Scottsdale real estate market update - September 2016

By
Real Estate Agent with Realty ONE Group Mountain Desert SA535183000

 

Scottsdale Market Update for September 2016

Current homes listed for sale: 2954

Absorption rate: 4.6 months

Average Sales Price for Scottsdale Homes Sold: $524,102

Number of homes sold:

September 2016 - 633

September 2015 - 612

Percent change: +3.4%

Median sales price:

September 2016 - $395,000

September 2015 - $385,000

Percent change year to date – 4.3% increase

49 homes sold were over $1,000,000, which represents 8% of September 2016's sales.

Average Days on Market: 

September 2016 - 107

September 2015 - 92

Percent change year over year – 16.3% increase

Median Days on Market:

September 2016 - 68

September 2015 - 63

Percent chage year over year – 7.94% increase

The Scottsdale Arizona Real Estate Market continues to see a healthy appreciation rate.  The absorption rate still shows a lower than ideal supply.  However, we are approching the ideal 6 months supply.

October is a great time for buyers. Many sellers are anxious to sell their home prior to the holidays, which makes negotiations stronger. The rates remain at all time lows, and the weather has cooled down. Now is the perfect storm for buyers in Scottsdale, AZ.

Want to search for Scottsdale homes for sale? Click here to get started.

Posted by

Jacki Tait, CLHMS
Lead Agent, Team Three 23
Realty ONE Group Mountain Desert

Agent Success Coach
Mentorship Program Manager - Realty ONE Group Mountain Desert

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