Scottsdale AZ Real Estate
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2017 Annual Review
Steady Gains, Healthy Market

This is the same headline for 2016 and the market "conditions" remain the same; sales growth, low inventory and increased property values. It remains a sellers market and the pattern/forecast indicates this will continue through 2018. We have a healthy economy and the desire to live in Arizona continues, ranked 5th in US population growth (1.6%) for 2017.

2017 Annual Market Statistics
Total Sales up  5.8%
New Inventory down  3.9%
Total Inventory down  11.6%
Mo. of Inventory  2.85
Distressed Invent. down  12.8%


Price Appreciation
The important factor reflecting market growth and home ownership. Below are measurements for 2017 and note the comparison vs. 2016.

2017 Price Appreciation
- Median sales price: +8.5% ($246,000),
- Average sales price: +9.5% ($308,100)
- Price per square foot: +8.2%

2016 Price Appreciation
- Median sales price: +5.6% ($227,000)
- Average sales price: +5.2% ($284,400)
- Annual price per square foot: +5.4%