Scottsdale Estates (85251) Real Estate Market Update for September, 2016

Scottsdale Realtor Geoff Lilienfeld reviews the Scottsdale Estates real estate market for homes in the 85251 zip code.  We review active listings for homes for sale in Scottsdale Estates as well as homes that have recently sold in Scottsdale Estates.

Read the transcript here:

Hi, this is Geoff Lilienfeld with The Kay-Grant Group. We are Scottsdale Realtors. We have a strong focus on the Downtown / Old Town Scottsdale area. Today we're going to take a look at the Scottsdale Estates real estate market, specifically the part of Scottsdale Estates that falls into the 85251 ZIP Code. Scottsdale Estates is a very large community. We want to make sure that we really focus on the kind of specific neighborhood when we take a look at it. If we start by taking a look at the active listings, we can see that there's presently a total of thirteen active listings on the market. Eight of those are three bedroom houses and Scottsdale Estates. The other five of them are four bedroom homes.

They're both kind of similarly priced per square foot. Two hundred seven dollars per square foot is the average for the four bedrooms, where we have two ten for the three bedrooms. Of course, just a single home can skew the numbers one way or the other. Really, they're very similarly priced. Since there's a decent number of transactions, let's take a look at the activity by quarter. We'll not that they're three bedroom homes in the third quarter so far of 2016. We've seen eleven three bedroom homes sell. The average price per square foot of those homes was two hundred one dollars and thirty-nine cents. We also had a couple two bedroom homes sell, which are a little bit rarer in Scottsdale Estates. We saw three of those sell at an average price of a hundred eighty-five dollars and twenty-six cents a square foot.

Let's take a quick look here at what's been happening very recently. Since we don't have all of September data available yet, let's not take a look at September. We'll look at everything else. Let's look here. In August, as far as those three bedrooms, we saw four of them sell. Average days on market being ninety-one, on an average price per square foot of a hundred ninety-nine dollars and thirty-eight cents. If we continue to look at three bedrooms, in July we see that average price per square foot was closer to two hundred two dollars, and in June, a hundred sixty-seven. Of course, there's varying sizes of homes in Scottsdale Estates.

If we take a look at kind of the overall price per square foot, the price trend, we see some pretty extreme upward trajectory. Back in June, we were closer to this hundred fifty-nine dollars per square foot in ... I'm sorry. This is January of 2015. Then we kind of saw that just go up throughout 2015. Kind of steady off towards the end of 2015, and then in 2016, we saw it kind of continue back on that upward path. You know, June of 2016 was a slow time for Scottsdale in general, as is generally with Arizona and the Valley as a whole. We do see those numbers starting to climb back up. For September, we don't have too many transactions on the books yet, as we're only halfway through, so the numbers aren't really worth looking at. We can definitely see that Scottsdale Estates, in terms of the 85251 ZIP Code, definitely, over the last two years has had a pretty strong upward trajectory, so that's really good.

As far as the number of transactions, kind of all over the board. We've been seeing a pretty good amount this summer. In general, it looks like these do a decent number of transactions during the summer, which for condos in Scottsdale is less common. Scottsdale Estates is single family homes. That does make sense, since a lot of people do like to move during the summer when their kids aren't in school.

If you have any questions about Scottsdale Estates or Scottsdale real estate in general, please definitely give us a call. You can call us at 480-387-3990. You can also take a look at our website at Kay-Grant.com. We do have all of the Scottsdale Estates listings on our website. If you go there, you can see everything that's currently for sale in Scottsdale Estates. We'd also love to help you with a free home valuation. If you're interested in finding out what your home is worth, please give us a call. You can also text that number. My wife is the best person to contact by email. Her email is Andrea@kay-grant.com. Thank you so much. Again, if there's anything at all to do to help you with your real estate needs, please contact us.

 

Find Out What Your Home is Worth

You can use our website to search Scottsdale homes for sale or contact us and we'll create a custom search for you and tell you what your home is worth.  Call Andrea Lilienfeld at 480-387-3990 or e-mail andrea@kay-grant.com