The torrid pace of Scottsdale home sales in Gainey Ranch that we saw materialize last year has maintained its fever pitch year-to-date 2013. With 59 sales on the Ranch through the first week of August, we’re on a pace to sell 96 homes this year – a very strong year! This would eclipse last year’s sales number of 82 homes.
The average sales price is up 19% ($626,600 versus $525,900) and the average “dollars per square foot” is up 11% ($246 versus $222).
The only potential damper on this strong market is the relative lack of inventory . . . we have only 33 active listings at this time in all of Gainey Ranch. If this number remains low, the laws of supply and demand will no doubt continue to move prices upward. Buyers will frown and Sellers will keep that smile on their face!