Here are the October 2009 results for the Scottsdale AZ real estate market. This analysis looks at the sales performance of single-family homes in Scottsdale, Arizona.
Things were more or less the same as they were in September, but a few items were slightly off. The number of active homes for sale continues to rise. Pending sales were down slightly and the number of home sales stayed the same.
October 2009 Findings
Active Homes for Sale: The number of homes on the market increased for the second month in a row, to 2,917, up another 3.1%. This figure had been as high as 4,007 in February of 2009. The 12 month average for this figure is 3,403, so we are still tracking well below that.
Pending Home Sales: Pending sales continue to stay in the above 500 range. At the end of October, there were 514 pending home sales, down slightly from September’s 523. The 12 month average for pending sales is 424.
Homes Sold: Home sales were even with September at 351. We saw a 12 month high of 429 in June of this year. The 12 month average for home sales is 294.
Sales Price to List Price: 93.7% – This is the just a tenth of a percentage point off of September. This is the second highest we have seen this figure in well over a year.
October was a decent month for Scottsdale AZ real estate. Sales stayed at the same pace and pending sales were down slightly. One thing to keep an eye on is the number of active homes for sale. In order to see the market improve, we want to see this number decrease, not increase, which is has been for the last two months.
Disclaimer: Data and information was pulled from the Arizona Regional MLS (ARMLS) as of 11/1/2009 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
