Scottsdale, AZ Real Estate Market Report - Mar. 2019

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



Home sales increased again, and prices rose too in the Scottsdale real estate market during March. The number of homes sold was up 24% from February but down 13% from last March. The average sale price increased 1% from February and is up 6% from March 2018. The 12 month moving average sale price is up 8% from a year ago,  now standing at $589,965.  The number of homes on the market is 2,596, 8% less than February, and 4% less than March 2018.  The days on market is 96 days, 2% less than last year, and the burn rate (homes pending/home sold) is at 3.25 months, now leaning back toward a balanced market.  There are currently 1,152 homes under contract, 2% less than last year, foreshadowing a fairly good month in April. The highest selling home for the month came in at $5,375,000. 

Here are the latest stats for the month ending 3/31/19:

Active Listings: 2,596

Homes Pending: 1,152

Homes sold in last 30 days: 768 (Up 24% from Feb. '19, Down 13% from Mar. '18)

Burn rate (Inventory on market / by homes currently under contract) = 3.25 months supply

Avg. Sale price (Solds): $607,858 (Up 1% from Feb. '19, Up 6% from Mar. '18)

Avg. price per sq. ft. (Solds): $252.12 (Up 3% from Feb. '19, Up 7% from Mar. '18)

Avg. Days on Market (Solds): 96 (Down 4% from Feb. '19, Down 2% from Mar. '18)

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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.

May 19, 2019 08:06 PM #1
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Jerry Murphy, CRS, SRES

Anthem, Phoenix, and Scottsdale AZ Real Estate
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