Last month we reported that sales activity was strong. Let’s take a look at our Gainey Ranch real estate update for May 2021.
As expected, the number of active listings has increased–currently there are seven active listings (double the number last month at the same time) and there are 10 properties under contract. The active listings have been on market for 28 days while the pending listings have been on market for 32 days.
Over the past 30 days, the average sale price increased though this number is always changing–especially when looking at stats from a micro level. As you can see below, the months’ supply of housing inventory in the 85258 zip code is still under one month.
Since last month, there have been seven sales ranging in price from $550,000 to $1,995,000. The average sold price was $993,556 and the average dollars per square foot obtained at sale was $384. As inventory has increased slightly, the average list price to sold price ratio has dropped from 1.0 to .99. Finally, the average days on market for recently sold properties was 41–up from last month.
Housing inventory in Scottsdale and the Phoenix metro area has increased some over the past 30 days. We expect that housing inventory may rise or at least stay at current levels through the summer. Thank you for checking out our Gainey Ranch real estate update for May 2021. If you have a question about Gainey Ranch real estate or need our help, please reach out anytime–we’d be honored to be of service.
