The Scottsdale real estate market saw a little leveling off in October although prices have started to climb a bit. At about a 4 month burn rate (the number of months it would take to sell the exisiting inventory at the current sales pace) we are in what is typically observed as a balanced market in Scottsdale. If you're looking to pick up a good deal on a home or condo in Scottsdale, now's the time.
Here are August's numbers for the week ending 10/31/09:
Active Listings: 4,492 (Up 3% from Sept. '09)
Homes Pending: 1,275 (Down 2% from Sept. '09)
Homes sold in last 30 days: 561 (Up 5% from Sept. '09, Up 59% from Oct. '08)
Burn rate (Inventory on market/by homes sold last 30 days) = 4 months supply
Avg. Sale price (Solds): $414,479 (Up 2% from Sept. '09, Down 18% from Oct. '08)
Avg. price per sq. ft. (Solds): $161.90 (Up $2 per Sq. Ft. from Sept. '09, Down 20% from Oct. '08)
Avg. Days on Market (Solds): 158 (Up 10 days from Sept. '09, Up 9 days from Oct. '08)
To learn more about Scottsdale real estate click here
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