January 2014 Scottsdale Arizona real estate market update

One month down in 2014!  January was a busy month here in the valley of the sun with events such as the Barrett Jackson Auto Auction as well as the Phoenix Open.  While the Phoenix metropolitan area bustled with activity the real estate market stayed busy as well!  The median home price in Scottsdale Arizona dropped slightly in January 2014 and now sits at $370,500, a 1.2% drop.  However, this is up almost 11% from January 2013. New listings, new contracts soared this past month with 117.7% and 61.7% growth, respectively.   Closed sales settled in at 404 total sales in January, this is down a bit from December, but with the high number of new contracts we anticipate a very high Closed Sales number in February and March.  The hot seller’s market is starting to cool off and balance out the market.  Would be a great time for buyers on the fence to make a move!  We anticipate and active first quarter 2014!

 

Considering a purchasing or selling a property in Scottsdale?  Take advantage of the great market conditions and get your home listed for sale before the snow birds and students return in the fall.

 

We hope that you enjoy reading and analyzing the Scottsdale Luxury Home Report and should you have any questions or comments, please feel free to Contact Joe Szabo at 480.688.2020 or email him directly at Joe@ScottsdaleRealEstateTeam.com. You can also visit https://www.scottsdalerealestateteam.com to find out more about Scottsdale Homes for Sale and Estates for Sale in Scottsdale and to search the Scottsdale MLS for Scottsdale Home Listings.

 

Please note that this Scottsdale Real Estate Blog is for informational purposes and not intended to take the place of a licensed Scottsdale Real Estate Agent. The Szabo Group offers first class real estate services to clients in the Scottsdale Greater Phoenix Metropolitan Area in the buying and selling of Luxury homes in Arizona. Award winning Realtors and Re/MAX top producers and best real estate agent for Luxury Homes in Scottsdale, The Szabo group delivers experience, knowledge, dedication and proven results.