As always I am busy in the Arizona Multiple Listing Service (ARMLS) looking up information for clients. It’s seriously a very powerful search tool, not just for finding specific properties but for noticing trends also.
I decided to pick a few of the more prominent North Scottsdale Subdivisions and list just how many homes are active currently for sale as of today Monday June 27th 2011.
Inventory By Subdisvision
These are properties for sale only, all property types, fully active, no contingencies.
Scottsdale Ranch
All Properties: 24 Lender Owned: 0
DC Ranch
All Properties: 54 Lender Owned: 1
Silverleaf
All Properties: 45 Lender Owned: 4
Estancia
All Properties: 19 Lender Owned: 2
Desert Mountain
All Properties: 145 Lender Owned: 4
Troon
All Properties: 32 Lender Owned: 2
Estancia
All Properties: 44 Lender Owned: 3
Grayhawk
All Properties: 46 Lender Owned: 5
In general the amount of bank owned properties seems to be falling. In fact in zipcode 85255 only 34 lender owned properties are active for sale out of 524 active listings, that’s 6.5%. Once a subdivision has no distressed properties for sale whatsoever we may see prices rise for conventional sales.