South Scottsdale Homes: Real Estate Market Update Week Ending 9/10/18

by Administrator 12. September 2018 08:37

 

Week Ending 9/10/18      
  85257 85251 85250
Median List Price $387,000 $485,000 $484,950
Price/Foot (Active) $45.00 $272.00 $250.00
Average Days on Market 45 69 72
% of Properties with Price Decrease 45% 46% 54%
% Price Increase (Flip) 1% 6% 4%
% Relisted 5% 10% 13%
Inventory 86 90 54
Median House Rent $1,395 $2,500 $2,400
Most Expensive $749,000 $5,900,000 $3,200,000
Least Expensive $293,000 $229,900 $249,900
Market Action Index** 53 38 44
       
       
** NOTE: The Market Action Index measures the current rate of sale versus the amount of inventory. An Index above 30 implies a Seller's Market and below favors Buyers.

 

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Real Estate Market Outlook - August 2018

by Administrator 28. August 2018 06:55

 

It was a big week for housing news.  Wednesday, the National Association of Realtors reported Existing Home Sales tumbled for the fourth straight month falling to a seasonally-adjusted annual rate of 5.34 million in July, down 0.7% from June.  

Affordability issues are taking a toll on home buyers, especially for first timers facing ever-increasing prices on lower inventory and seeing home prices increasing faster than their incomes.  

Total home sales in July were 1.5% lower than the same period a year ago.  The median existing home prices for all housing types increased 4.5% in July to $269,600 – the 77th straight month of year-over-year gains.

For sales of existing single-family homes, the median price has climbed 4.6% from a year ago to $272,300.  Unsold inventory remained at a 4.3-month supply, unchanged from June and last July and remaining below the 6.0-month supply typically associated with a more balanced market.

Jefferies, LLC economist Ward McCarthy had this to say about the latest housing data.  “Housing activity in general has retreated from levels that were temporarily boosted by 2017 natural disasters –hurricanes and wild fires— that forced displaced households to seek alternative housing.  The housing sector is also undergoing an adjustment to affordability that is less attractive than it was for most of the cycle, as well as changes in the treatment of SALT deductions in the federal tax code.  That is the bad news.  The good news is that there is no evidence of the type of imbalances that could cause a sharp downturn, such as heavy inventories and/or rising mortgage default and delinquency rates.  We also note this is not the first temporary slowdown in housing activity this cycle.”

Also on Thursday, the Federal Housing Finance Agency (FHFA) released their latest House Price Index (HPI) showing home prices increased just 0.2% in June from May.  Economist William Doerner said although home prices rose in the second quarter, it was at a much slower pace than previously recorded in the past four years.  “Mortgage rates have increased by more than half a percentage point over the first six months of the year.  Rates are still inexpensive from a historical standpoint, but their bump-up appears to have gently pressed the brakes on house price increases.”

Nationally, home prices in all 50 states and the District of Columbia increased since the second quarter last year.  

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South Scottsdale Homes: Real Estate Market Update Week Ending 7/30/18

by Administrator 1. August 2018 02:52

 

Week Ending 7/30/18      
  85257 85251 85250
Median List Price $375,000 $479,950 $500,000
Price/Foot (Active) $240.00 $266.00 $240.00
Average Days on Market 51 102 78
% of Properties with Price Decrease 47% 42% 66%
% Relisted 4% 5% 7%
% Price Increase (Flip) 2% 8% 5%
Median House Size 1,641 2,026 2,106
Median Lot Size <4,500 8,000-10,000 <4,500
Medium Bedrooms 3 4 3
Medium Bathrooms 2 2 2
Market Action Index** 58.9 36.9 52.1
       
       
** NOTE: The Market Action Index measures the current rate of sale versus the amount of inventory. An Index above 30 implies a Seller's Market and below favors Buyers.

 

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South Scottsdale Homes: Real Estate Market Update Week Ending 7/6/18

by Administrator 10. July 2018 14:25

 

Week Ending 7/6/18      
  85257 85251 85250
Median List Price $382,500 $493,750 $475,000
Price/Foot (Active) $245.00 $269.00 $253.00
Average Days on Market 44 106 72
% of Properties with Price Decrease 27% 45% 59%
% Relisted 2% 5% 7%
% Price Increase (Flip) 7% 7% 2%
Median House Size 1,620 2,060 2,038
Median Lot Size 6,500-8,000 8,000-10,000 6,500-8,000
Medium Bedrooms 3 4 3
Medium Bathrooms 2 2 2
Market Action Index** 61 38 52
       
       
** NOTE: The Market Action Index measures the current rate of sale versus the amount of inventory. An Index above 30 implies a Seller's Market and below favors Buyers.

 

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National Association of Realtors Market Update

by Administrator 3. July 2018 10:17

 

National Association of Realtors Market Update:

Wednesday, the National Association of Realtors (NAR) reported their Pending Home Sales Index fell for the fifth straight month on an annualized basis by 0.5% in May. NAR chief economist Lawrence Yun commented “Pending home sales underperformed once again in May …coming in at the second lowest level over the past year. Realtors® in most of the country continue to describe their markets as highly competitive and fast moving, but without enough new and existing inventories for sale, activity has essentially stalled.” Yun is now forecasting sales for existing homes to decrease 0.4% to 5.49 million in 2018 (down from 5.51 million in 2017) with the national median existing-home price expected to increase around 5.0%. 

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South Scottsdale Homes: Real Estate Market Update Week Ending 6/15/18

by Administrator 26. June 2018 05:49

 

Week Ending 6/25/18      
  85257 85251 85250
Median List Price $375,000 $516,500 $482,000
Price/Foot (Active) $242.00 $278.00 $252.00
Average Days on Market 50 108 74
% of Properties with Price Decrease 47% 52% 48%
% Relisted 4% 9% 8%
% Price Increase (Flip) 5% 7% 3%
Median House Size 1,612 2,000 2,084
Median Lot Size 6,500-8,000 8,000-10,000 <4,500
Medium Bedrooms 3 4 3
Medium Bathrooms 2 2 2
Market Action Index** 59.2 37.6 49.9
       
       
** NOTE: The Market Action Index measures the current rate of sale versus the amount of inventory. An Index above 30 implies a Seller's Market and below favors Buyers.

 

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South Scottsdale Homes: Real Estate Market Update Week Ending 6/18/18

by Administrator 19. June 2018 19:42

 

Week Ending 6/18/18      
  85257 85251 85250
Median List Price $364,900 $515,000 $487,175
Price/Foot (Active) $241.00 $274.00 $246.00
Average Days on Market 53 104 73
% of Properties with Price Decrease 53% 54% 47%
% Relisted 8% 9% 10%
% Price Increase (Flip) 2% 7% 5%
Median House Size 1,605 2,000 2,134
Median Lot Size 4,500-6,500 8,000-10,000 6,500-8,000
Medium Bedrooms 3 4 3
Medium Bathrooms 2 2 2
Market Action Index** 59.1 38.7 50.6
       
       
** NOTE: The Market Action Index measures the current rate of sale versus the amount of inventory. An Index above 30 implies a Seller's Market and below favors Buyers.

 

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South Scottsdale Homes: Real Estate Market Update Week Ending 6/11/18

by Administrator 13. June 2018 13:52

Week Ending 6/11/18      
  85257 85251 85250
Median List Price $360,950 $522,000 $479,750
Price/Foot (Active) $240.00 $275.00 $248.00
Average Days on Market 55 100 70
% of Properties with Price Decrease 53% 50% 55%
% Relisted 10% 9% 9%
% Price Increase (Flip) 3% 9% 5%
Median House Size 1,596 2,012 2,108
Median Lot Size 4,500-6,500 8,000-10,000 6,500-8,000
Medium Bedrooms 3 4 3
Medium Bathrooms 2 2 2
Market Action Index** 58.4 38 49.9
       
       
** NOTE: The Market Action Index measures the current rate of sale versus the amount of inventory. An Index above 30 implies a Seller's Market and below favors Buyers.

 

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South Scottsdale Homes: Real Estate Market Update Week Ending 6/4/18

by Administrator 7. June 2018 19:45

 

Week Ending 6/4/18

       
 

85257

85251

85250

 

Median List Price

$357,000

$499,900

$491,762

 

Price/Foot (Active)

$238.00

$272.00

$244.00

 

Average Days on Market

59

101

74

 

% of Properties with Price Decrease

48%

55%

48%

 

% Relisted

10%

10%

8%

 

% Price Increase (Flip)

4%

9%

8%

 

Median House Size

1,527

1,926

2,106

 

Median Lot Size

4,500-6,500

8,000-10,000

6,500-8,000

 

Medium Bedrooms

3

3

3

 

Medium Bathrooms

2

2

2

 

Market Action Index**

58.3

37

46.3

 
         
         

** NOTE: The Market Action Index measures the current rate of sale versus the amount of inventory. An Index above 30 implies a Seller's Market and below favors Buyers.

 
 
 

 

  

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Nice South Scottsdale Home with Pool For Rent!

by Administrator 24. May 2018 13:05

 

NO DOGS. Great home in Fabulous location! Minutes to Old Town Scottsdale, Tempe, Downtown Phoenix, Sky Harbor airport, and within walking/biking distance to Papago Park and canal - perfect for the outdoor enthusiast! Nice quiet and hidden community! Newer tile throughout home (no carpet for easy maintenance and cleaning!), freshly painted, new fixtures and microwave! Vaulted ceilings in family room that is open to kitchen. Separate formal living area. Master bedroom is split from other two bedrooms. Diving Pool, monthly maintenance included! Includes washer/dryer in separate laundry room. Large Storage area in two car carport.

Beds/Baths: 3 / 2

Bedrooms Plus: 3

Approx SqFt: 1,608 

For more info: http://6437eastparkviewdrive.epropertysites.com/mlsmax/home.htm 

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About the author

Alyssa Samuelson is a licensed Arizona Realtor practicing since March, 2004. She is also the Designated Broker of Success Real Estate Group and its subsidiary, Apartment Source. Her team consists of two licensed agents, a licensed assistant and one unlicensed assistant. Together the Success Real Estate Group team has over 20 years of residential real estate experience in the Valley area. In addition to regular continuing educational classes required by the state, she has pursued a number of Realtor Designations in order to stay ahead of the market. Included among these Designations are: Certified Residential Specialist (CRS), Accredited Buyer Representative (ABR), Certified Distressed Property Expert (CDPE), Graduate Realtor Institute (GRI) and Short Sales and Foreclosures Certification (SFR). She works with buyers and sellers in both distressed and non-distressed transactions as well as specializes in assisting Sellers with short sale services. Success Real Estate Group also provides Landlord Rental Listing services.

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