New!!! Real Estate Market Trends by Zip code

Jun 17, 2014 by

June 2014 Market Update

 

Paradise Valley Luxury Market has had a steady Sales Volume increase. The price per square foot has been increasing since mid 2011 with prices averaging $325/SF in 2014.  Price reductions continue to go down, now averaging about 10%.  Price reductions hit a high from 2009 to 2010, when foreclosures were the norm but with the market returning to normal, Sellers are now getting close to their asking price.

Paradise Valley 85253 Luxury Trends 2008_2014

Paradise Valley 85253 Luxury Trends 2011_2014

 

North Scottsdale, 85255, sales volume has been in a slight upward trend since 2008. The Average Sale Price/SF was pretty flat during 2009-2012, but has been in an up trend since 2013.  In 2011 Average Sales Price per square foot was $250/SF and is now $300/SF on average. The Average Price Reductions have decreased over the past 3 years, from 15% to an average of 5%. This means that Sellers are getting closer to what they are asking for.

Scottsdale 85255 Luxury Trends 2008_2014

Scottsdale 85255 Luxury Trends 2011_2014

 

Central Scottsdale, Shea Corridor area, 85259,  sales volume has been in an upward trend since 2011, like other parts of Scottsdale. The Sales Price per Square Foot has seen a slight increase since 2011, going from an average of $190/SF to $230/SF in recent months.  Like other luxury markets the average price reductions have decreased, now averaging between 5%-10%.

Scottsdale 85259 Luxury Trends 2008_2014

Scottsdale 85259 Luxury Trends 2011_2014

 

North Scottsdale, 85260, has also seen an increase in sales volume since 2010. The Sales Price per square foot for this zip code has been pretty steady since mid 2012, averaging $204/SF, while price reductions have gotten smaller with a tighter variation. However the last couple months of 2014, have shown to have a slight increase in days on market and price reductions.

Scottsdale 85260 Luxury Trends 2012_2014

Scottsdale 85260 Luxury Trends 2008_2014

 

North Scottsdale, Pinnacle Peak Area, 85262 has shown an increase in sales volume since the end of 2011. There has also been a slight increase in price per square foot since 2012, and a decrease in price reductions since the end of 2011, with a much tighter variation than before.  Prices are averaging $300/SF in this area with price reductions between 5%-10% in recent months.

Scottsdale 85262 Luxury Trends 2012_2014

Scottsdale 85262 Luxury Trends 2008_2014

 

 

 

 March 2012 Market Update

In Paradise Valley, the Sale Price per Square Foot has been bumping along the bottom since September of 2010. It’s still a great time for buyers to get the most for their money.

2012_04_18_RE_Mkt_Trends_85253

North Scottsdale, Pinnacle Peak area, 85255,  Sales Price per Square Foot has been bumping along the bottom since November 2010.  This is good news for buyers looking in this area. The data shows that the difference between asking price and selling price has tightened up since mid 2011 in this zip code.

2012_04_18_RE_Mkt_Trends_85255

North Scottsdale, Shea Corridor area, 85259,  Sales Price per Square Foot has been bumping along the bottom since September 2010.  This is good news for buyers looking in this area.  The data in this market shows that the difference between asking price and selling price has tightened up since January 2011.

2012_04_18_RE_Mkt_Trends_85259

North Scottsdale, 85260, Sales Price per Square Foot has been on an upward trend since May 2011, an indication that the market may be recovering in this area. The data in this market shows that the difference between asking price and sale price has tightened up since August 2011.

2012_04_18_RE_Mkt_Trends_85260

North Scottsdale, 85262, Sales Price per Square Foot has been bumping along the bottom since September of 2010.

2012_04_18_RE_Mkt_Trends_85262

Overall there are good news in Real Estate for both Buyers and Sellers as evidenced by the market data. Great time for Buyers to get the most value and for Sellers to get their asking price.