July Market Update

We have officially entered the year’s second half, and time has flown by! The market has remained relatively unchanged over the past few months, with the ongoing dominance of a Seller’s market fueled by exceedingly low inventory levels. Mortgage rates have not reached their optimal point, causing many potential buyers and sellers to hold off on entering the market. However, there is positive news for home sellers, as the average sales price continues to climb, although slower, and the luxury market remains robust despite usually seeing a seasonal dip in pricing.

Enjoy your summer, and please do not hesitate to ask any questions about the real estate market or the information in this issue of our Monthly Update.

Maricopa County Market Activity

City	7/13/23	7/13/22
Phoenix	1,136	2,421
Scottsdale	814	1,020
Paradise Valley	125	103
Chandler	132	493
Peoria	288	508
Cave Creek	111	147

Maricopa County Residential Active Listings

7/18/2022 = 15,074

7/18/2023 = 10,425

*Includes homes Under Contract or UCB MLS Data

We are in a Seller’s Market

The data from the latest Cromford Market Index shows that most cities are in a seller’s market, which gives them an advantage over the buyer. Listed below are the seller’s markets with only Buckeye remaining a balanced market.

1. Scottsdale
2. Fountain Hills
3. Glendale
4. Avondale
5. Gilbert
6. Phoenix
7. Mesa
8. Paradise Valley
9. Scottsdale
10. Peoria
11. Tempe
12. Cave Creek
13. Surprise
14. Goodyear
15. Queen Creek
16. Maricopa
17. Buckeye – Balanced

Escape to Flagstaff and Your New Summer Home

Located just two hours north of Phoenix, Flagstaff, Arizona, is a vibrant city with diverse activities. Highlights include the iconic Lowell Observatory, offering telescope stargazing and cosmic exploration. Nature lovers can enjoy the nearby Coconino National Forest for hiking, biking, and camping. Adventure seekers can try thrilling whitewater rafting or zip-lining among the Ponderosa pines. Flagstaff’s downtown is known for its art, shops, and restaurants. With breathtaking views, clean air, and a community of outdoor enthusiasts, owning a home in Flagstaff is a dream. Explore housing options and premier golf communities to enhance your life in this enchanting city. Contact me for more information or to find your dream mountain home.

Why Choose a Boutique Real Estate Firm: Personalization, Trust, and Success

Boutique real estate firms like Silverleaf Realty are meeting consumer demands for personalized service, offering unique experiences, and building a sense of community. Unlike national chains, these firms are better equipped to provide tailored services, making them more appealing to customers.

Consumers are increasingly drawn to businesses that offer highly personalized services. Boutique real estate firms excel in this area, providing the bespoke experiences that customers crave. The local ownership and distinct branding of these firms allow them to create a unique culture and sense of belonging that national chains struggle to match.

Boutique real estate companies prioritize hiring top-quality agents to enhance the reputation of everyone involved. Boutique firms can achieve high transaction volume without compromising personalized service. Silverleaf Realty, for example, closed over $500 million in volume last year as a boutique firm. This demonstrates that boutique real estate firms can successfully combine personalization with exceptional results.

Your best decision is to choose Silverleaf Realty for an exceptional experience.

Contact me to learn more about my personalized service – my goal is to offer a luxury experience for every client.

City of Scottsdale Water Saving Landscape Ordinance

The Scottsdale City Council is making major strides in its efforts of enhancing the city’s water conservation by passing an ordinance (4606) to limit water-intensive landscapes in new single-family homes constructed or permitted after August 15. Natural grass in front yards will be prohibited. The measure is supported by the City Council and reflects Scottsdale’s commitment to water conservation with Colorado Basin Municipal and Public Water Providers with feedback from customers showing 86% support. This move complements existing rebate programs and aims to lead in water conservation. In 2023, Scottsdale set out to reduce municipal water use by at least 5% and asked residents and businesses to do the same. In the first six months, the results were city operations reducing use by 9% and residents/businesses by 7%, saving 657 million gallons. This is impressive and as Scottsdale Water executive director Brian Biesemeyer stated “When we all work together to save a little, the totals can be quite amazing.”