Since our report last month, inventory levels in Gainey have increased. As of May 30, 2024, there are 27 of active listings which have been on the market for an average of 68 days. Let’s dig into our Gainey Ranch market update for May 2024. Properties under contract have decreased slightly as have overall sales in the past 30 days.
Active listings range in price from $487,000 to $4,250,000. There are eight properties under contract and no “coming soon” listings. Increasing inventory is a trend that we are seeing not only in Scottsdale, but across the Phoenix metro area.
This graph shows how the number of active listings has changed in the 85258 zip code.
Since May 1, 2024 there have been four closed sales which were on market an average of 38 days–down from 49 days the previous month. Here are some other stats for recently closed sales:
- Average sold price per square foot: $624
- Average list to sale price ratio: .95
- Average sold price: $1,250,000
With inventory levels rising, rates remaining high and temperatures increasing, we should see a continued slow down in Gainey Ranch. Thank you for reviewing our Gainey Ranch market update for May 2024. If you have any questions about Gainey Ranch real estate for sale, please reach out anytime.
