Scottsdale, AZ Real Estate Market Report - Dec. 2018

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

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: 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:
Realtors®
Almost Anything Goes
Law of Attraction for the REALTOR!
Arizona Premiere Living
Anthem Homes for Sale
Tags:
arizona
condos
homes for sale
phoenix
az
realtors
real estate agents
buying a home
selling a home
golf
scottsdale
housing
brokers
hgtv
anthem
million dollar listing
town homes
real estate
market reports
long realty

Post a Comment
Spam prevention
Spam prevention
Show All Comments
Rainmaker
1,137,660
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
Post a Comment
Spam prevention
Show All Comments

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

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

Rainmaker
507,235

Jerry Murphy, CRS, SRES

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

Additional Information