85266 is found on the northwest portion of Scottsdale, just to the east of North Phoenix and just south of Carefree and Cave Creek. Just like the other North Scottsdale zip codes, 85266 is home some of the top Scottsdale golf communities including Whisper Rock, The Boulders and Terravita. The elevation of 85266 is higher than many parts of the Valley, so a number of homes and lots in the area have wonderful city light views.
Here are the Q1 2012 home sale results for zip code 85266. The sales data has been split into three different sales types which are described below:
– Non-Distressed Sales – These are what you think of when you think of a “normal” sale. It follows the traditional model where the home seller and home buyer agree to price and terms and at the end of the transaction, ownership is transferred to the buyer.
– Short Sales – A short sale occurs when an owner would like to sell the home, but needs to sell it for less than what is owed on it. In this case, third party approval has to be secured from the lender or lenders. Short sales fall under the “distressed sale” umbrella.
– Foreclosures – These properties have been foreclosed on and ownership has reverted to the lender. These are also considered “distressed sales.”
Overall Findings for the Scottsdale Zip Code 85266 Home Sales Market for Q1 2012 – Data as of March 31, 2012
- Active Scottsdale 85266 Homes For Sale: 92% of homes on the market at the end of Q1 were “regular” sales. The very small remainder was split between the two distressed sale categories.
- 85266 Pending Homes for Sale: Regular sales did not lose much ground when you look at the pending activity and the end of the quarter. Typically, you see a larger percentage of short sales and foreclosures in the pending mix.
- Q1 2012 Scottsdale 85266 Home Sales: Actual Q1 sales resulted in 72% of sales falling into the non-distressed category. Short sales and foreclosures were more heavily represented, highlighting the popularity of distressed sales with homebuyers.
- 85266 Home Prices: Pricing for the various types came out as would be expected. Average sales prices on regular sales were the highest, followed by short sales and foreclosures.
- Cumulative Days on Market: As we would anticipate, short sales had the longest days on market because of the longer sales process. Sometimes we do see foreclosures with shorter days on market in comparison to regular sales, but for Q1, regular sales had the shortest time on market.
- Discounts Off of List Price: Buyers of non-distressed homes saw an average discount of 5% off of asking. This is the same as it was at the end of the year. Buyers of distressed homes saw a larger discount than they did in Q4 2011, with an average of 5% off on short sales and an average of 2% off of foreclosures.
SUMMARY – 2011 Scottsdale Home Sales in Zip Code 85266
Below is a summary of 2011 home sales in 85266. The quarterly sales data has been broken down by home sale type.
If you would like to see this information for the City of Scottsdale AZ, please see these previous reports:
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 85266 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