North Scottsdale, Arizona., has long been synonymous with luxury living. Boasting breathtaking mountain views, world-class golf courses, and a vibrant social scene, this desirable area continues to attract discerning buyers seeking an exceptional lifestyle. From sprawling estates nestled in the scenic desert landscape to contemporary architectural marvels boasting cutting-edge design, the luxury real estate scene in North Scottsdale has something to offer for every taste and preference.
The luxury real estate market in North Scottsdale continues to thrive in 2024, offering discerning buyers an unparalleled array of upscale properties and amenities. In this blog, we'll delve into the latest trends, developments, and opportunities shaping the luxury real estate market in North Scottsdale.
Latest real estate trends in North Scottsdale
As of spring 2024, the median sales price in North Scottsdale has surpassed $1 million, increasing about 15% year-over-year. For sellers and property owners, these figures represent a stark improvement from 2019, when North Scottsdale homes sold for a median price of less than $800,000.
Inventory is robust, with over 1,000 properties publicly listed. A broad range of residences is available: asking prices start in the low-$200,000s and extend beyond $50 million. It’s vital to work with a knowledgeable and well-connected real estate agent who can help you hone in on luxury properties that meet your specific needs (some of these may be available off-market).
After a brief winter lull, sales volume has begun to rebound. The current market is lukewarm, but we expect market activity to accelerate as we progress through 2024. Homes typically spend about two months on the market. However, the most in-demand homes regularly sell in less than a month.
Inventory is robust, with over 1,000 properties publicly listed. A broad range of residences is available: asking prices start in the low-$200,000s and extend beyond $50 million. It’s vital to work with a knowledgeable and well-connected real estate agent who can help you hone in on luxury properties that meet your specific needs (some of these may be available off-market).
After a brief winter lull, sales volume has begun to rebound. The current market is lukewarm, but we expect market activity to accelerate as we progress through 2024. Homes typically spend about two months on the market. However, the most in-demand homes regularly sell in less than a month.
Market dynamics
The North Scottsdale luxury real estate market in 2024 continues to exhibit positive signs.
Here's a breakdown of key factors influencing the market:
Here's a breakdown of key factors influencing the market:
- Balanced market: Demand for luxury real estate in North Scottsdale remains strong, fueled by various factors. The sale-to-list price ratio is slightly less than 100%. There are about as many properties listed for purchase as there are listed for rent.
- Healthy inventory: Per MLS, North Scottsdale has over 1,000 properties listed for sale. The ultra-luxury market is robust — the top 5% most expensive properties in North Scottsdale are priced at $6.3 million and above. With steady demand, the North Scottsdale real estate market has the potential to heat up in the remainder of 2024.
- Appreciation potential: Historically, luxury real estate in North Scottsdale has shown consistent appreciation. While past performance does not guarantee future results, the area's strong fundamentals suggest continued value growth for luxury properties.
Luxury amenities and lifestyle offerings
North Scottsdale luxury real estate is synonymous with world-class amenities and lifestyle offerings. Residents of upscale communities enjoy a wealth of amenities, including championship golf courses, private clubhouses, exclusive dining venues, and state-of-the-art fitness centers. Many luxury properties also boast stunning desert views, meticulously landscaped grounds, and proximity to hiking trails and outdoor recreational opportunities, allowing residents to fully immerse themselves in the natural beauty of the Sonoran Desert.
Exclusive communities and neighborhoods
North Scottsdale is home to many exclusive communities and neighborhoods catering to luxury homebuyers.
Silverleaf at DC Ranch
Silverleaf at DC Ranch is an exclusive luxury community within the prestigious DC Ranch master-planned development in North Scottsdale. Renowned for its breathtaking views of the McDowell Mountains and the Sonoran Desert, Silverleaf features custom-built homes designed by some of the region's most esteemed architects, showcasing diverse architectural styles, from Mediterranean-inspired villas to contemporary estates. Residents enjoy a private country club with a championship golf course, resort-style pools, fitness centers, and fine dining establishments.
Desert Highlands
Desert Highlands is a prestigious gated community located in the foothills of the Sonoran Desert. Known for its championship golf course designed by Jack Nicklaus, Desert Highlands is a haven for golf enthusiasts seeking a world-class golfing experience. In addition to its acclaimed golf course, the neighborhood boasts an array of luxury amenities, including a spacious clubhouse, state-of-the-art fitness center, tennis courts, and a resort-style pool. With its serene desert landscapes, upscale amenities, and unparalleled golfing opportunities, Desert Highlands is an ideal destination for those seeking an exclusive desert retreat in North Scottsdale.
Estancia
Nestled within the scenic foothills of Pinnacle Peak, Estancia is a premier luxury community renowned for its timeless elegance, privacy, and panoramic views of the surrounding desert landscape. The neighborhood features custom-built homes crafted by top architects and builders, each showcasing exquisite craftsmanship and attention to detail. Residents of Estancia enjoy access to a wealth of amenities, including a Tom Fazio-designed championship golf course, a lavish clubhouse with fine dining options, tennis courts, and a state-of-the-art fitness center.
Troon North
Known for its two award-winning golf courses, Troon North Golf Club is a golfer's paradise, featuring meticulously manicured fairways, challenging desert terrain, and stunning mountain vistas. The community offers a variety of residential options, including custom-built homes, luxury townhomes, and expansive estates, catering to a diverse range of lifestyles and preferences.
Investing in luxury real estate
For investors looking to capitalize on the robust luxury real estate market in North Scottsdale, there are plenty of opportunities to consider. Still, entering the North Scottsdale luxury real estate market requires careful planning and expert guidance.
Here are some essential factors to consider:
- Clearly define your needs: Determine your must-have features, desired location, and budget before starting your search. Prioritize the amenities most important to you, whether it's a swimming pool, a home theater, or proximity to specific golf courses.
- Partner with a knowledgeable agent: A real estate agent specializing in North Scottsdale luxury properties possesses deep market knowledge and can navigate the complexities of the buying process. Their expertise ensures you find a property that aligns perfectly with your needs and preferences.
- Be prepared to move quickly: In a competitive market, speed is crucial. Partnering with a responsive agent allows you to act swiftly when a desirable property becomes available.
With demand for upscale properties remaining strong and a steady influx of high-net-worth individuals seeking second homes or investment properties, North Scottsdale offers a favorable environment for real estate investment. Whether you're interested in purchasing a luxury vacation home, rental property, or long-term investment, North Scottsdale's diverse market offers plenty of potential for growth and profitability.
The Rider Elite Team is your gateway to North Scottsdale
North Scottsdale's luxury real estate market offers many opportunities for buyers, sellers, and investors. With its diverse array of upscale properties, exclusive communities, and luxurious amenities, North Scottsdale remains a sought-after destination for those seeking a truly elevated lifestyle.
Whether you're in the market for a sprawling desert estate, a contemporary architectural masterpiece, or a luxury vacation home, North Scottsdale has something to offer everyone. Search homes for sale in North Scottsdale here.
Reach out to The Rider Elite Team today to explore your options and embark on your journey to luxury living in North Scottsdale.
*Header photo courtesy of The Rider Elite Team
Whether you're in the market for a sprawling desert estate, a contemporary architectural masterpiece, or a luxury vacation home, North Scottsdale has something to offer everyone. Search homes for sale in North Scottsdale here.
Reach out to The Rider Elite Team today to explore your options and embark on your journey to luxury living in North Scottsdale.
*Header photo courtesy of The Rider Elite Team
