North Scottsdale Market Report, January 2008
Considering that January is the last declining month in the seasonal sales trends, North Scottsdale’s market is already on the rise. The sales are up 18% comparing to December 2007 at average reduction in price of 13%.
Disclaimer: these statistics below include the North Scottsdale neighborhoods of Rio Verde and Pinnacle Peak.
Figuring out the right value of your property is crucial in this market, but looks like North Scottsdale is on the money. The condos’ and townhouses’ market looks stable as well. The sale volume is a little down, but don’t let the % number to mislead you just the because the number of sold properties is too small to analyze. February is the turn-around month in seasonal sales trends, so we should be seeing sales volume increase within weeks.
Single Family Homes Sales Report
| Average | Jan-07 | Dec-07 | Jan-08 | % Change Jan-08/Dec-07 | % Change 08/07 |
|---|---|---|---|---|---|
| Asking Price | $1,041,116 | $919,584 | $799,076 | -13.10% | -23.25% |
| Sales Price | $985,726 | $861,702 | $749,790 | -12.99% | -23.94% |
| % of Asking Price | 94.68% | 93.71% | 93.83% | 0.13% | -0.90% |
| $/SQFT | $334.03 | $288.77 | $271.86 | -5.86% | -18.61% |
| Days on Market | 147 | 181 | 189 | 4.42% | 28.57% |
| Total Transactions | 224 | 150 | 177 | 18.00% | -20.98% |
Condos and Townhouses Sales Report
| Average | Jan-07 | Dec-07 | Jan-08 | % Change Jan-08/Dec-07 | % Change 08/07 |
|---|---|---|---|---|---|
| Asking Price | $428,701 | $307,863 | $396,551 | 28.81% | -7.50% |
| Sales Price | $412,503 | $294,869 | $370,925 | 25.79% | -10.08% |
| % of Asking Price | 96.22% | 95.78% | 93.54% | -2.34% | -2.79% |
| $/SQFT | $273.00 | $208.83 | $240.86 | 15.34% | -11.77% |
| Days on Market | 125 | 174 | 212 | 21.84% | 69.60% |
| Total Transactions | 48 | 36 | 27 | -25.00% | -43.75% |
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