Search Scottsdale Real Estate Listings

Housing Market Tidbits:

• Demand has been weaker since 7/13. First time home buyer activity has been unusually low and is not compensating for the loss of strong investor demand from 2009-2013.
• Our supply of MLS properties had 24,993 active listings on August 1st including UCB homes (homes under contract but soliciting backup offers). This is a 3.5% reduction since July 1st, but overall a 35% increase over August 1, 2013. This is welcoming news for buyers who were frustrated with a lack of supply when shopping for homes a year ago.
• The market has now bounced back from the artificially low prices that we saw from the years of 2009-2011. We now see pricing a little lower than the level it would have been if it had increased from 2000 inline with the Consumer Price Index.
• All areas of Maricopa County are now showing annual positive appreciation on a price per sq. ft. basis with the exception of Aguilla, Guadalupe and Fort McDowell which account for under 50 total home sales annually. For the year, Scottsdale has increased 13%, Cave Creek 11%, Phoenix 18%, Carefree 23%, Fountain Hills 14%, Glendale 15%, Paradise Valley 10% and Tempe 14%
• Foreclosure starts for single family homes, condominiums, townhomes and patio homes rose 11% in the months of June and July. However, foreclosure starts have been decreasing dramatically and are now 29% lower than July of 2013. It is being predicted that foreclosures will continue to stabilize with the tightening of underwriting guidelines we have seen since 2009.
• Foreclosure completions have been on a steep decline as well with the number of completed trustee deeds down 45%, number single family homes reverting to lenders down by 28%, and the number of single family homes purchased at auction down by nearly 57%.
• Normal single family home resales have increased their market share to 72%, up from 61% a year ago. This has aided in the increased price per sq. ft. in the market. Normal re-sales are now by far the most common type of sale.
• Investor flips have decreased by 54% since July 2013.
• pre-forelosures are down 71% in volume. Now accounting for just 3% of total single family home sales. 
• Bank owned properties, foreclosures or REO's now account for just 2.7% of the total market.
  
  

Just Added!

We've just added some new community pages for condos and townhomes in Scottsdale. Check out Aerium, Aerium Encore, Allison, Arroyo Madera Estates, Arroyo Verde, Arroyo Verde Estates, Astragal, Artesia, Avian at Grayhawk and Aventura!