Scottsdale Homes Sales News For November 2011
Posted by Artur Ciesielski on Monday, December 19th, 2011 at 3:28pm.Unlike may other parts of metro Phoenix, Scottsdale is more in tune with the regular trends the market has followed in the past. While inventory is low and demand is high, Scottsdale settled down for the winter like it usually does this time of year.
While inventory is low at 2,112 properties compared to 3,020 last year, the demand is lower as well. 316 homes sold in November. That brings inventory to 6.6 months, up from 5.2 months last month, but down from 9.3 months last year.
Much of this has to do with the high inventory of high priced luxury homes, which tend to follow a different cycle then the general market. That is to say, homes in Scottsdale under $400,000 are doing well and inventory is low, but homes above these price ranges had less demand and linger on the market longer.
Graph: Cromford Report
Written by: Artur Ciesielski | tel. 602.492.8004 | e-mail: artur@inphoenix.com
Artur is a Realtor and partner with inPhoenix Realty Group of HomeSmart Elite Group and imStudio and an aspiring flaneur, in the style of Nassim Nicholas Taleb's essay on "why I walk" - not the Canadian meaning. "Some of my best experiences and memories are from walking cities, ignoring warnings of bad and good." Currently he's in Phoenix or elsewhere when time allows, which is rarely, but that is going to change. You can find him running up miles on his car listening to NPR, cycling the urban Phoenix, in the office on Central or working at one of the many coffee bars in Urban Phoenix.
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