Scottsdale AZ Real Estate Market Performance for Single-Family Homes- Through June 2009
June was the strongest month so far this year for single-family resale homes in Scottsdale, Arizona. Homes for sale inventory dropped again, this time to under 3,000, when we were at over 4,000 in February this year. Pending sales were very high again and actual sales were phenomenal. The bulk of the activity is occurring in the lower price points, but we are also seeing decent activity in the luxury home segment as well.
| 2008 | | | | | | | | | 2009 | | | |
| Number of Homes | | | | | | | | | | | | |
| Jul. | Aug. | Sept. | Oct. | Nov. | Dec. | Jan. | Feb. | Mar. | Apr. | May | Jun. | Avg. |
| | | | | | | | | | | | | |
| Active | 3,872 | 3,839 | 3,839 | 3,969 | 4,072 | 3,790 | 3,964 | 4,007 | 3,933 | 3,661 | 3,224 | 2,907 | 3,756 |
| Pending | 327 | 300 | 297 | 247 | 259 | 212 | 255 | 287 | 391 | 487 | 562 | 574 | 350 |
| Sold | 286 | 274 | 235 | 228 | 177 | 228 | 174 | 199 | 242 | 301 | 348 | 429 | 260 |
| | | | | | | | | | | | | |
| Percent Change Month Over Month | | | | | | | | | |
| Jul. | Aug. | Sept. | Oct. | Nov. | Dec. | Jan. | Feb. | Mar. | Apr. | May | Jun. | |
| | | | | | | | | | | | | |
| Active | -1.8% | -0.9% | 0.0% | 3.4% | 2.6% | -6.9% | 4.6% | 1.1% | -1.8% | -6.9% | -11.9% | -9.8% | |
| Pending | -3.3% | -8.3% | -1.0% | -16.8% | 4.9% | -18.1% | 20.3% | 12.5% | 36.2% | 24.6% | 15.4% | 2.1% | |
| Sold | -10.9% | -4.2% | -14.2% | -3.0% | -22.4% | 28.8% | -23.7% | 14.4% | 21.6% | 24.4% | 15.6% | 23.3% | |
| | | | | | | | | | | | | |
| Sales Price to List Price Ratio | | | | | | | | | | |
| 2008 | | | | | | 2009 | | | | | | |
| Jul. | Aug. | Sept. | Oct. | Nov. | Dec. | Jan. | Feb. | Mar. | Apr. | May | Jun. | |
| 92.7% | 92.8% | 94.8% | 92.1% | 91.2% | 91.9% | 90.0% | 92.2% | 89.5% | 92.0% | 91.6% | 93.3% | |
| | | | | | | | | | | | | |
June 2009 Findings
Active Homes for Sale: The number of homes for sale dropped to 2,907, a 9.8% decrease over May. In February, this figure was 4,007. The twelve month average for this figure is 3,756.
Pending Home Sales: There were 574 homes pending at the end of June, a 2.1% increase over May. This is significantly higher than the 12 month average of 350.
Homes Sold: There were 429 home sales in June. This is the first time this figure has broken 400 since I started tracking this information in September of 2007.
Overall, June was a great month for Scottsdale AZ single family home sales, continuing the trends we have been seeing since January of this year. Based on the large number of pending sales, July's sales figures should continue to be strong.
Disclaimer: Data and information was pulled from the Arizona Regional MLS (ARMLS) as of 7/1/2009 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