Scottsdale, AZ – Real Estate Market Data – October 2012

Scottsdale, AZ  Real Estate Market Data – October 2012

Click here for full report – Scottsdale Market Data

 

To search for real estate in Scottsdale, go to www.AZmoves.com – Scottsdale

Average Sales Price

 

Property Sales

October Property sales were 592, up 4.8% from 565 in October of 2011 and 6.1% higher than the 558 sales last month. October 2012 sales were at their highest level compared to October of 2011 and 2010. October YTD sales of 6,702 are running 0.2% ahead of last year’s year-to-date sales of 6,686.

Prices

The Median Sales Price in October was $320,000, up 8.5% from $295,000 in October of 2011 and up 1.6% from $315,000 last month. The Average Sales Price in October was $414,342, up 9.0% from $379,981 in October of 2011 and up 5.0% from $394,499 last month. October 2012 ASP was at the highest level compared to October of 2011 and 2010.

Inventory & MSI

The Total Inventory of Properties available for sale as of October was 2,547, up 10.5% from 2,305 last month and down 13.4% from 2,941 in October of last year. October 2012 Inventory was at its lowest level compared with October of 2011 and 2010. A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers. The October 2012 MSI of 4.3 months was at its lowest level compared with October of 2011 and 2010.

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 October was 56, down 18.8% from 69 days last month and down 31.7% from 82 days in October of last year. The October 2012 DOM was at its lowest level compared with October of 2011 and 2010.

To search for real estate throughout Arizona, go to www.AZmoves.com

 

Closed Sales

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Months Supply of Inventory

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Days on Market

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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.

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About azrelocation

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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