Scottsdale & Paradise Valley Residential Report for Month of June. (data for month of May)
Paradise Valley: May saw a decrease in inventory in the homes for sale in the $1 - $2 million category as buyers took advantage of a chance to live in Paradise Valley at an affordable entry price. The price paid for a home versus the list price was 89.9% in this price range.
Homes priced over $2 million also saw inventory shrink as sales were up from $8.1 million to $24.7 million from the prior month. The price paid for a home was 84.1% of list price.
Scottsdale:
Homes priced $400,000 - $ 1 million saw sales stay steady however the number of homes available for sale shrank from 1747 to 1613.
Homes priced $1 million - $ 2 million saw inventory drop from 671 to 625 as sales were up from 19 to 34, almost double the prior month’s sales.
Homes priced over $2 million saw modest gains in sales and a slight decrease in inventory.
Conclusion: Appears buyers have felt the time to buy is now as some areas have seen modest price gains and inventory has been steadily declining in the under $ 2 million ranges. Buyers that waited for shadow inventory to enter the market or more negative news to impact prices risk not getting a great deal in hopes of getting a better deal- a risky strategy that many buyers have apparently avoided.
For anyone looking for a bargain there are excellent opportunities in the over $2 million category.
Paradise Valley homes priced $1 million to $2 million
New Volume Active Volume Sold Volume Sold Volume New Avg List Active Avg List Sold Avg List Sold Avg Sale SP/LP Ratio
(list price) (sale price)
May-10 $39,036,000 $249,401,100 $13,414,999 $12,057,500 $1,697,217 $1,511,521 $1,676,874 $1,507,187 89.9
Apr-10 $33,459,000 $273,670,095 $18,691,899 $16,618,500 $1,520,863 $1,503,681 $1,437,838 $1,278,346 88.9
Mar-10 $50,179,494 $265,167,995 $19,218,499 $17,565,000 $1,520,590 $1,515,245 $1,372,749 $1,254,642 91.4
Feb-10 $45,223,899 $268,016,998 $13,578,000 $11,933,000 $1,458,835 $1,522,823 $1,508,666 $1,325,888 87.9
Jan-10 $44,414,300 $258,813,999 $4,495,000 $4,310,000 $1,432,719 $1,531,443 $1,498,333 $1,436,666 95.9
Dec-09 $28,359,500 $258,958,198 $12,405,900 $10,796,250 $1,492,605 $1,541,417 $1,378,433 $1,199,583 87
Paradise Valley homes priced $ 2 million plus
New Volume Active Volume Sold Volume Sold Volume New Avg List Active Avg List Sold Avg List Sold Avg Sale SP/LP Ratio
(list price) (sale price)
May-10 $75,626,000 $890,630,934 $29,415,999 $24,740,000 $3,781,300 $4,453,154 $3,268,444 $2,748,888 84.1
Apr-10 $68,867,000 $940,008,323 $9,234,000 $8,112,500 $3,130,318 $4,413,184 $3,078,000 $2,704,166 87.9
Mar-10 $73,194,999 $944,183,324 $29,932,000 $26,384,000 $3,485,476 $4,474,802 $2,993,200 $2,638,400 88.1
Feb-10 $89,859,999 $966,801,324 $23,671,500 $19,010,000 $3,744,166 $4,455,305 $3,945,250 $3,168,333 80.3
Jan-10 $107,517,500 $919,613,324 $24,264,000 $20,782,750 $3,982,129 $4,358,356 $3,033,000 $2,597,843 85.7
Dec-09 $57,890,900 $953,861,324 $36,008,500 $32,460,000 $3,046,889 $4,316,114 $3,273,500 $2,950,909 90.1
Scottsdale homes priced $400,000 to $1 million
New Listings Active Listings Sold Listings Months Inventory
May-10 303 1,613 204 7.91
Apr-10 401 1,747 203 8.61
Mar-10 394 1,753 203 8.64
Feb-10 352 1,734 137 12.66
Jan-10 416 1,719 116 14.82
Dec-09 277 1,699 176 9.65
Scottsdale homes priced $1 million to $ 2 million
New Listings Active Listings Sold Listings Months Inventory
May-10 69 625 34 18.38
Apr-10 67 671 19 35.32
Mar-10 94 677 42 16.12
Feb-10 91 682 27 25.26
Jan-10 123 668 31 21.55
Dec-09 71 678 33 20.55
Scottsdale homes priced $ 2 million plus
New Listings Active Listings Sold Listings Months Inventory
May-10 39 331 13 25.46
Apr-10 28 346 11 31.45
Mar-10 31 344 12 28.67
Feb-10 31 345 15 23
Jan-10 40 353 13 27.15
Dec-09 25 352 8 44
