Scottsdale, AZ Market Report July 2012
In this Market Report we're looking at "The West's Most Western Town" Scottsdale, AZ .
Total Active listings are down another 4.4 % from June 1 to July 1.
Lender Owned (REO) and Short Sales (SS) make up less than 7.9% of Total Actives the lowest number in six years.
Lender Owned (REO) prices are unchanged June 1 to July 1. Lender owned properties are drying up fast in Scottsdale, AZ and those that are available are receiving multiple cash contracts driving prices up.
Short Sale prices are down 9.8 % June 1 to July 1. Even though Short Sales are still a challenge to close they are becoming an endangered species much like Lender Owned (REO) properties.
Normal Sale prices are unchanged June 1 to July 1 and up 7.4% over the past six months.
What does this mean for buyers and sellers in Scottsdale, AZ :
- Prices will flatten over the summer months and possibly up to the November elections, however, if you are thinking of buying a home in Scottsdale, AZ during the next year, buy now, prices will continue to rise.
- If you are considering a short sale list your home now and complete the sale before the end of the year to avoid possible tax consequences.
- If you are considering moving from a smaller to a larger home there has never been a better time to do so. Smaller homes are selling quickly and in many cases above list price while there are still some great bargans available in homes larger than 3000 sq.ft.
Whether you are buying or selling a home in Scottsdale, AZ I offer a free customized market report. As an informed buyer or seller you'll make better decisions.
All content in this post is protected by copyright. © Nancy Laswick 2012. All Rights Reserved.
Please Note:All statistics and figures are reported from the Arizona Regional Multiple Listing Service (ARMLS) and/or The Cromford Report and are deemed to be reliable, but cannot be guaranteed for accuracy. It is recommended that any information of special interest be verified through independent sources.