Scottsdale and Paradise Valley Market Report 4/8/16 to 5/8/16

Scottsdale and Paradise Valley Market Report

*Be sure to check out the NEW PRICE POINT ABSORPTION RATE DATA added to the Paradise Valley report!

MONTHLY UPDATE / Statistical Review of Scottsdale & Paradise Valley 4/8/16 – 5/8/16
*** The monthly report now includes the Absorption Rate ****

This 30-day Activity is for ALL of Scottsdale, AZ.  The MLS reports:

Between 4/8/16 & 5/8/16, the Scottsdale and Paradise Valley Market Report shows approximately six months of inventory, making it neutral for Buyers & Sellers.Scottsdale Active, Under Contract and Closed Update for Single-Family Residences

  • New Listings Added to the MLS: 599 Medium Price: $625K
  • Total Active Listings on the Market: 2,478 Medium Price: $830K
  • Under Contract/Pending Sale for This Period: 591 Medium Price: $549K
  • All Under Contract/Pending Sale: 792 Medium Price: $582K
  • Closed Escrow This Period: 512 Medium Price: $500K
  • Medium Days on Market: 64 Medium Sold Square Foot Price: $210
  • Total Year to Date Closed Listings: 1,647 Medium Price:$495K
  • Closed Listings the Same Period Last Year (4/8/15 – 5/8/15): 494 Medium Price:$500K
  • Medium Days on Market: 66 Medium Sold Square Foot Price: $$200

The **Absorption Rate is 6.4 months of inventory for all of Scottsdale.

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The Monthly Activity for Paradise Valley, AZ – 4/8/16 – 5/8/16.  The MLS reports:

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

  • New Listings: 58 added to the MLS Medium Price: $2.7M
  • Total Active PV Listings on the Market: 396 Medium Price: $3M
  • Under Contract/Pending This Period: 36 Medium Price: $1.9M
  • Total Under Contract: 64 Medium Price: $1.78M
  • Closed Escrow This Period: 24 Medium Price: $1,790M
  • Average Days on Market: 198 Average Price Per Square Foot: $333
  • Year to Date Closed Escrows: 97 Medium Price: $1.9M
  • Average Days on Market: 158 Average Sold Square Foot Price: $345
  • Closed Listings the Same Period Last Year (4/8/15 – 5/8/15): 47 Closed Medium Price:$2M
  • Medium Days on Market: 138 Medium Price per Square Foot: $388

The ‘overall’ Absorption rate is 19 months of inventory.

NEW – When looking at Paradise Valley homes priced between $900K – $3M, the absorption rate is six months.

***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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