Scottsdale Real Estate Market Update - #7

3AugustMarket Update, Real Estate, Scottsdale

For ARMLS, the new FlexMLS went live Monday (July 28, 2008). Actually, it wasn’t really live on Monday, as new listings I needed to enter could not be saved on Monday.  Tuesday, however, I was able to save new listings.  Accordingly, I suspect there are still some data integrity problems with what we see in MLS.   One data point worth noting is the drop off in pending sales this week.  I suspect this is the seasonal impact that results from the start of school August 11.

Currently, Scottsdale has 3871 homes for sale, down by 55; 328 home sales are pending, down by 25; and 285 homes were sold in the last 30 days, up by 51. This results in 13.6 months of supply. As well, Scottsdale has 1765 condos for sale, down by 45; 125 condo sales are pending, down by 27; and 136 condos were sold in the last 30 days, up by 6, resulting in 13.0 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-$300,000 213 green-down-arrow 2 57 red-down-arrow 3 44 green-up-arrow 6
$300,001 - $500,000 741 green-down-arrow 0 100 red-down-arrow 14 108 red-down-arrow 13
$500,001 - $750,000 879 red-up-arrow 12 77 green-up-arrow 1 62 red-down-arrow 3
$750,001 - $1,000,000 620 green-down-arrow 22 31 red-down-arrow 3 33 green-up-arrow 0
$1,000,001 - $2,000,000 810 green-down-arrow 35 48 red-down-arrow 5 31 green-up-arrow 2
$2,000,001+ 605 green-down-arrow 11 15 red-down-arrow 1 7 green-up-arrow 0

*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

Steve Belt by Steve Belt your expert on Scottsdale Real Estate
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Filed under: Market Update, Real Estate, Scottsdale

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