After the extremes of recent years, I’m looking forward a more balanced real estate market.
Here’s what the Arizona Republic had to say about Scottsdale’s real estate future this morning.
I just did a quick check in Arizona Regional MLS, and as of this morning:
- There are 5,617 active listings in Scottsdale
- 45% of these listings are vacant
- 371 properties are under contract
- The ratio of homes under contract to those still active is approximately 1:15
When you compare these to the figures with the Maricopa County statistics that I blogged about yesterday, you will see that, by percentage, there are fewer vacant homes for sale in Scottsdale. But, the number of vacant homes is very deceptive in this market.
For instance, four of my recent listings in Sandpiper were listed as vacant. Two of the homes were second homes that are only occupied for January through March, so during December, they were shown as vacant to make it easier for agents to show. The owners of the third home left town for several weeks, and had me show the home as vacant, for the very same reason. In actuality, only the fourth home is an investment property and truly vacant.
The ratio of homes under contract to those active is just a bit lower than Maricopa County. I’m going to start watching these stats for Scottsdale more closely over the next couple months, as I think that will give us an objective view of which way the local real estate market is headed.
Internet viewings, phone inquiries, and in-person home showings for my listings have picked up, even through the recent holidays. With all the attention on the Phoenix area over the next couple of months, it will be interesting to see just how strong the market is this spring. Time will tell.
{ 1 comment… read it below or add one }
I like your site. I see your sitemap is working also. I used to live in the town of P.V. in the 90′s loved it over there. When I remember what I did to fix sitemap I will let you know.