Watch our Scottsdale real estate market update video for August 2014. In general, demand continues to be lower than last year (as measured by number of closed sales), but the good news is that the supply of homes for sale has fallen since last month, continuing a trend that started in May.
Active listings were up 15% year over year (1,883 active listings in August 2014 compared to 1,638 active listings in August 2013.) Active listings were down 7% from the previous month (falling from 2,023 to 1,883 active listings.)
The median list price of all actively listed homes for sale on the market in Scottsdale was $679,000 last month, up from $675,000 in August 2013. The median sales price was $453,000 last month, down from $475,000 in August 2013.
The number of days on the market was up 15% compared to last year. Days on market increased from 82 days in August 2013 to 94 days last month.
The number of homes sold fell 8% year over year (from 396 units sold in August 2013 to 364 units sold in August 2014.) The number of homes sold fell 9% month over month with 401 homes selling in July 2014.
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