Scottsdale, AZ Real Estate Market Report - Dec. 2017

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


The Scottsdale real estate market finished 2017 fairly flat. The number of homes sold increased slightly while the average sales price decreased a bit.  Sales were up 1% from November and up 6% from last December. The average sale price decreased 1% versus November but was up 9% from December 2016.  The 12 month moving average sale price was up 5% from a year ago,  now standing at $534,684, up 1% from the 12 month moving average through November and up 5% from a year ago. The number of homes on the market is 2,584, 1% less than November, and 18% less than December 2016.  The days on market is at 92, down 12% from last year and the burn rate (homes pending/home sold) is at 4.44 months, slowly shifting back to a more balanced market.  The highest selling home for the month came in at $6,100,000. 

Here are the latest stats for the month ending 12/31/17:

Active Listings: 2,584

Homes Pending: 752

Homes sold in last 30 days: 666 (Up 1% from Nov. '17, Up 6% from Dec. '16)

Burn rate (Inventory on market / by homes currently under contract) = 4.44 months supply

Avg. Sale price (Solds): $554,414 (Down 1% from Nov. '17, Up 9% from Dec. '16)

Avg. price per sq. ft. (Solds): $229.67 (Up 2% from Nov. '17, Up 6% from Dec. '16)

Avg. Days on Market (Solds): 92 (Up 8% from Nov. '17, Down 12% from Dec. '16)

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Lise Howe
Keller Williams Capital Properties - Washington, DC
Assoc. Broker and Attorney Licensed in DC, MD, VA,

Thanks for the market update  - I love reading about the different parts of the country and how they are doing. 

Jan 03, 2018 08:10 PM #1
Patricia Feager, MBA, CRS, GRI,MRP
Selling Homes Changing Lives

It will be interesting to see how first quarter 2018 compares to last Q 2017. 

Buyers and Sellers shouldn't be discouraged and they should appreciate your knowledge and expertise. 

Best wishes for a great year!

Jan 04, 2018 06:13 PM #2
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Jerry Murphy, CRS, SRES

Anthem, Phoenix, and Scottsdale AZ Real Estate
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