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.
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