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Scottsdale Housing Update - November, 2018
The Scottsdale Housing Update for November, 2018 reflects rising inventory; however, active listings are down from 8% December 1, 2017. Listings are lower than any time on this chart. Seasonally, listing inventory ticks upward during this time of year as over-priced homes are still on the market during the holidays with hopeful sellers of seasonal homes as our winter visitors descend on the Scottsdale area enjoying our winter fun!
The following reports are provided courtesty of the Cromford Report!
The median price in Scottsdale has risen in a steady pattern since the bottom of the market in 2011. Compared to the housing market and the dramatic rise between 2003 and 2006, our steady market is a bonus for buyers and sellers, reducing their anxiety of a bubble in the market.
At a median price of $470,000, the Scottsdale housing market is just over $200,000 higher than the Phoenix housing market, pricing some buyers out of the city. For homes selling over $700,000, our current sales prices may not be at or above a purchase price in 2006, eliminating those homeowners as sellers.
The supply of homes is currently 4.2 months. At this time of year, each year on this report, inventory has been just ... more
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