Residential Focus by Fletcher Wilcox V.P. Grand Canyon Title Agency, Inc.
FWilcox@GCTA.com 602-648-1230
Residential Focus: The Newsletter with the Trends!
Scottsdale Single Family Home Sales
July 2009
Data from ARMLS
By
Fletcher Wilcox
V.P. Business Development
Grand Canyon Title Agency, Inc.
FWilcox@gcta.com 602-648-1230
Single family home sales in Scottsdale for July continued to be hot. July
2009 was the second best month this year for the number of single family
home sales.
July 2009 single family homes sales were 399 or 51% more than the 265
sales in July 2008. The 399 sales in July 2009 were down 6% from the 426
single family sales in June 2009.
On the downside is the mean sales price per square foot. CHART 2 shows it
was $167.42 in July 2009. This is down 11% compared to January 2009
when it was $187.62. Comparing July 2009 to July 2008 the mean sales
price per square foot is down 22% percent or $46.38.
Residential Focus by Fletcher Wilcox V.P. Grand Canyon Title Agency, Inc.
FWilcox@GCTA.com 602-648-1230
Driving down the mean sales price per square foot are sales of lender owned
properties and short sales. CHART 3 shows the July mean sales price per
square foot for lender owned properties at $138.96 compared to $189.12 for
those single family sales that had no special listing conditions.
Table 1 gives a synopsis of July single family home sales by sold price
range, the estimated months of supply, and the percentage of short sales and
lender owned sales by sold price range. Short sales accounted for 14% of
sales while lender owned sales were 32%. So almost half or 46% of single
family home sales were distressed sales (14% + 32% = 46%).
CHART 1
Scottsdale Single Family Home Sales
by Month
Data from ARMLS
265
170 191
245
309
350
426
399
0
100
200
300
400
500
Jul-08 Jan-09 Feb March April May June July
CHART 2
Scottsdale Single Family
Mean Sales Price Per Sq. Ft.
Data from ARMLS
$213.80
$187.62 $185.65 $183.49 $181.80 $175.36 $169.93 $167.42
$0.00
$50.00
$100.00
$150.00
$200.00
$250.00
Jul-08 Jan-09 Feb March April May June July
Residential Focus by Fletcher Wilcox V.P. Grand Canyon Title Agency, Inc.
FWilcox@GCTA.com 602-648-1230
CHART 3
Scottsdale Single Family
July Mean Price Per Sq. Ft. by Listing Condition
Data from ARMLS
$138.96
$156.91
$189.12
$0.00
$50.00
$100.00
$150.00
$200.00
No Special
Lender Owned Short Sale Listing Condition
Table 1
July 2009 Scottsdale Single Family Homes Sales Only
Residential Sold Price
Range Sales
Active
Listings
on
August
11,
2009
Estimated
Months of
Supply
Mean Price
Per Sq. Ft.
Short
Sales
(No.)
Short
Sales
(%)
Lender-
Owned
Sales
(No.)
Lender-
Owned
Sales (
%)
Other
Sales
(No.)
Other
Sales
(%) Total
Under 250,000 80 134 1.7 $122.33 12 15% 33 41% 35 44% 100%
250,000 to 299,999 36 110 3.1 $145.65 4 11% 14 39% 18 50% 100%
300,000 to 349,999 46 108 2.3 $149.48 1 2% 18 39% 27 59% 100%
350,000 to 399,999 35 161 4.6 $148.77 6 17% 13 37% 16 46% 100%
400,000 to 499,999 40 267 6.7 $163.48 5 13% 14 35% 21 53% 101%
500,000 to 599,999 51 275 5.4 $171.98 6 12% 13 25% 32 63% 100%
600,000 to 699,999 40 232 5.8 $186.22 10 25% 8 20% 22 55% 100%
700,000 to 799,999 10 180 18.0 $186.63 2 20% 4 40% 4 40% 100%
800,000 to 899,999 15 159 10.6 $198.06 4 27% 2 13% 9 60% 100%
900,000 to 999,999 7 153 21.9 $237.50 0 0% 0 0% 7 100% 100%
1,000,000 to 1,499,999 25 378 15.1 $251.07 4 16% 5 20% 16 64% 100%
1,500,000 to 1,999,999 8 241 30.1 $293.45 2 25% 1 13% 5 63% 100%
2,000,000 to 2,999,999 5 231 46.2 $337.72 0 0% 1 20% 4 80% 100%
Over 3,000,000 1 154 154.0 $343.43 0 0% 0 0% 1 100% 100%
TOTAL 399 2,783 6.9 $167.78 56 14% 126 32% 217 54% 100%
Note: Percentages may add up to 99% or 101% because of rounding of numbers.
Residential Focus by Fletcher Wilcox V.P. Grand Canyon Title Agency, Inc.
FWilcox@GCTA.com 602-648-1230
Please contact me with your feedback and comments. And remember Grand
Canyon Title Agency, Inc. on your next short sale or normal sale. It would
be much appreciated! Contact me for an introduction to one of our escrow
officers.
Fletcher Wilcox
V.P. Grand Canyon Title Agency, Inc.
FWilcox@GCTA.Com 602-648-1230
Class on Foreclosure and Short Sales for three legal hours!
Learn about the foreclosure process, the new anti-deficiency law and
discuss short sale contract scenarios, financing of lender owned
properties and short sales and more.
Date: Thursday, August 20th from 1:00 p.m. to 4:00 pm
Where: Grand Canyon Title Agency, Inc. –Pinnacle Peak Office
7308 E. Deer Valley Rd., Ste. 110
Scottsdale, 85255
Must RSVP to Kas@gcta.com or CROE@gcta.com
Cost is $5.00 at door. Seating is limited.
Residential Focus does not guarantee the accuracy of the data in this report. Some
numbers will adjusted. Report may not reflect all real estate activity. Information
should be verified. This article is of a general nature, and is not intended as legal,
real estate or lending advice. Please consult your broker, your lender and your own
independent legal counsel. The information in this report may not be the opinion of
of Grand Canyon Title Agency, Inc.
Residential Focus by Fletcher Wilcox V.P. Grand Canyon Title Agency, Inc.
FWilcox@GCTA.com 602-648-1230
Residential Focus
By
Fletcher Wilcox
V. P. Business Development for Grand Canyon Title Agency, Inc.
Fwilcox@gcta.com 602.648-1230
• Fletcher is proud to be a part of Grand Canyon Title Agency, Inc. The company has been closing
escrows in the Valley for twenty-six years and has sixteen escrow offices in the Valley.
• Born and raised in Arizona, Fletcher remained in the state to receive his Bachelor of Science
degree and a Master of Arts degree from Arizona State University.
• Obtained an Arizona Real Estate license in 1985. Co-listed and closed a $2.5 million dollar
commercial property in 1986.
• Is a member of the Arizona Association of Realtors www.AAROnline.com and the Scottsdale
Area Association of Realtors www.SAAROnline.com. Is a director on the Arizona Mortgage
Lenders Association Board www.azmortgagelenders.com/ and a member of the Arizona State
Escrow Association http://www.azsea.org/
• Is the statistician for the Scottsdale Luxury Tour and
http://www.saaronline.com/marketing/scottsdale.php
• Is the publicity coordinator and statistician for the Heart of Scottsdale Tour
http://www.saaronline.com/marketing/scottsdale.php
• Fletcher speaks throughout the Valley on residential real estate trends. He produces the email
newsletter Residential Focus, which focuses on the residential market. He is a contributing
Columnist for the Arizona Journal of Real Estate & Business; Teaches renewal courses on the
Residential Resale Real Estate Purchase Contract, FHA contract writing, short sales and
foreclosures at the Arizona School of Real Estate & Business.
• 2008 marked the third time Fletcher chaired the Industry Partners Conference. This real estate
conference is a partnership involving the Arizona Association of REALTORS, the Arizona
Mortgage Lenders Association and the Arizona State Escrow Association.
• To promote music and the arts Fletcher joined Alice Cooper’s Solid Rock organization as a board
member. The goal is to build a music and arts center.
• For eleven years served as a citizen board member on the Phoenix Police Department’s
Disciplinary Review & Use of Force Boards.
• Fletcher started snowboarding in 2008 going on six trips. He is not very good.D