The 85260 real estate market is one I know very well. I used to live there, before settling in 85258
I need to send some market reports to a great client of mine this evening so I thought I would make it in the form of a blog post
|90-day stats for Single Family properties in|
SCOTTSDALE, AZ 85260 as of May 10, 2013
|Median List Price:||$522,773||Average List Price:||$658,788|
|Total Inventory:||173||Price per Square Foot:||$197|
|Average Home Size:||2,671||Median Lot Size:||10,324|
|Average # Beds:||3.85||Average # Baths:||2.79|
|Homes Absorbed:||16||Newly Listed:||17|
|Days on Market:||96||Average Age:||23|
That’s a lot of data to take in. But i can summarize it fairly quickly.
Median price is off the bottom. It’s not rising like crazy. One thing to be aware of though is market speed is fastest in this area at the under $400,000 range. So lots of sales there are moving the median a little. (Compare with price per square foot which is showing more consistant growth).
Housing Inventory is nose diving. There is not a lot to choose from. Notes to sellers. Good time to sell from a sheer numbers point of view. Price fair and you will have multiple offers.
Days on The Market is still in decline as the balance swings from buyers to sellers.
The last chart is called market heat. Which is a custom indicator that Altos Statistics produce and is a mix of all the other indicators. I’m pretty sure it mainly maps price per square foot against inventory. But it’s certainly going up.