Scottsdale Real Estate Market Performance for Single-Family Homes- Through July 2008
Here are the most recent figures for the Scottsdale single-family home resale market. Sales dropped off a bit in July, but the number of active listings dropped again, which is good news.
| Trend Analysis - Scottsdale Single-Family Homes - Resale | |
| All Price Points | | | | | | | | | |
| 2007 | 2008 | | | |
| Sept. | Oct. | Nov. | Dec. | Jan. | Feb. | Mar. | Apr. | May | Jun. | Jul. | Avg. |
| Active | 3,761 | 3,876 | 3,950 | 3,743 | 4,154 | 4,254 | 4,304 | 4,249 | 4,063 | 3,941 | 3,872 | 4,015 |
| Pending | 251 | 150 | 235 | 191 | 262 | 287 | 312 | 349 | 364 | 338 | 327 | 279 |
| Sold | 177 | 236 | 168 | 190 | 187 | 227 | 246 | 270 | 300 | 321 | 286 | 237 |
| | | | | | | | | | | | |
| Percent Change- Month Over Month | | | | | | | | |
| 2007 | 2008 | | | |
| Sept. | Oct. | Nov. | Dec. | Jan. | Feb. | Mar. | Apr. | May | Jun. | Jul. | |
| Active | N/A | 3.1% | 1.9% | -5.2% | 11.0% | 2.4% | 1.2% | -1.3% | -4.4% | -3.0% | -1.8% | |
| Pending | N/A | -40.2% | 56.7% | -18.7% | 37.2% | 9.5% | 8.7% | 11.9% | 4.3% | -7.1% | -3.3% | |
| Sold | N/A | 33.3% | -28.8% | 13.1% | -1.6% | 21.4% | 8.4% | 9.8% | 11.1% | 7.0% | -10.9% | |
| Data Courtesy of the Arizona Regional Multiple Listing Service (ARMLS) | | | |
July Highlights:
Active listings dropped again to 3,872, a 1.8% decrease over June. This figure has been dropping since March where it hit a high of 4,304 active listings. This is good news in that some of the excess inventory is getting absorbed by the market each month.
Pending sales were down again to 327, or -3.3% over June. This is the second month in a row we have seen this number decline, which will have an impact on August's sales numbers.
There were 286 homes sold in July, down from 321 in June. As I mentioned in
June's performance report, the drop in pendings would most likely impact July's numbers.
Overall, July was a mixed month. It is very encouraging to see the active homes for sale inventory go down every month, but having the pendings and sales decrease puts a damper on the momentum Scottsdale had going for the last several months.
Disclaimer:
Information herein deemed reliable but not guaranteed. Data pulled the Arizona Regional MLS (ARMLS) and can change at any time. This blog represents the opinion of the author. No warranties implied or expressed.
Copyright © 2008 Heather Tawes Nelson