The Scottsdale, AZ real estate market rebounded nicely in August off July's disappointing numbers, but is still showing some mixed signals. The number of homes sold was up nicely over July 2016 and August 2015. The 12 month moving average sale price still remained pretty much the same month over month and year over year, and now resides at $502,183. The number of homes on the market is 2,624 with the days on market at 122, 9% longer than last year. The burn rate (homes pending/home sold) is at 3.86 months, which signals a slight seller's market. And the highest selling home for the month came in at $8,500,000. This summer has shown signs that the market may be slowing down a bit in Scottsdale.
Here are the latest stats for the month ending 8/31/16:
Active Listings: 2,624
Homes Pending: 919
Homes sold in last 30 days: 700 (Up 14% from July '16, Up 20% from Aug. '15)
Burn rate (Inventory on market / by homes currently under contract) = 3.86 months supply
Avg. Sale price (Solds): $474,967 (Down 4% from July '16, Up 2% from Aug. '15)
Avg. price per sq. ft. (Solds): $201.37 (Down 2% From July '16, Up 2% from Aug. '15)
Avg. Days on Market (Solds): 122 (Up 8% from July '16, Up 9% from Aug. '15)
To receive a free market analysis for your Anthem home please call Jerry Murphy at 602-334-3757 or e-mail: jwmurphy@longrealty.com
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