Scottsdale and Paradise Valley Market Review 5/9/16 to 6/6/16

Statistical Review of Scottsdale & Paradise Valley 5/9/16 -6/6/16

*** The monthly report now includes the Absorption Rate ****
This 30-day activity is for ALL of Scottsdale, AZ.  The MLS Reports:

According to the Scottsdale and Paradise Valley Market Review 5/9/16 to 6/6/16, all of Scottsdale and the lower priced Paradise Valley markets are Buyers' markets.Scottsdale Active, Under Contract and Closed Update for Single-Family Residences

  • New Listings Added to the MLS: 569 Average Price: $800K
  • Total Active Listings on the Market: 2,338 Average Price: $1.236M
  • Under Contract/Pending Sale for This Period: 495 Average Price: $713K
  • All Under Contract/Pending Sale: 722 Average Price: $764K Average Days on MKT: 129
  • Closed Escrow This Period: 476 Average Price: $676K
  • Average Days on Market: 114 Average Sold Square Foot Price: $223
  • Total Year to Date Closed Listings: 2,711 Average Price: $662K
  • Closed Listings the Same Period Last Year (5/9/15 – 6/6/15): 2,122 Average Price: $642K
  • Average Days on Market: 116 Average Sold Square Foot Price: $215

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

The Monthly Activity for Paradise Valley, AZ (5/9/16 – 6/6/16). The MLS Reports:

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

  • New Listings: 48 added to the MLS Medium Price: $2.4M / Price per Sq Ft: $403
  • Total Active PV Listings on the Market: 365 Average Price: $2.95M / Price per Sq Ft: $442
  • Under Contract/Pending This Period: 18 Average Price: $1.8M / Average Days on MKT: 175
  • Total Under Contract: 42 Medium Price: $1.9M / Average Days on MKT: 167
  • Closed Escrow This Period: 37 Average Price: $1.935M
  • Average Days on Market: 174 Average Price per Sq Ft: $361
  • Year to Date Closed Escrows: 134 / Medium Price: $1.9M
  • Average Days on Market: 184 Average Sold Square Foot Price: $350
  • Closed Listings the Same Period Last Year (5/9/15 – 6/6/15): 45 Closed
  • Medium Price: $1.83M Average Days on Market: 146 Medium Price per Sq Ft: $358

The ‘overall’ Absorption Rate is 11 months of inventory.

NEW – When looking at Paradise Valley homes priced between $900K – $3M, the ‘absorption rate’ is two 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, Associate Broker - Scottsdale, Paradise Valley and North Scottsdale real estate

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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