McDowell Mountain Ranch Market Update - #1

27JuneMarket Update, McDowell Mountain Ranch, Real Estate, Scottsdale

McDowell-Mountain-Ranch

Every Friday, one of the 4 primary communities I am following (McDowell Mountain Ranch, DC Ranch, Windgate Ranch, and Silverleaf) will get its own market update. In combination with the weekly Scottsdale update on Sundays that should be more than enough market updates for even the die hard statistics junky.

I will need to point out in advance, that our MLS, in combination with the agents that enter listings into MLS has relatively poor data quality. As an example, a home in McDowell Mountain Ranch may be listed as:

Further, a home that isn’t actually in McDowell Mountain Ranch (for example, homes in Horseman’s park, which is adjacent to MMR, are often listed in McDowell Mountain Ranch. That’s an MLS rules violation, and when I find them I do report them, but the reality is, I can’t find them all.

My point? I’m reporting data from our MLS, which has about an 80-90% accuracy rate. There will be listings I unfortunately miss and listings I include, which I shouldn’t. I apologize in advance, but there’s little I can personally do about the quality of the data within MLS. I’m told that in July, with the move to FlexMLS, data quality may improve. I can only hope!

And with all of that disclosure out of the way, on to the update. In McDowell Mountain Ranch, there are currently 149 homes actively listed for sale, there are 17 homes with sales pending, and 24 homes closed escrow (sold) in the last 30 days, resulting in 6.2 months of supply.

Homes currently range in price and size from $349,000 for 1478 square feet, to $3,150,000 for 5130 square feet.

Status Price Range # Homes Average Size Average Price Median Price
Active $0-$500,000 28 1911 sq ft $458,971 $471,548
Active $500,001-$750,000 45 2362 sq ft $605,643 $595,000
Active $750,001-$1,000,000 54 3236 sq ft $850,598 $849,750
Active $1,000,001 - 22 3961 sq ft $1,515,900 $1,262,500
Active All PRICES 149 2830 sq ft $804,880 $759,900
Pending $0-$500,000 8 1664 sq ft $412,700 $402,000
Pending $500,001-$750,000 3 2767 sq ft $624,667 $625,000
Pending $750,001-$1,000,000 2 3863 sq ft $879,500 $879,500
Pending $1,000,001 - 4 3750 sq ft $1,361,000 $1,445,000
Pending ALL PRICES 17 2608 sq ft $728,153 $550,000
Sold $0-$500,000 8 1994 sq ft $407,863 $410,000
Sold $500,001-$750,000 8 2493 sq ft $597,875 $582,750
Sold $750,001-$1,000,000 6 3332 sq ft $823,500 $853,000
Sold $1,000,001 - 2 3696 sq ft $1,180,000 $1,180,000
Sold ALL PRICES 24 2637 sq ft $639,454 $852,750

*Note: All data via ARMLS, and is deemed reliable, but is not guaranteed. All sold properties were sold in the last 30 days, and noted prices are SOLD prices, while active and pending prices are ASKING prices.

Steve Belt by Steve Belt your expert on Scottsdale Real Estate
Realty Executives
Phoenix Area Real Estate Blog


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Filed under: Market Update, McDowell Mountain Ranch, Real Estate, Scottsdale

2 Responses to “McDowell Mountain Ranch Market Update - #1”

  1. MyAvatars 0.2 Jacki Semerau Says:
    June 27th, 2008 at 7:36 pm

    You mean…I’m not the only agent who gets extremely frustrated at having to think of all the possible spellings of a specific subdivision when doing a search? Great disclaimer, Steve!

  2. MyAvatars 0.2 Steve Belt Says:
    June 28th, 2008 at 1:43 am

    @Jacki - you are definitely not alone. And thanks for stopping by!

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