Scottsdale Real Estate Market Performance for Single-Family Homes- Through April 2008
The April numbers have posted and the results for Scottsdale single-family resale homes April 2008 continue to improve.
| Trend Analysis - Scottsdale Single-Family Homes - Resale | | | |
| All Price Points | | | | | | | | |
| 2007 | | 2008 | | | |
| Sept. | Oct. | Nov. | Dec. | Jan. | Feb. | Mar. | Apr. | Avg. |
| Active | 3,761 | 3,876 | 3,950 | 3,743 | 4,154 | 4,254 | 4,304 | 4,249 | 4,036 |
| Pending | 251 | 150 | 235 | 191 | 262 | 287 | 312 | 349 | 255 |
| Sold | 177 | 236 | 168 | 190 | 187 | 227 | 246 | 270 | 213 |
| | | | | | | | | |
| Percent Change- Month Over Month | | | | | | |
| 2007 | | 2008 | | | |
| Sept. | Oct. | Nov. | Dec. | Jan. | Feb. | Mar. | Apr. | |
| Active | N/A | 3.1% | 1.9% | -5.2% | 11.0% | 2.4% | 1.2% | -1.3% | |
| Pending | N/A | -40.2% | 56.7% | -18.7% | 37.2% | 9.5% | 8.7% | 11.9% | |
| Sold | N/A | 33.3% | -28.8% | 13.1% | -1.6% | 21.4% | 8.4% | 9.8% | |
| Data Courtesy of the Arizona Regional Multiple Listing Service (ARMLS) | | |
Findings:
- The average sales price in Scottsdale for single-family resale homes was $754,008. The lowest priced sale was a 2 bedroom/1 bath, 864 square foot home for $165,000. The highest priced sale was $6,250,000 and that was for a 6 bedroom/7 bath, 11,200 square foot home.
- The average sales price was $754,008, versus the average asking price of $817,628, which represents a sales price to list price percentage of 92.2%.
- Active listings were down slightly to 4,249 from 4,304 in March. However, this is still higher than the 8 month average of 4,036.
- Pending sales jumped to 349, the highest level we have seen since I started tracking the results in September of 2007. This is an increase of 11.9% over March 2008.
- Sales were up to 270, well above the 8 month average of 213. Month-over-month improvement was 9.8%.
This is positive news for the Scottsdale AZ real estate market and if the pending homes from April successfully close, we are on track for strong May results.
I hope you found this information helpful. If you would like to see my full market trends report, which breaks out the information above into price bands, please click here and download the report called "Scottsdale Resale Market Trend Analysis". And, if you are interested in a custom report, I am happy to create one for you.