The fourth quarter statistics from the Arizona Regional MLS system have just been released. It shows that December 2016 had the most sales of any December since 2006! This is a huge indicator that the market is heating up.
The total number of properties actively for sale on the MLS (not under contract) went down by 1,345 units over the last quarter. As of January 1st, 2017, there are 20,158 active properties for sale on the MLS.
Fourth quarter sales usually dip significantly as most home buyers are busy with the holiday season. Remarkably we had only had 1602 fewer sales in the fourth quarter. There were 25,345 sales for our fourth quarter 2016 compared to our third quarter. We currently have 3.4 months of supply. Traditionally, 3-4 months of supply indicate a balanced market.
If you would like more info on the current real estate market statistics please visit our Recent Market Trends page or email me to receive our quarterly market up email.
Call me to schedule an appointment to view homes for sale in Scottsdale. I would be happy to show you any Scottsdale properties.
Carmen Brodeur JD
Trillium Properties, LLC