Kierland Homes Monthly Real Estate Report - February 2011

Kierland is an amazing area, located in the "magical" 85254 Zip Code of Scottsdale, AZ.  Because 85254 is home to what many consider to be the best school districts in Arizona (Scottsdale Unified School District & Paradise Valley Unified School District), and offers some of the best dining/shopping opportunities at the nearby Kierland Commons, this area has become extremely popular for people looking for their next home.  Add to that it's proximity to the Loop 101 and 51 freeways, and you get the perfect combination when looking for your next home. The 85254 Zip Code is commonly referred to as Kierland, and for the purposes of this report, I have included all real estate activity that has occurred in the past month within 85254.

Subscribe to the Kierland Homes Monthly Real Estate Report in order to get a copy sent to your inbox each month.  The report is meant to keep you up-to-date on the latest real estate trends in the community.  Please click on the chart below to make it larger.

Before I begin to explain the findings in the above chart, allow me to take a moment to define some of the terms.

Active:   Listings that are currently listed as being "Active" in the MLS.

Pending: Listings that are currently under contract.  This includes both Short Sales and Traditional (non- distressed) listings.

Closed: These are homes that closed escrow during the month of February /2011.

Traditional: These are listings that are "non-distressed" (i.e., not short sales or bank-owned).

Short Sales: These are listings that are marketed/sold for less than what is owed on their respective mortgages.

Bank-Owned: As the title implies, these are listings that are marketed/sold by the bank/lender that owns them.

Other/Misc.:  Involves listings that are classified as owner agent, probate, court approval required, etc.

There are currently 277 Active Listings on the market:

159 Are Traditional Listings

62 Are Short Sales

43 Are Bank-Owned

13 Are Other/Misc.

There are currently 218 Pending Listings:

46 Are Traditional Listings

119 Are Short Sales

42 Are Bank-Owned

11 Were Other/Misc.

During the month of February / 2011, there were 78 closed listings:

39 Were Traditional Listings

16 Were Short Sales

21 Were Bank-Owned

2 Were Other/Misc.

Finally, in the Kierland Homes Monthly Real Estate Report, we will compare month/month cost per square foot for those homes that closed escrow in February/ 2011:

The Average Price/Square Foot for homes sold in January /2011 in Kierland was $120.88 per square foot.

The Average Price/Square Foot for homes sold in February/ 2011 in Kierland was $128.43 per square foot.

This represents a 5.9% increase in prices within the community from January / 2011 to February / 2011.

If you are looking to buy in this popular community, feel free to contact the Kierland Homes Team for a more in-depth analysis of area. We have a long-standing reputation with buyers in the Kierland market, as well as surrounding neighborhoods in the area.

Or, if you are looking to conduct your own search in the Kierland market, you've come to the right place. Our Kierland MLS search allows you to set up your own search parameters, and you will receive an email whenever a new listing that matches your needs hits the market.  Trust me, you'll love it!

If you are considering selling your Kierland home, look no further. Contact the Kierland Homes Team to discuss your options.

As I said at the beginning, I will be posting this information on a monthly basis.  If you'd like to keep abreast of the latest happenings, feel free to subscribe to the Kierland Homes Monthly Real Estate Report.

Below is a map of all available homes currently listed in the Kierland Scottsdale-85254 area.  If you would like to conduct your own search, simply click on the red "Search" tab, enter your parameters in the boxes, and you can search anywhere in the Metro Phoenix/Scottsdale markets.  You WILL NOT leave this page, and, unlike other companies, we DO NOT ask for your name or email address to use this valuable search tool.  Enjoy!

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Bob Hertzog

Summit Home Consultants

Visit the Kierland Homes Team Website

Copyright © By Bob Hertzog 2011 *Kierland Homes Monthly Real Estate Report- February 2011*