JON MIRMELLI REAL ESTATE GROUP
MARKET UPDATE
January 2024
Just Listed STONEGATE
11207 E Palomino Rd | Scottsdale, AZ 85259 $2,195,000 - See back for details
E GROU AT
Jon Mirmelli 602.300.1900
JM
AL ES T RE
PRESENTED BY
JON M MELLI IR
P
Inventory and closed sales down as we wrap-up 2023. As of 12/18, there were 11,951 active and coming soon listings in our MLS system within Maricopa County, a decrease of 5% over the past 30 days, 4,730 homes were under contract, virtually unchanged over the same period, and closed sales over the past 30 days were 3,547, down 17% from the prior months activity. A slowdown in listings and closings is somewhat typical under normal market conditions as families focus their attention on the holiday festivities, but look for an uptick in both listings and homes going under contract after the New Year as attention shifts to new housing decisions for both for Buyers & Sellers. The chart to the right helps validate the seasonal listing pattern over the past 5 years in Maricopa County with new listings just about doubling in January vs. December.
Treasury yields slide and help bring residential mortgage rates down below 7% Over the past 30 days, the Federal treasury yields have continued to fall bringing the average 30 year mortgage rates below 7%, down from a high that just a couple months ago approached 8%. The reduced mortgage rates should bring more buyers to the table in 2024 as our second home market and new family move decisions start to kick-in.
Happy New Year to all and let’s make 2024 a great year together We hope you find this market update helpful and informative. Rebecca and I are thankful for your trust and continued referrals of friends and family. We are anticipating a busy start to 2024 and are working on great new listings and new buyer relocations to Metro Phoenix.
All the best, Jon Mirmelli & Rebecca Ponte
10/17/23 – 11/17/23
VS. DEC. 2023 11/17/23 – 12/17/23
# OF CLOSED LISTINGS
CAVE CREEK/CAREFREE`
Jon Mirmelli Real Estate Group
AVERAGE SOLD PRICE
AVERAGE SALE/ LIST PRICE
AVERAGE $/SQFT
AVERAGE DOM
85331
42
28
$1,097,536
$978,877
97%
97%
$408.98
$360.07
85266
30
26
$1,425,912
$1,509,192
96%
95%
$453.16
$454.74
85255 85254 85260 85259 85258 85250 85251 85257
83 94 44 21 70 36 88 32
59 69 38 25 62 35 63 25
$1,787,946 $977,464 $831,671 $1,428,569 $991,453 $740,984 $978,827 $553,070
$2,101,817 $840,305 $1,340,261 $1,195,080 $847,951 $709,859 $654,529 $521,516
97% 98% 97% 97% 97% 98% 98% 98%
97% 98% 98% 97% 98% 98% 97% 97%
$526.07 $433.99 $403.80 $414.56 $451.39 $379.83 $485.03 $360.27
$564.71 $388.41 $444.95 $404.38 $439.24 $399.25 $390.64 $345.42
SCOTTSDALE
HOMES RECENTLY SOLD
NOV. 2023
ZIP
JM
PRESENTED BY
AL ES T RE
CLOSED
E GROU AT
MARKET WATCH 85262
42
FOUNTAIN HILLS
39
$2,300,418
$2,030,177
97%
95%
$586.22
JON M MELLI IR
P
54
68
66
80
$512.58
103
135
61 52 59 51 58 66 60 47
52 58 57 75 43 47 74 86
85268
43
44
$969,375
$812,368
97%
98%
$389.19
$368.14
68
62
85253
31
23
$3,910,306
$3,426,587
97%
95%
$762.12
$786.00
69
80
85028 85016 85018
19 33 52
13 35 35
$766,087 $701,452 $1,449,705
$781,692 $879,359 $1,468,911
98% 98% 97%
97% 98% 97%
$349.91 $386.77 $526.58
$370.27 $390.37 $524.25
40 62 54
51 58 124
PARADISE VALLEY
PHOENIX/ARCADIA/BILTMORE
ZIP CODE MAP
28
SCOTTSDALE
39
26
homes closed
homes closed
homes closed
59
homes closed
69
homes closed
38
homes closed
25
homes closed
62
13
homes closed
homes closed
23
homes closed
35
homes closed
44
homes closed
35
homes closed
35
homes closed
63
homes closed
25
homes closed
The properties on this list have been listed/sold by various members of the MLS. If your home is currently listed, this is not a solicitation for that listing. Data reported is based upon sales information provided by the MLS as of December 17, 2023. Data deemed to be reliable but not guaranteed. Each office is independently owned and operated.
LISTED
MARKET
WATCH
PRESENTED BY
Jon Mirmelli Real Estate Group
Jon Mirmelli Real Estate Group - Active, Pending, Closed
Need help selling your existing home or looking to buy? Please call Jon today! Referrals always appreciated. JUST
11207 E Palomino Rd Scottsdale, AZ 85259
LISTED
6 Beds | 4.5 Baths | 4,590 SQFT Offered at $2,195,000 Rare opportunity to live in the guard gated Stonegate community with custom home situated on a large cul-de-sac lot with N/S exposure.
Stonegate UNDER
Ames Ranch
UNDER
UNDER
CLOSED
CONTRACT
10805 N 85th PL 1 Scottsdale, AZ 85260 3.95 Acres | $4,000,000
CONTRACT
Phoenix
Heartland Acres 11880 N 98th St Scottsdale, AZ 85260 6 Beds | 4 Baths | 4,289 SQFT | $3,300,000
7833 S 36th ST Phoenix, AZ 85042 5.49 Acres | $3,000,000 CLOSED
ACTIVE
CONTRACT
Happy Valley Ranch
Mcdowell Mountain Ranch
8628 E Remuda Dr Scottsdale, AZ 85255 4 Beds | 4.5 Baths | 4,278 SQFT | $2,850,000
10624 E Firewheel Dr Scottsdale, AZ 85255 5 Beds | 2.5 Baths | 2,604 SQFT | $1,049,500
UNDER
Firerock Country Club 9115 N Vista Verde Ct 7 Fountain Hills, AZ 85268 1.89 Acres | $1,000,000
UNDER
CONTRACT
CLOSED
CONTRACT
The Springs
Stonegate
Villages At Aviano
9155 N 117 Way Scottsdale, AZ 85259 4 Beds | 2.5 Baths | 2,752 SQFT | $8,000
If your home is currently listed, this is not a solicitation for that listing.
E GROU AT
Rebecca Ponte | 602.390.7096
P
JON M
JM
MELLI IR
Jon Mirmelli Real Estate Group
3935 E Rough Rider Rd 1149 Phoenix, AZ 85050 3 Beds | 2.5 Baths | 1,575 SQFT | $2,300
th
AL ES T RE
11810 N 40 Pl Phoenix, AZ 85028 3 Beds | 2 Baths | 1,758 SQFT | $699,900 th
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