Scottsdale Homes 85251
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(Scottsdale Homes 85251)
Our Median Sales Price in July was $540,000, up 18.3% from $456,300 in July of 2019 and up 12.0% from $482,000 last month. The average sales price in July was $874,549, up 18.9% from $735,227 in July of 2019 and up 79.8% from $486,357 last month. July 2020 ASP was at highest level compared to July of 2019 and 2018.
There are currently (61) Homes for sale in 85251. (inventory is falling)
Scottsdale Homes 85251 ~ Newest Listings
Scottsdale Homes 85251 ~ Monthly Market Report
(Scottsdale Homes 85251) Our July property sales were 45, up from 41 in July of 2019 and 28.6% higher than the 35 sales last month. July 2020 sales were at their highest level compared to July of 2019 and 2018. July YTD sales of 226 are running -6.2% behind last year’s year-to-date sales of 241.
(Scottsdale Homes 85251) The total inventory of properties available for sale as of July was 64, up 25.5% from 51 last month and down -7.2% from 69 in July of last year. July 2020 Inventory was at the lowest level compared to July of 2019 and 2018.
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 July was 54, up from 43 days last month and up from 45 days in July of last year. The July 2020 DOM was at its highest level compared with July of 2019 and 2018.
Selling Price / 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 July 2020 selling price per square foot of $330 was up 15.8% from $285 last month and up 15.0% from $287 in July of last year.
Selling Price (vs) Listing Price
The selling price vs listing price reveals the average amount that sellers are agreeing to come down from their 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 July 2020 selling price vs list price of 96.4% was equal to 96.4% last month and up from 94.7% in July of last year.
Whether you’re thinking about buying or selling, you can contact us directly to discuss your local market. We’d love to be your trusted real estate adviser if you’re looking to make a change this year. Please feel free to contact us with any questions, as we will be happy to hear from you – Thanks!! (480)208-7955 ~ We are located next to Paradise Valley (See Map Here) ~ You can also see us at Arizona Luxury Homes 🙂