2009 – 2011 Scottsdale Market Overview

by Curt_Baumgarth on March 12, 2011

in City Of Scottsdale

The number of homes for sale in Scottsdale is steadily declining. There was nearly 3,300 homes for sale this time last year down from 4,093 homes in 2009. Today, in Scottsdale there are about 2,800 active listings. This decline in supply correlates to a steady decline in depreciation levels. Home values in Scottsdale depreciated slightly last year, but compared to the 25% depreciation in median home prices in 2009 things are looking up for Scottsdale. Are we currently still in a declining market? Yes, I believe we are. At least the numbers say we are, however we are almost at a normal supply of listings on the market today. There is a 7.1 month supply of homes for sale in Scottsdale. Considering the 20 month supply 2 years ago this is terrific for Sellers. If you are considering selling your Scottsdale property you should note that the market is still a buyers market, but not to the extent that it was 2 years ago. You may have more ground to stand on with your negotiations than you think. Buyers are growing sick of looking at bank owned homes and dealing with long wait “short sales” so now may be the perfect time for you to list your home. You would be one of very few traditional sales. If you have some equity in your home that is. Contact me today to find out what your Scottsdale home is worth to Buyers.

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Curt Baumgarth, Realtor, MBA
Century 21 All Star, Realtors
9414 E San Salvador Dr
Scottsdale, AZ 85258
(480) 266-9796

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