Phoenix/Scottsdale Real Estate Market August Update – July 2018 Stats

Here is the Phoenix/Scottsdale area Monthly Real Estate Market Report for August 2018, which shows 8,531 homes sold in the month of July compared to 8,008 homes in July 2017. This is a 6.2% increase for the number homes sold year over year, which is still being driven by the lowest inventory of listed homes in the last 5 years. And the market remains strong with the average sale price is up 8.3% year over year, while the amount of listed homes is down by 9.0% to 15,921 from 17,490 in July 2017. Demand continues to remain strong into Summer even with activity constrained by the lower supply of listed homes. The average days on market is down 15.4% from July 2017 to just 55 days!

Click here to see the full July 2018 Market Report & Statistics

Give us a call or text us at 480-754-9477 or 480-754-9077 if you’re thinking about buying or selling a home this Summer, as the strong market continues to be good for both buyers and sellers, or if you have questions about this information. And don’t forget to explore our website to see Scottsdale area homes and helpful articles. – Chris & Cheryl Park

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