Prices rose a bit but activity flattened in the Scottsdale real estate market during April. The number of homes sold was similar to March but up 8% from last April. The average sale price increased 2% versus March and was up 9% from April 2017. The 12 month moving average sale price was up 7% from a year ago, now standing at $585,970. The number of homes on the market is 2,561, 5% less than March, and 18% less than April 2017. Days on market is at 91, down 15% from last year and the burn rate (homes pending/home sold) is at 3.18 months, slowly shifting back to a more balanced market. The highest selling home for the month came in at $5,750,000.
Here are the latest stats for the month ending 4/30/18:
Active Listings: 2,561
Homes Pending: 1,173
Homes sold in last 30 days: 871 (Down 1% from Mar. '18, Up 8% from Apr. '17)
Burn rate (Inventory on market / by homes currently under contract) = 3.18 months supply
Avg. Sale price (Solds): $585,970 (Up 2% from Mar. '18, Up 9% from Apr. '17)
Avg. price per sq. ft. (Solds): $237.02 (Up 1% from Mar. '18, Up 6% from Apr. '17)
Avg. Days on Market (Solds): 91 (Down 7% from Mar. '18, Down 15% from Apr. '17)
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