August Residential Info for Scottsdale, Az

Scottsdale Residential Report- data for month of August

Homes priced from $400,000 to $999,999  

Inventory continues to decline, which it has done for the least six months in a row.

Prices are flat but that is what is attracting buyers. Sales were same as the prior month which was good considering August is generally a slow month. It is still a buyer’s market as buyers are only buying the best and brightest and all want a “good deal”.

Homes priced from $1 million to $2 million saw sales down from the prior month however the six month trend in inventory has been declining except for August which was roughly the same as the prior month.

Homes priced from $2 million to $3 million saw inventory decline which it has been steadily doing for the last six months. Sales were healthy as they remained same as the prior month.

Homes priced over $3 million saw one home sell versus none for the prior month. The last six months has seen inventory on a steady decline.

The high end still has a high level of inventory and this is where the best deal can be made as the pressure on the high end has been steady for sometime.

Scottsdale Monthly Residential Report

Scottsdale Residential Report- data for month of June

Homes priced from $400,000 to $999,999 saw a significant increase in homes sold from the prior month. However the bulk of these sales were from homes under contract 30- 60 days prior as we have entered the slower summer months and I expect sales to start reflecting that in the next month. Inventory actually increased from the prior month
Generally it is still a buyer’s market as buyers are only buying the best and brightest and all want a “good deal”.
Homes priced from $1 million to $1.5 million saw sales same as prior month with new listings actually slowing down and inventory decreasing a slight amount.
Homes priced from $1.5 million to $2 million saw a drop in sales, however inventory decreased.
Homes priced over $2 million saw sales remain same as the prior month and a drop in inventory. The high end has seen surprisingly brisk sales over the last 3 months.
The high end still has a high level of inventory and this is where the best deal can be made as the pressure on the high end has been steady for sometime with high carry costs.

Mobile Phone Home Search App

I will be adding a free mobile phone search app that anyone can use on their phone for free. This should be available in next couple of days.

Scottsdale Residential Market Report- May Data

Scottsdale Residential Report- data for month of May

Homes priced from $400,000 to $999,999 saw inventory decrease for the fourth month in a row. At a 6 month inventory of homes for sale that is technically a balanced market with no preference to the buyer or seller. However, generally it is still a buyer’s market as buyers are only buying the best and brightest and all want a “good deal”.

Homes priced from $1 million to $1.5 million saw inventory levels decrease slightly from prior month however sales were down 20%.

Homes priced from $1.5 million to $2 million saw inventory down slightly from prior month. Sales were up 60% which was a large increase in units sold from prior month. I will watch this going forward as it should drop with the onset of summer months however this was a large increase.

Homes priced over $2 million saw sales and inventory pretty much the same as the prior month. The high end still has a high level of inventory and this is where the best deal can be made as the pressure on the high end has been steady for sometime with high carry costs.

Scottsdale Residential Report - May

Scottsdale Residential Report- data for month of April

Homes priced from $400,000 to $999,999 saw inventory decrease with a slight increase in sales of homes. We are now in the slower months of the season with many of the snow birds gone and all activity should slow down.

Homes priced from $1 million to $1.75 million saw inventory increase slightly from prior month and home sales were relatively the same as prior month.

Homes priced over $1.75 million saw new listings down while inventory and homes sales were almost identical to the prior month.

Buyers are buying homes that are priced to market and that are the best in their communities/price points.

Scottsdale Residential Market Report

Scottsdale Residential Market Report – data for month of February

Homes priced from $500,000 to $1 million
Homes in this price range saw inventory rise slightly and a modest increase in sales from the prior month.

Homes priced 1 million to $1.5 million

Homes in this price range saw inventory remain flat with a slight increase in sales.

Homes priced $1.5 million to $2 million

Homes in this range saw inventory rise slightly and sales remained the same as prior month at 6 home sales.
Homes priced over $2 million

The upper end saw inventory post a modest gain and sales were actually up from prior month.
Clearly the lions share of home sales is in the under $1 million price range. However I have noticed a marked rise in interest in the high end as well, especially in the more exclusive communities. Several media sources are citing lower foreclosure notices and trustee sales with some increase in median prices.

Scottsdale Report for December

Hope all had a great holiday season!

Scottsdale Market Report – data for month of December

Homes priced from $400,000 to $1 million saw a significant increase in sales, 20% increase from prior month, while the inventory of homes for sale decreased slightly(2%).

Homes priced from $1 million to $1.5 million saw activity and inventory levels almost identical to the prior month.

Homes priced $1.5 million to $2.5 million also saw almost identical activity levels as the prior month. Home sales were 9 vs. 8.

The real surprise – Homes over $2.5 million saw a major increase in sales from the prior month, almost a 400% increase in sales as homes sold jumped to 11 vs. 3 prior month.

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