The 85255 zip code includes the DC Ranch area (as well as North Scottsdale communities of McDowell Mountain Ranch, Windgate Ranch, Grayhawk, Sonoran Hills, Troon, Desert Highlands, and the Pinnacle Peak area, to name a few.) Demand in this area continues to be down from last year (measured by closed transactions), but the number of active listings continues to fall as well.
The number of active listings in August 2014 was up 23% compared with August 2013. (There were 463 active listings in August of this year compared to 375 active listings in August 2013.) However, supply is down slightly from July 2014 – falling from 482 listings to 463 listings.
The median list price in August 2014 was $889,000, up from $815,000 in August 2013. The median sales price was $572,000 in August 2014, down from $650,000 in August 2013.
The number of days on market for sold homes was up 27% last month compared to one year earlier – rising to 121 days from 95 days.
The number of units sold decreased 11% year over year (79 units sold in August 2013 and 70 units sold in August 2014.) There was a 5% fall in units sold comparing August 2014 to July 2014.
The bottom line is that if you are looking to buy, this is a great time. There are lots of homes to choose from due to elevated supply levels.
If you are looking to sell, don’t despair. With 70 properties selling last month alone, your home can sell, too. The key is to make sure your home is well priced, well-conditioned, and that you have chosen the right real estate agent.
We are Scottsdale real estate agents who specialize in DC Ranch and the North Scottsdale area. Contact us for more information on market conditions, community information and DC Ranch homes for sale.
Realtor | Founder
The Matheson Team – RE/MAX Fine Properties
21000 N. Pima Rd., #100, Scottsdale, AZ 85255