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Zip Code 85254: Market Snapshot in Phoenix Arizona

By
Real Estate Agent with LRA Real Estate Group

 

Zip Code 85254 Market Snapshot

Zip Code 85254: Market Snapshot in Phoenix Arizona
Single Family Homes
June 2010

Wondering about homes in this Zip Code?  We have prepared a snapshot for you.  How is the best way to find your next home? Call an expert to locate just the right one for you and your family.

ZIP code 85254 comprises a large area of northeast Phoenix and a small part of northwest Scottsdale stretching from Shea Boulevard in the south to the Central Arizona Project canal in the north. The western boundary is Tatum Boulevard and the eastern boundary is Scottsdale Road.

ZIP code 85254 is unusual in that it is split between two different cities - Phoenix and Scottsdale. In fact 85254 is probably the most unusual ZIP codes in Arizona in that 85% of the homes within its boundary lie within the city of Phoenix and yet their correct postal address is "Scottsdale 85254". This is because the USPS office that serves the area is located inside Scottsdale. This illustrates that ZIP codes are tied to post offices, not to cities. See the Wikipedia entry on ZIP codes for further details. For the homes affected, Scottsdale is the "default place name" for postal purposes only For all other purposes they are part of the city of Phoenix.

 Active Listings
The month of June reported 344 residential property listings, DOWN 9% compared to 377 in May, and UP from 342 just a year ago. The Federal First Time Home Buyer $8,000 tax credit has affected the market in many ways. We are all waiting to see what will happen in the next 3-6 months.

Pending Listings
June ended with 106 pending listings, FLAT from 105 in the month of May, and UP from 91 in June a year ago.

Sales Per Month
Sales in June were 77, UP 21% from 61 in May. The prior year June sales were 61.

Annual Sales $/SF
June reported Sales/SF at $140, FLAT from $141/SF in May, and DOWN from $162/SF in June the prior year.

Summary
Real estate activity in the Phoenix Metro area market continues to deteriorate, where demand in the market is roughly the same as the supply. Some good news is that the federal tax credit deadline to close escrow on qualified home sales was extended to September 30th. Stay tuned to our blog, where we will keep you updated.

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Bryan Watkins is a savvy Realtor® in the Metro Phoenix area. Want to Search the official MLS for FREE the same as an Agent? Then jump to www.LRARealEstate.com for a fast start. You can also text Bryan at 480-734-7878 or email bryan@LRAphx.com for more information on homes or other fine properties. Some info was courtesy of MLS, Wikipedia and the Cromford Report.

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Posted by

Bryan Watkins
Designated Broker
LRA Real Estate Group
www.LRARealEstate.com
Phoenix-Tempe-Mesa Metro
480.734.7878 text/cell

Find us on www.Facebook.com/LRARealEstate

Comments (1)

Joe Harvey
Lake Worth Real Estate - Lake Worth, FL

If you are interestyed in REO's or Short Sales let me know I am the regional manager that covers Arizona for foreclosure.com

Jul 09, 2010 08:05 AM