The recent collapse of Silicon Valley Bank and Signature Bank has complicated the Federal Reserve’s decision to announce a 0.25% increase in the target federal funds rate. These two failed banks have made the decision to hike interest rates more complex. Silicon Valley Bank was forced to sell a bond portfolio at a loss due […]
The market continues to improve for sellers. Sold properties are up 34% over January 2023; this increase is much more positive than the industry expected in the fourth quarter of 2022. The contract ratio for all areas & types has risen above 60% as of March 1st, showing signs of a market heating up again. […]
Demand weakened, as it always does during the holiday season, which is why our supply took a 24% jump this month. However weak demand does not necessarily make a market crash. Excess supply is what really drives prices down hard, and we’re simply not seeing that. The downward pricing trend is actually weakening. Asking prices […]
According to Flex-MLS, the Marketplace for Scottsdale Residential Properties, in Quarter 4, 2022 versus Quarter 4, 2021: The Number of SOLD listings decreased by 32% to 4,417 units, with a top sale of $28,100,000 at 21264 N 113th Place, Scottsdale. The Average Sales Price increased by 17% to $1,393,700, moving the Average Price Per Sq Foot […]
If you’re thinking about buying or selling residential real estate it’s important to understand the current market trends. According to Flex-MLS, the Marketplace for Scottsdale Residential Properties, in November 2022 versus October 2022: The Number of SOLD listings decreased by 11% to 248 units with a top sale of $11,200,000 at 9820 E Thompson Peak Parkway […]
Scottsdale | October 2022 vs October 2021 Average Sales Price: September 2022 > $1,200,011 vs October 2022 > $1,318,068 = 10% increase Average Days On Market: September 2022 > 51 vs October 2022 > 60 = 18% increase Average Sale Price Per Square Foot: September 2022 > $435.24 vs October 2022 > $440.04 = 1% increase […]
Scottsdale Average Sales Price: Q3 2021 > $1,127,455 vs Q3 2022 > $1,336,834 = 19% increase Average Days On Market: Q3 2021 > 37 vs Q3 2022 > 47 = 27% increase Average Sale Price Per Square Foot: Q3 2021 > $378.24 vs Q3 2022 > $447.98 = 18% increase Sale to List Price Ratio: […]
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