Sitting here at my desk this afternoon, completing the final paper for a house that sold this week, I found myself wondering if the number of houses for sale in Scottsdale has decreased, now that we are into the spring selling season. I’ve been as busy as ever, and I know many other agents are too, so thought it was worth a quick look.
Courtesy of Altos Research, I pulled the following two charts. Looking at the whole of Scottsdale, you can see that the number of single family houses for sale (inventory) has dropped by about 25% since this time last year. However, just looking at the past six months, it appears that the number of homes available has stayed about the same.
Still a bit curious, I took a look at four Scottsdale zip codes that cover a wide range of house prices, from 85257 in South Scottsdale, to McCormick Ranch in 85258, to DC Ranch in 85255, onto the far north of zip code 85262. Median home prices in these zips, definitely increase the farther north you go.
As you can see, the higher priced areas have followed the trend of declining (25-30%), and then plateauing in the past six months. What you see in the lower price ranges, are significantly fewer homes for sale, and a steady supply over the past year.
What I think I find most amazing in the chart is how few homes are actually for sale in Scottsdale 85257. Not a lot to choose from, which has to be a positive for home sellers with equity and a well-maintained home!
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