December was a good month to end the year for Scottsdale AZ real estate sales. Sales were up over November and inventory declined. The one concern is that pending sales dropped below the rolling 12 month average for the first time since March 2009.
December 2009 Findings
Active Homes for Sale: The number of homes on the market decreased over 5% to 2,755. This is the second month in a row where this number has declined. However, my guess is that a large part of the decline is due to the fact that many listings expired at the end of the month. The 12 month average is for active homes on the market is 3,220.
Pending Home Sales: Pending sales continued to drop. At the end of December, there were 438 pending sales, down 9.3% from November’s 483. This is the first time this figure has tracked behind the 12 month average of 461 pending sales since March 2009.
Homes Sold: Homes sales came in at 364, up 5.5% over November’s 345. Some of this activity can be attributed to people trying to close escrow before the end of the year. The 12 month average for home sales is 319.
Sales Price to List Price: 91.9% – This is about average for what we would expect. Homes are selling at average of 8% off of the asking price.
It was nice to see December’s sales figures go up to cap off the year. The key will be to keep inventories low and to get the pending sale pipeline strong again.
Disclaimer: Data and information was pulled from the Arizona Regional MLS (ARMLS) as of 1/1/2010 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
