Home Prices in Scottsdale Arizona for April 2018
Real estate market data for Scottsdale, AZ provided by Jeffrey Masich of HomeSmart Real Estate.
Scottsdale Home Prices
Prices of homes sold continue an upward trend in Scottsdale as home prices in Scottsdale are expected to continue this year. If you are considering buying a home in Scottsdale, finding the right home at the right price, by using a solid real estate agent who understands the local market is a must. Finding that right home in a market with rising prices takes expertise to find the appropriate home that will be a sound investment as well as being a wonderful place to live for your family. As you can see from the graph below, listings are generally selling for less than the list prices.
If you are interested in Scottsdale AZ Homes For Sale be aware that current inventory for homes on the market in has declined from last year. You can find information on the homes that are for sale by clicking on the link or seeing homes for sale below. The lower inventory indicates that homes are sitting on the market for a shorter time. Currently in Scottsdale, homes have a median time of 50 days on the market before they sell. At this time last year in Scottsdale homes were 62 median days on the market before they sold. Although the supply of homes on the market is less, the 50 days on the market suggests that buyers are still in a position to make an offer on a home. Sellers should make sure to price their home near the market value if they expect to get an offer from one of those interested buyers. A declining inventory in Scottsdale is a reason that prices are on the rise.
The "absorption rate" or the number of months it will take to exhaust the supply of homes on the market in Scottsdale was 4.37 months in March 2018 as compared to 5.21 months a year ago. This also shows declining supply for available demand.
Scottsdale Real Estate Report Summary
The median sold or selling price in March 2018 for residential homes in Scottsdale (detached, townhomes, patio homes and condos combined) was $452,250. This median sold price increased from $420,000 from the previous year.
The median asking price or list price for listings in Scottsdale was$735,000 in March 2018 suggesting their are more higher priced homes on the market and the lower priced homes are the ones that are selling more frequently.
As mentioned, the median sold price in March for Scottsdale homes was $452,250. This sale prices increased from $421,000 from the previous month.
There were 3,150 active listings at the end of March 2018 compared to 3,515 at this time last year showing a reduced inventory of homes on the market.
There were 872 listings that sold in Scottsdale during March 2018 compared to a similar amount 870 at this time last year although the inventory of available listings being less. This shows demand is constant although the number of homes available is less which is one reason prices have increased.
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