Scottsdale, AZ Real Estate Market Report - Dec. 2018

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

Home sales dropped again, but prices ticked up ever so slightly in the Scottsdale real estate market during December. The number of homes sold was down 4% from November and down 15% from last December. This marks six out of the last seven months of declining home sales in Scottsdale.  The average sale price increased .33% (that's 1/3 of 1 percent) from November but is up 5% from December 2017. The 12 month moving average sale price is up 9% from a year ago,  now standing at $581,585.  The number of homes on the market is 2,491, 3% more than November, but 3% less than December 2017.  The days on market remains at 92, same as last year, and the burn rate (homes pending/home sold) is at 5.41 months, now a strong buyer's market.  There are currently 565 homes under contract, 25% less than last year, foreshadowing another slow month in January. The highest selling home for the month came in at $4,550,000. 

Here are the latest stats for the month ending 12/31/18:

Active Listings: 2,494

Homes Pending: 565

Homes sold in last 30 days: 566 (Down 4% from Nov. '18, Down 15% from Dec. '17)

Burn rate (Inventory on market / by homes currently under contract) = 5.41 months supply

Avg. Sale price (Solds): $581,921 (Up .33% from Nov. '18, Up 5% from Dec. '17)

Avg. price per sq. ft. (Solds): $241.64 (Up 1% from Nov. '18, Up 5% from Dec. '17)

Avg. Days on Market (Solds): 92 (Same as Nov. '18, Same as Dec. '17)

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

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

I’m sure the buyers and sellers in your area appreciate your local market reports. Wishing you a very successful new year. 

Jan 08, 2019 03:25 PM #1
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Jerry Murphy, CRS, SRES

Anthem, Phoenix, and Scottsdale AZ Real Estate
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