At the same time, many of the homes on the market (in some areas, and in some price ranges) are short sales or foreclosures, which can required some flexibility in your purchase timing. Banks have been pricing their REO properties to sell, which has had a dramatic impact on our real estate markets, to the benefit of the buyer.
In some areas of Scottsdale, homes are selling much more quickly. In the past couple of weeks, one of the buyers that I'm working with lost out on a home in a multiple offer situation. Other homes that she has been interested in have also gone under contract quickly. We are continually monitoring homes coming to market, so she can be one of the first to see, now that she knows first-hand the market value in her desired area.
If you are interested in tracking the Scottsdale market, I've posted some Altos Research reports on my web site, that break the market down by zip code. These reports are updated weekly and will help you learn more about the current real estate market for various parts of town.