Scottsdale Ranch May 10

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Scottsdale Ranch Market Report

Each issue we will report on the previous period’s activity. This issue reflects activity for February through March, 2010. • There are currently 83 Active Listings in Scottsdale Ranch up from 81 in last month’s report and 81, 77, 76 and 65 in the previous four reports. • For February/March the average square footage price for Active Listings was $225.92. The previous eight periods we reported on were $233.29, $237.41, $245.84, $230.89, $248.88, $244.32, $240.71 and $236.59. Last issue I suggested we were at, or close to, the bottom of the market for this area. The next couple of reporting periods as we head into the summer will be very telling I believe. • The average square footage price for Closed Sales for February/March was $176.98. The last four periods were reported at $162.02, $191.10, $194.62 and $182.18. In the February/March period we had 18 Closed Sales and 16 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). This could be a key figure. For more than a year we have reported between 20-25 in this category each and every period. This could be evidence that what Buyers are willing to pay and what Sellers are willing to settle for is more in concert than it has been in a long, long time. As I indicated in the section above regarding the square footage price, the next few reporting periods should be very telling. As we suggested last month, the number of Active Listings remains higher due primarily to the fact that during “the season” more people list their properties, and once again, we saw the square footage price for Active Listings go down. Last month we noted that the Closed/Pending category was staying steady. This month it was significantly higher. Clearly, Scottsdale Ranch continues to perform more consistently than the other Scottsdale communities. Last issue we mentioned that a strong selling trend during the next few months would make it clear that the market anticipates we are beginning the slow climb back up for property values. This month’s report is most supportive of that premise. As always, if you need a market analysis or help in buying or selling real estate, give us a call. For over 24 years we have helped our clients achieve their real estate goals in residential, land, commercial and investment properties.

www.ThePeggyRauchGroup.com

May 2010

FEATURED PROPERTIES

10390 E. Lakeview Dr. #201 3BD/3.5BA/3,248 SF/2G $799,000

10564 E. Mission Ln. 3BD/2.5 BA/2,434 SF/2G $399,000

10193 N. 103rd St. 2BD/2BA/1,918 SF/2G $750,000

SALE PENDING

10463 E. Fanfol 3BD/2 BA/1,866 SF/2G $349,900

10390 E. Lakeview Dr. #203 2BD/3BA/2,578 SF/2G $699,000

10325 E. Cinnabar 2BD/2BA/1,763 SF/2G $299,900

10080 E. Mountainview Dr. #260 2BD/2BA/1,298 SF/1G $498,999

REAL ESTATE ACTIVITY IN

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.

PENDING SALES Address Sq. Ft. / Bed / Bath Price/Sq. Ft. List Price 10080 E. Mountain View Lake Dr. #135 1152 / 2 / 2 $239 $275,000 10080 E. Mountain View Lake Dr. #338 1152 / 2 / 2 $248 $286,000 9457 N. 106th Pl. 1440 / 2 / 2 $211 $304,000 10451 E. Bella Vista Dr. 1769 / 3 / 2 $172 $305,000 10564 E. Bella Vista Dr. 2046 / 3 / 2 $169 $345,000 10463 E. Fanfol Ln. 1866 / 3 / 2 $188 $349,900 10552 E. Palomino St. 2046 / 3 / 2 $173 $354,000 10081 E. Turquoise Ave. 1800 / 2 / 2 $236 $425,000 10061 E. Cinnabar Ave. 1612 / 2 / 2 $279 $449,000 9822 E. Doubletree Ranch Rd. 3600 / 4 / 2.5 $163 $585,000 9605 N. 106th Way 3217 / 4 / 3 $183 $589,900 9822 E. San Salvador Dr. 3482 / 4 / 2.5 $194 $675,000 10645 E. Bella Vista Dr. 3490 / 4 / 3 $206 $719,000 10225 E. Cochise Dr. 4469 / 4 / 4 $491 $2,195,000 CLOSED SALES Address Sq. Ft. / Bed / Bath Price/Sq. Ft. Sold Price COE 10017 E. Mountain View Rd. #2075 968 / 2 / 2 $139 $135,000 3/29/10 10015 E. Mountain View Rd. #2029 NA / 2 / 2 $NA $160,000 2/19/10 10080 E. Mountain View Lake Dr. #130 1152 / 2 / 2 $139 $160,000 3/03/10 10015 E. Mountain View Rd. #1003 1708 / 2 / 2.5 $113 $193,000 2/25/10 9983 E. Sunnyslope Ln. 1871 / 2 / 2 $123 $230,000 2/25/10 9502 N. 106th Pl. 1964 / 3 / 2 $140 $275,000 3/22/10 10552 E. Bella Vista Dr. 1900 / 3 / 2 $171 $325,000 2/25/10 10675 E. Terra Dr. 2433 / 3 / 2 $174 $422,500 2/25/10 10672 E. Mission Ln. 3739 / 5 / 3.5 $120 $450,000 2/10/10 10075 E. Doubletree Ranch Rd. 2515 / 3 / 2 $197 $495,000 3/08/10 9921 E. Mission Ln. 4643 / 5 / 3.5 $122 $568,000 2/10/10 9902 E. San Salvador Dr. 3773 / 4 / 2.5 $151 $570,000 3/12/10 10536 N. 97th St. 3200 / 4 / 3.5 $178 $570,000 2/26/10 10057 N. 96th Way 3167 / 4 / 3 $194 $615,000 2/25/10 9030 E. Cerrito Dr. 3482 / 4 / 2.5 $187 $650,000 3/30/10 10111 E. Topaz Dr. 2516 / 3 / 2 $264 $665,000 3/12/10 10152 E. Topaz Dr. 2516 / 3 / 2 $368 $925,000 3/01/10 10575 N. 99th Pl. 4493 / 5 / 5 $228 $1,025,000 3/05/10

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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