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May 2016 Scottsdale, AZ 85254 real estate stats

May 2016 saw a total of 98 home sales in the 85254 Zip code of Scottsdale.  As of this writing there are 295 active listings and 139 under contract within 85254, so the inventory levels are at 3 months worth of supply based on the May sales.  85254 encompasses an area roughly bounded by Shea Blvd on the south,Tatum Blvd on the west, Bell Rd and the CAP canal on the north and Scottsdale Road on the East in Scottsdale and NE Phoenix.   Some of the main attractions and destinations in 85254 include Kierland Commons, Westin Kierland ResortCrackerJax Family Fun Center, Orange Tree Resort, Excelling Paradise Valley Unified School District and Scottsdale School District schools and much more.  85254 has long been called the "magic zip code" in the real estate business for it's desirability.  For more information on the area as well as available homes, please  call me at 480-236-7374. 

Total May sales: 98
Average Price Per foot: $205.60

Sale price as a percentage of list price: 97%
Average sale price: $467,074
Average Days on market: 77


This breaks down by type as follows:

Single Family Detached Homes
Sales: 71
Average Price Per foot: $191.30
Sale price as a percentage of list price: 97%
Average sale price: $469,864
Average Days on market: 69


Condos and Townhomes:
Total sales :27
Average Price Per foot: $243.22
Sale price as a percentage of list price: 97%
Average sale price: $459,737
Average Days on market: 99

Prices for all properties ranged from $99,900 for a 1/1, 680 sq. ft. condo  to $3.2M for a  3/2.5, 3567 sq.ft. condo at Plaza Lofts at Kierland .   This months numbers demonstrate how much a single property can skew the numbers.  The high sale, at 3.2M and almost $900/ft have almost doubled the average sale price for condos and townhomes and bumped the price per foot by approximately a third.  When numbers return to normal next month without an outlier like this, an uneducated eye (or the media) will see only a tremendous downturn.  It always pays to look beyond the surface numbers.


Adam Tarr PC
Citywide Real Estate
480-236-7374

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