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Scottsdale real estate - Market report September 2009

By
Real Estate Agent with Long Realty West Valley AZ RE Lic. #SA560004000

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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