With few exceptions, the slowdown in the Phoenix Metro residential real estate market is impacting virtually all Valley communities. Today, we’re going to look at the North Scottsdale market to see how it’s fairing.
Currently, Valley sales are down 11% compared to one year ago. North Scottsdale sales are down by 19% while all of Scottsdale is down 14% for the same time period, but the percentages for each North Scottsdale zip code are across the board.
Values are holding their own and no North Scottsdale zip code has decreased in value, though two have registered no gain. The most expensive North Scottsdale neighborhood is 85255 ($280 PSF) followed by 85262 ($253 PSF)
The average sales price change from one year ago ranges from no gain (85259 and 85262) to double digit gains for 85255 and 85258 (11% and 13% respectively). The 85258 zip code community includes McCormick Ranch, Scottsdale Ranch, Gainey Ranch down to Indian Bend. (Basically, Shea Blvd south to Indian Bend and Scottsdale Road east to the 101 and continuing along Shea to 106th St).