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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November Market Report- Scottsdale

Scottsdale Market Report – data for month of November



Homes priced from $400,000 to $999,000 saw fewer new listings come onto the market however inventory increased as sales slowed a bit from prior month.

Homes priced $1 - $2 million saw an increase in inventory as this price point also saw sales decline from the prior month.

Homes priced over $2 million saw inventory stay relatively the same with a slight increase in sales from the prior month.

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

Scottsdale & Paradise Valley Residential Report for Month of June. (data for month of May)

Scottsdale & Paradise Valley Residential Report for Month of June. (data for month of May)


Paradise Valley: May saw a decrease in inventory in the homes for sale in the $1 - $2 million category as buyers took advantage of a chance to live in Paradise Valley at an affordable entry price. The price paid for a home versus the list price was 89.9% in this price range.

Homes priced over $2 million also saw inventory shrink as sales were up from $8.1 million to $24.7 million from the prior month. The price paid for a home was 84.1% of list price.

Scottsdale:

Homes priced $400,000 - $ 1 million saw sales stay steady however the number of homes available for sale shrank from 1747 to 1613.

Homes priced $1 million - $ 2 million saw inventory drop from 671 to 625 as sales were up from 19 to 34, almost double the prior month’s sales.

Homes priced over $2 million saw modest gains in sales and a slight decrease in inventory.
Conclusion: Appears buyers have felt the time to buy is now as some areas have seen modest price gains and inventory has been steadily declining in the under $ 2 million ranges. Buyers that waited for shadow inventory to enter the market or more negative news to impact prices risk not getting a great deal in hopes of getting a better deal- a risky strategy that many buyers have apparently avoided.
For anyone looking for a bargain there are excellent opportunities in the over $2 million category.

Scottsdale Residential Report for May

Scottsdale Residential Report for Month of May. (data for month of April)


April was pretty much the status quo for homes priced under $1 million.

However it was a different matter for homes priced over $ 1 million- listings were pretty much the same as prior month but sales were down significantly. I don’t have any explanation other than this may normal ebb and flow of the market or perhaps the higher end is taking a breather from the prior month when sales in the higher end were up significantly. Lets watch and see what the next month shows.

I can say that in certain communities buyers have actively snapped up what they perceived as bargains and now inventory is reduced in some communities.

For April the effect of foreclosures or shadow inventory has not materialized or translated into any increase in supply as inventory in all price points is roughly the same.

For anyone looking for a bargain there are excellent opportunities especially in the over $2 million category. Paradise Valley in particular is feeling the effect of price reductions and in the over $ 3 million range there are great buys!
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