Scottsdale, AZ – Real Estate Market Data – August 2012
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August Property sales were 620, down 5.9% from 659 in August of 2011 and 4.0% higher than the 596 sales last month. August 2012 sales were at a mid level compared to August of 2011 and 2010. August YTD sales of 5,551 are running 0.6% ahead of last year’s year-to-date sales of 5,519.
The Median Sales Price in August was $305,000, up 15.1% from $265,000 in August of 2011 and down 10.3% from $340,000 last month. The Average Sales Price in August was $400,485, up 13.9% from $351,458 in August of 2011 and down 4.8% from $420,853 last month. August 2012 ASP was at the highest level compared to August of 2011 and 2010.
The Total Inventory of Properties available for sale as of August was 2,261, up 3.5% from 2,184 last month and down 19.0% from 2,790 in August of last year. August 2012 Inventory was at its lowest level compared with August of 2011 and 2010. A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers. The August 2012 MSI of 3.6 months was at its lowest level compared with August of 2011 and 2010.
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 August was 62, down 12.7% from 71 days last month and down 33.3% from 93 days in August of last year. The August 2012 DOM was at its lowest level compared with August of 2011 and 2010.
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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.