You will find the 85262 zip code at the farthest north point of Scottsdale. A large portion of 85262 has not been developed so residents can really enjoy and appreciate the natural landscape. As you go further north into Scottsdale, the elevation increases, which can result in temperatures being a few degrees cooler in the warmer months.
Home choices in 85262 tend to be single-family or patio homes that are either standalone or are part of a larger community. Many of Scottsdale’s most prestigious golf clubs and communities are located in 85262, including Estancia, Troon North, Legend Trail, Mirabel and Desert Mountain.
The home sale sales data has been broken into three sales types and they are each explained below:
– Non-Distressed Sales – These sales are “normal” or “regular” home sales.
– Short Sales – Short sales are one of the distress sale types. In these sales, the home will be sold for less than what it owed. In order for this to happen, the third-party lienholder needs to approve the price and terms of the sale before it can take place.
– Foreclosures – This is the other distress sale type. Here the home has been foreclosed on and the lienholder now ‘owns’ it. You may hear these homes called “Lender-Owned,” “REOs,‘” or “Bank-Owned.”
Scottsdale Zip Code 85262 Home Sales for Q2 2013 – Data as of July 1, 2013
- Active Scottsdale 85262 Homes For Sale: The vast majority of homes for sale at the end of Q2 were regular home sales (96%.) The remainder was an almost even split of short sales and foreclosures.
- 85262 Pending Homes for Sale: Distress sale homes made up a larger portion of pending home sales at the end of Q2 with 18% of the category, illustrating buyer demand for these types of homes.
- Q2 2013 Scottsdale 85262 Home Sales: Regular home sales did go back up in proportion to 88%, but we did see a short sales come in with 7%.
- 85262 Home Prices: Normally, we see regular home sales with the highest average sales price and highest average cost per square foot. However, in Q2, foreclosures came in with the highest average sales price and second highest average price per square foot.
- Days on Market: This was a very interesting one. The average days on market for short sales was the lowest I have ever seen. These sales usually take several months to close. What was also of interest was the very high days on market for foreclosures. This number was impacted by one home that was on the market for over 800 days.
- Discounts Off of List Price: Buyers of regular homes saw an average of 6.2% off of asking price. On the distress sale side, we have been seeing discounts in the 2-3% range, but in Q2, buyers of these homes saw a much larger average discount – 8.5% on short sales and 10.8% on foreclosures.
Scottsdale Zip Code 85262 – 2013 Homes Sales Year-to-Date
Here is a recap comparing Q1 and Q2. Unlike other areas where we are seeing regular sales make up a larger portion of sales quarter after quarter, sales types here seem to be somewhat stable.
Scottsdale Zip Code 85262 – 2012 Home Sales by Quarter
Here is the same data, but for the year 2012. Over the course of the year, we did see the percentage of distress sales go down and regular sales increase.
For example, in Q1, regular sales made up 75% of all sales. In comparison, at the end of Q2 2013, that figure is now up to 88%.
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 85262 for Q2 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