The 85255 zip code covers a large portion of north and east Scottsdale and can be found just north of the top of the 101 loop. Several of the top private golf communities are found in 85255, including Troon Country Club, Desert Highlands, Grayhawk, DC Ranch and Silverleaf.
Housing options are abundant. There are several luxury condo and townhome communities all the way up to private gated estates on large lots.
Q2 2012 homes sales in 85255 -Real Estate Report
This report looks at sales broken out by the kind of sale they were. I have defined them as follows:
- Non-Distressed Sales – These are your "regular" home sales. Here the buyer and seller go into contract with each other to get the home sold. No outside approvals are necessary for the sale to complete.
- Short Sales – This is one of the two "distressed" categories. Here, the owner cannot sell the home for what is owed on it and will come up "short." In this case, the lienholder(s) need to approve any the terms of any sales contracts before the sale can complete.
- Foreclosures – This is the other "distressed" category. These are the homes that have been foreclosed upon and the homeowner no longer has any ownership. You may also hear these called "Lender-Owned" homes, "REO'" homes or "Bank-Owned" homes.
Overall Findings for the Scottsdale Zip Code 85255 Home Sales Market for Q2 2012 - Data as of June 30, 2012
- Active Scottsdale 85255 Homes For Sale: Almost all of the homes for sale in 85255 were regular, non-distressed sales.
- 85255 Pending Homes for Sale: Although short sales only made up 4% of the for sale inventory, they represented 23% of pending sales at the end of the quarter. Similarly, foreclosures, with only 2% of active inventory at the end of June, represented almost 10% of the pending sales.
- Q2 2012 Scottsdale 85255 Home Sales: Regular home sales accounted for almost 80% of all home sales in Q2 2012. Short sales came in next with 12% of all Q2 sales and foreclosures were 9%.
- 85255 Home Prices: As we would expect to see, regular sales had the highest average sales price as well as highest average price per square foot. And although the average price of foreclosures came in higher than short sales, they foreclosed homes were quite a bit larger and you can see the discount reflected in the lower average price per square foot.
- Cumulative Days on Market: Lender-owned homes had the quickest selling time followed by regular sales. Short sales came in with the longest days on market as getting the necessary approvals takes longer.
- Discounts Off of List Price: Homebuyers of regular sales enjoyed an average of 6% off of asking. Short sale buyers saw an average of 7% off of list, which is more than we usually see. Foreclosure homebuyers saw the smallest discount at 2% off of asking.
Scottsdale Zip Code 85255 - Sales for First Two Quarters of 2012
Here is a snapshot of Q1 and Q2 home sales activity for 85255.
Non-distressed sales took a larger share of the market as distressed sales inventory tapered off and demand for homes increased.
Scottsdale Zip Code 85255 - Sales Data By Quarter for 2011
Below is a quarter-by-quarter snapshot of home sales in 2011 for 85255.
If you would like to review this data for the City of Scottsdale AZ versus a single zip code, please visit these previous reports:
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 6/30/2012 and can change at any time. The analysis looks at single-family resale homes for sale and sales in Scottsdale AZ zip code 85255 for Q2 2012 and for the year of 2012. 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 © 2012 Heather Tawes Nelson