A rainy day yesterday. The first in many many months. So things look a little brighter & cleaner today.

Mortgage rates giving some hope to borrowers last few weeks. Freddie sitting around 6.6% for 30 year fixed. Stocks could bring a little uncertainty for luxury buyers.We will see how it all plays out, for now the market is doing great.

Just Sold | Mountain views in PV | $2,712,500

WHERE: 7702 N Moonlight Lane, Paradise Valley
SOLD: $2,712,500

PS This screencap is from LinkedIN. The best way to keep up with me on social media because it's the most business. Follow me here.

Just Sold | Desert Ridge | $867,500

These clients we first met in 2017. We sold a big estate in Pinnacle Peak. And helped them buy this adorable home in Desert Ridge for a perfect downsize. It was lovely to reconnect with them when they were ready to sell. A home they had beautifully maintained and really enjoyed. The buyer picked up a sweet sweet place.

WHERE:
SOLD: $867,500

Off Market Properties

We continue to have a lot of off market properties, Priced from $1,500,000 to over $15,000,000. Most of these properties are ones the owners wish to sell but not yet listing on MLS.

Areas of town are mainly Paradise Valley & North Scottsdale. Mountainside homes, golf communities etc. Paradise Valley Views, Silverleaf, DC Ranch, Windgate Ranch & Mirabel Club. Reach out if your looking but can't find anything on the MLS. Marta - 480-274-5710

Market Stats

Cromford Daily Observation Mar 5 -

The affidavits of value have been counted and analyzed for Maricopa County's January filings and here is what we found:

• There were 6,000 closed transactions, up 1.1% from 5,933 in February 2024 and up 18% from January.
• There were 1,283 closed new homes, down 4.6% from 1,345 in February 2024 but up 13% from January.
• There were 4,717 closed resale transactions, up 2.8% from 4,588 in February 2024 and up 20% from January.
• The overall median sales price in February was $488,613, up 4.6% from February 2024 and up 0.7% from January.
• The new home median sales price was $530,000, up 2.7% from February 2024 but down 2.7% from January.
• The resale median sales price was $470,000, up 4.4% from February 2024 and up 2.2% from January.

Since February 2024 and February 2025 had a different number of working days (20 in 2025 and 21 in 2024), we should make adjustments in interpreting the closing numbers. The 2025 closed transaction counts should be increased by 5% to make a fair comparison.

Once again the top of the market is keeping both volumes and prices above where we might expect. This effect was not quite as strong in February as the volume in the mid-range recovered from the seasonal low point.

New home market share fell again in February to 21.4%, and this is down from 22.7% a year ago.

These numbers are for single family and townhouse / condo homes.

Our take

Luxury market currently cares very little about fundamentals or interest rates. It's chugging along just fine. And we are OK with that.

Interiors

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5 Designer tricks for Spring staging.

In The Neighborhood

Info on the future plans for Scottsdale airport.

More news on proposed Axon development.

Celebrity Chef restaurants in Phoenix.

Real estate commission rules haven't had much impact.
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That's it folks. Have an amazing weekend.