Scottsdale Real Estate Market Performance for Single-Family Homes- Through June 2008
The June 2008 numbers are in for the Scottsdale single-family home resale market and the news continues to be good. Once again, sales are up and listings are down.
| Trend Analysis - Scottsdale Single-Family Homes - Resale |
| All Price Points | | | | | | | | |
| 2007 | 2008 | | |
| Sept. | Oct. | Nov. | Dec. | Jan. | Feb. | Mar. | Apr. | May | Jun. | Avg. |
| Active | 3,761 | 3,876 | 3,950 | 3,743 | 4,154 | 4,254 | 4,304 | 4,249 | 4,063 | 3,941 | 4,030 |
| Pending | 251 | 150 | 235 | 191 | 262 | 287 | 312 | 349 | 364 | 338 | 274 |
| Sold | 177 | 236 | 168 | 190 | 187 | 227 | 246 | 270 | 300 | 321 | 232 |
| | | | | | | | | | | |
| Percent Change- Month Over Month | | | | | | | |
| 2007 | 2008 | | |
| Sept. | Oct. | Nov. | Dec. | Jan. | Feb. | Mar. | Apr. | May | Jun. | |
| Active | N/A | 3.1% | 1.9% | -5.2% | 11.0% | 2.4% | 1.2% | -1.3% | -4.4% | -3.0% | |
| Pending | N/A | -40.2% | 56.7% | -18.7% | 37.2% | 9.5% | 8.7% | 11.9% | 4.3% | -7.1% | |
| Sold | N/A | 33.3% | -28.8% | 13.1% | -1.6% | 21.4% | 8.4% | 9.8% | 11.1% | 7.0% | |
| Data Courtesy of the Arizona Regional Multiple Listing Service (ARMLS) | | |
Findings:
The number of active listings dropped below the 4,000 barrier to 3,941, a drop of 3% over May.
Pending sales are down slightly from May to 338 versus 364, a decrease of 7.1%. This is the first time pending sales have decreased month-over-month since December 2007.
Home sales were up to 321 in June, an increase of 7%. This continues a trend that started in January of this year.
June was another good month for Scottsdale and many of the trends that have been emerging, most notably a decrease in the number of active listings and an increase in home sales, have continued. The only cloud on the horizon is that pending sales have dipped which will most likely impact July's 'sold' numbers. Ideally, new sales activity will compensate for the lower number, but at this point, we will have to wait and see.