Up-To-The Minute Scottsdale Stats
Scottsdale has 1,399 single family homes actively on the market this morning. In the last, 7 days, 77 homes sold and closed escrow. At this rate, it would take 18 weeks (1,399 / 77) to sell them all. Or in “REALTOR speak”, we have 4.2 months of inventory.
This is considered a balanced market. A seller can sell and get what their home is worth, and then they can buy at a fair price. No bidding with multiple offers. No languishing on the market forever.
Here’s an easy rule of thumb – less than 2 months inventory is a Seller’s market. More than 6 months inventory is great for Buyers wanting a deal. 3 to 5 months inventory is best and balanced.
A few other numbers: There are 17 contracts in escrow hoping the buyer can sell their home. There are 222 homes in escrow looking for backups. There are 32 homes pending, which means they will most probably close. That is a total of 271 homes in escrow and at 77 per week, they should all clear about 25 days.
Also of interest; 3 listings expired, 8 were taken off the market, and 25 were cancelled. That is 36 homes no longer for sale. This is normal, but it does demonstrate the importance of listing with a winner, like those Callaways.
If you are thinking of buying or selling, we have a New Year’s offer called, FREE, FREE, FREE. Call or text 602-796-5751 to find out more.
- Joseph
