Scottsdale AZ – Real Estate Market Data – June 2011

Click here for full report – Scottsdale 2011-06

Property Sales

June Property sales were 831, up 13.8% from 730 in June of 2010 and 8.9% higher than the 763 sales last month. June 2011 sales were at their highest level compared to June of 2010 and 2009. June YTD sales of 4,240 are running 14.4% ahead of last year’s year-to-date sales of 3,707.

Prices

The Median Sales Price in June was $286,000, down 6.2% from $305,000 in June of 2010 and up 10.5% from $258,900 last month. The Average Sales Price in June was $396,492, down 6.7% from $425,139 in June of 2010 and up 5.0% from $377,689 last month. June 2011 ASP was at the lowest level compared to June of 2010 and 2009.

Inventory & MSI

The Total Inventory of Properties available for sale as of June was 3,159, down 5.8% from 3,354 last month and down 31.6% from 4,619 in June of last year. June 2011 Inventory was at its lowest level compared with June of 2010 and 2009.

A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers. The June 2011 MSI of 3.8 months was at its lowest level compared with June of 2010 and 2009.

Market Time

The average Days On Market (DOM) shows how many days the average Property is on the market before it sells. An upward trend in DOM tends to indicate a move towards more of a Buyer’s market, a downward trend a move towards more of a Seller’s market. The DOM for June was 90, down 2.2% from 92 days last month and down 3.2% from 93 days in June of last year. The June 2011 DOM was at its lowest level compared with June of 2010 and 2009.

Copyright © Coldwell Banker Residential Brokerage Data is provided courtesy of Arizona Regional Multiple Listing Service, Inc.; Tucson Association of Realtors and Prescott Area Association of Realtors and may not reflect all relevant real estate activity. Coldwell Banker Residential Brokerage does not guarantee the accuracy of this information. It is the responsibility of any buyer or seller to verify any and all information relevant to such consumer’s real estate transaction.

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Coldwell Banker Residential Brokerage provides comprehensive real estate and relocation services for Greater Phoenix, Greater Tucson, Prescott and Lake Havasu City. Our AZrelocation Blog will provide you with extensive market data -- both on the metro and city levels -- along with relocation trends, area highlights and other valuable information.
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