Check out the newest graph published by the Arizona Regional MLS board. This graph makes it blatantly obvious how few homes are on the market this year compared to the last two years. During the first quarter of 2010 there were 37,530 homes for sale. During the same quarter of 2011 there were 32,657 homes on the market. Fast forward to today, and there are only 18,401 homes for sale on the mls. That is a 51% decrease in only two years and a 44% decrease in the past 12 months!
I have said it many times on this blog. There simply aren’t as many Scottsdale homes for sale as there used to be. The inventory is drying up. The best homes are being sold in the first few days on the market. Prices are slowly rising. I am not the type to push anyone into buying before they are completely ready and comfortable. But I want my clients to understand the facts of the situation. The longer you wait to buy a home in Scottsdale, the more you will pay. It is as simple as that.
Check out the sales price trends below. Prices are rising but home prices are still a fraction of what they used to be. If you are trying to time the market and want to buy a home in Phoenix or Scottsdale at the bottom, that time is now.
Carmen Brodeur JD
Trillium Properties, LLC
9825 E Bell Road, Suite 120, Scottsdale AZ 85260