Scottsdale, AZ Real Estate

Scottsdale offers world-class amenities, for anyone who lives or visits. There are top-rated school districts with a majority of them obtaining “excelling” status, as well as many charter a private schools.  State-of-the-art libraries are spread throughout the city, including Arabian Library, Palomino Library, Mustang Library, and Scottsdale Public Library. For those that love to shop, there are a vast array of top-notch shopping areas, including Kierland, Scottsdale Quarter, Scottsdale Fashion Square, Scottsdale Promenade and the future One Scottsdale.

For ease with commuting in and out of Scottsdale, Scottsdale Municipal Airport, one of the country’s busiest airports, is located in the heart of North Scottsdale. Surrounding the airport, is the Scottsdale Airpark, a business hub, home to hundreds of small and large businesses, that serve the cities residents and tourists.

Scottsdale also offers popular tourist attractions, including Taliesin West, a collection of buildings that has become a national historical landmark, developed by famed architect, Frank Lloyd Wright. For equine enthusiasts, as well as car buffs, Westworld is home to numerous horse shows, as well as the annual  Barrett Jackson car auction.

Scottsdale is home to many public parks and recreation areas, including a short distance to Saguaro Lake and Bartlett Lake. Surrounding the Scottsdale area are the beautiful McDowell Mountains and Pinnacle Peak.

Accessibility to most anywhere in the Valley is easily performed by close access to the Loop 101 and SR 51 freeways.

Arts and entertainment abound, by visiting the Scottsdale Center for the Performing Arts.

Scottsdale also offers top-rated hospitals and health care facilities, including the Mayo Clinic and Mayo Hospital, and Scottsdale Health Care system

Scottsdale, AZ – Real Estate Market Data – October 2012

Click here for full report – Scottsdale Market Data

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.

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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.