McCormick Ranch is what I like to call "Classic Scottsdale", located in the 85258 Zip Code. Because 85258 is home to what is considered to be the best school district in Arizona (Scottsdale Unified School District), and offers such amazing dining/shopping opportunities and miles of walking/biking trails along it's many greenbelts within the community, this area has become extremely popular for people looking for their next home. Add to that it is proximity to the Loop 101 Freeway, and you get the perfect combination when looking for your next home. The 85258 zip code is commonly referred to as McCormick Ranch, and for the purposes of this report, I have included all real estate activity that has occurred in the past month within 85258.
Subscribe to my blog to get a copy of the McCormick Ranch Homes Monthly Real Estate Report each month. The report is meant to keep you up-to-date on the latest real estate trends in the community.
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 / 2012.
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.: These are listings that are classified as owner/agent, probate, court approval required, etc.
There are currently 324 Active Listings on the market:
290 Are Traditional Listings
11 Are Short Sales
16 Are Bank-Owned
7 Are Other/Misc.
There are currently 160 Pending Listings:
97 Are Traditional Listings
40 Are Short Sales
08 Are Bank-Owned
15 Is/Are Misc.
During the month of February / 2012, there were 63 Closed Listings:
45 Were Traditional Listings
09 Were Short Sales
05 Were Bank-Owned
04 Is/Are Misc.
Finally, in the McCormick Ranch Homes Monthly Real Estate Report, we will compare month/month cost per square foot for those homes that closed escrow in February / 2012:
The Average Price/Square Foot for homes sold in January / 2012 in McCormick Ranch was $157.92 per square foot.
The Average Price/Square Foot for homes sold in February / 2012 in McCormick Ranch was $154.92 per square foot.
This represents a 1.94% decrease in price/square foot within the community from January / 2012 to February / 2012. The fact that 14 of the 63 homes that closed escrow were either short sales or bank-owned probably had a great deal to do with this.
If you are looking to buy in the McCormick Ranch community, feel free to contact the McCormick Ranch Scottsdale Team for a more in-depth analysis of area. We pride ourselves on our long-standing reputation of representing buyers in the McCormick Ranch market, as well as surrounding neighborhoods in the area.
Or, if you are looking for the Best McCormick Ranch Home Search on the internet, you've come to the right place. Our McCormick Ranch Home 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!
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 McCormick Ranch Homes blog to receive the McCormick Ranch Homes Monthly Real Estate Report.
Below is a small sampling of the homes that are currently listed and available in the McCormick Ranch market. Feel free click on the blue link titled “See More McCormick Ranch Homes For Sale” to get a complete list of homes that are currently available. These listings are taken directly from the Arizona MLS, which gives you the most up-to-date source of listing information on the planet. Enjoy!
McCormick Ranch Homes For Sale
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