- 85266 Zip in Scottsdale Home Sales for 2013 - Includes Short Sale and Foreclosure Data -
85266 can be found in North Scottsdale. It is adjacent to 85255 and 85262 and borders the towns of Carefree and Cave Creek. The majority of housing options in 85266 are single-family homes, many on large lots and many with horse privileges. Residents enjoy the natural desert landscape while being minutes away from dining, shopping and entertainment.
85266 HOME SALES INFORMATION
Here are the sales statistics for 85266. The top section will look at performance in the last quarter of 2013 and then the next two sections will look at the sales data over the course of the year.
There are three sales types covered and here are their definitions:
- Non-Distressed Sales – Non-distressed sales are typical home sales. These regular sales are what most people are familiar with as they are the majority of sales.
- Short Sales – A short sale happens when the value of the home falls below what is owed on it. In this case, the seller has to get permission from the lienholder to sell the home for less. This is an example of a distress sale.
- Foreclosures – Another example of a distress sale in a foreclosure. Here the homeowner has lost the home and the ownership has reverted back to the lienholder.
Overall Findings for the Scottsdale Zip Code 85266 Home Sales Market for Q4 2013 - Data as of January 1, 2013
- Active Scottsdale 85266 Homes For Sale: The majority of homes for sale at the end of Q4, were regular homes sales (97%.) The small remainder was short sales and foreclosures.
- 85266 Pending Homes for Sale: Pending sales at the end of the quarter saw a big swing toward short sales. Almost 20% of pending sales at the end of the year were short sales. There were no pending sales of foreclosures.
- Q4 2013 Scottsdale 85266 Home Sales: Looking at Q4 sales, 15% fell into the distressed category. This is higher than we have seen in other Scottsdale zip codes.
- 85266 Home Prices: Foreclosures came in with the highest average sales price of all three categories and an average price per square foot higher than short sales. Usually, foreclosures come in at the bottom.
- Cumulative Days on Market: What is interesting is how long the days on market were for foreclosures, exceeding short sales. Part of this can be attributed to the higher price point of the sales, as higher priced homes take longer to sell.
- Discounts Off of List Price: The short sale average discount off of asking is one of the highest I have ever seen at 17%. This is usually a discount of a few percentage points. Foreclosures also came in a little higher than usual.
Scottsdale Zip Code 85266 Home Sales for 2013
Here is the same chart as above, but with full-year data.
What is notable is that short sales came under foreclosures in terms of average sales price and average price per square foot. Typically, foreclosures come in with the lowest price per square foot.
When looking at 2013, buyers of short sales and foreclosures only saw an average discount of 1% off of asking, whereas purchasers of regular sales saw an average of 4%.
QUARTERLY SUMMARY - 2013 Scottsdale Home Sales in Zip Code 85266
As we have seen elsewhere, Q2 was a very strong sales quarter for 85266. Sales in that quarter more than doubled sales in Q3 and Q4.
What is interesting to note is that we typically see non-distressed sales' percentage of the market increasing over the course of the year. In the case of 85266, distressed sales had their largest representation in Q4 at 15% of all sales.
To see this same information for the entire City of Scottsdale AZ, please visit these previous reports:
View Scottsdale Home Sales by Type for 2012
View Scottsdale Home Sales by Type for 2011
View Scottsdale Home Sales by Type for 2010
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 and 1/1/2014 and can change at any time. The analysis looks at single-family resale homes for sale and sales in Scottsdale AZ zip code 85266 for Q4 2013 and 2013. Actives and pending figures are as of the day the data was pulled. 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. This post represents the opinion of the author. No warranties express or implied.
Copyright © 2014 Heather Tawes Nelson | Joyce Tawes