Here is an overview of home sales by type in the Scottsdale zip code of 85262. Sales for Q4 2013 will be included as well as a look at 2013 numbers as a whole.
You will find 85262 on the northern edge of Scottsdale. It located at a higher elevation than most other Scottsdale zip codes, so it can be a few degrees cooler in the warm summer months. You will find mostly single family homes in 85262, but there are also a few condo and townhome developments. A lot of 85262 is not developed, so you get to experience and enjoy the natural desert landscape.
Scottsdale is known for its excellent golf communities and many of them are located in this zip code. They include Desert Mountain, Mirabel, Troon North, Estancia and Legend Trail.
SCOTTSDALE ZIP CODE 85262 HOME SALES REPORT AND SALES TYPE DEFINITION
The first part of this report covers sales data for Q4 2013. Then, it will show the sales information for 85262 as a whole. The last section looks at 2013 homes sales on a quarterly basis.
The sales types for these home sales are defined below:
– Non-Distressed Sales -Non-distressed home sales are what you think of when you think about ‘normal’ or ‘regular’ sales. These are the traditional sales most people are familiar with.
– Short Sales – A short sale occurs when the market price of a home is less than what is owed on it. In this case, the homewoner has to get third party approval for the sale to go through. This is considered a distress sale.
– Foreclosures – Just like it sounds, these homes have gone through a foreclosure. The ownership has reverted back to the lienholder. You may also hear these referred to as “REO‘” homes, “Lender Owned” or “Bank Owned” homes. This is also considered a distress sale.
Scottsdale Zip Code 85262 Home Sales for Q4 2013 – Data as of January 1, 2014
- Active Scottsdale 85262 Homes For Sale: Virtually every home for sale at the end of Q4 was a regular sale, at 98%. The small remainder was split by short sales and foreclosures.
- 85262 Pending Homes for Sale: When looking at pendings, we see a larger distribution of distress properties, which moves up to 16% of the market.
- Q4 2013 Scottsdale 85262 Home Sales: Looking at Q4 sales, almost 90% of them were normal sales. Short sales came in next with 8%.
- 85262 Home Prices: As we would expect to see, the highest average sales price and average price per square foot was for regular sales. Short sales followed and then foreclosures.
- Days on Market: Typically, short sales have the longest time on the market, but in 85262 in Q4, they had the shortest time on market compared to the other two.
- Discounts Off of List Price: Usually, the largest discounts are seen with non-distressed sales with very small discounts seen on distressed sales. In Q4, this was not the case at all. Non-distressed sales had the lowest average discount off of asking price.
Scottsdale Zip Code 85262 – Homes Sales in 2013
Below is a recap of home sales in 85262 for the entire year.
As we would expect, the highest price per square foot is with regular sales followed by short sales then foreclosures. What is interesting to note is that average discounts off of asking were pretty level over all three categories. Usually you see the non-distressed sales with a larger average discount.
Scottsdale Zip Code 85262 – Quarterly Home Sales for 2013
Below, home sales activity has been broken out by quarter. Q2 saw a jump in sales, whereas the other three quarters remained pretty similar at about 100 home sold.
What is interesting to note is the ratio of regular sales/short sales/foreclosures stayed more or less the same over the course of the year, with foreclosures losing a little ground to short sales. Elsewhere, we have seen a trend where regular sales have grabbed a larger part of the market over the course of the year.
To see this same information for the entire City of Scottsdale AZ, please visit these previous reports:
View Scottsdale Home Sales by Type for 2012
View Scottsdale Home Sales by Type for 2011
View Scottsdale Home Sales by Type for 2010
Disclaimer: Due to rounding issues, not all columns will add up to 100%. Active s and pendings are based on figures at the end of the previous time period in question. Data and information were pulled from the Arizona Regional MLS (ARMLS) as of 1/1/2014 and can change at any time. The analysis looks at single-family resale homes for sale and sales in Scottsdale AZ zip code 85262 for Q4 2013 and 2013 in total. 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. This post represents the opinion of the author. No warranties express or implied.
Copyright © 2014 Heather Tawes Nelson | Joyce Tawes
