Summer is fading away and it’s time for our Gainey Ranch market update for August 2021. As of 8/16/2021, there are seven active listings ranging in price from $799K to $2.39M and seven properties that are under contract. Since June there have been 23 closed sales ranging in price from $399K to $1.75M.
The average days on market for recently closed sales is 31–compare this to 41 days on market back in May. The average sale price over the last 60 days is $772,435 and the list to sale price ratio remains steady at .99. The average price per square foot obtained at sale has risen from $382 to $422. The chart below shows how the average price per square foot (sold properties) has changed in the 85258 zip code since 2019.
As we had predicted, inventory levels in Scottsdale have risen and this is true for Maricopa County as well. As we move into the fall and winter, we expect more Gainey Ranch inventory to hit the market and while prices may continue to rise, the pace will be more modest than the last 12 months. Thanks for reviewing our Gainey Ranch market update for August 2021. If you have any questions about Gainey Ranch or Scottsdale real estate, reach out anytime–we’d be honored to help.
