Exclusive Insights: The Noble Agency's 2024 Guide to Arizona’s Luxury Real Estate Market

INSIDER

Foundation Of Excellence

At The Noble Agency, we were founded with a steadfast commitment to providing unparalleled real estate services in Arizona and beyond. Our team of experienced advisors have a deep understanding of the needs and desires of discerning buyers and sellers who seek a higher level of expertise, attention to detail and deep market knowledge. Their unwavering dedication to integrity and discretion, and to delivering a personalized, seamless experience is second to none. It is this foundation that has established us as thought leaders in the industry and what continues to drive our success and the success of our clients year after year.

MONICA MONSON

Scottsdale, Paradise Valley and the surrounding cities have always been a beacon for luxury living, and 2024 is no exception. The current market is characterized by a diverse portfolio of high-end properties, from modern architectural marvels to sprawling estates that offer privacy and exclusivity. There is a strong focus on experiential living with multi-use spaces, at-home activities and a renewed desire for a sense of community. Demand remains steady, driven by the area’s world-class amenities, including premier golf courses, upscale shopping, and a vibrant arts scene.

The real estate industry is evolving including the integration of AI into real estate best practices. A deeper level of analytics and predictive modeling have enhanced our ability to forecast trends, ensuring you can make informed decisions with confidence. Property matchmaking services and virtual technologies provide a seamless, personalized experience, allowing you to envision your future with unprecedented clarity and convenience.

As our market vibrancy ebbs and flows, we are experiencing a greater need for public education about the value of experienced real estate advisors and the importance of their representation of buyers and sellers, especially when it comes to contingency timelines and minimizing risk throughout the transaction. The Noble Agency brings highly skilled professionals directly to you, helping guide you with unparalleled expertise through the intricacies of buying or selling your largest residential investments.

LETTER FROM THE CEO

With much gratitude and integrity,

Monica Monson Founder + CEO, Designated Broker The Noble Agency

Desert Oasis: The Enduring Appeal of The Valley’s Luxury Market

LUXURY REAL ESTATE IN THE VALLEY

Despite a slight slowdown in Arizona’s population growth, the state continues to attract new residents, with an impressive average of 210 people moving here daily. This influx has kept Arizona among the top 10 states for population growth. In the heart of this expansion is the Greater Phoenix area, where the luxury real estate market has demonstrated remarkable resilience.

While the overall real estate market in Greater Phoenix experienced a 17% decline, the luxury sector only saw a modest 5% decrease in sales year over year. This subtle dip contrasts sharply with the broader market’s trends, highlighting the enduring appeal and stability of high-end properties in the Valley.

A particularly striking aspect of this sector’s performance is the surge in ultra-luxury transactions. Sales of homes priced at $10 million and above have increased by a

significant 17%, a clear indication of robust demand at the highest end of the market.

Additionally, the luxury real estate market in the Valley has become more valueable evidenced by a 4.2% increase in price per square foot over the past year. This growth is not just a testament to the area’s desirability but also reflects the high quality of properties available.

Looking ahead, projections suggest that the luxury market in Greater Phoenix will continue to strengthen. This forecast is buoyed by the area’s ongoing population growth, the sustained interest in top-tier properties, and the overall health of the market. For discerning buyers and investors, Greater Phoenix remains a prime destination for luxury real estate, offering both quality and value in a dynamic and growing region.

L U X U R Y S N A P S H O T

A deeper dive into some of the Valley’s top cities for luxury real estate.

LUXURY NEIGHBORHOODS TO WATCH

A detailed look into some of the top communities in the North Valley.

BELL RD SCOTTSDALERD

SCOTTSDALE

CAVE CREEK / CAREFREE SHEABLVD

PIMARD PINNACLEPEAKRD

LUXURY NEIGHBORHOODS TO WATCH

A detailed look into some of the top communities in the South Valley.

CAVE CREEK / CAREFREE

SCOTTSDALERD

PINNACLEPEAKRD

BELL RD

SCOTTSDALE

SHEABLVD

PARADISE VALLEY

PIMARD

A GLOBAL REACH ACROSS THE WORLD WITH

NETWORK

At The Noble Agency, we blend the personal, attentive service of a local bespoke real estate firm with the power of our global network offices and advisors. Our elite membership in Who’s Who in Luxury Real Estate and REALM Global allows us to provide maximum exposure for our sellers ensuring our listings shine on the international stage. When buying across the country or internationally, our clients can confidently invest knowing they are working with the world’s top professionals.

600+ MEMBERS

World-class real estate professionals hand-selected across the globe. Membersonly access to listings, experiences, and resources.

39+ STATES

Access to real estate professionals who represent 150+ different brands from around the world .

16+ COUNTRIES

REALM members represent the top 1% of real estate professionals globally.

130k MEMBERS

A compendium of the finest residential real estate firms from around the world.

#1 PORTAL

The leading portal for luxury properties online, presenting more multi-milliondollar estates than any near-peer.

70+ COUNTRIES

Properties in more than 70 countries collectively selling over $300 billion of real estate annually.

CONVERGING HORIZONS

THE

ARTISTIC JOURNEY OF VINCENT DE SARTHE

D E S A R T H E

DE SARTHE GALLERY

7507 E McDonald Drive, #1a Scottsdale, AZ 85250

In the radiant landscapes of Scottsdale, Arizona, where the history of the American frontier is ever-present, there exists a hub of artistic innovation and cultural dialogue known as de Sarthe. This art gallery, led by Vincent de Sarthe, stands as a monument to creativity and the exchange of ideas, reflecting the adventurous spirit of its locale while focusing on the exploration of art and cross-cultural conversations.

The de Sarthe family embarked on their art journey in Paris during the late 1970s, initially inspired by French Impressionism. Their path spanned continents, moving through the art-centric cities of San Francisco and Los Angeles and extending to Hong Kong's vibrant southside art district before establishing their latest gallery in Scottsdale. This expansion was a conscious effort to blend Eastern and Western art narratives, enriching the gallery's collection with diverse perspectives.

Vincent de Sarthe, who grew up amidst influential artists like Christo, views art as an ever-evolving force that challenges societal norms. This belief drives the gallery's focus, presenting exhibitions that contemplate our evolving society and the impact of art within

it. Vincent shares his vision on the evolving relationship between art and technology: "I have this theory...that eventually, as AI takes over, people will have to be more and more creative. That'll be our worth in the future."

The gallery's presence in Scottsdale aims to enrich the local art community with international insights, particularly from Asia, reflecting Vincent's experiences and the rapid changes occurring in that region. de Sarthe is not merely an exhibition space but a platform for fostering dialogue about the role of creativity and its relationship with technology in the future.

The curatorial approach at de Sarthe involves uncovering art that engages, challenges, and reveals its layers over time, creating a dynamic environment for artists, collectors, and art enthusiasts to connect. Discussing the gallery's mission and selection process, Vincent emphasizes the personal connection with art: "A lot of the initial reaction I get to art is kind of like falling in love. It's something that catches your eye; there's an attraction."

In an era dominated by digital innovation, the gallery explores the intersection of art with technology, including artificial intelligence and digital platforms, to expand the boundaries of creativity. However, de Sarthe remains committed to the enduring value of art as a reflection of human

experience, a source of inspiration, and a facilitator of cultural exchange.

Vincent de Sarthe's dedication to integrating art, technology, and societal themes establishes the de Sarthe Art Gallery as more than a viewing space—it's a vibrant community center where art is dynamic, evolving, and closely linked with the global creative landscape. In Scottsdale, the gallery symbolizes art's transformative potential, inviting visitors to explore beyond the immediate and consider the future of creativity.

Are you looking to venture into the world of art collecting? "The first advice I tell new collectors is to look at as much as possible... Also, trust in the insight of advisors and gallerists," Vincent de Sarthe offers advice to new art collectors, encouraging them to seek a personal resonance with their acquisitions, reinforcing the gallery's view of art as an intimate experience. He also highlights the importance of consulting with reputable art advisors to navigate the art market with insight and discernment.

For those interested in the convergence of tradition and innovation, the gallery offers a plethora of opportunities to discover and engage with pioneering exhibitions, artist collaborations, and projects. Visit their website or follow them on Instagram to explore the forefront of art in Arizona, one exhibition at a time.

desarthe.com | @de.sarthe

A F F O R D A B L E L U X U R Y

An inside view into the Valley's affordable luxury real estate market.

AFFORDABLE LUXURY

MARKET RECAP

IIn the vibrant landscape of Arizona's real estate market, 2023 was a noteworthy year for those eyeing the sweet spot of affordable luxury. This niche, defined by properties ranging from $750,000 to $1,499,999, saw some shifts that potential buyers and investors should consider. Despite a 23% decrease in total sales volume, a testament to a competitive market, the allure of affordable luxury homes remained undiminished. The average price for these coveted properties nudged by +1%, settling at $977,937.

Interestingly, the average sold price per sqft dipped to $353.62, a subtle .04% decrease from 2022. This slight adjustment reflects a market balancing itself, maintaining its appeal to discerning buyers. A significant change was the increase in market time; homes remained 75% longer,

averaging 70 days on the market. This shift presents a strategic window for buyers to deliberate their decisions more thoroughly.

As we enter 2024, the early trends hint at a slower pace but with rising price points. This could potentially elevate the sold price per square foot as the year unfolds, signaling a positive sign for home sellers. For those dreaming of investing in a slice of Arizona, the current climate suggests a promising opportunity to secure a valuable asset. Now might be the perfect time to invest in your dreams, capitalizing on the evolving market dynamics to find your ideal home at a favorable value.

Hot Interior Design Trends For 2024 5

Organic Lighting Fixtures

While enduring trends like statement wallpaper, eye-catching tiles, and wellness-focused designs continue to shape the 2024 interior landscape, there are also exciting new trends emerging. Here’s a look at 5 fresh trends that are set to define interior design in 2024.

The trend towards lighting fixtures made from natural materials like rattan, wood, or clay is on the rise. These materials not only add textural depth to interior spaces but also create a softer, warmer glow that enhances the overall ambiance.

Woodgrain Millwork

There’s an increasing preference for exposing original wood millwork, leading to a rise in demand for paint stripping services. Additionally, for new construction, there’s a shift towards choosing rich woods like walnut, maple, and mahogany, moving away from paint-grade millwork.

Expanding into Secondary Spaces

The trend is towards creating additional functional spaces linked to the kitchen, like back kitchens, extra wet bars, and butler’s pantries. These spaces can be either open or closed-off and are equipped with amenities like extra refrigeration, warming drawers, builtin coffee systems, wine storage, and dishwashers. This trend adds significantly to the functionality and convenience of food preparation and storage areas in homes.

Fluted Details

Fluted design elements, known for their distinctive texture and visual appeal, are becoming increasingly popular. Originally from classical architecture, these details are versatile across various design styles, adding depth and sophistication. The grooved patterns also play with light and shadow, creating a dynamic and unique texture in interior spaces.

Understated Opulence

This trend focuses on integrating subtle yet luxurious touches into interiors, enhancing the space with a sense of refined elegance without overwhelming it. It’s about incorporating finer details in furnishings, finishes, and textures— like unique edge profiles, detailed plumbing fixtures, tasteful wallpapers, and even vintage rugs—in a way that feels effortlessly sophisticated and maintains the space’s clean, uncluttered feel.

Photo Provided by: Caffe Latte

Photo by: Nate Sheets Designed by: McCroskey Interiors

Photo Provided by: Divine Savages

Photo Provided by: Covet House

Photo Provided by:Porcelain Superstore

Photo Provided by: Covet House

Photo Provided by: Think Rugs

TRANSFORMING SPACES INTO

Sanctuaries

INSIDE THE CREATIVE MIND OF ANITA LANG

Anita, your work is celebrated for its fusion of luxury and functionality. What is the core philosophy behind your design approach?

I believe that good design uplifts the human spirit… It is rewarding to hear from our clients and people who experience the spaces we create just how much they impact their lives. I often hear how being in our spaces makes them feel positive, serene, peaceful, and happy. Living in beauty affects our attitude, creating one of gratitude and joy! When you can live in those frequencies, more beauty and good experiences are pulled into your life. Good design is powerful!”

My design philosophy is based on five tenets: truth in materiality, respectful knowledge of architecture, vernacular appropriateness, seminal creativity, and always serving the best interest of my client. With a few decades of experience, there is a lot of depth to the process. My mind can create literally a thousand options for interiors, but it’s the sophistication of editing and depth of understanding of this design philosophy that brings us to very thoughtful and unique seminal designs, especially bespoke for the needs of a project. It is not collecting Pinterest images; rather, it is meditative, deeply researched, thoughtful, and inspired for this particular client and the project’s unique needs.

You have a unique talent for reflecting Arizona’s landscapes and culture within your interiors. How do you balance regional characteristics with your client’s tastes?

I am deeply curious about a wide breadth of subjects, and each new project allows me to draw on both previous experiences and research and explore the history, characteristics, and unique challenges of each project. Nothing is ever treated in a cookie-cutter way. It is why you see a lot of diversity in our work. The unique impetuses of

diverse client personas, appropriateness of architecture, and inspiring local vernacular all become threads in the beautiful one-of-a-kind tapestry we will weave on their behalf. Kind of like Steve Jobs when he created the iPhone…I make something for my clients that they did not even know existed, but they are absolutely going to need it. I love natural settings. Having grown up on the Atlantic Ocean and having lived in this beautiful, rugged Sonoran Desert for most of my adult life, much of my design work is profusely inspired by nature. For example, I am currently working on a resort in Northern Arizona, where the rock formations have informed the shape and character of the room pods. The golden bloom of the Century yucca plant gracing the property inspired the specialty linen line for the summer bed dressing. The most amazing piece of turquoise stone rock that I tripped over on a site visit has spurred the luxury dinnerware for the restaurant.

The luxury real estate market is constantly evolving. Based on your extensive experience, what are the current trends in homeowner preferences and demands in Arizona and beyond?

Trends cycle. I see clients already tired of the hard line linear look prevalent in our market. With hectic lives, global insecurities, and a lack of meaningful connections in an AI-driven chat box or social media facade, the home

In the realm of luxury interior design, few names resonate as profoundly as Anita Lang, the visionary behind IMI Design Studio in Scottsdale, Arizona. With her exceptional ability to weave functionality with opulence, Lang has redefined the essence of high-end living spaces. In a candid interview, Lang shares insights into her design philosophy, the symbiosis of nature and architecture, and the indelible impact of sustainable luxury on modern living.

increasingly needs to be a nurturing haven for us humans. I see a huge movement to the organic biophilia-based design and the softened curvilinear form still anchored in architectural intent.

With sustainability becoming a cornerstone in luxury design, how do you incorporate eco-friendly practices without sacrificing aesthetics?

Sustainability is just good design; just like beauty is worthless without function, so is a design without the thoughtfulness of how it will impact our earth and our children’s inheritance of it. Other than using consciously sourced products, recycled and full cycle materials, the other important aspect is creating lasting design. Instead of just following trends, which will feel out of place in a short time, design with seminal ideas appropriate for that project’s parameters will be timeless and lower the environmental impact. It is a changed mentality of doing things well, with lasting quality, and not buying into a throwaway society mindset.

In addition to sharing her design ethos, Anita offers advice to readers who are considering an interior designer for their next project. She advocates for the value professional designers bring, not just in terms of aesthetics but also in functionality, personalization, and efficient use of space. Anita’s work exemplifies how thoughtful interior design can transform a space into a sanctuary that reflects and enhances the lives of those who inhabit it.

Explore Further: For more on Anita Lang’s visionary work and tips on incorporating luxury and sustainability into your own spaces, visit IMI Design Studio’s website. Here, Anita and her team delve deeper into design trends, project showcases, and practical advice for those seeking to infuse their homes with a sense of luxury and personal well-being.

imidesignstudio.com

Why Working With A Noble Advisor Benefits You

The Art of the Deal:

One of the most critical aspects of buying or selling a home is negotiation. Noble Advisors are skilled negotiators who work on behalf of our clients to get the best possible terms and price. The experience and knowledge of our advisors can make a significant difference in your outcome by knowing what works and what doesn’t.

Minimizing Risk:

Buying or selling involves a multitude of contingencies, legal requirements, and paperwork. Our advisors guide you through this complex process and understand the legalities involved to help you avoid potential legal issues.

A Fiduciary Responsibility:

As REALTORS® members, we are bound by a set of fiduciary duties when representing clients in a real estate transaction. We have a legal obligation to act in your best interest, whether buying or selling.

Worth Their Weight in Gold:

Homes listed by real estate agents sell for an average of 30% more than for sale by owner. Our advisors are equipped with best-in-class resources to prepare, present and sell your home for a higher sales price every time.

Knowledge is Power:

Our advisors possess deep knowledge of local markets, including pricing trends, neighborhood dynamics, and the inventory of available homes. This expertise enables them to accurately access the value and success rate of a home when buying or selling.

Time is the Ultimate Luxury:

Our advisors help you save time and enjoy a stress-free experience.

Expert Guidance:

According to NAR, 89% of home buyers and sellers used an agent last year.