Real Estate Update, Homes in Scottsdale, 85254, $600,000 - $800,000

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Real Estate Agent with Value Added Service, 602-620-2699 SA5376460000
https://activerain.com/droplet/5jGG

This report is for homes for sale in Scottsdale, 85254.  Currently, homes in 85254 range in  price from $347,500 to $2.5 million. There are homes on a quarter of an acre up to horse property on acre+ lots. 

 

The zip code is known as the "magic" zip code by some for several reasons.  The 85254 zip code has a Scottsdale address, is technically within the City of Phoenix municipality, is in the Paradise Valley School District which ranks well, and there is great retail and proximity to freeways. 

 

Reports you see here are furnished by subscription to the Cromford Report! 

 

This first report reflects Active listings.  Notice they've spiked for the price range $600,000 - $800,000.  This is typical for this time of year as June is our biggest sales month by volume and the market has been rising steadily in the second quarter.   The swing looks large, but there are only 65 homes for sale in 85254 in this price range, versus 36 a year ago and this report only covers 4 years time when inventory remained low due to low interest rates and move-up sellers waiting for their prices to rise in order to list for sale.

 

Active Listings for Homes in Scottsdale, 85254 $600,000 - $800,000

This next report shows the Pending Sale activity for the same zip code, but not price range.  Generally speaking, the majority of our sales occur from March through October, but there are always seasonal buyers in town during the winter months "shopping."   Notice that pending listings dipped from Q4 2018 to Q1 in 2019,  but picked up nicely in the second quarter.

 

Pending Listings Scottsdale 85254 $600,000-$800,000

 

The Average Cumulative Days on Market in 85254 for homes priced $600,000 - $800,000 is currently 66.4 days, which is much lower than the average in the entire Metro Area of Phoenix of 105.4 days.  This zip code fairs well in faster sales than other areas. The quickest sale date on this chart in 85254 for this price range was October, 2013 when a home within those parameters sold in 12 days.  Homes were selling quickly due to very low inventory when the housing market was recovering. 

 

Average Days on Market 85254 $600,000 - $800,000

As you can see from this graph, sales have increased every year since the bottom of the market in 2011, except for 2014. The peak sales of 221 homes in May, 2006 is still higher than the current high of 173 homes. Experts say that MANY baby boomers aren't moving as they are retiring in their homes and may not move until later in life as they have short memories of the housing recession.  Some may have paid more for their homes in 2005 through 2007 than they are currently worth.  I'm seeing this for homes purchased at the height of the market over $750,000.

 

Sales per Year 85254 $600,000 - $800,000 May, 2019

 

This next chart shows the Median Price in 85254.  Median prices are derived from eliminating the very top and least expensive homes to come up with a  mean average.  In 85254, the median price has surpassed the June, 2006 price of $530,000 as it's currently $560,000 as of June 12, 2019. It remains to be seen if that price is sustaining.  To compare, the median price in 85254 in April, 2011 was $237,000.  

 

Monthly Medan Price in 85254 for June 2019

Compare the change in average list price for this price range versus others to see where the hot markets are by pocketbook.  With rising prices, segments of the market show decreased inventory.  Since the median price is rising and is at an all time high of $264,800 in Maricopa County, demand is high for lower prices and affordable homes are disappearing pricing first time home buyers out of the market.  Those flipping homes are making little money on the lower priced homes as well. Those with deeper pockets are buying homes! 

Annual Average change by price range $600,000 to $800,000

 These reports are for one price range in one zip code. If you'd like to see other reports for different zip codes in Maricopa County, please contact me.  And if you're looking for a Scottsdale REALTOR to assist you in buying or selling homes, I'm happy to help! 

 

Reports are furnished by subscription to the Cromford Report.  Copying these photos or re-using them is copyright infringement.  

 

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HomeSmart Elite Group                                  

8388 E Hartford Dr., Suite 100

Scottsdale, AZ 85255                                                         

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Rainmaker
4,914,246
Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
Marketing Agent for The Todaro Team

Good morning, Jan Green buyers and sellers should appreciate this data that you've provided on Scottsdale and call you for guidance when buying and/or selling.... 

Jun 14, 2019 03:55 AM #1
Rainmaker
1,417,460
Kat Palmiotti
Grand Lux Realty, Monroe NY, 914-419-0270, kat@thehousekat.com - Monroe, NY
The House Kat

Lots of data regarding Scottsdale! You're the one to call if someone wants to buy or sell in that area!

Jun 14, 2019 04:08 AM #2
Rainmaker
5,313,694
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Families on the move will appreciate your local market reports. 

Jun 14, 2019 07:12 AM #3
Rainmaker
1,873,875
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Good morning Jan Green - I think of Scottsdale, AZ as Arizonia's Scarsdale, NY.

Jun 14, 2019 08:28 AM #4
Rainmaker
1,177,774
Sheri Sperry - MCNE®
Coldwell Banker Residential Brokerage - Sedona, AZ
(928) 274-7355 ~ YOUR Solutions REALTOR®

HI Jan Green - This is a great area to live. When in the Scottsdale area, I am up and down Scottsdale Blvd.  One of my favorite places to shop is Kierland Commons.  Your clients will appreciate your knowledge of this area. 

Jun 14, 2019 02:24 PM #5
Rainmaker
972,729
Jan Green
Value Added Service, 602-620-2699 - Scottsdale, AZ
HomeSmart Elite Group, REALTOR®, EcoBroker, GREEN

Good morning to you Barbara Todaro !  Actually afternoon for you by now!  Thank you for commenting and have a great weekend!

Jun 15, 2019 11:20 AM #6
Rainmaker
972,729
Jan Green
Value Added Service, 602-620-2699 - Scottsdale, AZ
HomeSmart Elite Group, REALTOR®, EcoBroker, GREEN

Thank  you Kat Palmiotti .  Great hearing from you.  Have a wonderful weekend!

 

Jun 15, 2019 11:20 AM #7
Rainmaker
972,729
Jan Green
Value Added Service, 602-620-2699 - Scottsdale, AZ
HomeSmart Elite Group, REALTOR®, EcoBroker, GREEN

You're right Grant Schneider .  Working in Scottsdale always makes me feel like I'm on vacation with my clients when I show homes. It's much more fun! 

Jun 15, 2019 11:23 AM #8
Rainmaker
972,729
Jan Green
Value Added Service, 602-620-2699 - Scottsdale, AZ
HomeSmart Elite Group, REALTOR®, EcoBroker, GREEN

Hi Sheri Sperry - MCNE® !  When you come to Kierland next time call me. I live about a mile west of there!  Would love to see you.  Have a great weekend :)

Jun 15, 2019 11:23 AM #9
Rainmaker
1,982,430
Patricia Feager, MBA, CRS, GRI,MRP
DFW FINE PROPERTIES - Southlake, TX
Selling Homes Changing Lives

Jan Green - I remember Scottsdale back in the early 1990s. I'm sure it is as beautiful today as it was then with more gorgeous homes and excellent opportunities for home ownership. Nobody sells Scottsdale better than Jan Green, Value Added Service, 602-620-2699!

Jul 04, 2019 10:37 AM #10
Rainmaker
972,729
Jan Green
Value Added Service, 602-620-2699 - Scottsdale, AZ
HomeSmart Elite Group, REALTOR®, EcoBroker, GREEN

Thank you Patricia Feager, MBA, CRS, GRI,MRP ! Yes, Scottsdale was maybe 1/3rd the size it is today!  I started coming here in 1987 and still remember the dirt roads to nowhere and those areas are now built up solidly.  If you ever make it back here - give me a call and we'll have a meetup with others in the area!  Have a wonderful 4th!

Jul 04, 2019 03:51 PM #11
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Rainmaker
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Jan Green

HomeSmart Elite Group, REALTOR®, EcoBroker, GREEN
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