May 2009 was another very positive month for the Scottsdale AZ real estate market. Building on the last several months of great performance, sales of single-family homes were up, pendings are at the highest level I have seen and inventory continues to drop off.
May 2009 Findings
- Active Homes for Sale: This figure dropped to 3,224, an 11.9% decrease over April. This figure is well below the 12 month average of 3,843 and is the lowest I have seen in 21 months of tracking this data.
- Homes Pending Sale: There were 562 pending home sales at the end of May. This number is significantly higher than the 12 month average of 330 and was up another 15.4% over April.
- Home Sales: Home sales jumped again in May to 348, a 15.6% increase over April. This is the fifth month in a row we have seen increases in this figure. The majority of this growth in home sales is in the lower price points and/or sales of distressed properties – i.e. short sales or lender-owned homes.
There seems to be a lot of momentum going in the Scottsdale single-family market right now and based on the pending figures, June will be another strong month.
Disclaimer: Data and information was pulled from the Arizona Regional MLS (ARMLS) as of 6/1/2009 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
