Real Estate in Anthem, Phoenix, and Scottsdale
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Scottsdale, AZ Real Estate Market Report – November 2016

Scottsdale Fashion Square

 

November continued to show a leveling off in the Scottsdale real estate market.  Sales activity was down again, 3% from October, and the average sale price of those homes actually decreased by 1%.  Year over year home sales were up 22%, but the year over year sales price November 2016 vs. November 2015 was flat. The 12 month moving average sale price was also flat month over month and increased only 2% year over year,  now standing at $509,916.  The number of homes on the market is 3,574, up 15% over October, with the days on market at 98, 5% less than last year.  The burn rate (homes pending/home sold) is at 5.00 months, definitely a buyers market.  And the highest selling home for the month came in at $4,695,000. Heading toward the new year we are seeing a continued downward trend in the Scottsdale real estate market. Stay tuned for further updates.

Here are the latest stats for the month ending 11/30/16:

Active Listings: 3,574

Homes Pending: 894

Homes sold in last 30 days: 583 (Down 3% from Oct. ’16, Up 22% from Nov. ’15)

Burn rate (Inventory on market / by homes currently under contract) = 5.00 months supply

Avg. Sale price (Solds): $516,953 (Down 1% from Oct. ’16, Same as Nov. ’15)

Avg. price per sq. ft. (Solds): $214.01 (Up 3% from Oct. ’16, Up 3% from Nov. ’15)

Avg. Days on Market (Solds): 98 (Down 3% from Oct. ’16, Down 5% from Nov. ’15)

To receive a free market analysis for your Anthem home please call Jerry Murphy at 602-334-3757 or e-mail: jwmurphy@longrealty.com

To view market reports for other areas please visit: www.JWMurphy.LongRealty.com

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Posted on December 14, 2016 at 7:24 pm by Jerry Murphy

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