Activity slumped and prices remained flat in the Scottsdale real estate market for the month of June. The number of homes sold was down 11% from May and pretty much the same as last June. The average sale price was also virtually the same as May and was up 7% from June 2017. The 12 month moving average sale price was up 8% from a year ago, now standing at $563,627. The number of homes on the market is 2,198, 7% less than May, and 13% less than June 2017. Days on market is at 96, down 3% from last year and the burn rate (homes pending/home sold) is at 3.17 months, slowly shifting back to a more balanced market. The highest selling home for the month came in at $5,500,000.
Here are the latest stats for the month ending 6/30/18:
Active Listings: 2,198
Homes Pending: 1,012
Homes sold in last 30 days: 854 (Down 11% from May '18, Same as June '17)
Burn rate (Inventory on market / by homes currently under contract) = 3.17 months supply
Avg. Sale price (Solds): $611,281 (Same as May '18, Up 7% from June '17)
Avg. price per sq. ft. (Solds): $237.44 (Down 1% from May '18, Up 5% from June '17)
Avg. Days on Market (Solds): 96 (Down 1% from May '18, Down 3% from June '17)
To receive a free value analysis for your Scottsdale home please call Jerry Murphy at 602-334-3757 or e-mail: jwmurphy@longrealty.com
To search Scottsdale, AZ homes for sale please visit: www.JWMurphy.LongRealty.com
Like us on Facebook at: https://www.facebook.com/Jerry-Murphy-PhoenixScottsdale-Area-Real-Estate-Agent-154855641299985/
And follow me on Twitter at: JWMIMAZRealtor
Comments(1)