Scottsdale Arizona Homes
Scottsdale Arizona Homes
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Scottsdale Arizona ~ Monthly Market Report
by: Coldwell Banker and Scottsdale Arizona Homes ~~ (See Video Report Here) ~~
11576 N 131st Street Scottsdale, AZ 85259
15127 N 100th Way Scottsdale, AZ 85260
8242 E Elm Drive Scottsdale, AZ 85257
2902 N 84th Place Scottsdale, AZ 85251
865 N Roosevelt Circle Scottsdale, AZ 85257
4709 N 83rd Street Scottsdale, AZ 85251
1801 N 73rd N Place Scottsdale, AZ 85257
5102 E Fellars Drive Scottsdale, AZ 85254
4901 E Larkspur Drive Scottsdale, AZ 85254
12724 E Sahuaro Drive Scottsdale, AZ 85259
14016 E Milton Court Scottsdale, AZ 85262
10040 E Happy Valley Road Unit 324 Scottsdale, AZ 85255
17828 N 80th Place Scottsdale, AZ 85255
8431 E Orange Blossom Lane Scottsdale, AZ 85250
14483 N 100th Way Scottsdale, AZ 85260
8144 E Quarterhorse Trail Scottsdale, AZ 85258
34451 N 92nd Place Scottsdale, AZ 85262
6520 E Monterosa Street Scottsdale, AZ 85251
Property Sales
March Property sales were 868, equal to 868 in March of 2017 and 31.3% higher than the 661 sales last month. March 2018 sales were at their highest level compared to March of 2017 and 2016. March YTD sales of 2,162 are running 4.6% ahead of last year’s year-to-date sales of 2,066.
Prices
The Median Sales Price in March was $452,250, up 7.7% from $420,000 in March of 2017 and up 4.2% from $434,000 last month. The Average Sales Price in March was $576,540, up 9.4% from $527,008 in March of 2017 and up 2.3% from $563,354 last month. March 2018 ASP was at the highest level compared to March of 2017 and 2016.
Inventory
The Total Inventory of Properties available for sale as of March was 3,355, up 13.2% from 2,964 last month and down 2.3% from 3,435 in March of last year. March 2018 Inventory was at its lowest level compared with March of 2017 and 2016.
Market Time
The average Days On Market (DOM) shows how many days the average Property is on the market before it sells. An upward trend in DOM tends to indicate a move towards more of a Buyer’s market, a downward trend a move towards more of a Seller’s market. The DOM for March was 70, up 4.5% from 67 days last month and down 1.4% from 71 days in March of last year. The March 2018 DOM was at a mid level compared with March of 2017 and 2016.
Selling Price per Square Foot
The Selling Price per Square Foot is a great indicator for the direction of Property values. Since Median Sales Price and Average Sales price can be impacted by the ‘mix’ of high or low end Properties in the market, the selling price per square foot is a more normalized indicator on the direction of Property values. The March 2018 Selling Price per Square Foot of $235 was up 1.5% from $232 last month and up 8.3% from 217 in March of last year.
Selling Price vs Original Listing Price
The Selling Price vs Original Listing Price reveals the average amount that Sellers are agreeing to come down from their original list price. The lower the ratio is below 100% the more of a Buyer’s market exists, a ratio at or above 100% indicates more of a Seller’s market. The March 2018 Selling Price vs Original List Price of 95.2% was down from 95.4% last month and up from 94.6% in March of last year.
Whether you’re thinking about buying or selling, you can contact me directly to discuss your local market. I’d love to be your trusted real estate advisor if you’re looking to make a change this year. Please feel free to contact me with any questions, as I will be happy to hear from you – Thanks!! (480)208-7955
Corey & Karina Frederic
Coldwell Banker Residential Brokerage