scottsdale az market updates october 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 ofOctober 15, 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

21.0

Percent Relisted (reset DOM)

3126

3.0

5 %

Median Number of Bathrooms

164

Inventory of Properties Listed

$ 209

Percent Flip (price increased)

10 - 20 acres

Median House Size (sq ft)

$ 645,000

29 %

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

==

==

==

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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 185417

1233.0 18

3.0

56

176

3.0 430

90

33

35

1.0 - 2.5acres

30

$ 499,000

58

25

430

5.0

10 - 20 acres

223.0

1814 10 - 20 acres

430

$ 298,000

4.0

267

10 - 20 acres$ 822,000

4.0$ 1,800,000

15

60

3673

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.

Monday October 15, 2012

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

429

2679

2.0

The median list price in SCOTTSDALE,AZ this week is $645,000. The 1719properties have been on the marketfor an average of 164 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±+

== ≠≠

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SCOTTSDALE, AZCity Overview

Least Expensive Listing

Average List Price

Average Age of Listing

1719

$ 24,500,000

$ 48,900

$ 1,047,932

20

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

Katy Katz, Associate Broker | www.KatyKatz.com | 602-618-0917 Katy Katz, Associate Broker for Solutions Real Estate | www.KatyKatz.com | 602-618-0917


City OverviewSCOTTSDALE, AZ


Median PriceThis week saw relatively little price change from last week. However, prices continue demonstrate a nice up trend in generalover the last several weeks.

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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Katy Katz, Associate Broker for Solutions Real Estate | www.KatyKatz.com | 602-618-0917




Price per Square FootThe market appears to be placing an increasing premium on homes. When list prices and price per square foot consistentlyincrease in tandem, as they're doing now, you can often find short-term investment opportunities. Watch the Market ActionIndex for persistent changes as a leading indicator for these trends to flatten or drop.


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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Market Action IndexThe SCOTTSDALE market is currently quite strongly in the Buyer's Advantage zone (below 30). The 90-day Market Action Indexstands at 20.95. 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 164 days. Half of the listings have come newly on the market in thepast 92 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

21.9


2476

2.0

6 %


103


$ 154


10 - 20 acres


$ 370,900

35 %

4.0

Market Action Index



n/a


Strong Buyer's

==

==

±+

≠≠

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Bottom/Fourth

Lower/Third

Upper/Second

Top/First



Supply and Demand


34 03400

682.0 29

3.0

8

144

4.0 48

83

8

6

10 - 20 acres

31

$ 332,400

7

7

49

3.0

10 - 20 acres

82.5

1759 10 - 20 acres

48

$ 250,000

4.0

117

8,001 -10,000 sqft$ 439,000

5.0$ 595,000

27

6

2686




48

2326

2.0

The median list price in SCOTTSDALE,AZ 85254 this week is $370,900. The193 properties have been on themarket for an average of 103 days.






No change



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≠=

SCOTTSDALE, AZ85254

Neighborhood Detail


Average List Price


193

$ 1,299,900

$ 95,000

$ 415,913

30

Trend Key:


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Neighborhood DetailSCOTTSDALE, AZ

85254


Median PriceIn this zip code this week saw relatively little price change from last week. However, we continue to demonstrate a nice uptrend in general over the last several weeks.


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 fairly consistently, price per square foot is essentially flat. This often implies that newhomes coming on the 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 21.91. 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

19.4


3255

3.0

2 %


173


$ 210


10 - 20 acres


$ 683,500

28 %

4.0

Market Action Index



n/a


Strong Buyer's

±+

±+

±+

±+

==




Bottom/Fourth

Lower/Third

Upper/Second

Top/First



Supply and Demand


6 44860

1563.0 14

3.0

5

120

3.0 32

171

2

4

not available

15

$ 623,500

6

0

32

5.0

10 - 20 acres

33.0

1974 10 - 20 acres

31

$ 392,450

4.0

248

10 - 20 acres$ 799,000

4.0$ 1,575,000

12

2

3730

With inventory and days-on-marketbasically unchanged and the MarketAction Index increasing, the market isnot sending strong directional signalfor the near-term outlook.



31

3089

2.0







No change



== ≠≠

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SCOTTSDALE, AZ85266

Neighborhood Detail


Average List Price


126

$ 3,495,000

$ 179,000

$ 889,535

13

Trend Key:


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85266


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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85266


Price per Square FootThe market plateau is seen across the price and value. The price per square foot and median list price have both beenreasonably stagnant. Watch the Market Action Index for persistent changes as a leading indicator before the market moves fromthese levels.


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


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85266








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85266






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Median List Price

Median Lot Size

20.4


3827

3.0

5 %


163


$ 235


10 - 20 acres


$ 862,500

25 %

4.0

Market Action Index



n/a


Strong Buyer's

±+

≠≠

±+

≠≠

==




Bottom/Fourth

Lower/Third

Upper/Second

Top/First



Supply and Demand


7 46198

963.0 14

3.0

14

198

4.0 103

84

3

3

0.25 - 0.50acre

14

$ 725,000

14

9

103

6.0

10 - 20 acres

64.0

2357 10 - 20 acres

102

$ 440,000

4.0

275

10 - 20 acres$ 1,199,975

5.0$ 2,716,700

13

11

4477

The Market Action Index has beenclimbing lately while days-on-marketare trending down, these point to apositive near-term outlook for themarket.



102

3424

2.0







No change



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SCOTTSDALE, AZ85255

Neighborhood Detail


Average List Price


410

$ 24,500,000

$ 89,900

$ 1,545,561

13

Trend Key:


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85255


Median PriceAgain this week in this zip code we see a downward notch for prices. Pricing has been weak in recent weeks and versus theirabsolute-high level. At this point, we will be looking for a persistent upward shift in the Market Action Index as a leadingindicator for a trough in prices.




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85255


Price per Square FootDespite recently falling prices, the price per square foot has stayed reasonably flat. This implies that there's a portion of themarket being priced at a premium. You can investigate this condition in the quartile details.




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85255








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85255






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Median List Price

Median Lot Size

16.3


4156

4.0

3 %


272


$ 290


1.0 - 2.5 acres


$ 1,112,500

23 %

4.0

Market Action Index



n/a


Strong Buyer's

==

==

==

±+

≠≠




Bottom/Fourth

Lower/Third

Upper/Second

Top/First



Supply and Demand


9 06050

3263.0 12

3.0

4

251

4.0 87

150

5

1

0.50 - 1.0acre

13

$ 875,000

4

4

87

5.0

10 - 20 acres

24.0

2700 not available

86

$ 522,000

4.0

362

1.0 - 2.5acres$ 1,476,563

4.0$ 2,922,500

11

8

4566

The Market Action Index has beentrending down lately, while inventoryis climbing. These trends imply aweakening market.



86

3558

3.0

The median list price in SCOTTSDALE,AZ 85262 this week is $1,112,500. The346 properties have been on themarket for an average of 272 days.






No change



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SCOTTSDALE, AZ85262

Neighborhood Detail


Average List Price


346

$ 12,500,000

$ 250,000

$ 1,653,764

11

Trend Key:


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85262


Median PricePrice trends in this zip code continued their recent uptrend this week. While still below the market's high point, we've seen anice run recently.




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85262






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85262








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85262






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Median List Price

Median Lot Size

25.2


1962

2.0

7 %


99


$ 162


not available


$ 337,495

33 %

3.0

Market Action Index



n/a


Buyer's Advantage

±+

==

==

≠≠

≠≠




Bottom/Fourth

Lower/Third

Upper/Second

Top/First



Supply and Demand


34 23052

712.0 46

3.0

3

91

3.0 18

89

2

3

not available

46

$ 270,750

2

1

18

3.0

not available

22.0

1282 not available

17

$ 174,500

3.0

148

not available$ 395,000

4.0$ 949,000

41

2

2360

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



17

1768

2.0







No change



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SCOTTSDALE, AZ85251

Neighborhood Detail


Average List Price


70

$ 7,780,000

$ 57,000

$ 583,497

39

Trend Key:


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85251


Median PriceDespite this week's down tic, price trends in this zip code have generally been moving up lately. We are below the market's highpoint, and we'll investigate the Market Action Index later on to see if we expect this week's blip to become a downward trend.




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85251






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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 25.16 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

21.5


2477

2.0

7 %


113


$ 179


10 - 20 acres


$ 410,000

30 %

4.0

Market Action Index



n/a


Strong Buyer's

±+

±+

==

≠≠

≠≠




Bottom/Fourth

Lower/Third

Upper/Second

Top/First



Supply and Demand


21 14299

1262.0 22

3.0

2

99

3.5 31

95

3

3

10 - 20 acres

25

$ 360,000

3

1

31

3.5

not available

13.0

1720 not available

31

$ 270,000

4.0

134

10 - 20 acres$ 525,000

5.0$ 889,950

24

2

2630

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



30

2119

2.0







No change



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SCOTTSDALE, AZ85260

Neighborhood Detail


Average List Price


123

$ 2,400,000

$ 95,000

$ 547,012

23

Trend Key:


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85260


Median PriceWe continue to see prices in this zip code bouncing around this plateau. Look for a persistent up-shift in the Market Action Indexbefore we see prices move from these levels.




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85260


Price per Square FootThe value placed on homes continues to increase, despite the fact that prices in general have been basically flat recently.These conditions can arise when inventory is light and more, smaller homes have more influence on overall prices.




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85260








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85260






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Median List Price

Median Lot Size

20.9


2408

2.0

4 %


134


$ 214


not available


$ 499,900

31 %

3.0

Market Action Index



n/a


Strong Buyer's

±+

≠≠

==

≠≠

±+




Bottom/Fourth

Lower/Third

Upper/Second

Top/First



Supply and Demand


22 23394

1232.0 31

3.0

5

170

3.0 40

106

4

5

not available

28

$ 437,450

5

3

40

3.0

not available

32.0

1915 not available

40

$ 357,500

4.0

138


3.0$ 893,000

30

5

2756

The Market Action Index has beenbasically flat recently, and days-on-market decreasing, there are notstrong signals for the direction of themarket.



39

2109

2.0







No change



== ≠≠

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SCOTTSDALE, AZ85258

Neighborhood Detail


Average List Price


159

$ 2,585,000

$ 199,000

$ 609,897

28

Trend Key:


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85258


Median PricePrices in this zip code have been on a downward trend recently and this week, while essentially flat, doesn't break us out ofthat cycle.




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85258


Price per Square FootWe're seeing fairly unusual market conditions as prices have been in a downward trend but price per square foot is actuallyincreasing. (Buyers are paying less and getting less home for their money.) Anomalies like these can be attributed to micro-location variables.




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85258








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85258






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Median List Price

Median Lot Size

19.7


3805

3.0

5 %


146


$ 204


10 - 20 acres


$ 779,000

39 %

4.0

Market Action Index



n/a


Strong Buyer's

==

±+

==

≠≠

==




Bottom/Fourth

Lower/Third

Upper/Second

Top/First



Supply and Demand


10 25486

1413.0 18

3.0

4

143

4.0 41

101

3

3

10 - 20 acres

20

$ 625,000

6

5

41

5.8

not available

54.0

2370 not available

41

$ 399,900

4.0

201

10 - 20 acres$ 929,000

5.0$ 1,500,000

15

5

4226




41

3506

2.0







No change



== ≠≠

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SCOTTSDALE, AZ85259

Neighborhood Detail


Average List Price


164

$ 7,995,000

$ 195,000

$ 961,100

16

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






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85259








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85259






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Median List Price

Median Lot Size

22.6


2083

2.0

5 %


105


$ 157


not available


$ 299,450

37 %

3.0

Market Action Index



n/a


Strong Buyer's

==

==

≠≠

==

≠≠




Bottom/Fourth

Lower/Third

Upper/Second

Top/First



Supply and Demand


18 13635

982.0 42

3.0

3

114

3.0 15

81

4

1

not available

43

$ 275,000

1

2

15

3.0

not available

32.0

1604 not available

15

$ 180,000

3.0

128


4.0$ 785,000

33

3

2120

The Market Action Index has beentrending down lately, while inventoryand days-on-market are climbing. Thetrends imply a weakening market.



15

1839

2.0







No change



== ≠≠

≠=

SCOTTSDALE, AZ85250

Neighborhood Detail


Average List Price


60

$ 1,680,000

$ 70,000

$ 427,209

35

Trend Key:


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85250


Median PriceIn this zip code this week saw relatively little price change from last week. However, we continue to demonstrate a nice uptrend in general over the last several weeks.




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85250


Price per Square FootThis is a market where watching the value metrics (like price per square foot) can provide insight that you don't get at firstglance. Despite the fact that home prices are rising fairly consistently, the price per square foot of homes listed is declining.Often this can be attributed to new and remodeled homes on the market. Buyers in the area are paying more but also gettingmore for their money.




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85250








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85250






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Median List Price

Median Lot Size

23.7


1542

2.0

9 %


95


$ 128


not available


$ 199,000

34 %

3.0

Market Action Index



n/a


Buyer's Advantage

≠≠

±+

==

==

==




Bottom/Fourth

Lower/Third

Upper/Second

Top/First



Supply and Demand


50 22124

592.0 52

3.0

2

91

3.0 17

95

1

4

not available

54

$ 169,900

3

3

17

2.0

not available

42.0

1131 not available

17

$ 118,000

3.0

138


4.0$ 360,750

52

3

1626

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



16

1423

2.0







No change



== ≠≠

≠=

SCOTTSDALE, AZ85257

Neighborhood Detail


Average List Price


67

$ 895,000

$ 48,900

$ 216,243

49

Trend Key:


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85257


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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85257




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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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 23.71 so buyers should expect to find reasonable levels of selection.






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85257






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scottsdale az market updates october 2012

Documents

market actionindex

price changes

price plateau

median pricethis week

little price change

price decreasestrong

david dionsolutions

percent flip price increased10