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Scottsdale Single-Family Home Resale Market - December 2008
December 2008 was an interesting month for the Scottsdale real estate market. Sales numbers were back up as a whole, particularly in the lower-priced segments. Inventory was down significantly, due to increased sales activity as well as a very large jump in the number of expired listings.


 
December Highlights: - The number of active homes for sale dropped substantially from 4,072 in November to 3,790 in December. A lot of this can be attributed to a large spike in expired listings. The average number of expired listings per month over the last 12 months has been tracking at 202. In December, that figure was 343 - a 130% increase. We also saw a 28% jump in sales from November to December which also has some impact.- The only negative news this month is that the number of pending sales dropped in December to 212, down from November's 259. This represents an 18.1% decrease and is far behind the 12 month average of 296 pending sales. This will likely impact January's sales numbers.- Home sales in December rebounded to 228, up from November's 177. This puts us slightly behind the 12 month average of 248 sales per month. - ... more

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