With the advent of covid-19, our market (generally speaking) has taken a turn. Let’s jump into our Gainey Ranch Market Update for April 2020 and see how things have changed from last month.
The good news for Gainey Ranch residents is that sales are still continuing at a pretty good clip–though that will likely change soon.
As of April 30, 2020, there are 26 active listings, 6 properties under contract and since March 30, there have been no less than 11 sales.
The active listings have been on market for an average of 67 days while the pending sales have been on market for an average 137 days. For the closed sales, the average sale price was $643,246. On average, sellers took three percent off the asking price in order to affect a sale. The average dollars per square foot for the sold properties was $327 and the average days on market was 86.
Here is a graph showing supply vs demand in the Scottsdale 85258 zip code:
Final thoughts
With temps reaching triple digits, winter visitors are heading home. The Gainey Ranch market always slows a bit during the summer months and given the prolonged “lock-down”, we expect sales to drop off sharply. Hopefully this Gainey Ranch market update for April 2020 has been helpful.
If you have a real estate question or need, do not hesitate to reach out.
