Scottsdale Real Estate Stats
Updated April '11
The Scottsdale Arizona real estate market is upscale. Prices are higher here than most other areas in the valley. This is a market that can have homes for sale ranging from the low 100Ks to multi-million dollar mansions. This of course makes tracking Scottsdale real estate market trends more difficult.
Scottsdale is living proof that you can ask as much as you want when selling a house, but ultimately it is the buyer who is going to set the maximum selling price. If youre looking for good news about the gap between list price and sold price don't look here. Instead, take a look at the Chandler or Gilbert market stats!
But hey, here's some good news! Look at what happened to the average price that homes are selling for (it is bouncing up & down!):
Another important factor in looking at Scottsdale real estate market trends is how long homes were on the market when they actually did sell. This is called days on market and is referred to as DOM. Scottsdale Arizona real estate sellers need plenty of patience but at least we are holding fairly steady!
The final way I like to evaluate what is happening with Scottsdale real estate market trends is by showing how many homes have sold versus how many are currently listed at any given time. I also like to throw in how many homes are pending sale as well as how many new listings that there are in the Scottsdale Arizona real estate market.
It should be noted that Scottsdale real estate stats can be skewed by a few high dollar ("Jumbo") properties selling.
Another thing to notice is that when the Scottsdale Arizona real estate market started to fall, it prefaced in the outlying areas such as Queen Creek and Maricopa. Wouldn't it make sense if we saw the first signs of recovery there too? Perhaps we are!
Data used to create this statistical analysis comes directly from the Arizona Regional Multiple Listing Service (MLS) and is therefore deemed to be reliable but is not guaranteed. All charts and interpretations are the intellectual property of Jeff Hunt and Rider's Realty. Any republication or distribution is strictly forbidden without written permission of the owner.
