The zip code 85254 is known as "the magic zip code" for several reasons. The zip code enjoys being linked to Scottsdale, thanks to the post office, but has Phoenix municipal services and is in the Paradise Valley School District. All positive for this west section of Scottsdale.
This zip code has great shopping and entertainment destinations. Pictured above is Scottsdale Quarter, across the street from Kierland Commons and the Westin Kierland, a shopping and dining mecca!
Active listings are down 60% year over year for January 2021. This is a trend occuring all over the Maricopa County area. This area is in a mid section of Scottsdale, but is technically Phoenix on a map :) Starting out with 32 active listings in 85254, there isn't much to choose!
Interesting that 35% of the sales in 85254 are sold over list price, another valley wide trend. By price range, the highest sale over list price sells in the $2.5 to $3 million range.
The The median sales price for a single family home in 85254 is $627,000, up 13% from $543,5000 in January 2020. This new high surpasses the highest price in 85254, occuring in August, 2006 when prices reached $555,000.
To put 20 years of sales into perspective in 85254, this chart reflects that the most sales for single family homes occurred in April, 2005 with 1141 sales. Of the 886 sales in December, 2020, only one home was owned by a bank and sold.
Prices continue their upward climb in 85254. Knowing the under contract price per square foot helps when negotiating sales for buyers and sellers!
If you or someone you know is interested in buying or selling a home in the Phoenix Metro Area, rely on someone who understands the market and how to negotiate in this frenzied housing market!