Scottsdale Zip Code 85266 Home Sales By Type Q4 2011 - Includes Foreclosures & Short Sales

Below are the year-end home sales results for Scottsdale Arizona's 85266 zip code.

85266 is a newer North Scottsdale zip code and covers the northwest part of the city. It is bordered by Cave Creek and Phoenix to the west and Carefree to the north. 85266 does enjoy a higher elevation than Downtown and Central Scottsdale, and while it may not experience the lower temperatures like the northernmost areas of 85262, many of the homes and lots do have incredible valley and city lights views. It is also home to three of the top area golf communities including Whisper Rock, The Boulders and Terravita.

The following analysis covers Q4 2011 home sales for zip code 85266. The data was divided into three categories that I explain below:
- Non-Distressed Sales – These are "normal" or "traditional" home sales. Here the seller and buyer come to an agreement on the price and terms of the home sale and then work together to conclude the deal and pass ownership on to the buyer.
- Short Sales – Short sales are when a distressed homeowner needs to sell their home for less than is what is owed on the home - i.e. they are "short" on the total amount. In this case, approval from the lender or lenders is required for a transaction to take place.
- Foreclosures – These are homes where the homeowner has been foreclosed upon and no longer owns the home. Foreclosures are also known as "Lender-Owned" homes, "REO'" homes or "Bank-Owned" homes.

Overall Findings for the Scottsdale Zip Code 85266 Home Sales Market for Q4 2011 - Data as of January 1, 2012

• Active Scottsdale 85266 Homes For Sale: Over 90% of the homes on the market at the end of December were regular sales. Short sales came in next at 8% and foreclosures were barely represented at 2%
• 85266 Pending Homes for Sale: Although almost all of the homes on the market were regular sales at the end of the year, they only represented 50% of the pending sale inventory. The other half of the pending sales were split evenly between short sales and foreclosures.
• Q4 2011 Scottsdale 85266 Home Sales: Regular sales again made up the majority of the home sales in Q4 2011 with 72% of all sales. Again, short sales and foreclosures were almost evenly split to make up the rest of the sales.
• 85266 Home Prices: Interestingly enough, short sales had the highest average sales price in Q4, but as we would expect, were much lower when you look at average price per square foot sold. As to be expected, foreclosures came in with the lowest average sales price and average price per square foot.
• Discounts Off of List Price: This zip code had the lowest average discount off of sales price. Regular sales sold at only an average of 5% off asking. Short sales only saw an average 2% and foreclosures sold at list price.

2011 Scottsdale Home Sales in Zip Code 85266
Here are 85266's home sales broken out by quarter and by home sale type.

In 2011, over two thirds of sales in 85266 were regular sales and the balance was almost evenly split by short sales (17%) and foreclosures (15%.)

If you would like to see this information for the City of Scottsdale AZ, please see these previous reports:

View Scottsdale Home Sales by Type Q3 2011
View Scottsdale Home Sales by Type Q2 2011
View Scottsdale Home Sales by Type Q1 2011
View Scottsdale Home Sales by Type for 2010
View Scottsdale Home Sales by Type for 2009

Originally posted on Live Better in Scottsdale

Disclaimer: Due to rounding issues, not all columns will add up to 100%. Data and information were pulled from the Arizona Regional MLS (ARMLS) as of 4/1/2011, 7/1/2011, 10/1/2011 and 1/1/2012 and can change at any time. The analysis looks at single-family resale homes for sale and sales in Scottsdale AZ zip code 85266 for Q4 2011. There may be new home inventory in these figures if the developer is using the MLS to market its homes. Information deemed reliable but not guaranteed.
Copyright © 2011 Heather Tawes Nelson