The Scottsdale real estate market is definitely improving. While prices are still recovering, the number of sales per year is definitely back to the level of the pre-boom days.
The dots in this chart above reflect the number of Scottsdale home sales in the previous 12 months. From cumulative sales of 5,086 in January 2001, to a peak of 6,915 in March 2005, and then a valley of 2,938 that extended from February 2008 to April 2009, the total number surpassed the 5,000 mark in November 2011.
Taking a closer look, you’ll see that the Scottsdale real estate market has a seasonal fluctuation that peaks in the spring selling season. Here you can see that from 2001 through 2011, the peak selling months in Scottsdale initially averaged about 600 home sales, peaking in 2003 at about 750, plummeting to a peak of just over 300 in 2007, finally approaching “normal” as of 2011.
2012 just may be the year that 600+ homes are sold in the peak month.
With the huge amount of business that seems to be flowing to me and the other agents that I work with in Scottsdale and the surrounding cities, it seems that this spring is could be a significant turning point in our market.
Sellers need to keep this perspective in mind as they list their homes to sell in over the next couple of months. Spring is Scottsdale’s biggest selling season and buyers are definitely keeping on top of the market. Writing offers that hold tight to what their perception of the local real estate market is today.