The 4% decrease in the number of sold listings indicates a cooling in transaction volume for Scottsdale’s housing market in our 3rd Quarter. However, the 12% rise in average sales price along with a 15% increase in inventory, suggests that home values continue to grow. Even still, buyers are coming off the sidelines. This dynamic […]
In the coming months, it will be important to watch for continued stabilization of home prices and shifts in buyer activity due to decreasing mortgage rates. In August 2024, Scottsdale’s real estate market saw a 9% decline in both sold listings and the average sales price, which settled at $1,432,827. Inventory increased to 5.4 months’ […]
The Scottsdale single-family home market in July 2024 showed a cooling trend compared to June. Sold home prices experienced a modest decline all the while properties sold slightly quicker, suggesting a more active market. The number of homes sold also dropped month over month. Additionally, the inventory of available homes decreased, which could lead to […]
Given the 6% decrease in sold listings and the 18% increase in inventory, the Scottsdale housing market may face short term pressure on transaction volumes in the coming months. However, the significant 11% rise in the average sales price and the increase in the average price per square foot indicate strong market values. With mortgage […]
Despite a 13% decrease in sold properties, the average sales price increased modestly by 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 rates dropping below 7% and the Scottsdale home selling […]
The current real estate market in Scottsdale can be succinctly described as “subdued.” Despite low sales volumes and distress levels near historic lows, stability prevails. A notable shift in prices seems unlikely in the near future, dampening hopes of significant price reductions. The trajectory hints at a gradual move towards balanced market conditions, tempering expectations […]
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 […]