There’s good news in the Scottsdale housing market: the Average Sales Price has risen by 1% to a comfortable $1,362,950, equating to a $451 Average Price Per Square Foot. Additionally, inventory has decreased to 3.83 months’ worth of properties for sale, signaling a move toward a balanced market. While mortgage rates have hovered above 7%, […]
The Scottsdale housing market for July 2023 indicates a decline in sold listings and average sales prices for the 2nd consecutive month, with an increase in inventory. However, U.S. property values are up in all regions except for the West and Mountain, which serve as lead indicators for market trends. It remains to be seen […]
In June 2023, the housing market in Scottsdale had a solid performance, benefiting home sellers. Overall, these statistics reflect a resilient housing market in Scottsdale during June 2023. The lower number of sold listings, adjusted average sales price, increased inventory, and slightly higher mortgage rates are all indicative of a favorable environment for home sellers. […]
Scottsdale’s ultra-luxury market is experiencing a blazing surge, with sales skyrocketing by 32% on a monthly basis. We are witnessing multiple offers on properties, as buyers scramble to secure the most desirable housing options. The scarcity of available properties in Scottsdale is the primary factor behind the increase in average sale prices. It will be […]
The month of April saw demand outpacing supply, shifting focus away from interest rates as the main driver of the market. The balance between supply and demand has shifted in favor of sellers since mid-November, indicating the market correction that caused a major slow down in the fourth quarter of 2022. With all this said, […]
The Scottsdale real estate market experienced a slowdown in sales activity in March 2023, with a decrease in the number of sold listings and the average sales price. The inventory of properties available for sale increased significantly, which may indicate that buyers have more options to choose from. Additionally, mortgage rates increased in March 2023, […]
The market continues to improve for sellers. Sold properties are up 34% over January 2023; this increase is much more positive than the industry expected in the fourth quarter of 2022. The contract ratio for all areas & types has risen above 60% as of March 1st, showing signs of a market heating up again. […]
Demand weakened, as it always does during the holiday season, which is why our supply took a 24% jump this month. However weak demand does not necessarily make a market crash. Excess supply is what really drives prices down hard, and we’re simply not seeing that. The downward pricing trend is actually weakening. Asking prices […]
According to Flex-MLS, the Marketplace for Scottsdale Residential Properties, in Quarter 4, 2022 versus Quarter 4, 2021: The Number of SOLD listings decreased by 32% to 4,417 units, with a top sale of $28,100,000 at 21264 N 113th Place, Scottsdale. The Average Sales Price increased by 17% to $1,393,700, moving the Average Price Per Sq Foot […]
If you’re thinking about buying or selling residential real estate it’s important to understand the current market trends. According to Flex-MLS, the Marketplace for Scottsdale Residential Properties, in November 2022 versus October 2022: The Number of SOLD listings decreased by 11% to 248 units with a top sale of $11,200,000 at 9820 E Thompson Peak Parkway […]
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