In Quarter 1, 2024, Scottsdale saw a 1% increase in Sold properties compared to Quarter 1, 2023, yet Average Sales prices increased by 9%. Despite this, Inventory rose, offering homebuyers more choices and bargaining power. As we enter Quarter 2, our seasonally strong period for sales, attention turns to potential rate cuts by the Federal […]
In February 2024, Scottsdale’s housing market showed a big increase in property values and demand compared to January. The average home sales price rose to $1,465,679, showing strong market activity and higher property prices. Also, the number of available properties for sale decreased from a 7-month supply in January to a 5.55-month supply in February […]
For both buyers and sellers, the good news is that mortgage rates have steadily declined since last October and are expected to remain in the mid-6% range for 2024. While higher than the record lows of 2020 and ’21, they still fall below the historical average of 7.74%. This, along with increased inventory, signals the […]
A 13% decrease in SOLD properties reflects reduced demand and market activity. Despite this decline, the Average Sales Price Increased by a modest 1%, while the Average Price Per square foot remained stable, indicating consistent pricing dynamics. The rise in available homes for sale suggests a shift toward a more balanced market. However, with interest […]
The recent 5% increase in SOLD listings to 275 units has impacted the real estate market, but not like you’d think. The rise in available Scottsdale homes for sale hasn’t led to a significant price shift, with the Average Sales Price declining by 8% to $1,412,191. Additionally, the 7% decrease in mortgage rates to 7.41%, […]
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, […]
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