JON MIRMELLI REAL ESTATE GROUP
MARKET UPDATE
October 2026
COMING SOON - EXCEPTIONAL GAINEY RANCH VILLAS HOME 7520 E SUNNYVALE DR, Scottsdale, AZ 85258 3bd/2.5ba + Den/Bonus Room + Pool + 3-Car Garage + 3,733 Sq Ft FOR SALE $3,175,000
E GROU AT
Jon Mirmelli 602.300.1900
JM
AL ES T RE
PRESENTED BY
JON M MELLI IR
P
PROPERTY DETAILS
FEATURES
2024
#28
REALTOR IN AZ
Inventory Increases as Pending Sales Slow As of September 30, Maricopa County had 19,380 active and coming soon listings in the MLS, an increase of 10% from the prior month and 7% compared with September 2025. Homes under contract totaled 5,038, down 9% month over month and 13% year over year. Closed sales reached 4,010, slightly above August’s total but 17% below September 2025. Higher mortgage rates, geopolitical uncertainty surrounding the conflict in Iran, and the upcoming midterm elections may be contributing to more cautious buyer sentiment. The September 24 Cromford Market Index report to the right provides a snapshot of conditions across Metro Phoenix’s major markets. Readings above 100 indicate a seller’s market, while readings below 100 indicate a buyer’s market. Most markets declined over the past month, reflecting a shift in the balance between supply and demand.
Higher Mortgage Rates Weigh on Buyer Activity As of October 1, the average 30-year mortgage rate was 7.28%, 62 basis points higher than the previous month. Higher borrowing costs have reduced purchasing power and prompted some buyers to reassess their budgets or postpone purchase decisions. Energy prices, geopolitical developments, and expectations for Federal Reserve policy remain key factors to watch as the interest rate outlook evolves.
Featured Listings and Upcoming Opportunities Our newest listing in Gainey Village is scheduled to debut during the second week of October. Located in this soughtafter, guard-gated Scottsdale community, the home has been completely reimagined with sophisticated contemporary finishes and exceptional attention to detail. Its desirable location offers convenient access to nearby dining, shopping, and other walkable amenities. Our listings on Thunderhill and Blanche have also received recent price improvements, creating compelling opportunities for prospective buyers. Please contact us to schedule a private tour or arrange a consultation to review your real estate portfolio, discuss current property values, or explore future purchase opportunities.
Very truly yours, Jon Mirmelli & Rebecca Ponte
8/01/26 – 8/31/26
VS. SEP 2026 9/01/26 – 9/30/26
Jon Mirmelli Real Estate Group
AVERAGE SOLD PRICE
CAVE CREEK/CAREFREE`
AVERAGE SALE/ LIST PRICE
AVERAGE $/SQFT
AVERAGE DOM
85331
34
43
$1,082,304
$1,124,722
97%
97%
$384.56
$383.39
92
108
85266 85262 85255 85254 85260 85259 85258 85250 85251 85257
19 29 59 60 44 20 38 26 55 35
23 35 72 68 52 25 40 16 62 34
$1,736,868 $2,078,781 $2,043,364 $1,263,104 $1,104,853 $1,343,625 $1,034,151 $646,208 $871,776 $615,260
$1,918,022 $1,748,713 $2,057,031 $1,225,124 $1,332,114 $1,360,287 $1,016,788 $899,687 $758,948 $622,973
97% 94% 97% 97% 96% 96% 96% 98% 95% 96%
96% 96% 98% 97% 98% 97% 96% 98% 97% 98%
$459.14 $570.56 $555.93 $467.38 $429.04 $415.38 $470.89 $371.06 $448.93 $379.40
$512.85 $476.18 $570.08 $490.34 $461.69 $438.57 $428.24 $468.30 $412.86 $361.18
123 192 97 92 79 71 84 84 143 85
103 130 86 84 75 88 100 94 110 86
85268
44
35
$1,016,223
$863,100
97%
97%
$391.93
$360.38
84
94
85253
30
21
$4,041,564
$3,499,429
95%
94%
$860.42
$798.53
126
79
85028 85016 85018 85050 85054
17 24 29 27 12
24 44 35 27 14
$813,546 $802,121 $1,502,466 $688,530 $925,087
$742,396 $597,176 $1,122,563 $681,052 $932,907
98% 97% 98% 98% 98%
97% 97% 95% 98% 98%
$385.87 $405.77 $534.67 $335.40 $442.52
$375.63 $352.19 $468.09 $327.82 $463.03
53 84 102 72 95
56 90 106 98 122
SCOTTSDALE
HOMES RECENTLY SOLD
AUG 2026
# OF CLOSED LISTINGS
JM
PRESENTED BY
AL ES T RE
ZIP
CLOSED
E GROU AT
MARKET WATCH
JON M MELLI IR
P
FOUNTAIN HILLS PARADISE VALLEY
PHOENIX/ARCADIA/BILTMORE
ZIP CODE MAP
43
SCOTTSDALE
35
23
homes closed
homes closed
homes closed
14
27
homes closed
homes closed
72
homes closed
68
homes closed
52
homes closed
25
homes closed
40
24
homes closed
homes closed
21
homes closed
44
homes closed
35
homes closed
16
homes closed
35
homes closed
62
homes closed
34
homes closed
The properties on this list have been listed/sold by various members of the MLS. If your home is currently listed, this is not a solicitation for that listing. Data reported is based upon sales information provided by the MLS as of September 30, 2026. Data deemed to be reliable but not guaranteed. Each office is independently owned and operated.
LISTED
MARKET
WATCH
PRESENTED BY
Jon Mirmelli Real Estate Group
Jon Mirmelli Real Estate Group - Active, Pending, Closed
Need help selling your existing home or looking to buy? Please call Jon today! Referrals always appreciated. ACTIVE
7520 E SUNNYVALE DR • SCOTTSDALE, AZ 85258 3 Beds | 2.5 Baths | 3,733 SF | Den/Bonus Room | Pool | 3-Car Garage | $3,175,000 PRICE
PRICE
IMPROVEMENT
Paradise Valley Farms 8202 N 74TH PL SCOTTSDALE, AZ 85258 5 Beds | 7 Baths | 4,883 SF $5,475,000
IMPROVEMENT
Scottsdale 9289 E BLANCHE DR SCOTTSDALE, AZ 85260 4 Beds | 3 Baths | 2,394 SF $839,900
If your home is currently listed, this is not a solicitation for that listing.
P
JON M
JM
AL ES T RE
Rebecca Ponte | 602.390.7096
1741 W THUNDERHILL DR PHOENIX, AZ 85045 5 Beds | 3 Baths | 3,024 SF $725,000
MELLI IR
Jon Mirmelli Real Estate Group
Phoenix
E GROU AT
SOLD
Produced by Prime Source & DLP • 480.921.0511 • PrimeSourceAZ.com