By Sloane Kingston
A new study is showing why Scottsdale communities remain among the most sought after zip codes in the country.
WalletHub’s latest list of the healthiest housing markets in the U.S. ranks Scottsdale 36th among midsize cities.
Looking at 300 cities around the country, the website considered criteria such as home appreciation, days on the market, pricing and affordability to determine the rankings.
And even with reports about rising home prices around the Phoenix area, Scottsdale, home to some of the Valley’s most desired communities – DC Ranch, Silverleaf and Grayhawk among them – continues to draw prospective buyers.
The Scottsdale Area Association of Realtors reported in early August that more than 7,800 homes had sold in June, continuing an upward trend that began in February.
Low inventory, meantime, continues to push home prices higher, especially on homes under $300,000. But at the same time, it is taking fewer days to sell active listings.
With buyers snapping up available homes at the current pace, the number of months it typically takes to sell a home is averaging about two months, according to SAAR.
Generally speaking, anything less than four months of inventory is considered a seller’s market.
Scottsdale joined several other Arizona cities that made the Top 50 among WalletHub’s healthiest housing cities.
The list also included the midsize cities of Gilbert, which ranked eleventh on the list; Chandler at number 22; Tempe at 28; and Peoria at 35.
Mesa, at number 40, ranked the highest among large Arizona cities found on the WalletHub list. It was followed by Phoenix at number 46 and Tucson at number 49.
Nationally, ahead of the Arizona cities, Austin, Texas topped the healthiest markets list at number one. Seattle, Washington was second among large cities followed by Denver, Colorado at number three.
If you’re thinking about buying or selling a home in DC Ranch or Silverleaf, contact Realtor Diane Brennan at Diane@DCRanchRealEstate.com or 602-620-2277. You can also reach her toll free at 1-800-354-4984.