Scottsdale Real Estate Market Update – #6

27JulyMarket Update, Scottsdale

For ARMLS, the new FlexMLS goes live tomorrow (July 28, 2008).  As a result of the change over from Tempo, all data updates have been frozen since Friday morning.  Therefore the accuracy for this update is certainly off, as changes in statuses for Friday, Saturday, and today (particularly closings on Friday) are not reflected in the numbers below.  Next week, I expect bigger changes than we would otherwise expect, as the new data pours into the system on Monday/Tuesday to catch up from over the weekend.

Currently, Scottsdale has 3926 homes for sale, up by 11; 353 home sales are pending, down by 18; and 234 homes were sold in the last 30 days, down by 67. This results in 16.8 months of supply. As well, Scottsdale has 1810 condos for sale, up by 25; 152 condo sales are pending, down by 2; and 130 condos were sold in the last 30 days, down by 4, resulting in 13.9 months of supply. The following is a breakdown of single family homes statistics for the 6 price categories I’ve selected for Scottsdale:

Price Homes for Sale Sales Pending Sold
$0-$300,000 215  green-down-arrow 2 60 green-up-arrow 6 38 red-down-arrow 2
$300,001 – $500,000 741 red-up-arrow 13 114 green-up-arrow 6 95 red-down-arrow 5
$500,001 – $750,000 867 green-down-arrow 12 76 green-up-arrow 5 65 red-down-arrow 6
$750,001 – $1,000,000 642 red-up-arrow 10 34 green-up-arrow 3 33 red-down-arrow 7
$1,000,001 – $2,000,000 845 red-up-arrow 8 53 red-down-arrow 3 29 red-down-arrow 4
$2,000,001+ 616 green-down-arrow 6 16 green-up-arrow 1 7 red-down-arrow 2

*Notes: All data via ARMLS, and is deemed reliable, but is not guaranteed. All sold properties were sold in the last 30 days. The following trend indicators are relative to the previous week’s update:

green-up-arrow Positive move upward green-down-arrow Positive move downward

red-down-arrow Negative move downward red-up-arrow Negative move upward

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