As predicted, Gainey Ranch inventory, like the rest of Scottsdale and the Phoenix Metro area is on the rise. Last month there were 4 active listings at the end of the month. As of May 28, there are currently 14 active listings, seven pending listings and nine closed sales since May 1, 2022. The active listings have been on market an average of 27 days and the average asking price per square foot is $600.
The recent sales range in price from $505,000 for a 2BR condo at the courts to $2.9M for a golf course home in North Meadow II. The average days on market for recently sold properties was 22 and the average dollars per square foot obtained at sale was $595.
As interest rates climb and sellers look to capitalize on existing demand before the market turns, we expect more inventory to hit the market. Prices will likely start to fall as we head into summer. Thanks for reviewing my Gainey Ranch market update. If you have questions about Gainey Ranch properties or real estate in Scottsdale or Paradise Valley, please reach out any time.
