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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 of rapid price surges. Anticipation lingers for potential mortgage rate decreases to ignite buyer interest.
– Grant Van Dyke
Scottsdale
Average Sales Price: March 2024 – $1,546,211 vs April 2024 – $1,657,094 = 7% increase
Average Days On Market: March 2024 – 71 vs April 2024 – 81 = 14% increase
Average Sale Price Per Square Foot: March 2024 – $482 vs April 2024 – $499 = 4% increase
Sale to List Price Ratio: March 2024 – 96.88% vs April 2024 – 96.61% = 0% No Change
Number of Sold Listings: March 2024 – 346 vs April 2024 – 422 = 22% increase
Months Supply of Inventory: March 2024 – 5.66 vs April 2024 – 4.57 = 19% decrease
Mortgage Rate: March 2024 – 7.01% vs April 2024 – 7.31% = 4% increase
Top 10 Sales
$7,700,000 38300 N 102nd Street
$7,499,000 6445 N Cattle Track Road
$7,400,000 42243 N 112th Place
$7,247,000 11986 E Buckskin Trail
$7,200,000 18604 N 101st Place #19
$6,200,000 8491 E Whisper Rock Trail
$6,000,000 10320 E Mountain Spring Road
$5,800,000 9202 E Diamond Rim Drive
$5,725,000 9757 E Kemper Way
$5,685,000 23779 N 91st Street
