The Hankerson Team

A Look Into Luxury 11-11-2024.

A Look Into Luxury – 11-11-2024 - Discover New Homes in Arizona Hi, It’s Michael Hankerson, it’s November 11, 2024 and I would like to begin with wishing you a Happy Veterans Day and extend my gratitude to all those who have served our country. Over the past three weeks, 44 more homes have sold in Arizona for $3 million or more, bringing the total to 621.

A Look Into Luxury – 11-11-2024
First of all, I'd like to wish you a Happy Veterans Day and extend my gratitude to all those who have served our country.
Over the past three weeks, 44 more homes have sold in Arizona for $3 million or more, bringing the total to 621. The number of homes listed for sale at $3 million or more also grew by 44, now totaling 673. So, on 11-11, Arizona's luxury market recorded a “44-44” change, and the months of supply for homes priced at $3 million or more is now 11.11… Looks like I should buy a lottery ticket today, haha.
Despite a third consecutive year of decline in sales for non-luxury homes in Arizona, it seems likely that 2024 will set new record highs in the following areas:
• Number of homes sold for $3 million or more
• Number of homes sold for $10 million or more
• Number of homes sold for $14 million or more
• Highest sale price recorded in Arizona
• Highest price per square foot recorded in Arizona
If you have any questions, please feel free to reach out via direct message, text, phone call, or email. Thanks, and have a great day!
Michael Hankerson | 602.770.7205 | [email protected]

This $7.2 Million Scottsdale home has some great indoor / outdoor spaces.

10285 E Chama Rd Scottsdale - Discover New Homes in Arizona This is one of the premier properties in Skye View, redefining luxury living in North Scottsdale. Spanning 5,932 square feet, this architectural masterpiece, crafted by Camelot Homes in 2024, pairs modern elegance with an unparalleled resort-style backyard, all set against a backdrop of sweeping mou...

Off Market | Not on the MLS or Zillow. 2-Bed, 2-Bath, Fully Remodeled Scottsdale Townhouse.

Off Market Scottsdale Townhouse for sale - Discover New Homes in Arizona Welcome home to Miller Road! This charming 2-bedroom, 2-bathroom townhouse is ready for its next owners to enjoy a mix of style, comfort, and convenience. With its recent upgrades, it offers a modern aesthetic with an inviting, open layout

Check out this $13.5 Million new PV home.

Finisterre Luxury Home – Paradise Valley - Discover New Homes in Arizona Explore a newly constructed, state-of-the-art luxury home nestled between Camelback and Mummy Mountains in the prestigious 24-hour guard-gated community of Finisterre.

How Rising Interest Rates Impacted the Metro Phoenix Housing Market in October and Their Potential Effects on November
The residential real estate market in Metro Phoenix is experiencing a shift. Optimism had been high due to hopes for lower interest rates and abundant inventory, which would provide buyers with more choices and reduce monthly payments from a drop in 30-year mortgage rates. This optimism led to an uptick in sales and increased metrics across the board, including average sales price, price per square foot, and total sales volume.
However, the sharp rise in interest rates in October has appeared to dampen market activity. The average time on the market for homes has grown, inventory has climbed sharply, and the number of homes under contract has seen a slight decrease. These shifts have caused the supply-to-demand ratio to drop further. Although higher rates may appear as a deterrent, they have also strengthened buyers’ negotiating power, enabling them to secure deals at prices below asking or request additional concessions like repairs.
Looking ahead to November, buyers may still find themselves in a favorable position to negotiate as long as inventory remains high. Yet, unless interest rates stabilize or decrease, the Metro Phoenix housing market may continue to see moderate activity, with buyers weighing the benefits of possible concessions against the ongoing challenge of higher monthly mortgage payments.
If you have any questions, please feel free to reach out to Michael Hankerson via direct message, phone, text, or email: 602.770.7205 | [email protected].

Luxurious McCormick Ranch Retreat in Paradise Park Trails
Welcome to this beautifully remodeled McCormick Ranch home, ideally located in the highly sought-after Paradise Park neighborhood, just north of Cochise Elementary School and Mountainview Park. Nestled in a quiet cul-de-sac, away from the hustle and bustle of major roads like Shea, Mountainview, the 101 Freeway, and Hayden, this home offers both privacy and convenience.
Enjoy direct access to the scenic greenbelt path, which runs underneath Mountainview Road, providing easy walks or bike rides to Cochise Elementary School and Mountainview Park. (Check out our video tour of the Greenbelt Path below!) The south-facing backyard ensures ample sunlight for enjoying your resort-style pool and travertine patio, perfect for outdoor living.
This 4-bedroom, 2.5-bathroom home spans approximately 3,079 square feet and is located within the coveted 3 C’s school district (Cochise Elementary, Cocopah Middle, and Chaparral High). The comprehensive down-to-the-studs remodel was completed in 2024, featuring a brand-new roof, two high-efficiency HVAC systems, ductwork, windows, doors, and sleek engineered wood floors. The gourmet kitchen is equipped with high-end appliances, including double dishwashers, a 36'' electric cooktop, and a 33'' all-freezer/refrigerator combo.
This is the third remodel project with this floor plan by the builder, reflecting a proven design and attention to detail. We've even included photos from previous projects to showcase their exceptional quality in the video above.
This amazing home is completed and listed at $2,390,000. Don’t miss your chance to own this Scottsdale gem, perfectly situated for families and those seeking luxurious living in the heart of McCormick Ranch. For more information please visit our website https://newhomes-az.com/mccormickranchremodel/
Michael Hankerson | 📞 Call/Text: 602.770.7205

McCormickRanchRemodel - Discover New Homes in Arizona Have you ever wished you were the first to discover a stunning newly remodeled home before anyone else? Perhaps even collaborate with the designer and builder to tailor it to your tastes?

A look into Luxury 10-18-2024
Over the past six weeks, the luxury home market in Arizona has noticeably slowed down, with only 54 homes selling for $3 million or more. The inventory of homes listed at $3 million or more also rose sharply, increasing by almost 17%. One more home sold for $10 million or more, bringing the total to 25 for the year, while the number of homes sold for $14 million or more remained steady at 6. The inventory of homes priced at $10 million or more rose by 12, bringing the total to 64, with 10 of the 12 priced at $14 million or more, increasing that total to 39. The slowdown may be a result of people holding off on making luxury home purchases until after the election. So, two weeks from now, depending on which candidate wins and how that aligns with the luxury home buyers' preferences, we may see a surge in purchases or further slowing of the market.
If you have any questions, please feel free to reach out to me by direct message, text, phone call, or email.
Michael Hankerson | Designated Broker | 602.770.7205 | [email protected]

Stunning Arcadia / Camelback Mountain Luxury Home

5814 E Camelback Rd - Discover New Homes in Arizona Welcome to another spectacular home by Two Hawks Design and Development. I have always been impressed by their contemporary design, which seamlessly blends spaces for entertaining guests with features that support an active lifestyle.

Big changes in the key economic indicators and the Metro Phoenix Housing Market in September. Read our article, Watch our video, See our Chart.

Metro Phoenix Housing Update: September 2024 - Discover New Homes in Arizona Hi, it's Michael Hankerson. Today is October 1st 2024, and I have the latest Metro Phoenix housing numbers along with some key national economic indicators to share with you.