We focus on Scottsdale Real Estate Sales and for our North Scottsdale Property Report, we compile data on North Scottsdale real estate sales priced above $700,000 in zip codes 85255,85262 and 85266. We look at what is currently on the market, what has sold this year, and how this compares to last year. When we pulled the current information about Scottsdale real estate sales and available home inventory, we were very surprised by what we saw. The chart below shows the Scottsdale real estate sales detail but read on to understand what the numbers mean.
Scottsdale Real Estate Sales Prices
The median price for a home for sale in North Scottsdale is $1,847,000. If we look at the median price of homes that have sold so far this year in the same area, that number is $1,050,000 which is 43 percent lower than the current median list price. This tells the story about what is happening in the Scottsdale real estate market. Homes in our market priced below this, and priced in the range from $800,000 to $1,500,000 are selling quickly. Last year between January 1 and August 18, a total of 518 homes sold taking on average 164 days to close. This year the number of homes sold during the same time period has increased over 13.5 percent to 588, and the average number of days it is taking homes in that price range to sell has dropped by over 25 percent to 122. As you can see from the chart below, the number of active listings has dropped to its lowest point in a year.
If you are looking to buy Scottsdale real estate right now, it is a seller’s market at many price points. In the past couple of weeks, we have been involved in three transactions ranging from $800,000 to $2,150,000 and all of the homes had back-up offers placed on them, meaning if the first accepted offer falls apart for any reason, the back-up contract would immediately fall into place.
If you are looking to sell a home in the Scottsdale real estate market, if your home shows well, and is priced correctly, you should see significant activity. Sellers, please call us to discuss your home if you are considering putting it on the market.
Scottsdale Real Estate Sales This Week
New Listings, Listings Under Contract, and Closed Sales for August 19, 2020
Here is the detail on Scottsdale real estate sales this week. These are new listings, under contract, and closed sales in the North Scottsdale real estate market. Each week we provide our readers with an update on homes priced at $700,000 and above in the 85255, 85262 and 85266 zip codes.
This past week:
The highest-priced home listed in North Scottsdale this week is $3,500,000 in The Goldie Brown Ranch Pinnacle Peak.
The highest-priced home to sell this week sold for $3,300,000 in Silverleaf which is 89% of the home’s original list price.
We Can Help You Buy or Sell a Home in Scottsdale
If we can assist you in buying or selling a home, we would appreciate the opportunity to earn your business. We can also assist in other markets as we have an extensive network with some of the leading agents in the country. If you are in Beverly Hills or Los Angeles, please contact us about our relationship with Hilton & Hyland. We can be reached by email or call us at 602-603-0708.