Scottsdale, AZ Real Estate Market Report - July 2018

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


Activity continued to wane and prices dropped in the Scottsdale real estate market during the month of July. The number of homes sold was down 11% from June but up 11% from last July. The average sale price dropped 10% versus June and was up 6% from July 2017. The 12 month moving average sale price was up 8% from a year ago,  now standing at $565,621.  The number of homes on the market is 2,107, 4% less than June, and 10% less than July 2017.  Days on market is at 98, down 4% from last year and the burn rate (homes pending/home sold) is at 3.53 months, slowly shifting back to a more balanced market.  The highest selling home for the month came in at $3,200,000. 

Here are the latest stats for the month ending 7/31/18:

Active Listings: 2,107

Homes Pending: 834

Homes sold in last 30 days: 756 (Down 11% from June '18, Up 11% from July '17)

Burn rate (Inventory on market / by homes currently under contract) = 3.53 months supply

Avg. Sale price (Solds): $548,181 (Down 10% from June '18, Up 6% from July '17)

Avg. price per sq. ft. (Solds): $233.99 (Down 1% from June '18, Up 6% from July '17)

Avg. Days on Market (Solds): 98 (Up 2% from June '18, Down 4% from July '17)

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Jerry Murphy, CRS, SRES

Anthem, Phoenix, and Scottsdale AZ Real Estate
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