Scottsdale Real Estate - Market report January 2010

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Real Estate Agent with Long Realty West Valley AZ RE Lic. #SA560004000

The  Scottsdale real estate market saw continued stabilization in the first month of January with the average sales price almost returning from it's lows of over a year ago.  And we continue to see dramatic improvement of the number of homes sold versus last year.  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 January's numbers for the week ending 1/31/10:

Active Listings: 4,571 (Up 5% from Dec. '09, Down 23% from January 2009)

Homes Pending: 1,316 (Up 16% from Dec. '09, Up 127% from January 2009)

Homes sold in last 30 days:  429 (Down 25% from Dec. '09, Up 70% from Jan. '09)

Burn rate (Inventory on market/by homes currently under contract) = 4 months supply

Avg. Sale price (Solds): $461,283 (Up 9% from Dec. '09, Down 4% from Jan. '09)

Avg. price per sq. ft. (Solds): $163.10 (Up $2 per Sq. Ft. from Dec. '09,  Down 10% from Jan. '09)

Avg. Days on Market (Solds): 158 (Up 18 days from  Dec. '09, Down 13 days from Jan. '09)

To learn more about Scottsdale real estate click here 

For more information about Anthem Arizona visit: www.allaboutanthem.com

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Rainer
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Douglas Lovitt
CENTURY 21 North Homes Realty, Inc. - Mill Creek, WA

Looks like your market has made a significant turn. Increasing sales & sinking inventory - all good signs for existing homeowner's value!

Feb 08, 2010 10:54 AM #1
Rainmaker
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Michael A. Caruso
Surterre Properties - Laguna Niguel, CA

I have property in Scottsdale, so thank you for this market report. I'm going to hold on to it a little bit longer 

Feb 08, 2010 01:35 PM #2
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Rainmaker
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Jerry Murphy, CRS, SRES

Anthem, Phoenix, and Scottsdale AZ Real Estate
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