While the Scottsdale real estate market was going fast and furious at the beginning of the summer, the July market saw some slowing. This is in keeping with the real estate market for the rest of the state, too. There were 617 closed home sales in Scottsdale in July. This is a dip of 15.83% compared to July 2015 and 24.94% compared to June of this year. The median sold price for Scottsdale real estate was $390,000. The median price dropped 2.26% from last year and 3.41% from June. The average selling price of a home was $498,194. This is down 1.22% from last year and 1.65% from June. Houses are also staying on the market longer. The average home sold in 114 days in July, which is 6.54% longer than last year and 2.7% longer than June 2016.
Paradise Valley Home Market is Looking Strong
The Paradise Valley home market looks rather different from Scottsdale. Twenty four homes were sold in July of this year, compared to 36 last year. In June, there were 37 home sales. The median sold price of a house in Paradise Valley was $1,050,000 in July. This is a drop of 16% from June but a gain of 23% from July 2015. The average sold price in July was $1,369,896. This is an increase of 34.72% from last year and 6.26% from June. Homes sold in an average of 121 days in July. This is down by almost 46% from last year and 17.68% from June.
Please contact our office to discuss your home buying or selling plans in Scottsdale, Paradise Valley, and the surrounding area.