The 85255 zip code is located in North Scottsdale and covers a pretty large area north of the Loop 101. Housing options abound in 85255. There are everything from high-end condo communities with great amenities to large custom homes on multi-acre parcels. If you are a golfer, several top golf communities are located in 85255. They include DC Ranch and Silverleaf, Desert Highlands, Grayhawk, Troon Country Club and Pinnacle Peak Country Club.
Q2 2013 homes sales in 85255 -Real Estate Report
The home sales information has been broken into three sales types that are described below:
– Non-Distressed Sales – For these sales, the buyer and seller come to terms on the home sale and no outside approval is necessary. These are what I call “regular” or “normal” home sales.
– Short Sales – Short sales take place when the sales price of the home will be less than what is owed on it. In this case, a third party lienholder needs to approve the terms of the sale before it can close, as they will be taking a loss. Short sales are considered a type of distress sale.
– Foreclosures – Foreclosures are where the lienholder has taken back the home via the foreclosure process. Buyers of these homes negotiate with the lienholder who is acting as the seller in the transaction. Foreclosures are another type of distress sale.
Overall Findings for the Scottsdale Zip Code 85255 Home Sales Market for Q2 2013 – Data as of July 1, 2013
- Active Scottsdale 85255 Homes For Sale: 98% of all of the homes for sale at the end of Q2 in 85255 were regular sales. The small remainder was split between short sales and foreclosures.
- 85255 Pending Homes for Sale: Short sales had a higher representation in the pending sales category at the end of Q2 with 11%. Regular sales dropped to 87% and foreclosures continued with a very small 2% of pending sales.
- Q2 2013 Scottsdale 85255 Home Sales: Again, regulars sales dominated the sales mix in Q2 with 92%. Short sales still an impact with 7% and foreclosures were negligible with 1%.
- 85255 Home Prices: Regular sales had the highest average sales price and highest average cost per square foot, as we would anticipate. And although foreclosures had a higher average sales price, they had the lowest average cost per square foot.
- Cumulative Days on Market: The lender-owned homes went very quickly, with an average of 48 days on market. This shows the demand for these kind of homes. Short sales came in with average days on market at over six months.
- Discounts Off of List Price: On average, short sales in Q2 sold in excess of list price, coming in at 101.6%. Regular home buyers saw an average discount of 4.2% off of asking and purchasers of foreclosures saw an average of 2.8%.
Scottsdale Zip Code 85255 – Sales for First Two Quarters of 2013
Here are sales over the first two quarters of the year.
Sales activity picked up as the year progressed and regular sales became an even larger part of the sales mix, while foreclosures declined.
Scottsdale Zip Code 85255 – Sales Data By Quarter for 2012
Here are the sales figures by quarter for last year. As you can see, regular sales only accounted for 67% of all home sales in Q1 2012. But Q4, that percentage had climbed to 78%. In Q2 of 2013, it had reached 92%.
The majority of this growth came from fewer foreclosures in 85255.
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 7/1/2013 and can change at any time. The analysis looks at single-family resale homes for sale and sales in Scottsdale AZ zip code 85255 for Q2 2013 and for the year of 2013. 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 © 2013 Heather Tawes Nelson