North Scottsdale Median Price Rose 10% in One Month?!

North Scottsdale Median Price Rose 10% in One Month?!

The North Scottsdale real estate market is killing it! The seven zip codes which comprise North Scottsdale are currently showing a monthly median sales price of $715,000. One month ago, the median sales price was $650,000. This is a median increase of $65,000 in one month! Yes, you heard me correctly, the North Scottsdale median sales price rose $65,000 – 10% – in one month.

Listing inventory in North Scottsdale has plummeted. One year ago, North Scottsdale home inventory was at 1409. This year, there are only 1044 homes currently for sale in North Scottsdale – a 26% drop!

How about North Scottsdale rentals? Rising to record lease prices, North Scottsdale home rental prices just hit $1.45 per square foot (psf) this September. This is .06 cents psf higher since last month and a rise of .17 cents psf in one year – a 13% rental price increase.

North Scottsdale Friday Focus – 85254 Market Update

North Scottsdale Friday Focus – 85254 Market Update

The 85254 zip code is one of North Scottsdale’s great central locations, however there is a not-so-dirty little secret about what’s known as the “magical zip code.” The 85254 zip is not in Scottsdale but is in the City of Phoenix and includes Phoenix city services. And the school district? It’s in the Paradise Valley School District. So why is it called Scottsdale? Mailing only. Talk to the postal service.

All of that doesn’t change what a cool place it is for many who call it home.

It’s also exploding in value, with prices up 22% in one year! The supply of homes for sale has dropped in half from 170 one year ago to 112 this month – a 34% inventory drop.

Today Last Month Last Year 1 Year Change
Active Listings: 112 117 170 -34%
Pending Listings 40 37 52 -23%
Sales Per Month 84 110 79 +06%
Sales Per Year 854 849 807 +06%
Months of Supply 1.3 1.1 2.2 -41%
Appreciation – Median* 22% 15% 11% +100%
Average Price – Sales** $665K $606K $543K +22%
Median Price – Sales*** $627K $593K $515K +22%

*Monthly Median

**Monthly Average

***Monthly Median

All Data courtesy of the Cromford Report

Considering Buying or Selling in North Scottsdale or the Northeast Valley. Give Mike a call at 602.689.3100 or send an email to: [email protected]

The Bodeen Zip Line Report – 06/01/2015

85254 – Zip Line Report

North Scottsdale zip code 85254, known as “The Magical Zip Code,” is showing that listings have increased compared to last summer but modestly. Pending Sales are up 33% over 2014 and likewise over 2013. Home sales have increased 17% and the median sales price increased 9% compared to 2014.

                                             2015              2014                2013

Active Listings:                     308                 281                 186

Pending Listings:                 60                   45                   44

Sales Per Month:                 77                   66                   104

Sales Per Year:                     752                 719                 966

Median Price:                       $413k            $378k             $391k

 

85255 – Zip Line Report

One of the strongest and most popular North Scottsdale zip codes is 85255 and the recent numbers for these communities suggest it’s remaining so. For example North Scottsdale 85255 currently has 72 pending sales compared to 57 last year, an increase of 26%. Sales have likewise increased. The 2015 median sales price increase over last year is among the strongest in Scottsdale at 26%.

                                              2015              2014                2013

Active Listings:                     629                 509                 371

Pending Listings:                 72                   57                   73

Sales Per Month:                 86                   74                   91

Sales Per Year:                     901                 896                 1045

Median Price:                       $765k            $633k            $685k

 

85258 – Zip Line Report

The Ranches and Lakes of Scottsdale which include McCormick Ranch, Scottsdale and Gainey Ranches, Lake Serena, Mountainviewlake, and the Bay Club is one of Scottsdale’s most attractive communities, especially if you like the colors of green and blue. Like North Scottsdale’s 85255 zip communities 2015 is having a strong sales year as well. With Pending home sales up 25% over last year and a sales increase of close to 10%, these special communities have soared in their median price – now at $601,000 compared with $520,000 in 2014 – an increase of 16%.

                                              2015              2014                2013

Active Listings:                     175                 146                 111

Pending Listings:                 24                   18                   23

Sales Per Month:                 42                   38                   36

Sales Per Year:                     367                 379                 413

Median Price:                       $601K                        $520k            $480k

 

85259 – Zip Line Report

Though you won’t hear it called this, the 85259 zip code is really “East” Scottsdale as it

                                              2015              2014                2013

Active Listings:                     258                 230                 157

Pending Listings:                 36                   33                   39

Sales Per Month:                 53                   38                   43

Sales Per Year:                     426                 425                 501

Median Price:                       663k               $595k            $530k

 

85260 – Zip Line Report

Perhaps North Scottsdale’s most central and (next to 85254) it’s most affordable zip code. The median price is pretty much mirroring August of last year, while sales were exactly the same from last year at 48 for the month.

                                              2015              2014              2013

Active Listings:                     222                 215                 145

Pending Listings:                 32                   33                   37

Sales Per Month:                 52                   48                   48

Sales Per Year:                     524                 481                 579

Median Price:                       $447k            $423k            $430k

 

85262 – Zip Line Report

North Scottsdale’s most expensive and one of its nicest community’s, the median price is up slightly from last year. Pending listings are down slightly.

                                              2015              2014              2013

Active Listings:                     522                352                 308

Pending Listings:                 42                   35                   40

Sales Per Month:                 40                   32                   42

Sales Per Year:                     398                 420                 467

Median Price:                       $697k            $740k            $735k

 

85266 – Zip Line Report

These very popular and upscale communities which are the North of North Scottsdale, and which is home to the newest zip code being added to Scottsdale, has seen appreciation of almost 20% from one year ago. Pending sales and August sales are down slightly from one year ago.

                                              2015              2014             2013

Active Listings:                     274                 150                 121

Pending Listings:                 32                   18                   20

Sales Per Month:                 40                   21                   25

Sales Per Year:                     279                 268                 374

Median Price:                       $650k            $735k            $620k

 

85253 (Paradise Valley) – Zip Line Report

The Valley’s most upscale, prestigious, and expensive town currently has 274 homes for sales compared to 150 one year ago. That’s interesting because usually when you get that much of an inventory increase, prices tend to go down. Not so in this case.  Pending sales are way up (32 vs 18).

The median sales price is currently $1,450,000 – up a whopping 17% from one year ago.

                                              2015              2014             2013

Active Listings:                     423                 301                 258

Pending Listings:                 38                   19                   24

Sales Per Month:                 37                   22                   30

Sales Per Year:                     338                 352                 386

Median Price:                       $1,450k         $1.235k         $1.270k

 

85268 (Fountain Hills)  – Zip Line Report

Scottsdale’s most immediate eastern neighbor is accurately named for its mountain slopes and town fountain. For those wanting a small town feel, it doesn’t get much better than here.

2015             2014             2013

Active Listings:                     175                 236                 193

Pending Listings:                 24                   21                   27

Sales Per Month:                 42                   32                   43

Sales Per Year:                     367                 450                 531

Median Price:                       $601k            $369k            $375k

 

85331 (Town of Cave Creek) – Zip Line Report

Cave Creek has done a great job of standing strong in value. The median sales price of $424,000 for August is up 13% from 2013 and pending sales are about the same as last year too.

     2015              2014             2013

Active Listings:                     366                 292                 243

Pending Listings:                 55                   58                   59

Sales Per Month:                 75                   56                   61

Sales Per Year:                     664                 609                 697

Median Price:                       $420k            $424k            $375k

 

85377 (Carefree) – Zip Line Report

The delightful and small town of Carefree is almost too small to accurately compare year to year stats. Having stated that, sales are slightly up from August 2014 at 60 – this compared to 115 one year ago. The median sales price brings one word to mind: BARGAIN!

                                               2015              2014              2013

Active Listings:                     122                 114                 92

Pending Listings:                 18                   6                      12

Sales Per Month:                 12                   6                      14

Sales Per Year:                     77                   87                   104

Median Price:                       $689k            $642k            $773k

 

85086 (Anthem – North Phoenix) – Zip Line Report

Welcome to newer homes with beautiful mountain views in an unspoiled north Phoenix environment. These communities are the bargains of the north valley. Prices are affordable and only a 30 minute drive time to Sky Harbor Airport. Inventory is down from last year, pending sales are up dramatically (61%) from one year ago and the median sales price has increased by 8%.

                                              2015              2014              2013

Active Listings:                     307                 376                 281

Pending Listings:                 106                 66                   101

Sales Per Month:                 98                   96                   122

Sales Per Year:                     948                 936                 1273

Median Price:                       $297k             $275k            $275k

 

*With thanks to Michael Orr and the Cromford Report for the Statistics used.

 

The Bodeen Zip Line Report – 11/01/2014

85254 – Zip Line Report

Active and Pending Listings are virtually unchanged from one year ago.  Sales are down while the median price has risen 10%.

 Currently              Last Year              Change

Active Listings:         256                 vs        257                             Down Negligibly

Pending Listings:     38                   vs        36                               Up Slightly

Sales Per Month:     61                   vs        63                               Down Slightly

Sales Per Year:         716                 vs        932                             Down Significantly

Median Price:           $425k             vs        $385k                        Up Significantly

 

85255 – Zip Line Report

This premier North Scottsdale zip code is showing active listings up and Pending listings down. Sales increased this last month versus last year, but are down 17% from last year.

 Currently              Last Year              Change

Active Listings:         563                 vs        468                             Up Significantly

Pending Listings:     46                   vs        69                               Down Significantly

Sales Per Month:     71                   vs        68                               Up Slightly

Sales Per Year:         861                 vs        1,036                         Down Significantly

Median Price:           $637k            vs        $617k                        Up Slightly

 

85258 – Zip Line Report

Including the Ranches of McCormick, Scottsdale, and Gainey, listings are down 11% over last year, while the median price is showing an 8% gain over 2014.

 Currently              Last Year              Change

Active Listings:         127                 vs        154                             Down Significantly

Pending Listings:     13                   vs        22                               Down Significantly

Sales Per Month:     35                   vs        29                               Up Slightly

Sales Per Year:         385                 vs        410                             Down Significantly

Median Price:           $500k            vs        $465k                         Up Significantly

 

85259 – Zip Line Report

Listings are up 15% from last year, while Pending listings are the same. Annual sales are lower as well and the median price has dropped 10%.

 Currently              Last Year              Change

Active Listings:         242                 vs        211                             Up Significantly

Pending Listings:     21                   vs        21                               No Change

Sales Per Month:     34                   vs        41                               Down Slightly

Sales Per Year:         409                 vs        522                             Down Significantly

Median Price:           $556k            vs        $585k                        Down Slightly

 

85260 – Zip Line Report

Sales are doing very well this year, and are up 7% over last year. The median price however has dropped 9% from one year ago.

 Currently              Last Year              Change

Active Listings:         199                 vs        192                             Up Slightly

Pending Listings:     24                   vs        29                               Down Slightly

Sales Per Month:     47                   vs        30                               Up Significantly

Sales Per Year:         504                 vs        470                             Up Significantly

Median Price:           $415k            vs        $457k                        Down Significantly

 

85262 – Zip Line Report

North Scottsdale’s most expensive and one of its nicest community’s, the median price is down 24% from last year. Pending listings are down as well.

 Currently              Last Year              Change

Active Listings:         445                 vs        402                             Up Significantly

Pending Listings:     24                   vs        35                               Down Significantly

Sales Per Month:     22                   vs        32                               Down Significantly

Sales Per Year:         405                 vs        558                             Down Significantly

Median Price:           $654k            vs        $860k                        Down Significantly

 

85266 – Zip Line Report

These very popular and upscale communities which are the North of North Scottsdale, and which is home to the newest zip code being added to Scottsdale, has seen appreciation of 8% from one year ago. Pending sales are down slightly and homes sales have dropped significantly from one year ago.

 Currently              Last Year              Change

Active Listings:         201                 vs        166                             Up Significantly

Pending Listings:     17                   vs        27                               Down Significantly

Sales Per Month:     20                   vs        16                               Up Slightly

Sales Per Year:         266                 vs        356                             Down Significantly

Median Price:           $722k            vs        $668k                        Up Significantly

 

85253 (Paradise Valley) – Zip Line Report

The Valley’s most upscale, prestigious, and expensive town currently has 347 homes for sales compared to 299 one year ago – an increase of 16%. Closed and Pending sales in Paradise Valley are off slightly from one year ago.

The median sales price is currently $1,763,000 having jumped significantly, as in 55%! Paradise Valley has recorded the largest median home price gain of any Arizona city.

 Currently              Last Year              Change

Active Listings:         347                 vs        299                             Up Significantly

Pending Listings:     22                   vs        23                               Down Negligibly

Sales Per Month:     28                   vs        30                               Down Negligibly

Sales Per Year:         341                 vs        386                             Down Significantly

Median Price:           $1.763k         vs        $1.138k                     Up Significantly

 

85268 (Fountain Hills) – Zip Line Report

Scottsdale’s most immediate eastern neighbor is accurately named for its mountain slopes and town fountain. For those wanting a small town feel, it doesn’t get much better than here. Listings and Pending listings are up over one year ago. The median price adjusted 3% lower.

 Currently              Last Year              Change

Active Listings:         302                 vs        271                             Up Significantly

Pending Listings:     26                   vs        14                               Up Significantly

Sales Per Month:     38                   vs        24                               Up Significantly

Sales Per Year:         450                 vs        514                             Down Significantly

Median Price:           $402k            vs        $415k                        Down Slightly

 

85331 (Town of Cave Creek) – Zip Line Report

Cave Creek has done a great job of standing strong in value. The median sales price of $461,000 is up 16% from 2013 and pending sales are down slightly from last year.

 Currently              Last Year                 Change

Active Listings:         320                 vs        290                             Up Significantly

Pending Listings:     33                   vs        39                                Down Slightly

Sales Per Month:     41                   vs        56                                 Down Significantly

Sales Per Year:         604                 vs        705                              Down Significantly

Median Price:           $461k            vs        $398k                         Up Significantly

 

85377 (Carefree) – Zip Line Report

The delightful and small town of Carefree is almost too small to accurately compare year to year stats. Having stated that, sales are way down at 73 this year compared to 110 one year ago. The median sales price increased 23% over one year ago.

 Currently              Last Year              Change

Active Listings:         85                   vs        79                               Up Slightly

Pending Listings:     7                      vs        4                                  Up

Sales Per Month:     5                      vs        7                                  Down

Sales Per Year:         73                   vs        110                             Down Significantly

Median Price:           $732k            vs        $595k                        Up Significantly

 

85086 (Anthem – North Phoenix) – Zip Line Report

These communities remind me of North Scottsdale back in the mid 90’s – newer homes with beautiful mountain views in an unspoiled northern environment. These are the bargains of the valley. Prices are so affordable and only a 30 minute drive time to Sky Harbor Airport. Prices are virtually unchanged from one year ago, with sales being down 23%.

 Currently              Last Year              Change

Active Listings:         350                 vs        344                             Up Slightly

Pending Listings:     63                   vs        67                               Down Slightly

Sales Per Month:     71                   vs        64                               Up Slightly

Sales Per Year:         932                 vs        1210                          Down Significantly

Median Price:           $273k            vs        $269k                        Up Slightly

 

*With thanks to Michael Orr and the Cromford Report for the Statistics used.

The Bodeen Zip Line Report – Real Estate Market Update – North Scottsdale Zip Codes  and Surrounding Communities

The Bodeen Zip Line Report – Real Estate Market Update – North Scottsdale Zip Codes and Surrounding Communities

Blog Image - NorthScottsdaleNews

85254

Home sales bottomed out in March of this year and have increased since then peaking in July. The magical 85254 zip code real estate market dropped back in July registering 66 sales, compared with 104 from one year ago. The median priced sale in July was $378,000, down from the same month last year.

Currently                   Last Year

Active Listings:         281                 vs        186

Pending Listings:     45                   vs        44

Sales Per Month:     66                   vs        104

Sales Per Year:         719                 vs        966

Median Price:           $378k            vs        $391k

 

85255

The median sales price in the very popular 85255 Zip Code for August 2014 was $633,000. This is an 8% drop over August of last year and a 1% drop from last month. Sales took an 8% drop from 91 sales last August 2013 to 74 last month – a 19% decrease.

Currently                   Last Year

Active Listings:         509                 vs        371

Pending Listings:     57                   vs        73

Sales Per Month:     74                   vs        91

Sales Per Year:         896                 vs        1045

Median Price:           $633k            vs        $685k

 

85258

Including The Ranches of McCormick, Scottsdale, and Gainey, listings are up 31% over last year, while the median price is showing an 11% gain over August 2014.

Currently                   Last Year

Active Listings:         146                 vs        111

Pending Listings:     18                   vs        23

Sales Per Month:     38                   vs        36

Sales Per Year:         379                 vs        413

Median Price:           $520k            vs        $480k

 

85259

Well, if we had an East Scottsdale, it would include the 85259 Zip which extends from 104th Street to Fountain Hills and has a portion of Scottsdale Ranch, south of Shea. These communities, mostly developed in the late 80’s and 90’s are very popular with year-rounders as well as snowbirds. The median price is up 12% from this time last year. Current listings are up 46% from last year – no supply problem here!

Currently       vs        Last Year

Active Listings:         230                 vs        157

Pending Listings:     33                   vs        39

Sales Per Month:     38                   vs        43

Sales Per Year:         425                 vs        501

Median Price:           $595k            vs        $530k

 

85260

Perhaps North Scottsdale’s most central and (next to 85254) it’s most affordable zip code. The median price is pretty much mirroring August of last year, while sales were exactly the same from last year at 48 for the month.

Currently       vs        Last Year

Active Listings:         215                 vs        145

Pending Listings:     33                   vs        37

Sales Per Month:     48                   vs        48

Sales Per Year:         481                 vs        579

Median Price:           $423k            vs        $430k

 

85262

North Scottsdale’s most expensive and one of its nicest community’s, the median price is up slightly from last year. Pending listings are down slightly.

Currently       vs        Last Year

Active Listings:         352                 vs        308

Pending Listings:     35                   vs        40

Sales Per Month:     32                   vs        42

Sales Per Year:         420                 vs        467

Median Price:           $740k            vs        $735k

 

85266

These very popular and upscale communities which are the North of North Scottsdale, and which is home to the newest zip code being added to Scottsdale, has seen appreciation of almost 20% from one year ago. Pending sales and August sales are down slightly from one year ago.

Currently       vs        Last Year

Active Listings:         150                 vs        121

Pending Listings:     18                   vs        20

Sales Per Month:     21                   vs        25

Sales Per Year:         268                 vs        374

Median Price:           $735k            vs        $620k

 

85253

(Paradise Valley): The Valley’s most upscale, prestigious, and expensive town currently has 301 homes for sales compared to 258 one year ago. Closed and Pending sales in Paradise Valley are off slightly from one year ago.

The median sales price is currently $1,235,000 — virtually unchanged from one year ago.

Currently       vs        Last Year

Active Listings:         301                 vs        258

Pending Listings:     19                   vs        24

Sales Per Month:     22                   vs        30

Sales Per Year:         352                 vs        386

Median Price:           $1.235k         vs        $1.270k

 

85268

(Fountain Hills): Scottsdale’s most immediate eastern neighbor is accurately named for its mountain slopes and town fountain. For those wanting a small town feel, it doesn’t get much better than here.

Currently       vs        Last Year

Active Listings:         236                 vs        193

Pending Listings:     21                   vs        27

Sales Per Month:     32                   vs        43

Sales Per Year:         450                 vs        531

Median Price:           $369k            vs        $375k

 

85331

(Town of Cave Creek): Cave Creek has done a great job of standing strong in value. The median sales price of $424,000 for August is up 13% from 2013 and pending sales are about the same as last year too.

Currently       vs        Last Year

Active Listings:         292                 vs        243

Pending Listings:     58                   vs        59

Sales Per Month:     56                   vs        61

Sales Per Year:         609                 vs        697

Median Price:           $424k            vs        $375k

 

85377

(Carefree) The delightful and small town of Carefree is almost too small to accurately compare year to year stats. Having stated that, sales are way down from August 2013 at 60 – this compared to 115 one year ago. The median sales price brings one word to mind: BARGAIN!

Currently       vs        Last Year

Active Listings:         74                   vs        63

Pending Listings:     4                      vs        4

Sales Per Month:     5                      vs        7

Sales Per Year:         69                   vs        115

Median Price:           $537k            vs        $850k

 

85086

(Anthem – North Phoenix) These communities remind me of North Scottsdale back in the mid 90’s – newer homes with beautiful mountain views in an unspoiled northern environment. These communities are the bargains of the valley. Prices are so affordable and only a 30 minute drive time to Sky Harbor Airport. Prices are unchanged from one year ago, with sales being down 26%.

Currently       vs        Last Year

Active Listings:         376                 vs        281

Pending Listings:     66                   vs        101

Sales Per Month:     96                   vs        122

Sales Per Year:         936                 vs        1273

Median Price:           $275k            vs        $275k

 

*With thanks to Michael Orr and the Cromford Report for the Statistics used.