Here is an overview of real estate activity in the Scottsdale zip code of 85266 for the second quarter of 2013.
Scottsdale’s 85266 zip code is one of the most northern zip codes in the city. In this area, housing tends to lean more to single-family homes versus multi-family developments. A large part of 85266 is open desert and the rolling hills and washes are almost everywhere you look.
Although many homes are on standalone lots, there are quite a few communities as well, both big and small. If you are looking for horse property, many lots in 85266 qualify. If you are a golfer, 85266 is home to three excellent golf communities including Terravita, Whisper Rock and The Boulders.
Below are the 2013 home sales statistics for 85266. The information has been divided into three sales types that are defined below:
– Non-Distressed Sales – These home sales are “normal” or “regular” home sales. This traditional sale is between a buyer and seller with no third party approval necessary.
– Short Sales – Short sales require a third party approval as the home is worth less than its sale price and the seller is asking the lender to forgive and approve the difference in price. Short sales are considered distress sales.
– Foreclosures – These homes have been through the foreclosure process and have reverted back to the lender. Foreclosures are also considered distress sales.
Overall Findings for the Scottsdale Zip Code 85266 Home Sales Market for Q2 2013 – Data as of July 1, 2013
- Active Scottsdale 85266 Homes For Sale: Virtually every home on the market in 85266 at the end of the second quarter was a regular sale. Only 5 homes in total fell into the distressed category.
- 85266 Pending Homes for Sale: Looking at pending sales at the end of the quarter, distress sales made up a larger portion of the mix at 18%.
- Q2 2013 Scottsdale 85266 Home Sales: As we examine the homes sold in Q2, again the bulk of the activity, 95%, was for regular homes.
- 85266 Home Prices: Average home prices and average cost per square foot came out as we would expect to see it. Regular sales had the highest in both categories, followed by short sales and then foreclosures.
- Cumulative Days on Market: Typically, short sales have the longest time on the market as they take longer to close, but in Q2 in 85266, foreclosures were the highest and all three sales types had similar days on market averages.
- Discounts Off of List Price: Short sales on average ended up selling for over asking price. Buyers of regular homes saw an average of 3.5% off of asking price and foreclosure purchasers saw a 4.7% discount.
Scottsdale Zip Code 85266 Home Sales First Half 2013
Sales activity picked up as we moved from Q1 to Q2 with Q2 sales being almost double that of Q1.
We also saw the mix of sale type shift as the year progressed. Non-distressed sales went from 87% of sales in Q1 to 95% of sales in Q2.
SUMMARY – 2012 Scottsdale Home Sales in Zip Code 85266
Here is a snapshot of the same information quarterly for 2012. At the end of 2012, only 79% of sales were non-distressed. By the end of Q2 2013, that number moved up to 92%.
Click Here to Search Homes for Sale in 85266
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 and 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 85266 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
