Scottsdale, AZ Real Estate Market Report - May 2018

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

 

Activity picked up in the Scottsdale real estate market during May. The number of homes sold was 10% from April and up 6% over last May. The average sale price increased 4% versus April and was up 14% from May 2017.  The 12 month moving average sale price was up 8% from a year ago,  now standing at $559,494.  The number of homes on the market is 2,357, 8% less than April, and 16% less than May 2017.  Days on market is at 97, down 1% from last year and the burn rate (homes pending/home sold) is at 3.30 months, slowly shifting back to a more balanced market.  The highest selling home for the month came in at $10,300,000. 

Here are the latest stats for the month ending 5/31/18:

Active Listings: 2,357

Homes Pending: 1,027

Homes sold in last 30 days: 962 (Up 10% from Apr. '18, Up 6% from May '17)

Burn rate (Inventory on market / by homes currently under contract) = 3.30 months supply

Avg. Sale price (Solds): $611,933 (Up 4% from Apr. '18, Up 14% from May '17)

Avg. price per sq. ft. (Solds): $239.20 (Up 1% from Apr. '18, Up 9% from May '17)

Avg. Days on Market (Solds): 97 (Up 7% from Apr. '18, Down 1% from May '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/

And follow me on Twitter at: JWMIMAZRealtor

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
Real Estate Market Trends
Location:
Arizona Maricopa County Scottsdale
Groups:
Almost Anything Goes
Law of Attraction for the REALTOR!
POSITIVE ATTITUDE for the Weary Soul
Anthem Homes for Sale
Tags:
arizona
homes for sale
az
realtors
scottsdale
brokers
real estate
agents
market reports
long realty
jerry murphy
how do i buy a home
how do i get a home loan

Post a Comment
Spam prevention
Spam prevention
Post a Comment
Spam prevention

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainmaker
463,259

Jerry Murphy, CRS, SRES

Anthem, Phoenix, and Scottsdale AZ Real Estate
Ask me a question
*
*
*
*
Spam prevention

Additional Information