Scottsdale, AZ Real Estate Market Report - Jan. 2019

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

Home sales dropped again, but prices rose a bit in the Scottsdale real estate market during January. The number of homes sold was down 12% from December and down 21% from last January. This marks seven out of the last eight months of declining home sales in Scottsdale.  The average sale price increased 3% from December and is up 5% from January 2018. The 12 month moving average sale price is up 9% from a year ago,  now standing at $583,650.  The number of homes on the market is 2,710, 9% more than December, but 2% less than January 2018.  The days on market remains at 91, 21% less than last year, and the burn rate (homes pending/home sold) is at 4.08 months, now leaning toward a buyer's market.  There are currently 881 homes under contract, 15% less than last year, foreshadowing another slow month in February. The highest selling home for the month came in at $6,100,000. 

Here are the latest stats for the month ending 1/31/19:

Active Listings: 2,710

Homes Pending: 881

Homes sold in last 30 days: 497 (Down 12% from Dec. '18, Down 21% from Jan. '18)

Burn rate (Inventory on market / by homes currently under contract) = 4.08 months supply

Avg. Sale price (Solds): $599,867 (Up 3% from Dec. '18, Up 5% from Jan. '18)

Avg. price per sq. ft. (Solds): $245.66 (Up 2% from Dec. '18, Up 5% from Jan. '18)

Avg. Days on Market (Solds): 91 (Down 15 from Dec. '18, Down 21% from Jan. '18)

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/

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Rainmaker
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Anthony Acosta - ALLATLANTACONDOS.COM
Harry Norman, REALTORS® - Atlanta, GA
Associate Broker

Good evening 

Thank you for sharing your information Jerry Murphy, CRS, SRES 

Have a great night.

February 6, 2019. 

Feb 06, 2019 06:08 PM #1
Rainer
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Sally Crane
WMS - Unity, WI
Woodland appraisal support.

Thanks for the update, all the best to you as you get many of these properties listed and sold.

Feb 06, 2019 10:32 PM #2
Rainmaker
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Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Good morning Jerry. Time to drop the line a bit deeper to fish for opportunities. Enjoy your day!

Feb 07, 2019 05:00 AM #3
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Rainmaker
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Jerry Murphy, CRS, SRES

Anthem, Phoenix, and Scottsdale AZ Real Estate
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