News > Scottsdale Condo Sales Volume Down for our Busy Season

published on 2014-05-29 by Liz Suto

Scottsdale condo sales volume was glacial during the first quarter of 2014, following the trend from the previous quarter. Here are some additional statistics for Scottsdale condos for sale. All statistics are based on sales for condos, townhomes and lofts.

Scottsdale had a definite decrease in resale activity in the 1st quarter, with 458 sold compared to 559 in 2013 during the same period. This represents a drop of nearly 18.1% over the same quarter the previous year.

The slow sales volume has pushed up the average days on market to 85 days, which is 14.9% more than the 74 days during the 1st quarter in 2013.

Even though sales volume was slow, the median condo price increased slightly from $183,900 during the 1st quarter in 2013, to $190,000, representing a 3.3% gain.

For the 458 sold condos and townhomes in Scottsdale, the average price per square foot during the 1st quarter was $171, which shows an increase from $163 in the 1st quarter of 2013.

All-in-all, the slow down in sales may temper price increases, and buyers should breathe a sigh of relief that we've entered a more "normal" market, with enough condos to choose from across most Scottsdale condo communities.  As an example,  even though our winter season is almost over, there are plenty of Scottsdale golf condos still available to choose from. 

© 2014 ARMLS and FBS. All information deemed accurate but not guaranteed.

 

Though not guaranteed, information and statistics in this article have been acquired from sources believed to be reliable.

Related Links

• Scottsdale Market Reports