Sept. 17, 2021
Real estate Market Activity in Scottsdale and Phoenix SEPT 2021- PARADISE VALLEY AZ IS UP 21% and SCOTTSDALE IS UP 27% !!!
Here are the basics - the ARMLS (Realtor Data and Statistics site) numbers for SEPTEMBER 2021 compared with SEPTEMBER, 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 3800 - (HOMES OVER 1,500SF) SEPTEMBER 2021 Within Phoenix Metro in all prices -in a land area of over 515 Square Miles
- Under Contract Listings (including Pending, CCBS & UCB): Call for up to minute
- Monthly Sales: Call for up to minute - However inventory on 400,000 to 800,000 creeping up with inventory for homes at 1.5 and above
continuing to be low.
- Highest Gainer this Month - Tonopah Arizona up 27.8% 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 September REAL ESTATE DATA .
Below are charts showing real estate market activity in the Phoenix area with an emphasis on Scottsdale and Paradise Valley from Sept 2021. 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 that have very little merit selling for over 2 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! Noting : Buyers sitting on the fence now.. are doing so for the most part due to lack of quality inventory.
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 - September NUMBERS OUT BY September 22nd.
Please call me for a more detailed analysis. My pleasure to review them with you.
The next Home Sales report in mid/late September. 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 5 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.