Scottsdale Home Sales - First Quarter 2009
Here are the figures for Scottsdale's sales activity for the first three months of the year.
This analysis looks at single-family resale home sales and has been broken down into three categories - Non-Distressed Sales, Short Sales (Pre-Foreclosure) and Lender-Owned Sales.
| Scottsdale Single-Family Resale Performance - Q1 2009 |
| Property Type | Active Listings | % of Total | Pending Sales | % of Total | Homes Sold | % of Total |
| Non-Distressed | 3,177 | 81% | 189 | 48% | 296 | 49% |
| Short Sales | 497 | 13% | 86 | 22% | 93 | 15% |
| Lender-Owned | 264 | 7% | 117 | 30% | 219 | 36% |
| TOTAL | 3,938 | 100% | 392 | 100% | 608 | 100% |
| | | | | | | |
| Property Type | Avg. Sold Price | Avg. Sq Feet (Sold) | Avg. Price per Sq. Ft. (Sold) | Cumulative Days on Market (Sold) | List Price to Sales Price | |
| Non-Distressed | $822,219 | 3,167 | $225.75 | 187 | 89% | |
| Short Sales | $494,776 | 3,037 | $157.22 | 209 | 94% | |
| Lender-Owned | $372,289 | 2,500 | $141.83 | 132 | 94% | |
| TOTAL | $611,022 | 2,907 | $185.37 | 170 | 91% | |
As you can see, the bulk of the homes for sale, 81%, fall into the non-distressed category. However short sales and lender-owned homes make up just over half of the pending sales and sales. You can also see that the prices for short sale and lender-owned properties are significantly lower than the non-distressed properties. Another item of note is that there is a larger discrepancy between list price and sale price for non-distressed homes (89% of asking price) than the distressed sale homes (94% of asking price.)
In future posts, I will look at the same analysis for two of North Scottsdale's main zip codes, 85255 and 85262.
Disclaimer:
Information herein deemed reliable but not guaranteed. Data and information were pulled from the Arizona Regional MLS (ARMLS) on 4/1/2009 and can change at any time. This blog represents the opinion of the author. No warranties implied or expressed.
Copyright © 2009 Heather Tawes Nelson