Mike Orr at the Cromford Report continues to publish some of the best real estate sales data around for the Scottsdale and Phoenix areas. Today, I’m preparing a contract for a buyer and wanted to make sure I really had my finger on the pulse what sales prices have been doing in the area surrounding the home the buyers are planning to purchase. In completing my research, I pulled the following information out of one of the reports that ranks median price changes for each zip code in the valley. Here are the rankings for Scottdale single family homes:
Median Price Change by ZIP Code – Sep 2008
Single Family Detached
|
Ranking |
Zip |
Highest Annual Median |
Date of High Median |
Current Annual Median |
% Difference |
|
10 |
85255 |
$810,000 |
Oct-06 |
$716,500 |
-11.5% |
|
14 |
85260 |
$570,000 |
Feb-08 |
$499,700 |
-12.3% |
|
19 |
85262 |
$965,000 |
Feb-07 |
$819,500 |
-15.1% |
|
23 |
85258 |
$651,250 |
Sep-07 |
$550,000 |
-15.5% |
|
31 |
85257 |
$297,250 |
Jan-07 |
$245,000 |
-17.6% |
|
32 |
85250 |
$387,500 |
Mar-07 |
$319,000 |
-17.7% |
|
39 |
85259 |
$836,900 |
Dec-07 |
$680,000 |
-18.7% |
|
47 |
85254 |
$529,900 |
Oct-06 |
$425,000 |
-19.8% |
|
48 |
85251 |
$374,225 |
Aug-07 |
$300,000 |
-19.8% |
|
77 |
85266 |
$960,000 |
Oct-07 |
$721,500 |
-24.8% |
Based on information from the Arizona Regional Multiple Listing Service between Jan 1, 2001 and Sep 1, 2008 © 2008 www.cromfordreport.com
Probably one of the most interesting findings from this real estate report is that while the number of home sales started decreasing in 2005, most of the median high sales prices occurred in 2007.
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Real Estate Report: Scottsdale Home Price Changes by ZIP Code. Surprise. Many of highest median sales prices were in 2007 http://is.gd/aHze