McCormick Ranch Scottsdale

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McCormick Ranch

As the pioneer for master planned communities in the Phoenix Valley, McCormick Ranch was nearly the size of the entire City of Scottsdale when it was built in the 1970's. Today, McCormick Ranch is home to over 20,000 residents and features developments such as; community schools, hospitals, shopping centers and restaurants. McCormick Ranch has 130 acres of man-made lakes (7 lakes total) that allow residents to sail, fish and boat. The community also boosts 43 miles of biking and hiking trails, public tennis courts and two 18-hole golf courses. One of the most unique features in the community is the McCormick-Stillman Railroad Park, which offers rides to visitors on a small-gauge railroad that runs throughout the park. The environment of McCormick Ranch is filled with green foliage, lush grassy yards and tropical landscaping throughout the community. The landscaping as well as the architecture of the developments is evident of the California influence on the master plan of the community. McCormick Ranch is an ideal location for individuals seeking fantastic outdoor facilities, easy commuting access to the 101 freeway and downtown Scottsdale, and a variety of home choices in magnificently maintained neighborhoods.

McCormick Ranch Scottsdale
McCormick Ranch has a variety of homes for sale ranging from condos and low maintenance patio homes to large lakeside estates. Prices range from mid $100's for 1 bedroom condos and around $300,000 for 3 bedroom patio homes. Most of the single family homes in McCormick Ranch start over $350,000 for 2,000 square feet. If you would like an analysis of homes on the market in McCormick Ranch please feel welcome to contact us and we will email you a complete analysis of the McCormick Ranch real estate market.

(Huge) McCormick Ranch Market Update

by Brandon on July 29, 2014

McCormick Ranch Market Update 2014Do you already own a home in McCormick Ranch? Or maybe you’re thinking about purchasing a McCormick Ranch property? Either way, the graphic charts, tables, and analysis below will help you answer the question: is now a good time to buy or sell?

As a prospective home seller, get a rough estimate of what your McCormick Ranch homes is worth by multiplying the average price-per-square-foot by the total number of square-feet in your home. If you would like a full Comparative Market Analysis (CMA) for your McCormick Ranch home, fill out this form.

As a prospective buyer, take a look at the price trends to see where the local McCormick Ranch market is headed, and if the market is favoring buyers. To see all the available real estate for sale in McCormick Ranch, click here.

p.s. all the charts and graphs below are interactive, so you can hover over individual points to get more specific details

Table of Contents



Quick Hits

  • Total Sales January – June 2014: 219 in McCormick Ranch
  • Overall Average $/SQFT: $198.70/sqft
  • Overall Average Days on Market: 81 days


How Much Does a Pool Affect the Price?

The average price-per-square-foot for single-family-detached homes with or without pools breaks down as follows for the first half of this year.

  • No Pool: 13 sales, $192.29/square-foot
  • Community Pool: 9 sales, $202.21/square-foot
  • Private Pool: 68 sales, $211.56/square-foot

McCormick Ranch Pool SwimmingAs you can see, private pools bring roughly a 10% premium over no pool. And a community pool brings with it a 5% premium.

When it comes to townhouses, patio homes, and condos, the premium works out to be even more, with private pools being much more desirable. For these property types, a private pool brings with it a 12.6% premium over a community pool, and a 7.8% premium over no pool. Here is the 6-month average price-per-square-foot based on the property’s pool type.

  • Community Pool: 110 sales, $189.99/square-foot
  • No Pool: 10 sales, $198.56/square-foot
  • Private Pool: 9 sales, $213.98/square-foot

Free Home Valuation



Average $/SQFT by Month


The interactive chart above shows the average price-per-square-foot in McCormick Ranch for the first six-months of 2014. The monthly averages encompass all dwelling types (i.e. condo, single family, etc.), and luxury properties. The low point of $185 was in March, and a high of $207.52 in May, representing a 10.8% difference between the low & high points.

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Average $/SQFT (Single Family vs. Condo vs. Townhouse vs. Patio)


Side-by-side comparison of the monthly average price-per-square-foot for each dwelling type, including single family homes, condos, townhouses, and patio homes. For some months, the lower number of home sales can skew the average higher or lower, so to help give you a better picture, here is the 6-month average for each dwelling type, which should give you a more complete picture.

  • Single Family: $207.84
  • Townhouse: $200.24
  • Patio Home: $197.43
  • Condo: $174.78

For prospective sellers wanting to get a quick idea of what their home might be worth, multiply the square-feet of your property by the low, 6-month average, and high from the above chart to get a reliable home value range. For instance, if you own a condo, multiply the condo’s livable square-feet by $122.24, $174.78, and $218.83. If you would like an in-depth CMA on your property which takes into account your community, comparable properties, amenities, and more, contact one of our McCormick Ranch agents.


As far as trends go, condos & single family houses have a good upward trend, whereas townhouses appear to have something of a negative trend except the big month of April. Patio homes on the other hand appear a little more flat in terms of momentum. Above is a graph that gives a better visual of the trends.

Free Home Valuation



Sales per Month


Each subsequent month has seen a jump in the total number of McCormick Ranch homes sold, except May, which saw a slight down tick. But that slight down tick was more than made up for in June. Also, oddly on the low end is January, which is usually a busy month, but not this year.

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Total Sales (Single Family vs. Condo vs. Townhouse vs. Patio)


While residential property sales in McCormick Ranch have really picked up since January, which was unusually slow, the condo market in McCormick Ranch in particular is strongly trending up in sales count. Townhouses on the other hand appear to be trending down in sales volume as we get further into the summer. And of course, you can’t overlook the huge month June turned out to be for single family detached homes in McCormick Ranch.

If you slice up the total sales volume in McCormick Ranch for the first 6-months of 2014, here’s how that would look.


When you compare the bar chart & the pie chart, you can see how big of a month June was for single family homes, 33% of the entire volume for the first-six-months occurred in June! And June was the 2nd best month so far this year for $/SQFT, landing at $215.28/square-foot.

Free Home Valuation



Average DOM by Month


Overall average Days on Market in McCormick Ranch for the first 6-months of 2014 are above. The days on market in McCormick Ranch hover right around the 80 day mark, so most sellers can expect a little under 3-months from listing the property. The exception being May, where we saw a dramatic drop to 55. The average for each month encompasses all dwelling types as well as luxury homes. For a more precise look at your specific neighborhood, see the charts below.

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Average Monthly DOM (Single Family vs. Condo vs. Townhouse vs. Patio)


This graph shows the average days on market for each property type each month. Condos consistently lead the pack in terms of taking the longest to sell followed by patio homes. Single family homes have been pretty good most of the year, keeping under 80 days, but June say a good sized jump up to 96.4 days, but June was also the same month that single family homes saw the biggest year to date number of sales, and was also he second highest month so far this year for average price-per-square-foot, so maybe the extra half month on average it took to sell the home was worth the wait.

To help balance out your perspective, here is the 6-month average for each dwelling type.

  • Single Family: 79.57 days
  • Townhouse: 71.30 days
  • Patio Home: 71.68 days
  • Condo: 106.33 days

Free Home Valuation



Avg. Monthly % of List Price (Single Family vs. Townhouse vs. Patio vs. Condo)


The large majority of property sales that occurred over the past 6-months went for less than the original list price (i.e. the original asking price by the seller). And a very small minority went for MORE than the original asking price. Based on the above graph you can see the McCormick Ranch single family detached percentage of list price has been mostly stable in the mid-low 90′s. While single family homes show stability, the other property types have a lot of variation, especially condos, with a low of 84.59% and a high of 94.59%.

Photo credit: Swimming by Prachya Singhto

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Here is a list of all the homes in McCormick Ranch that have sold recently, what they sold for, and other relevant property details. All of the recent sales were single family, detached homes. This list of recent home sales includes the following subdivisions: Palo Viento, Paradise Park Trails, Villa Hermosa, Suggs Rancho McCormick Ranch.

Recent Sales in McCormick Ranch

Table Date Range: May 1, 2014 to June 26, 2014

Address
MLS #
Sold $
SQFT
$/SqFt
DOM
Beds
Baths
Built
Levels
8046 E VIA BONITA5077649$435,000.002,009$216.527632.0019771
8313 E Welsh Trl5066119$750,000.003,425$218.9711443.0019801
8519 E Belgian Trl5108731$582,500.002,512$231.892232.0019791
8321 E SAN SIMON Dr5087956$435,000.002,024$214.925832.0019841
8619 E San Lucas Dr5097013$660,000.002,500$264.003732.0019841
8033 E DEL CRISTAL Dr5102445$680,000.002,920$232.876843.0019781


Recent Sales Averages: MCCORMICK RANCH vs. the 85258 Zip Code

  • Number of homes sold during this period: 6 in McCormick Ranch vs. 102 in the 85258 zip code
  • Average Sales Price: $590,416 in McCormick Ranch vs. $609,227 in the 85258 zip code
  • Average Price / SQFT: $229.86 in McCormick Ranch vs. $222.58 in the 85258 zip code
  • Average DOM: 62 days in McCormick Ranch vs. 99 in the 85258 zip code (over 1 month less!)

Monthly Average Sales Price (85258)

The average sales price in the 85258 zip code for June is $609,227. This data excludes non-normal transactions like HUD, REO, and short sales.
Click here for larger image


Monthly Average Sales Price per Square Foot (85258)

The average sales price per square foot in the 85258 zip code for June is $222.58/square-foot. This data excludes non-normal transactions like HUD, REO, and short sales.
Click here for larger image


Snapshot for the 85258 Zip Code

Some interesting data points include:

  • 5.8 months supply, which is considered a neutral / stable market
  • 20% month over month price per square foot appreciation, big increase over May
  • 52% listing success rate (how many homes listed end up selling), a lot lower than May’s 62%

Click here for larger image

This is the latest snapshot available.


Active Listings in 85258

As of 6/27 there are 148 active listings in the 85258 zip code and 20 in the McCormick Ranch community. This data excludes non-normal transactions like HUD, REO, and short sales.
Click here for larger image


Graphs are courtesy of the Cromford Report

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