Scottsdale AZ real estate - Market Update Feb. '09

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

The downturn seems to be finally hitting the  Scottsdale real estate market hard. Scottsdale had been showing some signs of waning under the pressure of the economic downturn from the preceding months and is now taking the hit.  That being said, there are still some fantastic bargains in Scottsdale right now.  And when the market picks up full swing again, the homes in Scottsdale are going to appreciate at about double the rate of homes in other parts of the valley.

Here are January's numbers for the week ending 2/28/09:

Active Listings: 5,964 (Even with Jan. '09)

Homes Pending: 615 (Up 6% over Jan. '09)

Homes sold in last 30 days:  281 (Up 11% from Jan. '09, Down 7% from Feb. '08)

Burn rate (Inventory on market/by homes sold last 30 days) = 11 months supply

Avg. Sale price (Solds): $517,883 (Up 8% from Jan. '09, Down 16% from Feb. '08)

Avg. price per sq. ft. (Solds): $177.52 (Down $3 per Sq. Ft. from Jan. '09,  Down 27% from Feb. '08)

Avg. Days on Market (Solds): 168 (Up 22 days from Jan. '09, Up 21 days from Feb. '08)

To learn more about Scottsdale real estate click here 

For more information about Anthem Arizona visit: www.allaboutanthem.com

 

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Rainmaker
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Paula Swayne
Dunnigan, Realtors, Sacramento (916) 425-9715 - Sacramento, CA
Realtor-Land Park, East Sac & Curtis Park -Dunniga

Hi Jerry!
Your market looks like ours was about 3 months ago.  Things are looking better here, so hopefully you are following suit!  Judging by the price per square foot and average selling price, you must be selling very large houses!

Mar 09, 2009 03:06 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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