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 […]
Scottsdale | October 2022 vs October 2021 Average Sales Price: September 2022 > $1,200,011 vs October 2022 > $1,318,068 = 10% increase Average Days On Market: September 2022 > 51 vs October 2022 > 60 = 18% increase Average Sale Price Per Square Foot: September 2022 > $435.24 vs October 2022 > $440.04 = 1% increase […]
Scottsdale Average Sales Price: Q3 2021 > $1,127,455 vs Q3 2022 > $1,336,834 = 19% increase Average Days On Market: Q3 2021 > 37 vs Q3 2022 > 47 = 27% increase Average Sale Price Per Square Foot: Q3 2021 > $378.24 vs Q3 2022 > $447.98 = 18% increase Sale to List Price Ratio: […]
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 August 2022 versus July 2022, the Number of SOLD listings increased by 19% to 322 units, with a top sale of $9,300,000 at 11125 E Feathersong Ln, […]
Scottsdale | July 2022 vs June 2022 Average Sales Price: June 2022 > $1,499,941 vs July 2022 > $1,390,996 = 7% decrease Average Days On Market: June 2022 > 34 vs July 2022 > 37 = 9% increase Average Sale Price Per Square Foot: June 2022 > $476.43 vs July 2022 > $467.53 = 2% […]
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