Scottsdale and McDowell Mountain Ranch Home Sales Report for March 2011 by Realtor Jeff Cameron Real Estate Market Update
Hi this is Jeff Cameron with Keller Williams here in Scottsdale Arizona. Welcome to your place on line to get the real estate facts. Today we are reviewing the single family home sales for March 2011 in Scottsdale and McDowell Mountain Ranch.
Before we get to the numbers, I hope you saw my video for the metro area. We had an awesome March, check it out. There should be a link below. Now, let’s get to the numbers!
Available single family homes in Scottsdale are 2,325, down 6.6% from last month.
Under Contract in Scottsdale are 1,012 up 15.6% from last month.
Closed home sales in Scottsdale for February is 430 up 13.5% from last month.
Average price per square foot was up 4.3% to $158.49.
The months of supply dropped from 6.6 months in February to 5.4 months now, due to increased sales and decreased inventory.
I am seeing hot spots of recovery in different markets of Scottsdale and then others still dragging lower. We listed a home in Whisper Rock last month, got multiple offers and I would have sold it myself for over list price; but the bank went for the cash offer. Yes, I was happy but disappointed.
I have another buyer looking for the 375k mark in McDowell Mountain Ranch area. They want around 3,000 square feet. The last 3 homes that fit what they are looking for sold this week. One had 3 offers!
Speaking of McDowell Mountain Ranch, what are the home sales doing there? Let’s look at the numbers.
Available Single Family Homes in McDowell Mountain Ranch 84
Homes with an accepted offer 57
Closed homes last month 14 and the average price per square foot is $161.
The luxury market continues to offer too much supply, but homes priced with the market are selling immediately. This demonstrates there are buyers. They just don’t want to over pay.
Short sales continue to drive the market lower. However, we are getting offers on our short sales. Short sales are the answer. With lower inventory and quicker response times buyers are requiring less of an incentive for a short sale. For example, my buyers would probably pay the same for a short sale as a home they could close on in 30 days, because they have no other choice and want to buy a home. This was not the case last year, and this is the answer to stop declining prices.
This is Jeff Cameron your McDowell Mountain Ranch and Scottsdale resident and real estate specialist. Have questions about the market, Call Me!
Need help selling your home or facing financial difficulties, I can help. Call Me today! 480-502-7699
Are you a buyer looking to purchase a Short Sale Home at a Great Price? If so, you want to be aware of the fact that some listing agents continue to search out other buyers, keep the home on the market for sale, have other offers and when they get a response from the bank they go back to ALL the buyers looking for highest and best. When you buy a Short Sale, you want an agent that knows the ins and outs. What to look for to secure as the only buyer for that home, The Cameron Team and our buyer specialists are experts in Short Sales and Bank Owned Foreclosure homes. We know the tricks and are your best choice. Call 480-502-7699 or email Jeff@TheCameronTeam.com
Are you a Seller Looking to sell your home in a Short Sale? Before you act, know your options. We have videos that walk you through the process in the privacy of your own home at what every time you wish to watch as many times as possible!
the links below will take you there:
Before Foreclosure and Short Sale: What are my Options?
Before Foreclosure and Short Sale: Save my Home!
Before Foreclosure and Short Sale:
Before Foreclosure and Short Sale: Save my Credit Through Short Sale
Before Foreclosure and Short Sale: Last Step – How to Clean up My Credit!
Or for a Free 1 hour consultation and a referral to an Attorney for consultation call me at 480-502-7699 or click here to contact me!
Scottsdale and McDowell Mountain Ranch Home Sales Report for March 2011 by Realtor Jeff Cameron Real Estate Market Update
480-652-2004