The zip code 85254 is in the heart of the Phoenix/Scottsdale Metro Area. There are many unique aspects of this zip code. It has a Scottsdale address, but it's techically in Phoenix and receives City of Phoenix services. This area is serviced by Paradise Valley Schools, which rank highly. And the area has top rated retail, entertainment and is conveniently located between SR 51 and the Loop 101 for easy access to the city and to Phoenix Sky Harbor Airport.
The first graph reflects the housing inventory in 85254 for prices between $500,000 - $600,000. The number of Active listings is currently 55, effective 7/13/19. That's 40% more than a year ago when there were 33 homes for sale in this zip code.
The number of listings under contract has risen dramatically, peaking to 40 June 15, 2019. This is fairly normal as June and July are typically the highest volume sales months. BUT if you compare to that same time in 2018, there were 24 listings under contract. May, 2018 reflected a higher number under contract at 28. Current numbers are the highest since 2012 for this report.
But how long does it take these homes to sell? Currently, homes in 85254 priced between $500,000 - $600,000 will take 82 days to sell according to this chart.
The official bottom of the market for the Phoenix Metro Area was in 2011, but looking at this price range 2012 looks more like the bottom for hoems selling between $500,000 - $600,000. Currently, sales equal the exact same number they did a year ago for June, 188.
If you'd like to see statistics for other zip codes, cities and prices, give me a ring. And if you're looking to buy or sell homes in the Phoenix Metro Area, don't hesitate to call!
Graphs are provided by the Cromford Report. Duplication of these reports is copyright infringement.