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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%, this has prompted a shift towards more favorable conditions for buyers, as the seller’s advantage is gradually waning.
– Grant Van Dyke
Scottsdale
Average Sales Price: July 2023 > $1,348,146 vs August 2023 > $1,362,950 = 1% increase
Average Days On Market: July 2023 > 80 vs August 2023 > 74 = 8% decrease
Average Sale Price Per Square Foot: July 2023 > $442 vs August 2023 > $451 = 2% increase
Sale to List Price Ratio: July 2023 > 96.97% vs August 2023 > 95.44% = 2% decrease
Number of Sold Listings: July 2023 > 312 vs August 2023 > 334 = 7% increase
Months Supply of Inventory: July 2023 > 4.31 vs August 2023 > 3.83 = 11% decrease
Mortgage Rate: July 2023 > 6.96% vs August 2023 > 7.32% = 5% increase
Top 10 Sales
$9,500,000 11301 E Honey Mesquite Drive
$8,600,000 20914 N 104th Street
$7,250,000 8868 E Hualapai Drive
$5,400,000 10584 E Greythorn Drive
$4,000,000 6404 E Gainsborough Road
$3,940,000 36483 N 101st Way
$3,776,305 11264 E Apache Vistas Drive
$3,750,000 10244 E Windrunner Drive
$3,700,000 10826 N 83rd Street
$3,685,000 20245 N 101st Way
