Scottsdale AZ Single-Family Home Sales - November 2009
Here are November's figures for the Scottsdale AZ real estate market. This monthly analysis looks at the resale market in Scottsdale for single-family homes.
November was not the strongest month for Scottsdale real estate. We did see inventory decrease slightly, which is good, but pending sales and actual home sales continued to drop off. On a positive note though, all of the figures are tracking at a better rate than the 12 month average.
| 2008 | 2009 | | | | | | | | | | | |
| Number of Homes | | | | | | | | | | | | |
| Dec. | Jan. | Feb. | Mar. | Apr. | May | Jun. | Jul. | Aug. | Sep. | Oct. | Nov. | Avg. |
| | | | | | | | | | | | | |
| Active | 3,790 | 3,964 | 4,007 | 3,933 | 3,661 | 3,224 | 2,907 | 2,782 | 2,752 | 2,829 | 2,917 | 2,910 | 3,306 |
| Pending | 212 | 255 | 287 | 391 | 487 | 562 | 574 | 501 | 520 | 523 | 514 | 483 | 442 |
| Sold | 228 | 174 | 199 | 242 | 301 | 348 | 429 | 392 | 330 | 351 | 351 | 345 | 308 |
| | | | | | | | | | | | | |
| Percent Change Month Over Month | | | | | | | | | |
| Dec. | Jan. | Feb. | Mar. | Apr. | May | Jun. | Jul. | Aug. | Sep. | Oct. | Nov. | |
| | | | | | | | | | | | | |
| Active | -6.9% | 4.6% | 1.1% | -1.8% | -6.9% | -11.9% | -9.8% | -4.3% | -1.1% | 2.8% | 3.1% | -0.2% | |
| Pending | -18.1% | 20.3% | 12.5% | 36.2% | 24.6% | 15.4% | 2.1% | -12.7% | 3.8% | 0.6% | -1.7% | -6.0% | |
| Sold | 28.8% | -23.7% | 14.4% | 21.6% | 24.4% | 15.6% | 23.3% | -8.6% | -15.8% | 6.4% | 0.0% | -1.7% | |
| | | | | | | | | | | | | |
| Sales Price to List Price Ratio | | | | | | | | | | |
| 2008 | 2009 | | | | | | | | | | | |
| Dec. | Jan. | Feb. | Mar. | Apr. | May | Jun. | Jul. | Aug. | Sep. | Oct. | Nov. | |
| 91.9% | 90.0% | 92.2% | 89.5% | 92.0% | 91.6% | 93.3% | 90.4% | 92.2% | 93.8% | 93.7% | 94.0% | |
Scottsdale AZ Real Estate Performance - November 2009
November 2009 Findings
Active Homes for Sale: The number of homes on the market decreased slightly to 2,910, down from October's 2,917. This is the first time we have seen this number go down month over month since August. The 12 month average is 3,306.
Pending Home Sales: Pending sales dropped below the 500 range for the first time since April of this year. At the end of November, there were 483 pending home sales. The high in pending sales came in June when there were 574. The 12 month average for pending sales is 442.
Homes Sold: The number of homes sold in November was down slightly to 345, off 6 from September and October's 351 sales respectively. The 12 month average for home sales is 308.
Sales Price to List Price: 94.0% - This is the highest this figure has been in the last twelve months, meaning homes in Scottsdale were selling for an average of 6% off of the asking price.
Overall, November was a lackluster month for Scottsdale AZ real estate. Sales dropped off slightly, but the drop in pending sales is disappointing and will definitely have an impact on December's figures. The one positive is that the number of homes for sale did decrease slightly.
Disclaimer: Data and information was pulled from the Arizona Regional MLS (ARMLS) as of 12/1/2009 & 12/2/2009 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