered walkways on each side of the house. In addition to the 10' RV gate, a third 4' gate was added to the west side of the home. Expansive pavered driveway offers additional parking. The casita is located off the courtyard and has its own separate entry featuring a family room, bedroom, walk-in closet with washer/dryer hookups, bathroom with a walk-in shower and kitchenette with 2 drawer fridge/freezer. Upgraded stone countertops and plenty of cabinets. Ceiling fans and a separate A/C unit provide a comfortable environment. Fully wired with the Unifi WIFI 6 system it incorporates 30 ethernet drops, 13 - 4K cameras throughout the property, NVR security camera recordings, 5 access points, 8 TB hard drive, CAT 6 as well as a networking closet that is rack mounted. Controlling the pool, spa, garage, thermostats, security system, tankless water heaters, kitchen ovens and smart locks have never been easier thanks to the many smart home features and dedicated apps easily accessible from your phone, computer, or tablet. The Whitewing at Whisper Ranch community offers impressive amenities which include front and back entrance gated access, a fully equipped and furnished clubhouse perfect for entertaining and hosting events, outdoor gas fireplaces and BBQ areas to gather, a bocce ball court, a fenced in dog run, luscious green belts, and a children's play area/park. Just a couple minutes away from the Queen Creek Marketplace, excellent schools, restaurants, shopping, and serene trails to walk, hike and bike around the Sonoqui Wash. In close proximity to all the community has to offer! Owner Agent
4422 N 75th Street Unit 8004
Scottsdale, AZ 85251
$2,599,000
2
Beds
2
Baths
1,991
SqFt
Status
Active
MLS #
6766228
Property Type
Apartment
Price Type
--
ONE OF A KIND ABSOLUTELY GORGEOUS PENTHOUSE ON THE 8th FLOOR OF ENVY RESIDENCES with A+ VIEWS FROM THE 550' WRAP AROUND BALCONY overlooking all that OLD TOWN SCOTTSDALE has to offer. PERFECT FLOOR PAN WITH OVER $200K IN NEW DESIGNER UPGRADES FEATURING FLOOR TO CEILING GLASS, hardwood flooring, huge waterfall kitchen island, Subzero and Wolf appliances with amazing wall accents touching almost every wall throughout this beauty. ENVY boasts absolutely state of the art amenities including a 4000 sq ft Fitness Facility, swanky Black Label Lounge, gorgeous pool and pool lounge area that rivals any Las Vegas resort, underground parking, 24 hr concierge/security and so much more. MUST SEE, walking distance to everything OLD TOWN SCOTTSDALE has to offer.
19883 E Vallejo Street
Queen Creek, AZ 85142
$2,599,000
4
Beds
5
Baths
3,898
SqFt
Status
Active
MLS #
6768419
Property Type
Single Family Residence
Price Type
--
A breathtaking Toll Brothers home in exclusive Whitewing community. No detail spared. Nearly 4000 sf of beauty and detail, located on a premium corner lot backing up to a lush greenbelt with 4 bedrooms, 4.5 baths, and over 180 degrees of breathtaking mountain views- watch the sunrise and sunset. This spacious interior boasts over $400,000 in upgrades and customizations, including: Grand ceilings throughout, solid alder doors, 18ft disappearing walls to patio, a center courtyard, and spectacular lighting. Chef's kitchen boasts Double Ovens, 48'' gourmet gas cooktop, separate fridge, and freezers, Sub Zero 64 bottle wine cabinet, 2 large Islands, quartz countertops, custom led lighting features, over $60k in custom closets, media walls, and storage cabinetry, epoxied garages, grand entry door, solid wood floors and Ceramic tile throughout, $40k Sonos audio system throughout, whole house water treatment system, reverse osmosis. Over $500,000 in pool and landscaping by Creative Environments, including: a heated pool with 2 Baja shelves, 2 covered entertainment areas, multiple fire and water features, 4 fireplaces, above ground spa, automated lighted awnings, outdoor kitchen with stainless appliances, and so much more. You've got to see it!
3810 E Devonshire Avenue
Phoenix, AZ 85018
$2,599,000
4
Beds
3.5
Baths
3,653
SqFt
Status
Active
MLS #
6758748
Property Type
Single Family Residence
Price Type
--
Welcome to this stunning 4-bedroom, 3.5-bathroom contemporary home in Phoenix! With 3,653 sq. ft. of beautifully designed living space, this home blends modern elegance with comfortable living. As you approach, you'll be greeted by the sleek desert front landscaping, featuring synthetic grass and a yard watering system for easy maintenance. Step inside to find a spacious interior with a mix of wood, stone, and carpet flooring, highlighted by a grand staircase, vaulted ceilings that enhance the open feel of the home. The living room boasts a cozy fireplace, perfect for relaxing evenings and open the beautiful accordion doors to create an outside entertaining space. The chef's kitchen is a standout feature, equipped with a walk-in pantry, kitchen island, and granite countertops. The eat-in kitchen layout is perfect for casual dining, with ample space for family and friends. The master suite, located upstairs, offers a full bathroom with a separate shower and tub, double sinks, large, custom walk-in closet and mountain views that can be enjoyed from the comfort of your private balcony. An additional bedroom downstairs provides flexibility for guests or a home office, and the upstairs laundry adds convenience to daily living. The outdoor space is an entertainer's dream, featuring several patios, built-in outdoor kitchen area with BBQ and refrigerator, multiple fire features and a sparkling private pool with 3 custom spillways and multi-color LED lighting. The backyard offers desert landscaping with synthetic grass, all maintained with a yard watering system, creating a serene and low-maintenance oasis. With an RV gate and parking, 2 garage spaces, and 2 additional slab parking spots, there's plenty of room for all your vehicles and toys. This home underwent extensive updates in 2018, including the flooring, wiring, plumbing, heating, cooling, roof, kitchen, bathrooms, and pool, ensuring a move-in-ready experience. 3rd bay garage was converted to an air-conditioned workout room. Located in a desirable community with mountain views, this property offers the best of luxury living in Phoenix.
2476 S Pinyon Jay Drive Unit 23
Flagstaff, AZ 86005
$2,598,000
3
Beds
3.5
Baths
3,221
SqFt
Status
Active
MLS #
6782904
Property Type
Single Family Residence
Price Type
--
Home is not yet under construction. List Price includes the following options: 3rd Car Garage, Pocket Door, Patio Extension, Built-in BBQ, Fireplace Surrounding to Ceiling, and Screening Landscape Allowance. The Kaibab plan is mostly single level and keeps owners within reach of the alpine environment around them. Center-sliders in the family room open to a spacious patio with breath taking views of the surrounding Ponderosa Pines. This open three-bedroom floorplan with an additional upper-level family room offers privacy and commune in an unmatched natural setting. Incentives are currently being offered. Please reach out to the Pine Canyon Sales Office for more information.
3630 E Coconino Court
Phoenix, AZ 85044
$2,595,000
6
Beds
7
Baths
5,883
SqFt
Status
Active
MLS #
6766692
Property Type
Single Family Residence
Price Type
--
Stunning One-Acre Lot in a Cul-de-Sac with Spectacular Views! This estate seamlessly backs to the preserve, offering amazing views and privacy, perfect for enjoying the incredible sunsets of Ahwatukee. The desirable floor plan boasts six bedrooms, seven bathrooms, and 5,883 sqft of living space. The sweeping staircase leads to a private master suite with exclusive balconies. Plus, there's a rooftop deck perfect for evening relaxation, offering breathtaking views of your private mountainside estate. Don't miss the gate behind the water slide that provides access to hiking on your own hillside! This resort-style backyard is a true oasis, featuring a sparkling 11-foot diving pool, a spa, a sports court, and a built-in Wolf BBQ. Enjoy... the extended covered patio, synthetic turf, pond, and play area. This luxurious estate in Ahwatukee Custom spans 6,000 square feet and showcases a beautifully remodeled, inviting open floor plan, even earning recognition in Phoenix Home and Garden!
8836 N 47th Place
Phoenix, AZ 85028
$2,595,000
6
Beds
4
Baths
4,210
SqFt
Status
Active
MLS #
6779254
Property Type
Single Family Residence
Price Type
--
Enjoy tranquil resort style living in this sophisticated contemporary home. Nestled in the gated enclave of Doubletree Canyon with mountain view backdrop, this classic Ranch style abode is geared to entertaining with open air living and a guest quarter wing. The interior offerings are timeless; maple hardwood flooring, designer lighting, custom wine cabinetry, and French doors that open onto spectacular views of the tiered desert oasis created in the backyard. Designed by Berghoff, and completely remodeled with a $400K value, the front and backyard are a desert masterpiece. With beautiful pergolas, expansive covered patio with automatic sunshades, exquisite sculptures and built in Viking grill, patio and bar this backyard is reflective of a fine resort.
6420 E Cholla Street
Scottsdale, AZ 85254
$2,595,000
4
Beds
2.5
Baths
2,514
SqFt
Status
Active
MLS #
6770117
Property Type
Single Family Residence
Price Type
--
Welcome to Cholla compound with a modern home that seamlessly blends luxury and leisure, featuring an open-concept design with large windows that flood the interior with natural light. The centerpiece is a sleek living area with vaulted ceilings that flows into a gourmet kitchen, equipped with high-end appliances and stylish finishes. Natural wide plank flooring throughout. Step outside to discover an expansive outdoor space, complete with a shimmering swimming pool and a relaxing spa, perfect for unwinding. Adjacent to the pool, a private pickleball court offers a fun way to stay active. Natural grass, turf combined with pavers make for a finished look. Multiple gates provide access for rv and other toy storage. The property also includes a separate garage equipped with HVAC, ensuring comfort year-round and ample storage for vehicles and recreational gear. This home truly embodies the ideal blend of contemporary living and recreational amenities. Could be converted to a guest casita. This modern home boasts an inviting outdoor space enhanced by a stylish pergola, perfect for outdoor dining and relaxation. The expansive area is designed for both leisure and entertainment, complementing the swimming pool spa and outside shower beautifully. Inside, a spacious laundry and mudroom adds convenience, featuring ample storage and functional design to keep the home organized. This seamless blend of indoor and outdoor living, combined with thoughtful amenities, creates an ideal environment for modern lifestyle. Please see attached documents with added amenity details.
10040 E Happy Valley Road Unit 340
Scottsdale, AZ 85255
$2,595,000
3
Beds
3
Baths
4,031
SqFt
Status
Active Under Contract
MLS #
6652340
Property Type
Single Family Residence
Price Type
--
IMMEDIATE GOLF MEMBERSHIP AT CLOSE OF ESCROW! Charming southwest contemporary home situated on a private lot in the world renowned Desert Highlands. Light and bright throughout with large expanses of glass bringing the outside in. Formal living room with fireplace, wet bar and wall of sliding glass doors. Formal dining surrounded by a wall of windows and open space, adjacent built-in buffet. Gourmet kitchen with top of the line stainless steel appliances and Snaidero cabinets and granite counters. Spacious primary suite with office and sitting area. 2 guest bedrooms include bedroom + adjacent sitting rooms. Grand backyard with outdoor living room, el fresco dining space, gas firepit, heated Pebble-Tec pool and spa and outdoor cooking station with built-In BBQ, viewing deck. Designated a top 'Platinum Club of America'' golf club, Desert Highlands amenities include a Jack Nicklaus championship golf course, 18-hole putting course, award winning clubhouse featuring ''Jacks'' gastropub, state of the art fitness center, Highlands Racquet Club featuring grass, clay & pickleball courts,& more. A $150,000 membership fee is due from buyer at close of escrow
5101 N Casa Blanca Drive Unit 235
Paradise Valley, AZ 85253
$2,595,000
3
Beds
2.5
Baths
2,130
SqFt
Status
Active
MLS #
6754435
Property Type
Townhouse
Price Type
--
In the exclusive enclave of Casa Blanca stands a truly exceptional residence unlike any other! This single-level home underwent a comprehensive transformation, where it was taken down to its shell and meticulously redesigned. Now boasting an exquisite great room that seamlessly flows onto a patio with views of Camelback Mountain, this home is a testament to luxury living. The attention to detail is unparalleled, featuring gorgeous finishes such as limestone flooring, elegant steel doors and windows and an incredible primary closet. Salvaged antique doors from a historic Masonic temple, sleek black-lacquered doors and trim, and sterling silver door hardware further enhance the allure of this special home.
41915 N 111th Place
Scottsdale, AZ 85262
$2,595,000
4
Beds
3.5
Baths
4,579
SqFt
Status
Active
MLS #
6710926
Property Type
Single Family Residence
Price Type
--
This stunning contemporary home, inspired by Frank Lloyd Wright, features a great room plan with seamless indoor/outdoor living and breathtaking views of the McDowell Mountains, Pinnacle Peak, sunsets, and city lights. The expansive outdoor area boasts a large covered patio, perfect for entertaining or relaxing by the lap pool. Inside, you'll find top-of-the-line kitchen appliances, hardwood and travertine floors, vaulted ceilings in the living room, a home office, his and her closets in the master bedroom, and ample storage throughout the home and garage. Some furniture available by separate agreement. Fenced backyard is perfect for pets. Owner has a Lifestyle Membership.
12832 E Sorrel Lane
Scottsdale, AZ 85259
$2,595,000
4
Beds
5.5
Baths
5,655
SqFt
Status
Active
MLS #
6695884
Property Type
Single Family Residence
Price Type
--
The Diamond House. Expansive McDowell Mountain views. Remodeled in 2020 this well cared for resort home sits on a large lot, in the exclusive gated community of Los Diamantes. Chef's kitchen with 6-burner Thermador cooktop, center island and walk-in pantry. Great room, formal dining and dedicated office. Bonus game room with wet bar and stunning glass wine display. Primary suite with sitting area, spa bath and walk-in closet. Private pickleball/Sport court, covered patio and built-in outdoor BBQ. This home was designed for entertaining. Pebble-Tec pool and spa, firepit, putting green and multiple sitting areas. Mature trees, citrus, and lush vegetation. Community tennis and playground. Close to hiking/biking trails, golfing, MAYO, Honor Health, BASIS, and top-rated Scottsdale schools.