August - Scottsdale Residential Report

Scottsdale Residential Report for Month of August. (data for month of July)


Homes priced $400,000 - $ 1 million saw sales and new listings shrink however that is normal for this time of year as the summer heat affects activity. What is of interest is that the number of homes for sale (active) has diminished steadily for the last 6 months. That means we are eating into inventory and the numbers reflect the fact that many buyers have been active and taking advantage of the low prices. The days of getting a steal are long gone and I highly recommend buyers take advantage of this historically low market while they can.

Homes over $1 million – you will notice the same thing as inventory (active) has shrank steadily the last 6 months.

I advise to ignore the “months inventory” as that is a misleading statistic, it is the number of homes for sale and the trend of such that is most meaningful. Economics 101 – supply and demand. www.premierAzhomes.com