Thanks to two neighborhood parks, an A+ elementary school and ideal proximity to shopping centers like Kierland Commons and Scottsdale Quarter, North Ranch remains one of the most popular neighborhoods in Scottsdale.
Since moving to North Ranch 15-years ago, I’ve noticed there is always very little turnover, as people who move here love living here, and stay. Thanks to this relative lack of inventory, home prices are surging, and reflect the popularity of our neighborhood.
For instance; two homes on my block (Kings Avenue) recently sold for $670,000 and $645,000 after weeks on the market. In May, a home on 62nd Place sold for $719,000…breaking records for price per square foot in North Ranch.
Last week, a newly remodeled home on Sandra Terrace was listed for $695,000 and sold within 3 days after receiving multiple offers.
This week a home on Kings Avenue listed for $649,000, and I expect that home to sell quickly.
Interestingly, the overall housing market – both locally and nationally -has been slowing down as prices have continued to rise and buyers hit the pause bottom. So these North Ranch sales are bucking the trend.
Whether this is the start of a cyclical downturn or temporary speed bump on the way to higher prices remains to be seen.
Either way, as North Ranch shows, you can never go wrong by buying a home in a popular neighborhood with little to no turnover.
Thank you for reading my inaugural blog!
Please feel free to contact me anytime with any questions you have about the real estate market or any real estate needs.