Housing Statistics for Scottsdale, 85266, $800,000 - $1 Million

Housing Statistics for Scottsdale, 85266, $800,000 - $1 Million- 

Housing inventory in this area has seen a reversal of new inventory. I'm seeing this in other areas as well.  This report highlights specifically for $800,000 to $1 Million.  

Active listings are shown here for Maricopa County, single family homes only for 85266.  As of August 23, there are 28 listings and 2 short sale listings for Housing Statistics for Scottsdale, 85266, $800,000 - $1 Million.

 As you can see, Active Listings have dropped off, so let's see what Sales have done for Housing Statistics for Scottsdale, 85266, $800,000 - $1 Million. 

Sales have dropped off a bit for August, but if you look backward that's true of every August and the month isn't over yet.  So just because sales are slower, doesn't mean that is a market affect, but it's a season affect.  Sales in this price range appear stronger from November to March, signaling that home buyers arrive in the fall to purchase here.  But 2014 is slightly different in that June and July produced more sales than the normal pattern.  

Now to understand where the market is going, lets look at Pending Price Per Square foot Range for Housing Statistics for Scottsdale, 85266, $800,000 - $1 Million. 

Homes that are under contract in 85266 for the Weekly Average are current priced at $238.86 per square foot.  Because this report cannot be broken down into price range, the drop off could have been due to the sale of a distress property, but if you'll notice higher price pre square foot was achieved during the winter months.  And in Arizona, that's the nicest time of year to be viewing homes!

So how long does it take to sell a home in 85266?  This report for Housing Statistics for 85266, Scottsdale, $800,000 - $1 Million shows currently that homes sell in 54 days, a significant drop from July's 169 days.  But, August isn't over yet and this number could change. 

Reports are courtesy of the Cromford Report and available for Subscription. 

If you are looking to buy or sell a Home in Scottsdale give me a call!