Market Report for Scottsdale, 85254

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Real Estate Agent with Value Added Service, 602-620-2699 SA5376460000

This mid-Scottsdale zip code has a lot to offer with new retail, new condo high rises, golf courses, and is just west of the Scottsdale airport.   This zip code is directly west of the Scottsdale Air Park, which is the largest employment center in Scottsdale.  The Air Park has seen a healthy increase in new office development and has east access to the 51 or Loop 101 freeway that loops most of the Phoenix Metro area. 

 

Another positive for this zip code is that it earns a Scottsdale address, thanks to the post office.   This zip code is serviced by the City of Phoenix and also has access to Paradise Valley schools, which has earned this zip code the title, "The Magic Zip Code!"   

 

Current listings in 85254 range from $290,000 to $2.759 million.  Homes range in size from just over 1200 square feet to over 5800 sq feet.  

 

Heavy concentrations of second homeowners make up many of the purchases this time of year as "snow birds" arrive for the winter months.   After renting for a few years, buyers begin to start thinking seriously about buying homes and condos and many eventually live here year round thanks to attractions and local summer destinations nearby.  The Kierland area is home to many second homeowners. 

 

Currently there are 243 Active Listings in Scottsdale, 85254.  By comparison, there were twice as many in 2007 as the market started to fail. 

85254 Active Listings Nov 2016

 

The housing market in Scottsdale, 85254 is healthy, well balanced with few foreclosures and short sales.  This zip code bottomed out earlier than some zip codes, as April, 2011 was the bottom of our housing market in Maricopa County.   

 

Closed Sales for 85254

 

Days on market for November, 2016 is 73.18, which is close to the average for the entire county of 71 days on market. 

 

Accumulated Days on market 85254 Nov_2016

Currently there is a 3.1 month supply of inventory in Scottsdale, 85254.  Again, very healthy for both buyers and sellers.  

 

Days on Market for 85254

Median sales rate for 85254 is currently $425,000.  As you can see from this chart, prices are still lower than the peak.  Currently, sales range from $305,000 to $860,000 during the last 30 days in this zip code.  

Median Sales 85254 November 2016

If you are looking to buy or sell in Scottsdale, please give me a call! 

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HomeSmart Elite Group                                  

8388 E Hartford Dr., Suite 100

Scottsdale, AZ 85255                                                         

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Rainmaker
1,607,672
Bob "RealMan" Timm
Ward County Notary Services - Minot, ND
Owner of Ward Co. Notary Services, retired Realtor

Excellent report Jan Green , the "Magic Zip Code" caught my attention being Minot ND is known as "The Magic City".

Dec 05, 2016 04:26 PM #1
Rainmaker
978,822
Jan Green
Value Added Service, 602-620-2699 - Scottsdale, AZ
HomeSmart Elite Group, REALTOR®, EcoBroker, GREEN

Interesting coincidence!  Ours is because everyone wants a Scottsdale address, but supposedly Phoenix utilities are cheaper, and PV schools are great, as well as Scottsdale of course.  Anyway, thank you for commenting and have yourself a great day!

Dec 06, 2016 12:40 PM #2
Ambassador
2,779,933
Dick Greenberg
New Paradigm Partners LLC - Fort Collins, CO
Northern Colorado Residential Real Estate

Hi Jan - What an excellent market report! Along with the numbers, you have provided excellent analysis and some interesting background - this will surely be appreciated by anyone with an interest in real estate in the 85254 zip code.

Dec 06, 2016 01:11 PM #3
Rainmaker
978,822
Jan Green
Value Added Service, 602-620-2699 - Scottsdale, AZ
HomeSmart Elite Group, REALTOR®, EcoBroker, GREEN

Thank you Dick Greenberg !  Racing out the door to show properties but will take a look at yours when I get back! 

Dec 06, 2016 01:18 PM #4
Ambassador
2,862,502
Anna Banana Kruchten CRB, CRS 602-380-4886
Phoenix Property Shoppe - Phoenix, AZ
Arizona's Top Banana!

Jan excellent market report for the magic zip code of 85254!  That is one of my favorite areas for many of the reasons so pointed out.

Dec 12, 2016 03:04 PM #5
Rainmaker
978,822
Jan Green
Value Added Service, 602-620-2699 - Scottsdale, AZ
HomeSmart Elite Group, REALTOR®, EcoBroker, GREEN

Thank you Anna Banana Kruchten !  I used to live in that zip code for many years and now live next door.  Love the area!  Merry Christmas to you & Gary!

Dec 12, 2016 03:46 PM #6
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Rainmaker
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Jan Green

HomeSmart Elite Group, REALTOR®, EcoBroker, GREEN
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