85262 Market Summary For August 2018

Dated: 09/10/2018

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Let’s start with the ARMLS numbers for single-family home sales in 85262 for August 1st, 2018 compared to August 1st, 2017:

Active Listings: 363 vs 396 last year – down 9%
Pending Sales: 39 vs 39 last year – no change
Monthly Sales: 34 vs 48 last year – down 29.2%
Annual Avg $/Sq. Ft.: $279 vs $266 – up 4.9%
Days on Market (monthly sales): 266 vs 206 last year – up 29.1%
Months Supply: 10.7 vs 8.3 last year – up 29%

While many parts of the valley can be classified as a sellers market, it’s a different story in 85262.

Homes are taking almost 30% longer to sell than the same time last year and on average, are selling for 93.3% of their asking price. That’s almost 3% less than the city of Scottsdale as whole where homes are selling for 96.2% of their asking price on average.

While the number of active listings is down 9% compared to last year, the drop in the number of listings is a seasonal trend and will not be enough to swing conditions in favor sellers.

In a buyers market such as this, homeowners thinking of selling should really think about the price their asking for their homes to determine if it’s appropriate given the high supply and lower demand in 85262.

If we can answer any questions you may have about buying or selling a home, current market conditions in your neighborhood, or want to find out how much your home is worth, please give us a call at 480-648-9253 or email us at [email protected].

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Carmelle Bernier

Hello. It’s always a pleasure for me to have the opportunity to introduce myself and how my professional real estate services can benefit you. With over 23 years of experience, representing hundred....

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