Scottsdale, AZ Real Estate Market Report - Apr. 2018

By
Real Estate Agent with Long Realty West Valley AZ RE Lic. #SA560004000
https://activerain.com/droplet/5csf

 

Prices rose a bit but activity flattened in the Scottsdale real estate market during April. The number of homes sold was similar to March but up 8% from last April. The average sale price increased 2% versus March and was up 9% from April 2017.  The 12 month moving average sale price was up 7% from a year ago,  now standing at $585,970.  The number of homes on the market is 2,561, 5% less than March, and 18% less than April 2017.  Days on market is at 91, down 15% from last year and the burn rate (homes pending/home sold) is at 3.18 months, slowly shifting back to a more balanced market.  The highest selling home for the month came in at $5,750,000. 

Here are the latest stats for the month ending 4/30/18:

Active Listings: 2,561

Homes Pending: 1,173

Homes sold in last 30 days: 871 (Down 1% from Mar. '18, Up 8% from Apr. '17)

Burn rate (Inventory on market / by homes currently under contract) = 3.18 months supply

Avg. Sale price (Solds): $585,970 (Up 2% from Mar. '18, Up 9% from Apr. '17)

Avg. price per sq. ft. (Solds): $237.02 (Up 1% from Mar. '18, Up 6% from Apr. '17)

Avg. Days on Market (Solds): 91 (Down 7% from Mar. '18, Down 15% from Apr. '17)

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

To search Scottsdale, AZ 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/

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Rainmaker
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Joyce Marsh
Regal | Christie's International Real Estate - Orlando, FL
Regional Manager Regal Christie's Int'l Realty

This is a very good review of the latest sales and real estate market activity which would be very helpful for those looking to buy or sell. 

May 27, 2018 06:28 PM #1
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Jim Crawford
Crye-Leike REALTORS® - Atlanta, GA
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Jerry Murphy, CRS, SRES Thank you for taking the time to prepare and share this information.  It is most informative.

May 28, 2018 08:04 AM #2
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Jerry Murphy, CRS, SRES

Anthem, Phoenix, and Scottsdale AZ Real Estate
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