Scottsdale Ranch Market Report
Each issue we will report on the previous period’s activity. This issue reflects activity for October and November of 2009. • There are currently 76 Active Listings in Scottsdale Ranch – up from 65 in last month’s report and 68 in the previous report. • For October/November the average square footage price for Active Listings was $230.89. This is noteworthy because the last four period reports were $248.88, $244.32, $240.71 and $236.59. • The average square footage price for Closed Sales for October/November was $182.18 – another noteworthy figure when you look at the last four reports of $193.90, $217.43, $202.51 and $175.91. In the October/November period we had 6 Closed Sales and 18 Pending /AWC (Active With Contingencies – means it is under contract but there are contingencies with the contract that have not been taken care of yet and the property is still being marketed for backup offers). For the past four periods we have reported between 20-25 in the Closed/Pending category. This category has been amazingly steady through the year. Here is some insight into the other figures . . . actual sale price by square foot amount has gone down throughout the year as the inventory slowly decreased. For the most part, the sold properties were those that either listed at a competitive price or eventually dropped their price to one the market was willing to pay. Sales have been steady because once properties reached the price point of the actual market (the price buyers were willing to pay), they were gobbled up. There probably could have been more sales except many of the new listings that came on the market in the past few months have been very aggressively priced. This is not reading the market properly. As we close in on year-end, we’re seeing significant price reductions in listing prices. If this had been done earlier, there would have been more sales. Now, many of these reductions are just “chasing the market” – lowering their price but still staying above the actual market. We think “year-end” mentality will be reflected in our next report for the last month of the year and there may even be a more cautious approach by buyers to start the year. As always, if you need a market analysis or help in buying or selling real estate, give us a call. For over 23 years we have helped our clients achieve their real estate goals in residential, land, commercial and investment properties.
www.ThePeggyRauchGroup.com
Peggy Rauch
Michael Meinerz
Peggy@PeggyRauch.com
Michael@PeggyRauch.com
602.206.3336
602.882.0075
7001 N. Scottsdale Rd. #1020 • Scottsdale, AZ 85253 If your home is currently listed, this is not a solicitation for that listing.
January 2010
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REAL ESTATE ACTIVITY IN PENDING SALES Address Sq. Ft. / Bed / Bath Price/Sq. Ft. List Price 9708 E. Via Linda #1311 1038 / 2 / 2 $173 $179,999 10080 E. Mountain View Lake Dr. #323 1152 / 2 / 2 $234 $269,900 9463 N. 105th Pl. 1610 / 3 / 2 $174 $279,900 9803 N. 100th Pl. 1989 / 2 / 2 $163 $325,000 10591 E. Mission Ln. 1898 / 3 / 2 $171 $325,000 10545 E. Bella Vista Dr. 2106 / 4 / 2 $157 $330,000 10545 E. Mission Ln. 2121 / 4 / 2 $165 $350,000 10552 E. Bella Dr. 1900 / 3 / 2 $210 $399,000 10431 N. 105th Way 2262 / 3 / 2 $188 $425,000 10178 E. San Salvador Dr. 2968 / 4 / 3 $150 $444,900 9780 E. Gold Dust Ave. 3079 / 5 / 3.5 $158 $485,100 9688 E. Cinnabar Ave. 2354 / 3 / 2 $219 $515,000 10266 E. Caron St. 2353 / 4 / 2.5 $223 $525,000 9822 E. Doubletree Ranch Rd. 3600 / 4 / 2.5 $166 $599,000 10064 E. Turquoise Ave. 1800 / 2 / 2 $347 $625,000 9180 N. 106th Pl. 4145 / 5 / 3.5 $151 $624,900 9822 E. San Salvador Dr. 3482 / 4 / 2.5 $194 $675,000 CLOSED SALES Address Sq. Ft. / Bed / Bath Price/Sq. Ft. Sold Price COE 10080 E. Mtn. View Lake Dr. #D212 1081 / 2 / 2 $167 $180,000 10/12/09 10080 E. Mtn. View Lake Dr. #G214 1152 / 2 / 2 $169 $195,000 10/27/09 10564 E. Saddlehorn Dr. 2186 / 3 / 3 $128 $280,000 10/01/09 10548 E. Mission Ln. 2121 / 4 / 2.5 $215 $455,000 11/12/09 10447 N. 107th St. 4760 / 5 / 4 $129 $615,000 11/05/09 10401 N. 100th St. #8 3100 / 4 / 3 $285 $885,000 10/29/09 All information is deemed reliable but not guaranteed. The properties on this list have been listed/sold by various participants in the MLS.
Produced by Desert Lifestyle Publishing • 480.460.0996 • www.DesertLifestyle.net
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