Active listings have increased over 30% since last month. Here is our Gainey Ranch market update for October 2024. Currently there are 32 active listings ranging in price from $494,500 to $3,390,000–the active listings have been on the market for an average of 61 days. There are eight properties under contract and just one “coming soon” listing. Pending sales have been on the market for an average of 47 days.
From October 1, 2024 to October 31, 2024, there have been four sales. Here are some stats for recently closed sales:
- Average days on market: 106
- Average list to sale price ratio: .92
- Average sold price per square foot: $509
Scottsdale, in some areas, is experiencing a weak sellers market–trending towards a flat market or buyer’s market in most other parts of the city. With the contract ratio dropping in most areas, we will likely see Scottsdale in buyer’s market very soon. Most the Phoenix metro area is in either a flat market or a buyer’s market–though parts of the City of Phoenix are still experiencing a weak seller’s market. Of course a rate drop will have some positive effect for sellers, but for now, it looks like a good time to buy.
