2016 September Market Statistics for Single Family Homes
85255 Neighborhood Sales Updates
Select Neighborhoods Sales Updates Over the Past 12 Months
Information and data provided by ARMLS. All information is deemed reliable but not guaranteed. For more information regarding your neighborhood, contact Kupano & Associates at 480.688.0342
Top 20 Luxury Zip Codes
Which ZIP codes have the most luxury home transactions? Well if we de ne luxury single family homes as those that sell for $500,000 or more the top 20 ZIP codes based on annual closed ARMLS listings up to August 31, 2016 are:
Scottsdale 85255 – $737 million a year
Paradise Valley 85253 – $539 million a year
Scottsdale 85262 – $389 million a year
Phoenix 85018 – $348 million a year
Scottsdale 85259 – $255 million a year
Scottsdale 85266 – $222 million a year
Scottsdale 85254 $163 million a year
Scottsdale 85258 – $155 million a year
Cave Creek 85331 – $151 million a year
Scottsdale 85260 – $150 million a year
Fountain Hills 85268 – $141 million a year
Chandler 85249 – $119 million a year
Peoria 85383 – $96 million a year
Phoenix 85016 – $93 million a year
Mesa 85207 – $92 million a year
Scottsdale 85251 – $83 million a year
Gilbert 85298 – $72 million a year
Anthem 85086 – $67 million a year
Sun Lakes 85248 – $65 million a year
Queen Creek 85142 – $65 million a year
ZIP codes are not created equal in size. In fact 85255 has an unfair advantage being enormous in comparison with most others in our area. In contrast, Carefree 85377 is tiny so does not make the top 20.
Commentary
Some interesting changes have been going on since August 1. The cities improving the most for sellers are the expensive ones, in stark contrast to the earlier months of 2016. Paradise Valley is up a surprising 43% while Scottsdale is up 14%, Cave Creek up 14% and Fountain Hills up 7%. All have seen big drops in their active listing counts over the past couple of months. However much of the decline has been due to cancellations, so we will have to wait and see if these cancelled listings come back onto the market in the fall. Meanwhile sellers who are still low in the market have much less competition which drastically improves their negotiation power.
The rest of the market is mostly treading water, with the exception of Maricopa, up 8% and Gilbert up 5%. Avondale saw the steepest decline but it is still way out in front. If El Mirage was one of the top 17 cities then it would be placed even higher than Avondale.
