Scottsdale Home Sales Report for August 2010 by Jeff Cameron

Scottsdale Home Sales for August 2010

Inventory              flat at 2584

Pending down 6%           742

closed down 11.7% to     333

there is a 7.8 month  supply of home for sale in Scottsdale

According to Karl Stauffer of Capital Asset Managment under a million has 6.25 month supply and over a million has 26.75 month supply

Something I found interesting in Scottsdale regarding the Retail home seller.  That would be someone with equity selling today. Let’s go backward, I don’t want my numbers to be confusing.

Of the Retail home sellers, first you represent 45% of the sales in Scottsdale. The interesting stat was that nearly half of those sales were vacant. Which means only 23% of the sales in Scottsdale were from owner occupied equity sellers we call Retail. This is disappointing because they make up 52% of total Scottsdale listings.

This is all about those outrageously over priced homes. If a home seller is not getting 2 or more showings per week and they are not willing to lower their price then they should consider taking their home off the market. They are doing nothing but hurting the market.