Mortgage rates up
but much lower than the peak of October 2023
As of 3/22, the average 30 year mortgage rate was 6.87%, .27 basis points from January’s mark, but down almost 100 basis points from the high point just 5 months ago. The Fed keeps talking about rate reductions, but they have not yet occurred. With more people coming to AZ than leaving, buyers are purchasing with plans to refi down the road as they anticipate future real estate price increases and buyer demand rising when mortgage rates are lower.
Special shout out
to Jon's oldest daughter, Bailey Mirmelli
In December, Bailey signed with the Army under the Health Professions Scholarship Program. She gave that path a lot of thought and we’re just proud of her making this choice. Jon's grandfather who served in WW II would be proud and we are confident she will receive many benefits and rewards serving our Country.
We hope you find this market update helpful and informative. We are proud and thankful that 100% of our business comes from our past clients and referrals. We are currently representing many clients selling and buying with very nice listings coming to market and spending a lot of time researching the options for clients relocating to Arizona. Please call on us if you would like to get an in person updated market analysis, etc.
All the best,
Jon Mirmelli & Rebecca Ponte
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 March 17, 2024. Data deemed to be reliable but not guaranteed. Each office is independently owned and operated. PRESENTED BY Jon Mirmelli Real Estate Group JONMIRM E ILL LAER ETATSE G ROUPJ M CLOSED HOMES RECENTLY SOLD MAR. 2024 2/17/24 –3/17/24 46 homes closed 60 homes closed 74 homes closed 28 homes closed 86 homes closed 53 homes closed 72 homes closed 40 homes closed 55 homes closed 90 homes closed 44 homes closed 33 homes closed 28 homes closed ZIP CODE MAP SCOTTSDALE MARKET
31 homes closed 22 homes closed 49 homes closed ZIP # OF CLOSED LISTINGS AVERAGE SOLD PRICE AVERAGE SALE/ LIST PRICE AVERAGE $/SQFT AVERAGE DOM CAVE CREEK/CAREFREE` 85331 32 49 $869,606 $1,115,103 97% 97% $339.50 $400.45 91 83 SCOTTSDALE 85266 24 33 $1,313,412 $1,298,910 97% 97% $473.80 $474.24 69 66 85262 53 44 $1,699,145 $2,233,690 97% 99% $462.40 $586.25 101 160 85255 68 90 $1,572,434 $1,675,657 98% 98% $530.42 $499.84 80 75 85254 67 86 $910,348 $971,118 98% 98% $432.88 $415.22 65 58 85260 49 53 $862,789 $976,850 98% 97% $380.14 $404.09 63 61 85259 27 40 $966,537 $1,342,485 96% 98% $378.86 $426.13 57 68 85258 59 72 $939,318 $1,003,499 98% 97% $441.10 $452.63 57 47 85250 22 28 $808,700 $642,473 97% 98% $420.97 $398.51 70 60 85251 67 74 $825,483 $894,080 97% 97% $432.96 $442.12 70 73 85257 40 31 $526,394 $491,299 98% 97% $355.34 $338.13 63 85 FOUNTAIN HILLS 85268 55 55 $825,213 $902,879 98% 97% $363.07 $375.65 72 64 PARADISE VALLEY 85253 37 28 $3,174,812 $3,749,446 96% 95% $710.00 $783.31 78 84 PHOENIX/ARCADIA/BILTMORE 85028 22 22 $891,544 $612,713 98% 99% $383.44 $361.99 39 74 85016 42 46 $963,547 $890,733 96% 96% $413.08 $414.38 82 117 85018 47 60 $1,322,055 $1,422,352 96% 97% $521.10 $528.92 65 48 FEB. 2024 1/17/24 –2/17/24 VS.
WATCH
Scottsdale
10624
Rare opportunity to purchase this completely remodeled home with luxurious finishes inside and out. Home was completely remodeled in 2022 with licensed contractors and equipped with luxurious furnishings and decor. Enjoy breathtaking views of the Camelback & Papago mountains from this spacious 4 bedroom house with 2 master suites. Convenient Scottsdale location minutes from Old Town Scottsdale, Arizona Country Club, ASU, Airport and easy access to HWY 202 & 101. Home does not have any HOA fees and can be used as a short-term rental.
1903 E Loyola Dr Tempe, AZ 85282 3 Beds | 2 Baths | 1,840 SF | $539,500 Tempe 4116 E Cortez St Phoenix, AZ 85028 3 Beds | 2 Baths | 1,980 SF | $685,000 The Springs MARKET WATCH PRESENTED BY Jon Mirmelli Real Estate Group LISTED JONMIRM E ILL LAER ETATSE G ROUPJ M 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. 6669 E Oberlin Way Scottsdale, AZ 85266 4 Beds | 4.5 Baths | 3,801 SQFT | $2,300,000 Scottsdale 10805 N 85th PL 1 Scottsdale, AZ 85260 3.95 Acres | $3,775,000 Ames Ranch 9799 N 130th St Scottsdale, AZ 85259
Beds | 5 Baths | 5,305 SF | $2,295,000 Scottsdale UNDER CONTRACT 2602 N 66th St Scottsdale, AZ 85257 4 Beds | 3 Baths | 2,191 SQFT Offered at $1,095,000 Also Offered For Rent $5,995/mo 12-month lease 5350 E Deer Valley Dr 4269 Phoenix, AZ 85054 2 Beds | 2 Baths | 1,246 SF | $559,500 Phoenix 11207 E Palomino Rd Scottsdale, AZ 85259 6 Beds | 4.5 Baths | 4,590 SF | $2,195,000 5037 E Clarendon Ave Phoenix, AZ 85018 6 Beds | 4.5 Baths | 3,927 SF | $2,115,000
N Scottsdale Rd C3006 Paradise Valley, AZ 85253 2 Beds | 2.5 Baths | 2,353 SF | $2,100,000 Stonegate Phoenix Paradise Valley
6
6166
E Firewheel Dr Scottsdale, AZ 85255
Beds | 2.5 Baths | 2,604 SF | $1,025,000 Mcdowell Mountain Ranch
5
CLOSED CLOSED CLOSED UNDER CONTRACT CLOSED CLOSED ACTIVE ACTIVE UNDER CONTRACT
ACTIVE Jon Mirmelli Real Estate Group Jon Mirmelli | 602.300.1900 If your home is currently listed, this is not a solicitation for that listing. Produced by Prime Source & DLP • 480.921.0511 • PrimeSourceAZ.com