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.
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.
Days on market for November, 2016 is 73.18, which is close to the average for the entire county of 71 days on market.
Currently there is a 3.1 month supply of inventory in Scottsdale, 85254. Again, very healthy for both buyers and sellers.
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.