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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. You should anticipate seeing house prices rise over the coming months, no matter what you hear or read in the media. This is because the media tends to base their reports and projections on lagging housing data, such as the S&P Case-Shiller® Home Price Index®.
– Grant Van Dyke
Scottsdale
Average Sales Price: January 2023 > $1,257,034 vs February 2023 > $1,452,904 = 16% increase
Average Days On Market: January 2023 > 78 vs February 2023 > 78 = 0% No Change
Average Sale Price Per Square Foot: January 2023 > $431 vs February 2023 > $446 = 3% increase
Sale to List Price Ratio: January 2023 > 95.51% vs February 2023 > 96.07% = 1% increase
Number of Sold Listings: January 2023 > 205 vs February 2023 > 274 = 34% increase
Months Supply of Inventory: January 2023 > 8.04 vs February 2023 > 6.04 = 25% decrease
Mortgage Rate: January 2023 > 6.42% vs February 2023 > 6.64% = 3% increase
Top 10 Sales
$9,900,000 21376 N 110th Place
$7,100,000 11360 E Apache Vistas Drive
$5,700,000 9727 E Bajada Road
$5,600,000 8763 E Hackamore Drive
$5,250,000 36931 N 102nd Place
$5,250,000 18967 N 98th Way #3691
$5,045,355 24818 N 90th Way
$4,925,000 9757 E Kemper Way
$4,708,000 10143 E Diamond Rim Drive
$4,385,000 27234 N 102nd Street
