McDowell Mountain Ranch
Real Estate Statistics
Thank you for visiting the Real Estate Statistics page for McDowell Mountain Ranch, located in North Scottsdale, AZ. The following graphs are updated using information from the Arizona Multiple Listing Service. The information is general in nature. Statistics for individual subdivisions within McDowell Mountain Ranch will vary. For information about a particular subdivision, please Contact Us.
For a current $700k+ Sales Stat graph through June 30, 2011 click here
For a current Sales Stat graph through June 30, 2011 click here
This is the table and graph for MMR homes for sale and sold since 2007. As you can see, prices per SF have dropped 28% in 2008. They have dropped another 3% during 2009. The average sales price in MMR dropped 26.3% in 2008 and a whopping 17.5% in 2009. The average sales price in MMR is only $448,476 in 2009. We finally had a home sell for over $520k this year! Otherwise the average sale in MMR is only $408k.
Prices are continuing to decrease. Based on the fact that 15.3% of the homes listed in MMR are distress sales, these numbers may be headed lower in the near term. While the distressed sales are lower than the rest of the valley (43.5% distressed), they represent the competition for all home sales. The distressed properties are listed in the price range of $307,500 to $1,490,000.
There have been 3 homes sold for over $700,000 in the last 3 months with the highest sale 2/10/09 at $899,000 and $232/sf. There are currently 57 homes on the market in MMR over $700k. This equates to a 57 month supply of homes. The breakdown is 16 homes priced $700k - $800k, 11 homes priced $800k - $900k, 12 homes priced $900k - $999k, with the remaining 18 homes priced above $1.0mil. The last home that sold for over $1.0mil was in Sept. 08. Only 3 homes have sold for over $1.0mil since July 08. This is the summary for McDowell Mountain Ranch real estate. Sorry I cannot provide better news, but it is the facts as reported in the MLS system.
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As of July 9th, 2008, there are currently 142 single family homes (SFH) available in McDowell Mountain Ranch. There have been 96 SFH sales over the past 6 months, thus this represents a 8.8 month supply of homes on the market. The average sales price for the 2nd quarter of 2008 was $593,424 which is a slight decrease from the 1st quarter, and a 17.2% decrease from a year ago. See the graphs below for more details.
Prices for the 2nd quarter of 2008 decreased an average of 2.3% from the prior quarter. A total of 61 single family sales were recorded in the 2nd quarter, which is a 74% increase from the 1st quarter of 2008. The average SFH price has decrease 4 in the last 5 quarters. Homes sales are increasing, but at reduced prices from the peak of 2006.
The average price per square foot is another way to measure the market. Given that McDowell Mountain Ranch is a planned community, there are many similarities in craftsmanship, lot size, and amenities. Therefore, many Buyers, Sellers and Agents use the average square foot price to create a baseline for market comparisons. These figures are provided to share this information with the general public. Of course, every home should be viewed on its individual style, condition, upgrades and other amenities for an accurate assessment of value.
Although the average home price dropped by 2.3% in the 2nd quarter, the average price per square foot dropped 10.4% in the 2nd quarter 2008 vs the 1st quarter. The average sf price decreased 17.5% in 2008 vs the end of 2007 prices.
The average Days On Market (DOM) decreased in the 2nd quarter to 148 DOM vs. 191 DOM for the average sale in the 1st quarter of 2008. Prices are dropping, but it is not taking as long to sell the property.
Information provided by Teresa Atkinson, CRS, e-Pro of RE/MAX Excalibur 
While all information is believed to be correct, it is not guaranteed. If you have any questions or need additional information, please do not hesitate to call Teresa at 480-235-7522 or send her an email at Teresa@AGHomes.com
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