Real estate Market Activity in Scottsdale and Phoenix FOR MARCH/APRIL 2021- SCOTTSDALE IS UP 17.3% !!!
Here are the basics - the ARMLS (Realtor Data and Statistics site) numbers for March, 2021 compared with March, 2020 for all areas & types: Please call me.. Love to talk to you for any specific updates or to inquire about any community or home of interest.
BELOW IS THE CHART FOR RECORD SETTING Per Square Foot Sale Price Numbers.
- Pending Listings: - Call for up to minute
- Active listings- Under 3,500- March 2021 Lowest in history (per capita) Within Phoenix Metro in all prices -in a land area of over 515 Square Miles To put this in perspective -There is less than one home available for every 5000 people.
There are 5,556 broker's offices in the ARMLS database.So we have reached a rather interesting milestone - there is on average, less than 1 active listing per Real Estate office.For every active listing there are 8 ARMLS (Realtors) members. Presumably 1 of them has the listing and 7 of them are writing offers on it.
- Under Contract Listings (including Pending, CCBS & UCB): Call for up to minute
- Monthly Sales: Call for up to minute
- Highest Gainer this Month - Waddell Arizona up 20% over last year
- Monthly Median Sales Price: Call for up to minute
Is there any sign of the upward surge in pricing losing pace. Not at this time.
MORE March/April REAL ESTATE DATA .
Below are charts showing real estate market activity in the Phoenix area with an emphasis on Scottsdale and Paradise Valley from MARCH. The chart is based on statistical data from sold home prices and denotes the "per square foot "sold" home price increases and decreases between now and the corresponding period in 2020. As noted above, in last 60 days, real estate prices continue to jump with high demand, extremely low inventory. There is no slow down in sight. In Paradise Valley for example, I am seeing homes (multiple homes) that sold 9 months ago for, or in the 2.3 million range being re-listed this month for over 3 million. Buyers beware!! And the scary part is, most of the Real Estate agents out there will NOT be guiding buyers with the extreme expertise and integrity required in this market. Looking for drivers for this market high demand from families needing homes (not investors ) and interest rates my clients are getting are 1.75% for jumbo loans!
To buyers comparing this to the 2008 crash, there are two very different drivers pushing the market. Whereas in 2004 through 2006 there were a significant number of investors buying homes 2, 3 and 4 homes almost like a pyramid scheme. now the market is being driven by solid demand from real buyers in the Phoenix area and a huge influx of buyers recognizing the amazing lifestyle the Scottsdale - Phoenix area represents.
The reports /charts below are always based on sold closings, so inherently about 45 days behind the actual market. I can share from showing and selling homes seven days a week ( In Paradise Valley and Scottsdale) there are often bidding wars for nearly every home that is presented well, has a good floor plan and is priced reasonably within market conditions.
REPORT UPDATED FOR YOU EVERY MONTH - APRIL NUMBERS OUT BY APRIL 28th.
Please call me for a more detailed analysis. My pleasure to review them with you.
The next Home Sales report in mid/late March. Please call anytime if you are looking for excellent representation buying or selling a home. Always done with integrity.
Below Chart on home supply update -On average there is a less than a 3 week supply overall-
Again please enjoy the graphs and market report and please call me for additional information. Noting again.
Call Michael Chaisson Realtor RL Sotheby's International Realty Specializing in luxury homes in Scottsdale, Paradise Valley and the greater Phoenix area. 480-450-4632
Entire report updated every 35 days.