Scottsdale Housing Update - November, 2018

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Real Estate Agent with Value Added Service, 602-620-2699 SA5376460000
https://activerain.com/droplet/5gqh

The Scottsdale Housing Update for November, 2018 reflects rising inventory; however, active listings are down from 8% December 1, 2017.  Listings are lower than any time on this chart.  Seasonally, listing inventory ticks upward during this time of year as over-priced homes are still on the market during the holidays with hopeful sellers of seasonal homes as our winter visitors descend on the Scottsdale area enjoying our winter fun!   

 

The following reports are provided courtesty of the Cromford Report! 

 

Active Listings Scottsdale November 2018

The median price in Scottsdale has risen in a steady pattern since the bottom of the market in 2011.  Compared to the housing market and the dramatic rise between 2003 and 2006, our steady market is a bonus for buyers and sellers, reducing their anxiety of a bubble in the market. 

 

At a median price of $470,000, the Scottsdale housing market is just over $200,000 higher than the Phoenix housing market, pricing some buyers out of the city.  For homes selling over $700,000, our current sales prices may not be at or above a purchase price in 2006, eliminating those homeowners as sellers.

 

Median Listing Price in Scottsdale November 2018

The supply of homes is currently 4.2 months.  At this time of year, each year on this report, inventory has been just over 4 month supply since 2012 when the market started to recover.  April, 2011 was the official bottom of the market for this area.   Each year at this time, inventory increases and begins to fall in February with the lowest supply being in June and July.  

 

Months of Supply Scottsdale November 2018

As you can see from the chart, prices bounce around in Scottsdale, due to the vast price ranges from condos to luxury homes.  Currently at $274.96 price per square foot, Under Contract List Price per square foot was $261.82 a year ago at this time. 

 

Under Contract List Price Scottsdale November 2018

Monthly Sales for November, 2018 were 575, down from 645 the year before; however, November 2016 were 564 and November 2015 were 432 sales.  That's up from 379 sales in November, 2014.   Part of this is inventory is low, prices are rising and the number of sales is going down in the lower prices.  

 

Monthly Sales Report Scottsdale November 2018

If you are looking for a home or condo to purchase in Scottdsale, give me a call.  Price range from a condo priced at $285,000 to a luxury home in Silverleaf on 4 acres priced at $26 million. 

The newest listing tool that I have to offer is Pearl Certifications!  If your home qualifies, I'll assist in getting it Pearl Certified at a reduced cost and will work to gain 5% more when it sells!   Contact me for details!

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HomeSmart Elite Group                                  

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Rainmaker
2,959,609
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Jan love the detailed explanation of how the market is doing and then to add the charts to it is very beneficial, hope buyers and sellers are reaching out to you for representation, Endre

Dec 04, 2018 11:46 PM #1
Rainmaker
937,286
Jan Green
Value Added Service, 602-620-2699 - Scottsdale, AZ
HomeSmart Elite Group, REALTOR®, EcoBroker, GREEN

Thank you Endre Barath, Jr. I appreciate your feedback.  Is there any informatoin you feel is missing?  Always looking to improve my reports and Cromford has a boat load!  His daily commentary is insightful and above and beyond the mere MLS!  

Dec 05, 2018 09:33 AM #2
Rainmaker
2,323,310
Myrl Jeffcoat
GreatWest Realty - Sacramento, CA
Greater Sacramento Real Estate Agent

That's valuable real estate market data for home buyers and sellers, in the Scottsdale area, Jan.

Dec 05, 2018 02:29 PM #3
Rainmaker
937,286
Jan Green
Value Added Service, 602-620-2699 - Scottsdale, AZ
HomeSmart Elite Group, REALTOR®, EcoBroker, GREEN

Thank you Myrl Jeffcoat !  Maybe someone looking might see it - I also posted it on Linnkedin. You just never know!  Thank you for commenting :)

Dec 05, 2018 02:33 PM #4
Rainmaker
1,856,403
Patricia Feager, MBA, CRS, GRI,MRP
DFW FINE PROPERTIES - Southlake, TX
Selling Homes Changing Lives

Hi Jan Green - Your comprehensive marketing report will be very helpful for prospective buyers and sellers. I hope they all consider how informative you are and serious about serving best customer services to your clients. 

Dec 08, 2018 05:05 AM #5
Rainmaker
937,286
Jan Green
Value Added Service, 602-620-2699 - Scottsdale, AZ
HomeSmart Elite Group, REALTOR®, EcoBroker, GREEN

Thank you Patricia Feager, MBA, CRS, GRI !  I appreciate your feedback.  Showing homes today in North Scottsdale so will have my facts on the brain. I'm sure you provide great reports as well! 

Dec 08, 2018 09:59 AM #6
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Rainmaker
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Jan Green

HomeSmart Elite Group, REALTOR®, EcoBroker, GREEN
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