Published October 18, 2026 in Market Update

One part of north and Scottsdale area is moving much faster than the rest

By Andrew Monaghan

Real estate, north and Scottsdale area

Redfin reported the weekly average mortgage rate hit 7.4% on October 8, a three-year high. That is the backdrop for every number below. Yet one ZIP code in this market barely flinched.

ZIP 85024 is the fastest-moving corner of the market

The Real Estate Data Aggregator counted 112 homes sold in ZIP 85024 in the three months ending August 31, 2026. That was up 34.9% from the same months a year before. More telling: the Real Estate Data Aggregator found that 43.9% of homes there went under contract within two weeks of listing. That share rose 13.6 points from a year ago.

For buyers, that means less time to wait once the right home shows up. For sellers, it is a sign that strong prep and pricing can still bring quick action, even with rates where they are.

How 85024 compares with the rest of the area

Across the wider market, the picture is more mixed. The Real Estate Data Aggregator shows most ZIP codes sitting at 4 months of supply or more. Days on market stretch well past 60 in many of them. ZIP 85024's 33-day median is the shortest the Real Estate Data Aggregator recorded anywhere in this market for that period.

Months of supply tells a similar story

The Real Estate Data Aggregator put months of supply in ZIP 85024 at 2.9. That is the second-tightest reading in the market. Only ZIP 85377 came in lower, at 2.7 months, though that ZIP had just 15 sales in the period, so one or two deals can move the number a lot.

Rates are high, but demand in 85024 held up

Redfin reported that nationally, home sellers outnumbered buyers by 63% in September 2026. Redfin also noted that the number of homebuyers across the U.S. fell to 928,892 in September, the lowest since 2013. Forty-one of the 50 most populous U.S. metro areas are buyer's markets, according to Redfin.

That national softness makes ZIP 85024's numbers stand out more. Pending sales there rose 50% year over year, the Real Estate Data Aggregator found. New listings rose 54% in the same period, yet homes still moved fast. Supply came in, and buyers absorbed it.

Fannie Mae forecast the average 30-year fixed rate at 7.4% for the fourth quarter of 2026, according to CNBC. That is not a small number. But the Real Estate Data Aggregator shows that in 85024, a 98.5% sale-to-list ratio held, meaning sellers gave up very little off their asking price.

The slower end of the market

Not every ZIP code looked like 85024. The Real Estate Data Aggregator counted a median of 134 days on market in ZIP 85262 and 133 days in ZIP 85266. Both are well above the market's faster ZIPs. In 85262, days on market grew 40 days longer than a year before. In 85266, they grew 66 days longer.

In those ZIPs, only 14.3% and 10.8% of homes went under contract within two weeks, respectively. Both shares fell from a year ago. Price alone does not explain it: ZIP 85050 has a median of $725,000 and moved quickly. ZIP 85266 has a median of $1,323,308 and moved slowly. Pricing and preparation matter more than price level.

What this means if you own a home here

The Federal Housing Finance Agency reported U.S. house prices rose 2.6% from July 2025 to July 2026. That broad number masks a lot of local difference. In ZIP 85258, the Real Estate Data Aggregator found the median sale price rose 20.1% year over year. In ZIP 85377, it fell 15.3%. Same market, very different outcomes.

One street can read very differently from the whole ZIP code. The numbers above cover three-month periods and whole ZIP codes. Your home's position in the market depends on its street, its condition, and how it is priced relative to what actually sold nearby.