Scottsdale, AZ Market Report - July 2016

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

 

The Scottsdale, AZ real estate market showed a bit of slide in month of July.  The number of homes sold was down dramatically from both June 2016 and July 2015. The 12 month moving average sale price remained the same month over month and year over year, and now resides at $501,883.  The number of homes on the market is 2,581 with the days on market at 113, 7% longer than last year.  The burn rate (homes pending/home sold) is at 3.72 months, which signals a slight seller's market.  One month does not spell a trend, but keep an eye out here for future reports.  Let's see if July was just an aberration, or a sign of things to come.

Here are the latest stats for the month ending 7/31/16:

Active Listings: 2,581

Homes Pending: 949

Homes sold in last 30 days: 616 (Down 25% from June '16, Down 16% from July '15)

Burn rate (Inventory on market / by homes currently under contract) =  3.72 months supply

Avg. Sale price (Solds): $496,102 (Down 2% from June '16, Down 2% from July '15)

Avg. price per sq. ft. (Solds): $205.80 (Down 2% From June '16, Up 3% from July '15)

Avg. Days on Market (Solds): 113 (Up 3% from June'16, Up 7% from July '15)

To receive a free market analysis for your Anthem home please call Jerry Murphy at 602-334-3757 or e-mail: jwmurphy@longrealty.com

To search Anthem homes for sale please visit: www.JWMurphy.LongRealty.com

Like us on Facebook at: https://www.facebook.com/Jerry-Murphy-PhoenixScottsdale-Area-Real-Estate-Agent-154855641299985/

And follow me on Twitter at: JWMIMAZRealtor

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Jim Crawford
Crye-Leike REALTORS® - Atlanta, GA
Jim Crawford Atlanta Best Listing Agents & REALTOR

Thank you for sharing this information.  It is just what buyers and sellers need to make informed decisions.

Aug 31, 2016 11:39 AM #1
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Jerry Murphy, CRS, SRES

Anthem, Phoenix, and Scottsdale AZ Real Estate
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