The U.S. Census Bureau says the average American moves about a dozen times over their lifetime. And from the latest trends from Street Scout data, it looks like a lot of North Scottsdale homes are either up for sale or will be soon. Here is some information on the latest trends being observed in this area:
Sluggish Luxury Market in 2015
Whether it’s homes for sale in North Scottsdale or Paradise Valley or Cave Creek, values remained mostly flat last year, even though prices went up in other valley communities.
Last year, Scottsdale’s median home price was $450,000, unchanged from the year before. Paradise Valley saw a slight increase in its median sale price but Cave Creek values went down by nearly 2 percent last year.
Even though luxury homes are selling in North Scottsdale and other communities, it’s often taking more than a year to find a buyer. The good news for sellers is they’re still getting offers close to the asking price.
Luxury Home Prices are Going Up
The first few months of this year brought some encouraging news to the luxury market. In almost every North Scottsdale home for sale, there was a gain in the median home price, with the average climbing to $463,000 this year. That’s up 4 percent from the same time last year. Cave Creek median home prices jumped 7.1 percent to $450,000. Unfortunately, Paradise Valley has not benefited, yet from this upward trend.
North Scottsdale’s 85255 is Hot!
Most homes, in the valley, are selling in North Scottsdale’s 85255 ZIP code which includes communities like DC Ranch and Grayhawk. More than 1,100 houses were sold last year in this ZIP code with a median price around $675,000.
Highest-priced Home in North Scottsdale?
North Scottsdale’s Silverleaf neighborhood gets the top honors of having the most expensive home for sale at $32 million, according to Russ Lyon Sotheby’s International Realty. The 29,000 SqFt mansion has eight bedrooms, 10 bathrooms, and comes with an indoor basketball court and soundproof shooting and archery ranges. There’s room for about a dozen cars and is great for visitors with its 7,500 SqFt guest house. The home has been on the market for two years.