As we mentioned last month, sales activity did drop in July. Let’s jump into our Gainey Ranch market update for July 2023. There are currently 8 active listings ranging in price from $869,000 to $4.145M–the active listings have been on the market for an average of 85 days. There is one “coming soon” listing. While total sales declined last month, August has brought more activity with six pending sales.
To see how Gainey Ranch compares to the rest of the 85258 zip code, this graph shows the change in the number of pending sales for the past two years:
Since July 1, 2023 there have been just two closed sales–the average days on market was 24, while the average dollars per square foot obtained at sale was $487. The list to sale price ratio was .98. By the looks of it, August will be a busier month than July in terms of sales. Overall, inventory around Scottsdale and the Phoenix metro area is fairly low–just like in Gainey Ranch. Perhaps we’ll see more inventory hit the market later in the year. If you have questions about property values or market conditions, please reach out anytime. Thank you for reviewing our Gainey Ranch market update for sales through July 2023.
