In the past 30 days, activity in Gainey Ranch has been incredible. There are currently 24 active listings which have been on the market an average of 86 days. Let’s get into our Gainey Ranch market update for February 2024. Last month there were 17 active listings–we’ve seen a 30% jump in available properties. The average asking price per square foot is $589–down $10 in the past 30 days.
There are 16 pending sales ranging in price from $495K to $2.55M. Pending sales have been on the market for an average of just 25 days! Since February 1, 2024, there have been 10 closed sales–this figure up from January. Here are a few other key MLS statistics for recently closed sales:
- Average days on market: 31 (down from last month)
- Average sold price per square foot: $581 (up from an average of $540 for 2023)
- Average sale price: $1,363,500
- Average sold to list price ratio: .99 (up substantially from 2023)
We are in prime selling season for Gainey Ranch, Scottsdale and the rest of the Phoenix metro area. Although rates are still high, we expect brisk sales activity to continue for a few more months–though homes that are not updated may sit a bit longer. Thanks for reviewing our Gainey Ranch market report!
