The following graphs show the number of new listings vs. the number of absorbed listings for Cave Creek, Chandler, Fountain Hills, Gilbert, Mesa, Paradise Valley, Phoenix, Queen Creek, Scottsdale, and Surprise.  Results vary in these communities, but all are showing that absorbed listings are about equal to or exceeding new listings coming on the market. Some are showing more positive trends, and it’s very interesting to see the differences between these valleywide Phoenix cities and towns.

And it did look like pretty significant, in that particular chart. 

I decided to take a look at several of the cities that comprise the Phoenix Metropolitan area, to see how Scottsdale stacked up.  Somewhat, arbitrarily, I chose the cities of Phoenix, Scottsdale, Cave Creek, and Queen Creek. As you can see, Phoenix and Queen Creek, median home listing prices have dropped much more significantly over the past year, especially when viewed in terms of percentages.  Scottsdale and Cave Creek home median listing prices have decreased approximately 2%, while Phoenix and Queen Creek are closer to 25%. 

While it may have appeared in my prior post that Scottsdale home listing values were dropping fast, when put in perspective, Scottsdale has been weathering this storm pretty well.

Please note: Altos Research Corp. reports real-time analysis of the residential real estate market using information based on properties currently listed for sale and available publicly through services like the local multiple listing service. The data presented in this report is accurate to the best of our knowledge, but cannot be guaranteed as such.