The number of active listings (housing inventory) continues to drop significantly in Scottsdale.
On April 27, 2011, the number of active listings in Scottsdale was 2,623 and thirty days later, the number had dropped to 2,409. This equates to a reduction on 8.7% in that time period. Taking a longer term look, Scottsdale inventory for single family homes has dropped 22% in the last year.
And while home prices are not on the rise yet, there are some subtle indications that the Scottsdale housing market has stabilized, where the recent monthly average matches the annual average.
Buyer activity in Scottsdale remains high, even as we go into the heat of the summer months. I have record number of clients flying in to town to purchase and I’m hearing the same from my fellow real estate agents. We don’t have stats to document buyer interest, yet this is truly the first step in the home buying process. Lookers turned into buyers pretty quickly in a active market like we are experiencing now.
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