The numbers are in for the Scottsdale and Phoenix real estate market reports for June 2015. The markets in both cities are remarkably strong and stable, both in comparison to May 2015 and June 2014. The Phoenix real estate market is larger than Scottsdale’s, so it’s no surprise that there were a total of 2,134 homes sold in Phoenix, in comparison to the Scottsdale real estate market’s 761. Phoenix home sales increased 22.43% from June of last year. There was also an 8.93% increase over May 2015. In Scottsdale, home sales were up 10.93% from June 2014, but down 0.39% from May 2015.
Phoenix housing prices are less than Scottsdale’s, but Phoenix is seeing a steady increase in housing prices while Scottsdale homes are selling for less, compared to last month and last year. In Phoenix, the average home price for June 2015 was $251,568, while the median was $200,000. This represents an increase of 11.64% for the average price and 14.29% for the median from June 2014. People thinking of selling a Phoenix home are looking at a seller’s market. The average number of days a house spends on the market is 71, which is a more than 7% decrease from the same time last year. It’s a small increase, just over 1% from the previous month.
The average home selling price in Scottsdale was $508,181, and the median was $377,000 for June 2015. These are both decreases from last year: 2.06% for the average and 5.63% for the median. However, the average price in June 2015 is up 2.96% from the previous month. Scottsdale homes stayed on the market for an average of 106 days in June 2015. This is up 1.92% from last year and 0.95% from last month. Scottsdale sellers shouldn’t take this as terrible news. In part the numbers look so much lower because March and April of 2015 saw sharp increases in home prices. Taking a longer view shows that June prices are in keeping with what the Scottsdale market has seen over the last couple of years. Scottsdale homes are still very much in demand.
