The 85262 zip code occupies a large portion of North Scottsdale. This premier location makes it a perfect fit for some of the top, luxury golf communities, including Desert Mountain, Mirabel, Troon North, Legend Trail and Estancia.
The northern position and hillier terrain of 85262 means it can actually be a few degrees cooler in the warm summer months, which is a nice bonus. In addition, many homes and homesites in are privy to excellent city light and mountain views.
This report covers first quarter 2012 activity for home sales in 85262. I have split the information into three categories and have defined them below.
– Non-Distressed Sales – These are the “regular” sales of homes. In this traditional sales model, the buyer and seller agree to the terms of the sale.
– Short Sales – In a short sale, the homeowner is looking to sell the home for less than what is owed on the home. Here, third party approval is required in order for the sale is to take place.
– Foreclosures – Foreclosures are just what they sound like, homes that have been through the foreclosure process and now are back with the lender. These homes are also called “Lender-Owned” homes, “REO'” homes or “Bank-Owned” homes.
Overall Findings for the Scottsdale Zip Code 85262 Home Sales Market for Q1 2012 – Data as of January 1, 2012
- Active Scottsdale 85262 Homes For Sale: Almost all of the homes for sale in 85262 (94%) were regular sales. The small remainder was almost evenly split by short sales and foreclosures.
- 85262 Pending Homes for Sale: The ratios shift dramatically however, when you look at pending sales. Now, regular sales drop to 69% and you see the large jump in representation for short sales, in particular.
- Q1 2012 Scottsdale 85262 Home Sales: Regular sales gained some traction back, at 75% of sales in Q1, but you can still see the effect the popularity of distressed sales has.
- 85262 Home Prices: Prices are aligned as we would expect them to see. Average sales price and average price per square foot were highest with regular sales, second highest with short sales and foreclosures came in with the lowest figures.
- Days on Market: This is also what we would expect to see. Foreclosures, due to high demand, are only on the market for about 3 months. Whereas short sales, with the longer sales process, had an average days on market of 334.
- Discounts Off of List Price: These figures, while tightening up in other areas, remained more or less where we saw them throughout 2011. Regular home sales going for about 10% off of asking price and distressed sales going at about a 5% average discount.
Scottsdale Zip Code 85262 – 2011 Home Sales by Quarter
For comparison purposes, here is a quarterly recap for home sales for 2011 in Scottsdale zip code 85262.
To see this same information for the entire City of Scottsdale AZ, please visit these previous reports:
View Scottsdale Home Sales by Type 2011
View Scottsdale Home Sales by Type for 2010
View Scottsdale Home Sales by Type for 2009
Disclaimer: Due to rounding issues, not all columns will add up to 100%. Data and information were pulled from the Arizona Regional MLS (ARMLS) as of 3/31/2012 and can change at any time. The analysis looks at single-family resale homes for sale and sales in Scottsdale AZ zip code 85262 for Q1 2012. There may be new home inventory in these figures if the developer is using the MLS to market its homes. Information deemed reliable but not guaranteed.
Copyright © 2012 Heather Tawes Nelson