September sales activity dropped compared to August, but it looks like October is going to be a much better month. Let’s jump into our Gainey Ranch market report which covers sales through the end of September. Active listings have increased over the past 30 days–there are currently 14 active listings with one price reduction so far. The active listings have been on the market for an average of 78 days.
There are seven pending sales ranging in price from $1,250,000 to $2,250,000. The pending sales have been on the market an average of just 36 days. Since September 1, 2023, there have been only two sales–interestingly, one was on the market 348 days and one for only 1 day. The average sale price per square foot was $564 and the average list to sale price ratio was .92.
With the return of winter visitors, we typically see a spike in sales activity and while October sales look promising, we will have to see how things go this winter. Interest rates are quite high and across the county, housing inventory is on the rise. If you have a question about Gainey Ranch, Scottsdale real estate or any property/community in the Phoenix metro area, please reach out any time. Thank you for reviewing our Gainey Ranch market report for September 2023.
