by Dru Bloomfield on November 3, 2008
This morning, the updated Scottsdale real estate reports from Altos Research showed a nice surprise. Sustained improvement in the Scottsdale 85258 market, for single family homes. Looks like a true supply and demand curve. Inventory decreases – prices increase.
The condo market in the same zip code has a totally different look. The median list price for condos is increasing, as inventory increases.
This is one of those trends to keep an eye on. With the significant commercial development going on to the east of this zip code, homes in this area should maintain their values better than many other areas.
Major subdivisions in Scottsdale 85258 include: McCormick Ranch, Gainey Ranch, and Scottsdale Ranch.
by Dru Bloomfield on April 11, 2008
Home listing prices are increasing, decreasing, and holding steady, depending on which Scottsdale zip code you live or are looking to live in. I’ve put the following chart together (courtesy of Altos Research), so that you can see what’s been going on over the past year.
For instance, in far north Scottsdale (85262), the median list price actually started rising last last year and now exceeds what it was a year ago. On the other hand, Scottsdale 85254 (which is a Scottsdale zip code mostly located in the City of Phoenix), has seen a drop of over $75,000 in median list price. For the most part, the other zips are holding steady or seeing small decreases.
(Zip code 85266 is a new zip code that was split off from 85262 in July 2007, so the statistics are off and appear to normalize about October 2007.)
I’ve also included a zip code map of Scottsdale, so you can see where these particular zips are located.
You will also notice, that for the most part, lower home prices are in the southern part of the city and increase significantly as you move north.
I’ll be sharing more of these statistics soon, so if there’s a particular area in Scottsdale or a parameter (like how long it’s taking to sell a house) that you are interested in, just let me know and I’ll make that my next focus.
