Whisper Rock Real Estate Sale Closing
We wanted to share the latest Whisper Rock real estate sales information with you. Today we closed escrow on 33296 North Vanishing Trail. The home closed for $2,092,000.
WHISPER ROCK REAL ESTATE SALES ACTIVITY
Whisper Rock real estate sales activity has been slower this year than last. Six homes have sold in 2020 compared to seven homes during the same period in 2019. Our selling season usually slows during the summer month but four of the homes sold so far this year closed between July and September, indicating that the pandemic shifted our traditional selling season. Several of the homes currently pending will increase the summer sales figure.
There is significant discounting on Whisper Rock sales so far this year. The average discount is 9.5 percent (with one as much as 22 percent). Three percent is average within the market. The median price for a home in Whisper Rock dropped slightly, but the average cost per square foot remained stable at $382 per square foot. There are five homes currently for sale in the community, of which two are new builds.
WHISPER ROCK REAL ESTATE SALES FROM JAN1, 2020 – SEPTEMBER 3, 2020
NORTH SCOTTSDALE REAL ESTATE MARKET
In North Scottsdale, the median home price increased 12 percent compared to 2019. The average number of days on the market has dropped to 86. The overall market is strong, with 64 percent of the current listings already under contract. This is called the Contract Ratio, and when it is above 50 percent, it indicates a seller’s market. In the luxury segment above $1,000,000, the Contract Ratio is 38 percent compared to 14 percent last year.
Another market indicator is Days of Inventory, which measures how quickly the current housing inventory will be depleted if no more homes are listed. This number is at a record low of 29 days for the Phoenix metro market. In North Scottsdale, the number is 94 days. For reference, the running average for North Scottsdale is 225 days.
DAYS ON MARKET IN WHISPER ROCK AND NORTH SCOTTSDALE
The number of days a home sits on the market is down across the market, falling by 18 percent in Scottsdale. Whisper Rock sales activity however has been slower with the number of days on market remaining consistent for the past two years at 316 days. This is understated as several of the homes were removed from the market and then placed back on the market which artificially deflates the number.
THE WHISPER ROCK REAL ESTATE TEAM
We know Whisper Rock Sales Activity – As a real estate team located within the Whisper Rock community, we can assist you in both buying and selling a home in Whisper Rock or the surrounding North Scottsdale area. Please contact us if we can be of assistance, or provide more information about the market.