Scottsdale AZ Real Estate Market Performance for Single-Family Homes- Through April 2009
April 2009 was a great month for Scottsdale single family real estate. Active homes for sale are dropping, pending sales were way up and sales were very strong.
| 2008 | | | | | | | | | | 2009 | | |
| May | Jun. | Jul. | Aug. | Sept. | Oct. | Nov. | Dec. | Jan. | Feb. | Mar. | Apr. | Avg. |
| | | | | | | | | | | | | |
| Active | 4,063 | 3,941 | 3,872 | 3,839 | 3,839 | 3,969 | 4,072 | 3,790 | 3,964 | 4,007 | 3,933 | 3,661 | 3,913 |
| Pending | 364 | 338 | 327 | 300 | 297 | 247 | 259 | 212 | 255 | 287 | 391 | 487 | 314 |
| Sold | 300 | 321 | 286 | 274 | 235 | 228 | 177 | 228 | 174 | 199 | 242 | 301 | 247 |
| | | | | | | | | | | | | |
| Percent Change Month Over Month | | | | | | | | | |
| May | Jun. | Jul. | Aug. | Sept. | Oct. | Nov. | Dec. | Jan. | Feb. | Mar. | Apr. | |
| Active | -4.4% | -3.0% | -1.8% | -0.9% | 0.0% | 3.4% | 2.6% | -6.9% | 4.6% | 1.1% | -1.8% | -6.9% | |
| Pending | 4.3% | -7.1% | -3.3% | -8.3% | -1.0% | -16.8% | 4 .9% | -18.1% | 20.3% | 12.5% | 36.2% | 24.6% | |
| Sold | 11.1% | 7.0% | -10.9% | -4.2% | -14.2% | -3.0% | -22.4% | 28.8% | -23.7% | 14.4% | 21.6% | 24.4% | |
April 2009 Findings
Active Homes for Sale: The number of homes on the market dropped almost 7% from March to 3,661. This is the fewest number of homes on the market we have seen in the last year and it is well below the 12 month average of 3,913.
Pending Home Sales: Pending sales jumped to the highest level seen in the last 12 months to 487. This figure has been increasing dramatically month-over-month since Janaury of this year. The 12 month average for pending sales is 314.
Homes Sold: There were 301 home sales in April, a 24.4% increase over March. The last time this figure surpassed 300 was June of 2008. This figure has been growing month-over-month for the last three months.
Overall, April was a great month for Scottsdale single family homes. We have seen some momentum building over the last several months and with such high pending sales, May looks to be very promising.
Disclaimer: Information herein deemed reliable but not guaranteed. Data and information was pulled from the Arizona Regional MLS (ARMLS) as of 5/1/2009 and can change at any time. The analysis looks at single-family resale homes in Scottsdale AZ over the last 12 months. There may be new home inventory in these figures if the developer is using the MLS to market its homes.
Copyright © 2009 Heather Tawes Nelson