March 2016 MLS Numbers for Paradise Valley and Scottsdale

MONTHLY UPDATE / Statistical Review of Scottsdale & Paradise Valley

The monthly report now includes the *Absorption Rate.

The 30-Day Activity for All of Scottsdale, AZ
3/1/16 – 3/31/16, the MLS Reports:

The March 2016 MLS numbers for Paradise Valley and Scottsdale showed that both are experiencing a Seller's Market right now.Scottsdale Active, Under Contract and Closed Update for Single Family Residences

  • New Listings Added to the MLS: 645 Medium Price: $655K
  • Total Active Listings on the Market: 2,651 Medium Price: $829K
  • Under Contract/Pending Sale: 525 Medium Price: $590K
  • Total Under Contract: 745 Medium Price: $619K
  • Closed Escrow: 465 Medium Price: $475K
  • Total Year to Date Closed Listings: 1,107 Medium Price: $500K
  • Medium Days on Market: 65 Medium Sold Square Foot Price: $209
  • Closed Listings the Same Period Last Year (1/1/15 -3/31/15): 890 Medium Price: $463,750K

4% increase in price > prices going up.

The *Absorption Rate is 7.28 months of inventory for all of Scottsdale.

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The 30-Day Activity for Paradise Valley, AZ
2/5/16 – 3/7/16, the MLS Reports:

Paradise Valley Active, Under Contract and Closed Update for Single Family Residences

  • Added to the MLS: 78 Medium Price: $1.975M
  • Total Active PV Listings on the Market: 414 Medium Price: $2.250M
  • Under Contract/Pending: 29 this period Medium Price:$1.650M
  • Total Under Contract: 47 Medium Price: $1.725
  • Closed Escrow: 19 Medium Price: $1.6M
  • Year to Date Closed Escrows: 67 Medium Price: $1.580M
  • Average Days on Market: 105 Average Sold Square Foot Price: $342
  • Closed Listings the Same Period Last Year (1/1/15 -3/31/15): 51 Closed: 59
  • Medium Price: $1.867M

The *Absorption Rate is 24.3 months of inventory.

*The Absorption rate is the number of months it will take to possibly sell if no other homes come on the market.

Six months of inventory is the dividing line.  Anything under six months of inventory is a Seller’s Market.  Likewise, any number over six months is a Buyer’s market.

Call me for more information 602-359-5439.

* For past Market Update Statistics, please visit www.Scottsdale-ParadiseValleyHomes.com.

Please visit my newly updated web and mobile site at www.NorthScottsdaleHomes.com.

Wondering what your home is worth? Get a Free – No Obligation CMA Email your property address to me: ScottsdaleVictoria@gmail.com

Victoria Felice, Realtor Berkshire Hathaway Call/Text: 602-359-5432

Email ScottsdaleVictoria@gmail.com

* passion * energy * results

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About Scottsdale Victoria

Victoria Felice is a Broker Associate at Realty One Group and provides upscale home buyer and home sellers services in the Scottsdale and Paradise Valley area. Call or text Victoria today at 602-359-5432.

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