Scottsdale, AZ Real Estate Market Report - Feb. 2019

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

Home sales increased for the first time in three months, and prices rose a bit too in the Scottsdale real estate market during February. The number of homes sold was up 24% from January but down 7% from last February. The average sale price increased 1% from January and is up 7% from February 2018. The 12 month moving average sale price is up 8% from a year ago,  now standing at $586,692.  The number of homes on the market is 2,808, 4% more than January, and 1% more than February 2018.  The days on market is 100 days, 1% more than last year, and the burn rate (homes pending/home sold) is at 3.69 months, now leaning toward a buyer's market.  There are currently 1,044 homes under contract, 11% less than last year, foreshadowing another slow month in March. The highest selling home for the month came in at $6,450,000. 

Here are the latest stats for the month ending 2/28/19:

Active Listings: 2,808

Homes Pending: 1,044

Homes sold in last 30 days: 617 (Up 24% from Jan. '18, Down 7% from Feb. '18)

Burn rate (Inventory on market / by homes currently under contract) = 3.69 months supply

Avg. Sale price (Solds): $603,154 (Up 1% from Jan. '18, Up 7% from Feb. '18)

Avg. price per sq. ft. (Solds): $245.32 (Same as Jan. '18, Up 6% from Feb. '18)

Avg. Days on Market (Solds): 100 (Up 10% from Jan. '18, Up 1% from Feb. '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

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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.

 

Mar 31, 2019 03:05 PM #1
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Rainmaker
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Jerry Murphy, CRS, SRES

Anthem, Phoenix, and Scottsdale AZ Real Estate
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