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Scottsdale, AZ Real Estate Market Report - Oct. 2017

Written by Posted On Sunday, 05 November 2017 20:43

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The Scottsdale real estate market was also a mixed bag in October. The number of homes sold increased, but the average sale price fell.  Sales were up 11% from September and up 8% from last October. The average sale price decreased 7% versus September and was down 5% from October 2016.  The 12 month moving average sale price was up 4% from a year ago,  now standing at $528,293, down $2,070 from the 12 month moving average through September, the steepest decrease in several years. The number of homes on the market is 2,779, 3% more than September, and 11% less than October 2016.  The days on market is at 92, down 9% from last year and the burn rate (homes pending/home sold) is at 4.21 months, slowly shifting back to a more balanced market.  The highest selling home for the month came in at $3,150,000. 

Here are the latest stats for the month ending 10/31/17:

Active Listings: 2,779

Homes Pending: 867

Homes sold in last 30 days: 647 (Up 11% from Sept. '17, Up 8% from Oct. '16)

Burn rate (Inventory on market / by homes currently under contract) = 4.21 months supply

Avg. Sale price (Solds): $496,598 (Down 7% from Sept. '17, Down 5% from Oct. '16)

Avg. price per sq. ft. (Solds): $221.51 (Up 1% from Sept. '17, Up 6% from Oct. '16)

Avg. Days on Market (Solds): 92 (Down 12% from Sept '17, Down 9% from Oct. '16)

To receive a free value analysis for your Scottsdale home please call Jerry Murphy at 602-334-3757 or e-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.

To search Scottsdale, AZ homes for sale please visit: www.JWMurphy.LongRealty.com

Like us on Facebook at: https://www.facebook.com/Jerry-Murphy-PhoenixScottsdale-Area-Real-Estate-Agent-154855641299985/

And follow me on Twitter at: JWMIMAZRealtor

Originally posted at: http://activerain.com/blogsview/5132638/scottsdale--az-real-estate-market-report---oct--2017

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