The Scottsdale real estate market saw an uptick in activity in September although prices continue to decline, albeit at a much slower pace. At about a 4 month burn rate (the number of months it would take to sell the exisiting inventory at the current sales pace) we are in what is typically observed as a balanced market in Scottsdale. If you're looking to pick up a good deal on a home or condo in Scottsdale, now's the time.
Here are August's numbers for the week ending 9/30/09:
Active Listings: 4,345 (Up 3% from Aug. '09)
Homes Pending: 1,296 (Up 6% from Aug. '09)
Homes sold in last 30 days: 536 (Up 11% from Aug '09, Up 63% from Sept. '08)
Burn rate (Inventory on market/by homes sold last 30 days) = 4 months supply
Avg. Sale price (Solds): $404,978 (Down 1% from Aug. '09, Down 24% from Sept. '08)
Avg. price per sq. ft. (Solds): $159.82 (Up $2 per Sq. Ft. from Aug. '09, Down 23% from Sept. '08)
Avg. Days on Market (Solds): 148 (Down 12 days from Aug. '09, Up 15 days from Sept. '08)
To learn more about Scottsdale real estate click here
For more information about Anthem Arizona visit: www.allaboutanthem.com
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