– Terravita in Scottsdale, Arizona- 2014 Real Estate Market Update –
Terravita is a guard-gated community in North Scottsdale that is well-loved by its residents. Terravita is comprised of almost two dozen smaller neighborhoods and home sizes range from smaller “lock and leaves” to larger, single family homes.
Many homes are on or have views of the golf course, which was designed by Billy Casper and Greg Nash. There is a lovely clubhouse at Terravita as well as a large fitness center, tennis complex and multiple pools. Miles of trails throughout are perfect for outdoor enthusiasts.
HOMES FOR SALE AND PENDING SALES IN TERRAVITA AS OF 7/17/2014
As of mid-July, there were 19 homes on the market in Terravita. They ranged in price from $415,000 for a 1,670 square foot home to $998,000 for a 3,931 square foot home.
Four homes were pending sale at that time with prices ranging from $395,000 to $$619,000.
2014 HOME SALES IN TERRAVITA THROUGH THE FIRST HALF
Sales have been pretty level from quarter to quarter. Typically, you would see a larger jump in Q2, but that is not the case in this community. And, unlike what we have been seeing elsewhere, the average price per square foot fell between Q1 and Q2. On a positive note, the cumulative days on market seems to be staying low, even though it did jump in Q2.
The most expensive home sale in Terravita in 2014 so far was $925,000. This was for a 3,703 square foot home. It had been listed for $950,000.
The least expensive home sale to-date this year was $332,000 for a 1,409 square foot home. It had been on the market for $352,000.
Overall, Terravita home sales have been respectful, but we did not see an uptick in Q2 as we have seen in many other local communities. It will be interesting to see if Q3 slows down or stays level.
Disclaimer: Information herein deemed reliable but not guaranteed. Data and information was pulled from the Arizona Regional MLS (ARMLS) as of 7/17/2014 and can change at any time. The analysis looks at residential single family home sales activity in Terravita in Scottsdale, Arizona. This blog represents the opinion of the author. No warranties implied or expressed.
Copyright © 2014 Heather Tawes Nelson