The Scottsdale zip code of 85266 is the farthest north end of the Scottsdale city limits, and also includes parts of the city of Carefree; east of that you'll find the city of Cave Creek in 85331.
Carefree is a quaint "town" with streets "Ho Hum, Artisan Way, Vanishing Trail, Lower Wash Pass, and Tortuga View" to name a few. There isn't much retail in 85266, but what is there is charming, unique in it's small town way, although there is a larger grocery store and Target at the southern end of the zip code. For more information about Carefree, check out the town website.
Included in this zip code is the Boulders Resort, which was just named "Best Hotel in Arizona" by Travel & Leisure and has brand new interior finishes. Known for it's gorgeous desert backdrop - a photographers canvas for sure!
The topography in 85266 is some of the most beautiful in Maricopa County. Boulder outcroppings, with hilly areas and Black Mountain to boot!
As you drive north on Scottsdale Road, speed limits are reduced to 25 mph in this area as luxury homes are plentiful in Scottsdale and Carefree.
The median prices for a home in Scottsdale and Carefree, 85266, is close to $1 million. There are currently 280 homes for sale in 85266 that includes Scottsdale ranging from $379,000 to $5 million. As you can see, every August/September, listings dip as winter visitors have purchased these homes during the cooler months, clearly showing that winter/spring is the time to buy homes in this zip code.
Clearly the last 3 years have shown relatively flat Median Sales prices in 85266. This zip code experiences high enough prices for winter visitors vacation homes, which had been stagnant when the housing market tanked in 2011. This year's swings in median price have risen to $800,00 and fallen to $550,000, a wide gap thanks to the luxury market in this area.
This unique chart includes Under Contract for List Prices in 85266. The only parties privey to the pending contract prices are the buying and selling parties to a sale. This chart includes those pending price per square foot sales, a rare commodity in market updates. There are currently 58 homes under contract in 85266.
Being able to offer these charts to buyers and sellers helps manage expectations of both parties for the Housing Market Update in 85266.
There have been 74 sales in the last 90 days in 85266. This report does not include a full month for 85266. Rather there were 379 sales in February. Notice that sales have been consistenly rising in this zip code for Single Family Homes since 2014, even though prices have flattened, a great sign of recovery! Buyers are back but prices are still remaining flat and sales are increasing.
There have been a few short sales in 85266. Nothing too huge to demand a market shift, but because there are so few listings in this zip code the results of a few short sales or foreclosures can seem like more of a market shift. Currently there is one short sale listing, 2 pending foreclosure listings, and one foreclosure sale in the last 90 days. Clearly those sales are priced less than existing housing sales.
Average sales per month appear to be closer to 30 given this chart. The peak of sales occurs during the next few months prior to the decline in August when most all of the winter visitors have returned to their primary residences. Since this report is being prepared mid-March, the final tally for March has yet to be recorded, but I'm betting the numbers are much better than 16 sales. There were 34 sales in February, a strong month.
According to this chart, it's still a buyers market in this Median Price Range of $1 million.
The above chart clearly shows the inventory levels by price range. Since most of the sales in Maricopa County are between $200,000 - $400,000, the zip code of 85266 is a place to look if you're in the $1 million price range, give or take. With it's break taking scenery, serene lifestyle, and quaint charm, 85266 is a great place to call home!
If you' re interested in more information or to see homes in 85266, give me a call!