scottsdale, az market trends and updates 1-16-2012

MARKET UPDATESolutions Real Estate

· Current Real Estate Market Conditions for Single Family Homes· Trends in Pricing· Current Levels of Supply and Demand· Value Metrics

· Report for the week ofJanuary 16, 2012

· Presented by David DionSolutions Real Estatewww.SolutionsRealEstate.com - [email protected]

SCOTTSDALE, AZ

Powered by Altos Research LLC | www.altosresearch.com | Copyright ©2005-2010 Altos Research LLC

Median List Price

Median Lot Size

19.2

Percent Relisted (reset DOM)

3188

3.0

10 %

Median Number of Bathrooms

249

Inventory of Properties Listed

$ 201

Percent Flip (price increased)

2.5 - 5.0 acres

Median House Size (sq ft)

$ 625,000

39 %

4.0

Market Action Index

Median Number of Bedrooms

Asking Price Per Square Foot

n/a

Percent of Properties with Price Decrease

Strong Buyer's

≠

=

=

=

≠

Altos Research Value Statistics

Most Expensive Listing

Average Days on Market (DoM)

Bottom/Fourth

Lower/Third

Upper/Second

Top/First

This Week Real-Time Market Profile Trend

The Market Action Index answers the question "How's the Market?" by measuringthe current rate of sale versus the amount of the inventory. Index above 30implies a seller's advantage. Below 30, conditions give the advantage to thebuyer.

Supply and Demand

Characteristics per Quartile

9 75500

1713.0 16

3.0

52

320

4.0 509

122

30

39

2.5 - 5.0acres

32

$ 475,000

61

20

509

5.0

20+ acres

173.0

1938 2.5 - 5.0acres

509

$ 259,900

4.0

383

2.5 - 5.0acres$ 799,900

4.0$ 1,900,000

15

52

3676

Inventory has been decreasing latelybut the Market Action Index is fallingalso. With days-on-market climbing,these are relatively negativeimplications for the market.

Monday January 16, 2012

David Dion | Solutions Real Estate | 480-332-5942 | www.

508

2724

2.0

The median list price in SCOTTSDALE,AZ this week is $625,000. The 2035properties have been on the marketfor an average of 249 days.

Most expensive 25% of properties

Upper-middle 25% of properties

Lower-middle 25% of properties

Least expensive 25% of properties

Quartile Median Price Lot Size Beds Baths Age Inventory New Absorbed DOMSq. Ft.

No change

Strong upward trend Strong downward trend

Slight upward trend Slight downward trend±+

== ≠≠

≠=

SCOTTSDALE, AZCity Overview

Least Expensive Listing

Average List Price

Average Age of Listing

2035

$ 24,500,000

$ 45,900

$ 1,009,530

19

Trend Key:

The market has shown someevidence of slowing recently. Bothprices and inventory levels arerelatively unchanged in recentweeks. Watch the Market ActionIndex for changes as it can be aleading indicator for price changes.

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Single Family Homes in


City OverviewSCOTTSDALE, AZ


Median PriceThis week saw relatively little price change from last week. However the market appears to be trying to establish an uptrend.The Market Action Index is a good leading indicator for the durability of this trend.

90-day Average7-day Average

Quartile PricesPrices have settled at a price plateau across the board. Prices in all four quartiles are basically mixed. Look for a persistent shift(up or down) in the Market Action Index before prices move from these current levels.

First/Top Second/Upper Third/Lower Fourth/Bottom

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Price per Square FootThe price per square foot is increasing a bit recently and overall price trends haven't shown a consistent upwardly push. This canimply that investment conditions are opportunistic. Watch the Remodel Index for a more detailed analysis of the investmentopportunity in the area.


Inventory of Properties Listed for SaleInventory has been falling in recent weeks. Note that declining inventory alone does not signal a strengthening market. Look tothe Market Action Index and Days on Market trends to gauge whether buyer interest is changing with the available supply.


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Market Action IndexThe SCOTTSDALE market is currently quite strongly in the Buyer's Advantage zone (below 30). The 90-day Market Action Indexstands at 19.17. With several months of inventory available at the current sales rate, buyers should find ample choice.

Buyers/Sellers Cutoff90-day Average

Market Action Index per QuartileNot surprisingly given the overall Market Action Index, all quartiles are in the Buyer's Market zone with several months ofinventory given the current rate of demand for homes in the quartile. Watch the quartile for changes before the overall marketshifts. Often one end of the market (e.g. the low end) will improve and signal a strengthening market before the whole groupchanges.


Buyers/Sellers Cutoff

Residential house prices are a function of supply and demand, and market conditions can be characterizedby analyzing those factors. Watch this index for sustained changes: if the index falls into the Buyer’sAdvantage zone (below 30) for a long period, prices are likely in for a downward correction.

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Days on MarketThe properties have been on the market for an average of 249 days. Half of the listings have come newly on the market in thepast 113 or so days.


Days on Market per QuartileIt is not uncommon for the higher priced homes in an area to take longer to sell than those in the lower quartiles.


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Median List Price

Median Lot Size

22.2


2328

2.0

7 %


136


$ 137


5.0 - 10 acres


$ 332,000

42 %

4.0

Market Action Index



n/a


Strong Buyer's

≠

=

±+

=

±+




Bottom/Fourth

Lower/Third

Upper/Second

Top/First



Supply and Demand


24 23201

942.0 29

3.0

10

138

4.0 51

110

6

6

10 - 20 acres

33

$ 289,900

2

5

51

3.0

2.5 - 5.0acres

42.0

1817 not available

51

$ 212,000

4.0

201

not available$ 375,000

4.0$ 499,500

26

8

2364

Inventory has been tightening anddays-on-market increasing recently.The Market Action Index has beenbasically flat, not providing strongindication for market conditions.



51

2257

2.0

The median list price in SCOTTSDALE,AZ 85254 this week is $332,000. The204 properties have been on themarket for an average of 136 days.






No change



== ≠≠

≠=

SCOTTSDALE, AZ85254

Neighborhood Detail


Average List Price


204

$ 1,790,000

$ 130,000

$ 375,890

28

Trend Key:


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Neighborhood DetailSCOTTSDALE, AZ

85254


Median PricePrices is this zip code this week saw relatively little change from last week. However the market appears to be trying toestablish an uptrend. Keep an eye on the Market Action Index to determine if demand will help push prices higher.


Quartile PricesIn the quartile market segments, we see prices in this zip code have settled at a price plateau across the board. Prices in allfour quartiles are basically mixed. Look for a persistent shift (up or down) in the Market Action Index before prices move fromthese current levels.


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85254


Price per Square FootIn a market where prices are rising mildly, price per square foot is essentially flat. This often implies that new homes coming onthe market are pricier, and also larger than older homes. As a result the value one can buy stays the same.




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85254


Market Action IndexThe SCOTTSDALE, 85254 market is currently quite strongly in the Buyer's Advantage zone (below 30). The 90-day Market ActionIndex stands at 22.21. With several months of inventory available at the current sales rate, buyers should find ample choice.


Market Action Index per QuartileNot surprisingly, all quartiles are in the Buyer's Market zone with several months of inventory given the current levels ofdemand. Watch the quartiles for changes before the overall market shifts.




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85254






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Median List Price

Median Lot Size

16.8


3425

3.0

12 %


281


$ 218


5.0 - 10 acres


$ 681,750

35 %

3.0

Market Action Index



n/a


Strong Buyer's

=

=

±+

≠

=




Bottom/Fourth

Lower/Third

Upper/Second

Top/First



Supply and Demand


7 05010

2223.0 15

3.0

4

401

3.0 45

153

1

3

not available

16

$ 555,000

2

0

45

5.0

not available

33.5

2234 not available

44

$ 398,900

4.0

351

5.0 - 10acres$ 819,950

4.0$ 1,772,500

12

6

3875

Demand measured by the MarketAction Index is increasing and days-on-market is trending downward.Even as more properties comeavailable, these are positive trendsfor the market.



44

2824

2.0







No change



== ≠≠

≠=

SCOTTSDALE, AZ85266

Neighborhood Detail


Average List Price


178

$ 5,295,000

$ 169,000

$ 943,891

13

Trend Key:


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85266


Median PriceDespite this week's down tic, price trends in this zip code have been moving up in the last few weeks. We are below themarket's high point, and we'll investigate the Market Action Index later on to see if we expect this week's blip to become adownward trend.




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85266




Inventory of Properties Listed for SaleInventory has been climbing lately. Note that rising inventory alone does not signal a weakening market. Look to the MarketAction Index and Days on Market trends to gauge whether buyer interest is keeping up with available supply.


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85266








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85266






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Median List Price

Median Lot Size

16.0


3910

3.0

19 %


362


$ 246


1.0 - 2.5 acres


$ 897,000

43 %

4.0

Market Action Index



n/a


Strong Buyer's

≠

=

=

=

≠




Bottom/Fourth

Lower/Third

Upper/Second

Top/First



Supply and Demand


6 06186

2753.0 14

3.0

3

469

3.0 121

200

5

9

10 - 20 acres

14

$ 725,000

16

5

122

6.0

2.5 - 5.0acres

34.0

2540 not available

121

$ 430,100

4.0

504

1.0 - 2.5acres$ 1,249,988

5.0$ 2,695,000

11

12

4448

Inventory has been decreasing latelybut the Market Action Index is fallingalso. With days-on-market climbing,these are relatively negativeimplications for the market.



121

3375

2.0







No change



== ≠≠

≠=

SCOTTSDALE, AZ85255

Neighborhood Detail


Average List Price


485

$ 24,500,000

$ 176,400

$ 1,473,833

13

Trend Key:


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85255






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85255


Price per Square FootThe price per square foot is increasing a bit recently and overall price trends haven't shown a consistent upwardly push. This canimply that investment conditions are opportunistic. Watch the Remodel Index for a more detailed analysis of the investmentopportunity in the area.




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85255








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85255






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Median List Price

Median Lot Size

16.6


4012

4.0

3 %


293


$ 279


5.0 - 10 acres


$ 1,092,500

28 %

4.0

Market Action Index



n/a


Strong Buyer's

±+

=

±+

≠

≠




Bottom/Fourth

Lower/Third

Upper/Second

Top/First



Supply and Demand


9 16116

3023.0 12

3.0

3

307

3.0 102

182

5

2

not available

12

$ 825,000

15

5

102

5.5

5.0 - 10acres

24.0

2826 10 - 20 acres

102

$ 479,450

4.0

382

5.0 - 10acres$ 1,362,500

4.0$ 2,750,000

11

4

4526

The Market Action Index has beentrending down recently, but as days-on-market decreases also, there arenot strong signals for the direction ofthe market.



102

3555

3.0

The median list price in SCOTTSDALE,AZ 85262 this week is $1,092,500. The408 properties have been on themarket for an average of 293 days.






No change



== ≠≠

≠=

SCOTTSDALE, AZ85262

Neighborhood Detail


Average List Price


408

$ 11,700,000

$ 240,000

$ 1,533,806

11

Trend Key:


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85262






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85262




Inventory of Properties Listed for SaleInventory has been relatively steady around these levels in recent weeks.


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85262








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85262






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Median List Price

Median Lot Size

23.3


1880

2.0

16 %


134


$ 118


1.0 - 2.5 acres


$ 219,000

52 %

3.0

Market Action Index



n/a


Buyer's Advantage

≠

±+

≠

=

=




Bottom/Fourth

Lower/Third

Upper/Second

Top/First



Supply and Demand


26 13980

1392.0 52

2.5

2

122

3.0 17

107

1

5

1.0 - 2.5acres

52

$ 175,000

2

0

18

4.0

not available

32.0

1346 not available

17

$ 109,950

3.0

169


4.0$ 1,150,000

50

4

2018

Inventory has been lightening latelyand the Market Action Index has beentrending up. Though days-on-marketis increasing, these are mildly positiveindications for the market.



17

1786

2.0







No change



== ≠≠

≠=

SCOTTSDALE, AZ85251

Neighborhood Detail


Average List Price


69

$ 2,695,000

$ 57,900

$ 486,644

41

Trend Key:


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85251


Median PriceWe continue to see prices in this zip code hovering around these current levels, even though they bumped up a bit this week.Look for a persistent up-shift in the Market Action Index before we see prices move significantly from here.




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85251


Price per Square FootWhile prices have been basically flat, the price per square foot has been heading downward. While not a sign of broad strengthin a market, larger homes are coming more available and buyers can see more home for their money.




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85251


Market Action IndexThe SCOTTSDALE, 85251 market is currently in the Buyer's Advantgae zone (below 30), though not strongly so. The 90-dayMarket Action Index stands this week at 23.26 so buyers should expect to find reasonable levels of selection.






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85251






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Median List Price

Median Lot Size

21.8


2658

3.0

6 %


148


$ 161


not available


$ 405,000

36 %

4.0

Market Action Index



n/a


Strong Buyer's

≠

≠

≠

±+

±+




Bottom/Fourth

Lower/Third

Upper/Second

Top/First



Supply and Demand


18 14280

1112.0 21

3.0

7

124

4.0 40

151

4

2

not available

22

$ 354,850

7

3

40

4.0

not available

43.0

1955 not available

40

$ 250,000

4.0

206


5.0$ 870,250

26

3

3116

Inventory has been tightening butdays-on-market and the Market ActionIndex have been basically unchanged,not providing strong indication formarket conditions.



40

2190

2.0







No change



== ≠≠

≠=

SCOTTSDALE, AZ85260

Neighborhood Detail


Average List Price


160

$ 2,800,000

$ 159,000

$ 557,101

23

Trend Key:


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85260


Median PriceAgain this week we see a downward notch for prices in this zip code. Pricing has been weak recently and versus their absolute-high level. At this point, we will be looking for a persistent upward shift in the Market Action Index as a leading indicator for atrough in prices.




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85260


Price per Square FootThe market's light downward trends are shared across both price and value. People are recently placing less value on homes(you can see the recent declines in price per square foot as evidence.) Look for significant changes in the Market Action Index asa precursor to price and value changes, possibly as inflection points for good investment opportunities.




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85260








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85260






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Median List Price

Median Lot Size

15.7


2452

2.0

12 %


226


$ 191


1.0 - 2.5 acres


$ 467,000

47 %

3.0

Market Action Index



n/a


Strong Buyer's

≠

±+

=

=

=




Bottom/Fourth

Lower/Third

Upper/Second

Top/First



Supply and Demand


20 13541

1242.0 32

3.0

6

320

3.0 51

100

4

6

1.0 - 2.5acres

32

$ 399,000

4

3

51

3.0

not available

13.0

1920 not available

50

$ 299,900

3.5

365


4.0$ 867,450

27

4

2720




50

2212

2.0







No change



== ≠≠

≠=

SCOTTSDALE, AZ85258

Neighborhood Detail


Average List Price


202

$ 3,149,000

$ 169,000

$ 591,140

27

Trend Key:


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85258


Median PriceWe continue to see prices in this zip code hovering around these current levels, even though they bumped up a bit this week.Look for a persistent up-shift in the Market Action Index before we see prices move significantly from here.




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85258


Price per Square FootThe value placed on homes seems to be trending up, despite the fact that prices in general have remained basically flat. Theseconditions can arise when inventory is light and a greater number of smaller homes have more influence on overall prices.




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85258








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85258






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Median List Price

Median Lot Size

19.4


4024

4.0

2 %


200


$ 194


1.0 - 2.5 acres


$ 730,000

39 %

4.0

Market Action Index



n/a


Strong Buyer's

≠

±+

=

≠

≠




Bottom/Fourth

Lower/Third

Upper/Second

Top/First



Supply and Demand


8 26146

1733.0 16

3.0

1

259

4.0 45

116

3

2

20+ acres

18

$ 625,000

5

3

45

6.2

0.50 - 1.0acre

14.5

2363 not available

45

$ 399,900

5.0

254


5.0$ 1,849,500

15

1

4329

Inventory is tightening and days-on-market is falling. But demand asmeasured by the Market Action Indexis also trending down. The market isnot giving strong up or down signalsfrom these data.



44

3587

2.0







No change



== ≠≠

≠=

SCOTTSDALE, AZ85259

Neighborhood Detail


Average List Price


179

$ 7,995,000

$ 165,000

$ 1,028,356

15

Trend Key:


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85259


Median PriceRecently prices in this zip have settled at a plateau even though they dipped this week. Look for a persistent up-shift in theMarket Action Index before we see prices significantly move from these levels.




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85259


Price per Square FootThe value placed on homes seems to be trending up, despite the fact that prices in general have remained basically flat. Theseconditions can arise when inventory is light and a greater number of smaller homes have more influence on overall prices.




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85259








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85259






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Median List Price

Median Lot Size

21.5


2242

2.0

10 %


164


$ 137


not available


$ 289,500

38 %

3.0

Market Action Index



n/a


Strong Buyer's

≠

=

±+

=

=




Bottom/Fourth

Lower/Third

Upper/Second

Top/First



Supply and Demand


19 13353

1172.0 38

3.0

2

222

3.0 17

92

2

1

not available

42

$ 250,000

4

3

17

4.0

not available

02.0

1595 not available

17

$ 184,900

3.0

225


3.0$ 699,000

32

1

2242




17

2105

2.0







No change



== ≠≠

≠=

SCOTTSDALE, AZ85250

Neighborhood Detail


Average List Price


68

$ 1,800,000

$ 139,000

$ 399,918

33

Trend Key:


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85250






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85250








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85250






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Median List Price

Median Lot Size

23.8


1572

2.0

5 %


98


$ 102


not available


$ 166,750

44 %

3.0

Market Action Index



n/a


Buyer's Advantage

≠

=

±+

≠

≠




Bottom/Fourth

Lower/Third

Upper/Second

Top/First



Supply and Demand


51 02132

1362.0 52

3.0

2

93

3.0 21

77

4

3

not available

51

$ 154,900

1

3

21

2.0

not available

22.0

1319 not available

20

$ 100,177

3.0

84


3.0$ 344,950

53

1

1654

Inventory is tightening and days-on-market is falling. But demand asmeasured by the Market Action Indexis also trending down. The market isnot giving strong up or down signalsfrom these data.



20

1552

2.0







No change



== ≠≠

≠=

SCOTTSDALE, AZ85257

Neighborhood Detail


Average List Price


82

$ 565,000

$ 45,900

$ 191,499

48

Trend Key:


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85257


Median PriceThe market for this zip code continues its bounce again this week. We're a long way from the market's high point so watch theMarket Action Index to predict how long this trend will last.




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85257






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85257


Market Action IndexThe SCOTTSDALE, 85257 market is currently in the Buyer's Advantgae zone (below 30), though not strongly so. The 90-dayMarket Action Index stands this week at 23.77 so buyers should expect to find reasonable levels of selection.






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85257






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scottsdale, az market trends and updates 1-16-2012

Documents

market climbing

market actionindex

price changes

price plateau

inventory levels

median pricethis week

price decreasestrong

little price change