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Scottsdale’s real estate market saw a 13% jump in average sales price to $1.78M, despite a 19% rise in inventory, signaling continued demand, especially in the luxury sector, where a $21M sale set the tone. However, total sold listings dipped by 4%, suggesting a potential shift as more properties hit the market. With mortgage rates holding steady at 7.03%, buyers have a window of predictability, while sellers should act strategically as inventory grows.
– Grant Van Dyke
Scottsdale
Average Sales Price: December 2024 > $1,579,958 vs January 2025 > $1,788,771 = 13% increase
Average Days On Market: December 2024 > 83 vs January 2025 > 90 = 8% increase
Average Sale Price Per Square Foot: December 2024 > $494 vs January 2025 > $530 = 7% increase
Sale to List Price Ratio: December 2024 > 95.83% vs January 2025 > 95.76% = 0% No Change
Number of Sold Listings: December 2024 > 303 vs January 2025 > 292 = 4% decrease
Months Supply of Inventory: December 2024 > 5.56 vs January 2025 > 6.6 = 19% increase
Mortgage Rate: December 2024 > 7.04% vs January 2025 > 7.03% = 0% Change
Top 10 Sales
$21,000,000 11235 E Wingspan Way
$11,800,000 6230 E Hillcrest Blvd
$8,500,000 11935 E Buckskin Trail
$7,700,000 10225 E Journey Lane
$7,195,000 9820 E Thompson Peak Pkwy #711
$6,345,000 10320 E Mountain Spring Road
$6,100,000 10189 E Venado Trail
$5,750,000 9330 E Brahma Road
$5,650,000 38031 N 97th Way
$5,200,000 10379 E Mirabel Club Drive
