Scottsdale, AZ Real Estate Market Report - June 2018

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

Activity slumped and prices remained flat in the Scottsdale real estate market for the month of June. The number of homes sold was down 11% from May and pretty much the same as last June. The average sale price was also virtually the same as May and was up 7% from June 2017.  The 12 month moving average sale price was up 8% from a year ago,  now standing at $563,627.  The number of homes on the market is 2,198, 7% less than May, and 13% less than June 2017.  Days on market is at 96, down 3% from last year and the burn rate (homes pending/home sold) is at 3.17 months, slowly shifting back to a more balanced market.  The highest selling home for the month came in at $5,500,000. 

Here are the latest stats for the month ending 6/30/18:

Active Listings: 2,198

Homes Pending: 1,012

Homes sold in last 30 days: 854 (Down 11% from May '18, Same as June '17)

Burn rate (Inventory on market / by homes currently under contract) = 3.17 months supply

Avg. Sale price (Solds): $611,281 (Same as May '18, Up 7% from June '17)

Avg. price per sq. ft. (Solds): $237.44 (Down 1% from May '18, Up 5% from June '17)

Avg. Days on Market (Solds): 96 (Down 1% from May '18, Down 3% from June '17)

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

Thank you for sharing the latest sales and inventory report on this segment of the real estate market. 

Jul 05, 2018 08:41 PM #1
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Jerry Murphy, CRS, SRES

Anthem, Phoenix, and Scottsdale AZ Real Estate
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