Scottsdale Home Sales Update for September 2008
October 04, 2008
Scottsdale median home prices, units sold and active.
Sales of single family homes in Scottsdale were 240 in September: lower by 6% from August. That is not unusual at the summer transaction season ends but the Phoenix valley as a whole saw an increase in sales over August.
So the increase in inventory, decrease in pendings and solds is normal for this season. Still sales were up 28% over 2007 and only 15% less then 2006 which was still a good year.
| Scottsdale SFR measured on 10/2 of each month | September 2008 | August 2008 | September 2007 | September 2006 |
| Active listings | 3,885 | 3,870 | 3,744 | 2,983 |
Pending Listings | 289 | 296 | 243 | 369 |
| Homes Sold | 240 | 255 | 188 | 281 |
| Days on Market (active) | 143 | 161 | 128 | 108 |
| Months Supply | 16.5 | 13.4 | 18.1 | 9.9 |
| Active Listings Price/SF | $337.73 | $347.22 | $359.48 | $364.52 |
| Sales Success Rate | 29.1% | 32.0% | 27.6% | 38.2% |
| Median Sold Price per/SF | $231.96 | $230.70 | $266.07 | $275.09 |
| Median Sold Price (annualized) | $530.000 | $542.323 | $640.000 | $640.500 |
(data crunched by The Cromford Report on 10/2 of each month based on ARMLS data)
The median price continues to decline down 2% over last month and down 17% from last year. The median price here is annualized: it's a more accurate number less prone to big swings from month to month when a few sales can have a large influence. Look at the sales price per square foot, it's actually up -just slightly- over last month.
(The graph above shows sales from the 1st to the last day of each month)
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