Scottsdale Zip Code 85255 Home Sales By Type Q1 2012 - Includes Foreclosures & Short Sales

Here are the home sales figures the first quarter of 2012 for the Scottsdale Arizona zip code of 85255.

85255 is one of the premier zip codes of Scottsdale and is located in North Scottsdale. It covers a large area from Scottsdale Road north of the 101 all the way east to McDowell Mountain Ranch. Many of the top Scottsdale luxury golf communities can be found in 85255 and they include Troon Country Club, Desert Highlands, Grayhawk, DC Ranch and Silverleaf.  Home options vary greatly. You can find anything from smaller condos and townhomes all the way up to large estates on multi-acre lots. Another plus to living in 85255 is Pinnacle Peak, which is visible to many homes in the area and fun to hike.

Below are the results for Q1 2012 homes sales in 85255. I have broken the information into three sales types and they are defined as follows:
- Non-Distressed Sales – Non-distressed sales are what you think of as "regular" or "traditional" home sales. In this common scenario, the home seller and home buyer work together to transfer the home from the seller to the buyer. No third-party approvals are necessary.
- Short Sales –  A short sale occurs when a seller is looking to sell the home for less than what is owed on it. In this case, third party approval of the contract from the lender(s) is needed for the sale to go through.
- Foreclosures – Foreclosures, also called "Lender-Owned" homes, "REO'" homes or "Bank-Owned" homes are homes that have been foreclosed on and are now back in the possession of the lender.

Overall Findings for the Scottsdale Zip Code 85255 Home Sales Market for Q1 2012 - Data as of March 31, 2012

• Active Scottsdale 85255 Homes For Sale: The vast majority of homes for sale at the end of Q1 were regular sales at 93%. The small percentage left was split almost evenly between short sales and foreclosures.
• 85255 Pending Homes for Sale: Short sales and foreclosures saw a larger share when you look at pending sales at the end of the quarter. For instance, short sales were only 4% of the active inventory, but were almost 20% of pending sales.
• Q1 2012 Scottsdale 85255 Home Sales: Two-thirds of sales in Q1 were regular sales.  The remaining third was comprised of distressed homes, even though homes like these were only 7% of the market for active homes for sale.
• 85255 Home Prices: As we saw at the end of last year, the average price of lender owned homes exceeded that of short sales. This is pretty unusual as foreclosures usually have the steepest discount. As would be expected, regular home sales had the highest average sales price and cost per square foot.
• Cumulative Days on Market: The figures here are pretty typical. The quickest closes were on lender-owned homes followed closely by regular sales. Short sales had the longest average cumulative days on market.
• Discounts Off of List Price:  Distressed homes saw little to no discount off of asking prices on average. This was in the 5% discount range a while back and we have seen discounts steadily disappearing. Regular sales sold at an average of 7% off of list price.

Scottsdale Zip Code 85255 - Sales Data By Quarter for 2011
Below is a quarter-by-quarter snapshot of home sales in 2011 for 85255.

 
If you would like to review this data for the City of Scottsdale AZ versus a single zip code, please visit these previous reports:

View Scottsdale Home Sales by Type for 2011
View Scottsdale Home Sales by Type for 2010
View Scottsdale Home Sales by Type for 2009

Search 85255 Scottsdale Homes for Sale

Originally posted on Live Better in Scottsdale

Disclaimer: Due to rounding issues, not all columns will add up to 100%. Data and information were pulled from the Arizona Regional MLS (ARMLS) as of 3/31/2012 and can change at any time. The analysis looks at single-family resale homes for sale and sales in Scottsdale AZ zip code 85255 for Q1 2012 and for the year of 2012. There may be new home inventory in these figures if the developer is using the MLS to market its homes. Information deemed reliable but not guaranteed.
Copyright © 2012 Heather Tawes Nelson