It’s hard to believe we’re already into June. Here is our Gainey Ranch real estate report showing sales data through the end of May, 2023. There are currently 10 active listings ranging in price from $639,900 to $5.25M. The active listings have been on the market for an average of 78 days. There are six pending sales (down 40% from last month) and there are no “coming soon” listings. As expected, inventory has dropped–this is a trend we’re seeing in Scottsdale and all over the Phoenix metro area.
Since May 1, 2023 there have been nine closed sales ranging in price from $675,000 to $4.2M. Here are some MLS stats for recently closed sales:
- Average days on market: 69–up from 55 last month
- Average sold price per square foot: $532–down from $573
- Average list to sale price ratio: .94
The overall absorption rate for Gainey Ranch is slightly over two months and the contract ratio is 60%–up slightly from 59% last month. We expect sales in Gainey to slow for the next 90 to 120 days and then pick up in the early fall–of course, this summer could always turn out to be a surprise. If you need help buying or selling in or around the Gainey Ranch area, please give us a call–we’d be honored to assist you.
