You will find the 85266 zip code in North Scottsdale, above the Loop 101 freeway. It comprises an area that is north of the 85255 zip code, but is south and west of 85262. Like the other North Scottsdale zip codes, 85266 is located at a higher elevation and therefore some homes enjoy lovely city light and valley views. There is a lot of natural desert land that has been preserved, so residents get to enjoy the undeveloped vistas.
Much of 85266 is comprised of standalone homes and smaller subdivisions. However, there are three well-known larger golf communities located there. They include Terravita, Whisper Rock and The Boulders.
85266 HOME SALES INFORMATION
The home sales data for the first quarter has been divided into three sales types, of which there are two “distressed” sale categories.
– Non-Distressed Sales – These are the “normal” or “regular” home sales that most people are familiar with.
– Short Sales – Short sales occur when a home is worth less than the loans out on it. In order for the home to sell, a third party who holds a lien on the home must grant approval. Short sales are distressed sales.
– Foreclosures – Here the home has been foreclosed on and the person who owned the home no longer has a stake in it. This is the other distressed category.
Overall Findings for the Scottsdale Zip Code 85266 Home Sales Market for Q1 2013 – Data as of April 1, 2013
- Active Scottsdale 85266 Homes For Sale: The majority of homes (96%) on the market at the end of the quarter were regular sales.
- 85266 Pending Homes for Sale: We did see an uptick in the short sale category when you look at the pending sales.
- Q1 2013 Scottsdale 85266 Home Sales: Regular sales made up a significant amount of the sales in Q1 with 87%. This is up quite a bit compared to the 76% it was at the end of Q4 2012.
- 85266 Home Prices: As would be expected, average price per square foot was highest with normal sales. However, short sales came in below foreclosures for the same metric. This is unusual as foreclosures are usually the lowest, but we have been seeing this happen recently.
- Cumulative Days on Market: Foreclosures had the highest number of days on market in Q1. Usually short sales have the highest number.
- Discounts Off of List Price: As we have seen elsewhere for Q1, short sales on average sold above the asking price at 102.5%. A very small average discount was seen on foreclosures. Regular sales came in with an average discount of about 5%.
Comparison: Scottsdale Zip Code 85266 Home Sales for 2012
Here is the same data for the entire year of 2012. While sales price and average discount off of asking price haves stayed more or less level, we have seen the average price per square foot increase and days on market decrease quite a bit in Q1 2013.
To see this same analysis for the entire City of Scottsdale AZ, please visit this previous report:
View Scottsdale Home Sales by Type for 2012
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 and 4/1/2013 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. This post represents the opinion of the author. No warranties express or implied.
Copyright © 2013 Heather Tawes Nelson