Since last month, inventory has risen even further in Gainey Ranch–this trend is true in Scottsdale and the Phoenix metro area. Let’s get into our Gainey Ranch market report for June 2022.
Active listings have gone from 14 to 17 in the past 30 days–one of the active listings was on market, but fell through and another has undergone a price reduction. There are seven properties under contract with two more coming to market in the next month or so.
In the past 27 days there have been three closed sales with an average days on market of 94. Here are a few other stats for recently closed sales:
- Average list to sale price ratio: .98 (sellers are now starting to make price consessions)
- Average dollars per square foot at sale: $630
This graph shows how the average sold price has changed for 85258 over the past two years–prices are beginning to level off.
We expect inventory in Gainey Ranch to remain elevated for at least the next few months if not longer. As mortgage rates continue to rise, sales activity will likely decline. Thanks for reviewing our Gainey Ranch Market Report for June 2022. If you have a question about Scottsdale real estate, reach out anytime.
