Here is a monthly real estate report for Scottsdale, Arizona home sales for August 2011. The report looks at single-family home sales on a monthly basis over the last twelve months.
This information is divided into three separate groupings – Scottsdale homes currently on the market, pending Scottsdale home sales and actual Scottsdale homes sold last month.
August 2011 Highlights for Scottsdale AZ Homes for Sale:
- Active Scottsdale Homes for Sale: The number of active homes on the market fell again in August to 1,597. The figure has been consistently decreasing since January. About this time last year, there were 2,725 homes on the market. The 12 month average for this statistic is 2,265, so we are well under that.
- Pending Homes Sales in Scottsdale: Pending sales were down a little bit over July to 504. This is below the 12 month average of 528 pending sales. Some of this can be attributed to seasonality.
- Scottsdale Homes Sold: Sales were up slightly (3.1%) in August to 427. This figure is slightly higher than the 12 month average of 403 sales.
- Sales Price to List Price: 93.3% – This is more or less what we have been seeing for this ratio. It has been in the low 90%’s for the last year.
August 2011 was a decent month for home sales in Scottsdale Arizona. We continue to see inventory drop, which is shrinking the supply-side of things. However, demand was off a little in August with smaller pending figures. Sales ticked up slightly, which is a positive. Looking forward to September, we may see sales numbers decline again as there is a smaller number of pending sales.
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Disclaimer: Data and information was pulled from the Arizona Regional MLS (ARMLS) as of 9/1/2011 and can change at any time. The analysis looks at single-family resale homes for sale and home sales 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 © 2011 Heather Tawes Nelson
The inventory has really declined over the course of the year. Why do you think that has been happening? Have prices fallen that much also?
I think we are starting to see a little more normalization in the market – barring any more economic upsets. However, prices are not to the point of recovery yet. We are still seeing some price declines, but in other areas we are seeing price stabilization. A major key to our local real estate recovery is job recovery.