Happy Thanksgiving. A tumultuous year. Certainly a lot to be thankful but a lot a lot going on for many people. Hope your have some nice quiet time to read the newsletter!

The weather turned amazing. The grandstands at TPC are under construction and the Costco parking lot is packed. Peak Scottsdale.

Real estate has had a few shaky months as the market adjusts to higher interest rates. But rates may have topped and seem to be retreating. Meanwhile market participants who may of been on the sidelines seem to be creeping back in to play.

Just Listed | Under Contract | Gainey Village Casitas

SCOTTSDALE'S BEST! The ideal pied-à-terre. Welcome to this recently remodeled lock and leave gem in guard gated Gainey Village Casitas! Rare all on one level unit with larger backyard/patio for relaxation and entertainment. Immerse yourself in modern luxury with a recently updated kitchen and baths. Dream kitchen featuring an island, custom cabinetry, wine fridge, and top of the line appliances. The home boasts California Closet's systems in both bedrooms. The spacious master bedroom features a big walk-in closet, adding a touch of indulgence. Well-designed split master floor plan for privacy.

7299 E Vaquero Dr, Scottsdale 85258 | Offered at $798,000
2 Bedrooms | 2 Baths | 2 Car garage | MLS Link: Click Here

Thanksgiving Round Up

Ok some stuff to get you ready for tomorrows fun times.

Costco entire thanksgiving meal in a box.

Light and fizzy cocktail to start. And 39 more Thanksgiving cocktail ideas.

6 famous mashed potato recipes tested. (Who knew 2 Chainz had recipes).

And your annual reminder not to deep fry a turkey.

Market Stats

Here is our latest table of Cromford® Market Index values for the single-family markets in the 17 largest cities ~

There was an average decline of 16.1% in the Cromford® Market Index for the 17 cities above. This is slightly less bad than the 16.3% decline we saw last week.

Well above average declines in CMI can be seen in Cave Creek, Buckeye, Mesa, Scottsdale, Glendale, Paradise Valley, Surprise and Phoenix. The slowest declines are to be found in Goodyear and Tempe. In fact Goodyear has started to see its CMI rise over the past week.

10 out of 17 cities are still sellers markets with Peoria and Cave Creek in the balanced zone while Surprise, Buckeye, Goodyear, Queen Creek and Maricopa are all buyers' markets. Maricopa and Queen Creek are below the 80 level and Buckeye has dropped below 70.

Our Take

On the macro level this shows the market in a balance. No major advantage for buyers or sellers. This is the first time balance could be seen in an extended period of time. Whilst it does seem like all the markets are moving in the wrong direction. It's ibteresting to reflect that the last time of major price depreciation, 2007-2011 the Cromford index was below 50. This market is absolutely not in that area.

This is the long term chart. The lowest point for this index was November 2007. That predicted further price declines. For there to be serious price pressure the index being at or below 50 would probably need to occur. And it would beed to spend a significant period of time there.

Coming Soon Listings

We have some coming soon listings in Paradise Valley, McCormick Ranch, Biltmore and North Scottsdale. But in this market things go fast so if you are looking be sure to let us know :-)

Interiors

What is wabi-sabi design?

It's in. The Architectural Digest 2024 Interior Design Forecast.

10 2024 Design Predictions fron Houzz

In The Neighborhood

Scottsdale council approves "The Parque" on Crackerjax site. (Development plan PDF)

Press coffee opening 4 stores in Scottsdale Sprouts locations.

3 Mexican restaurant happy hours.

The Global Ambassador to open in December.

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That's it folks. Have a great Holiday. Happy Thanksgiving!