Sales activity has been on fire the past 60 days–let’s jump into our Gainey Ranch market report for April 2024. In our February post, we noted that inventory levels were rising in Gainey Ranch, Scottsdale and across the county. As of April 29, there are 20 active listings ranging in price from $787,900 to $4.9M–the active listings have been on the market for an average of 95 days. There are 10 pending sales and one “coming soon” listing.
Since March 1, 2024, there have been 25 closed sales. Here are some key MLS stats for those recently closed sales:
- Average days on market: 49
- Average sold price per square foot: $555
- Average list to sale price ratio: .95
- Average sale price: $1,077,160
The average days on market for sold listings is up 36% while the average sold price is down 22% from the end of February. The average list to sale price ratio is down from .99–the increase in available inventory has given buyers more leverage.
Despite high mortgage rates and rising inventory levels, we expect sales activity to be good until the end of May. Thank you for reviewing our Gainey Ranch market report. If you have any questions about Gainey Ranch properties for sale or questions about selling your Gainey Ranch home, condo or townhome, reach out anytime.
