The community of DC Ranch, including Silverleaf, had only 6 sales in the month of November, representing $9.235 million in sales. The November sales number is significantly lower than the monthly average sales rate of 13.5 homes so far this year. In October, there were 17 sales in DC Ranch and Silverleaf.
Sales prices ranged from $522,000 for a 2,477 square foot detached home in the Parks and Manor neighborhood in Desert Park Village, to $3,560,917 for a 6,882 square foot new construction custom home in the Parks neighborhood in Silverleaf Village.
The average days on market of the 6 homes that sold in November was 304 days. On average, the homes sold within 2% of their list price. This number was skewed by the new construction home, which sold for almost $400,000 (11.4%) over the list price. Eliminating this sale from the calculation, the remaining 5 homes sold on average within 5% of their list price.
The highest sales price for the year in DC Ranch still stands at $8.25 million – this was a custom home in the Upper Canyon of Silverleaf, which sold in September.
There has been a significant increase in the number of homes that have sold over the $5 million mark this year compared to recent years. Six properties have already closed escrow for over $5 million this year, and there are currently 3 homes under contract in Silverleaf with list prices over $5 million.
A total of 149 homes have sold this year through the end of November, and these homes have sold on average within 4% of their list price so far this year.
There was one lot sale in November – a 0.61 acre lot in Silverleaf’s Arcadia neighborhood, selling for $550,000.
Sales generally slow in the 85255 zip code at the end of the year, and the holidays are typically to blame. There appears to be an oversupply of active listings right now: with 140 active listings in all of DC Ranch as of today’s date, and 74 home sales in the last 6 months, this represents a 11.3 month supply of active listings.
There are current 23 homes currently under contract. Well-priced, well-conditioned, and well-marketed properties are still selling at a premium. Contact me today about marketing your home in today’s competitive marketplace.
Looking for DC Ranch or Silverleaf homes for sale? Reach out to me at 480-360-0281 or fill out the contact form below to make an appointment to view properties. I am a DC Ranch real estate specialist, and I live in the community, too.
Realtor | Founder
The Matheson Team – RE/MAX Fine Properties
21000 N. Pima Rd., #100, Scottsdale, AZ 85255