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AUGUST 2008 STATISTICS
Average Days on the Market The average Days on the Market (DOM) for August 2008 for NEW listings was 11 Days, as compared to last year's same month of 201 Days, clearly indicating the market's speed is increasing. The average DOM for all listings was 177 Days as compared to last year's same month of August 2007 of 392 Days, a substantial indicator that the market's momentum is increasing.
Months of Inventory The number of months inventory represents how long of a time span the current number of homes for sale would take to be sold. The higher the number, the more of a buyer's market is, as it represents the supply side. The number of months inventory for August 2008 was 9.68 months, as compared to last year's same month of August 2007 of 12.18 months, a good sign that the market is rebounding. When compared to last month's July 2008 of 9.19 months, it increased slightly revealing that the market is still somewhat unstable.
Number of New Listings Monthly Statistics for August 2008 appears to indicate the market is beginning to improve with a slight decrease in the number of new listings (18,537) reducing the supply side of homes coming onto the market as compared to last year's same month (21,035). Also, the number of new listings coming onto the market when compared to July 2008 (18,645), the number of new listing per month coming onto the market decreased.
Average Listing Price The average listing price in August came to $375,768, down from last year's same month of $388,175. When compared to July 2008 ($379,382), the average listing price decreased slightly in value by only $3,614 over the past month.
Number of Homes Sold The number of homes sold in August 2008 increased substantially (8,063) as compared to last year's same month of August 2007 of 6,756. However, when compared to last month's July 2008 (8,598) and is up considerably, indicating that less sales are occurring.
Average Sales Price of Homes Sold The average selling price for August 2008 came in at $192,122, substantially lower from the same month last year of $234,854. When compared to last month's, July 2008, the sales price increased slightly up from $177,311.
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Location Characteristics: Upscale Scottsdale is one of the most sought after location. in the valley. The McDowell Mountains border on the east end, with mountainside homes which have incredible views and fabulous valley sunsets.
About Jackie Dokos:
Jackie Dokos has over 7 years of full-time experience in residential, commercial & investment real estate sales in Arizona. Jackie resides in Mesa with her husband, Mike Dokos, who is also a REALTOR and her 3 Cavalier King Charles Spaniels. She loves helping people buy or sell their own homes or investment property. She owns rental properties and has first hand experience with "fix & flip" houses.
She was born in Chicago, Illinois and grew up in Melrose Park, Northlake, Schiller Park & Franklin Park, Illinois. She has 9 brothers & sisters: Jill, Dayle, Danny, Timmy, Billy, Bobby, Pat, Noreen and Eddie. She attended West Leyden High School and St. John Vianney Grade School. She has a degree in Accounting from the College of DuPage and a Bachelor Degree in Sociology from Illinois State University.
She has a Doctorate Degree in Chiropractic and has owned and operated her own chiropractic practice in Chandler, AZ. She retired from Chiropractic in 1996 due to Fibromyalgia. She has helped Naturopathic Doctors, Chiropractors and Allopathic Medical Doctors with commercial property for their business needs as well as their personal residences.
These reports reflect the views and opinions of their authors and are not necessarily the views and opinions of Realty Times.
