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Scottsdale’s ultra-luxury market is experiencing a blazing surge, with sales skyrocketing by 32% on a monthly basis. We are witnessing multiple offers on properties, as buyers scramble to secure the most desirable housing options. The scarcity of available properties in Scottsdale is the primary factor behind the increase in average sale prices. It will be fascinating to observe how home sales fare with interest rates inching closer to the 7% mark.
– Grant Van Dyke
Scottsdale
Average Sales Price: April 2023 > $1395335 vs May 2023 > $1452361 = 4% increase
Average Days On Market: April 2023 > 75 vs May 2023 > 72 = 4% decrease
Average Sale Price Per Square Foot: April 2023 > $445 vs May 2023 > $458 = 3% increase
Sale to List Price Ratio: April 2023 > 95.85% vs May 2023 > 95.73% = 0%
Number of Sold Listings: April 2023 > 322 vs May 2023 > 424 = 32% increase
Months Supply of Inventory: April 2023 > 5.16 vs May 2023 > 3.65 = 29% decrease
Mortgage Rate: April 2023 > 6.48% vs May 2023 > 6.90% = 6% increase
Top 10 Sales
$10,500,000 11021 E Whistling Wind Way, #1801
$7,500,000 9873 E Honey Mesquite Drive
$7,500,000 11268 E Moonlight Canyon
$7,200,000 6235 E Montecito Ave
$6,500,000 12255 E Paraiso Dr, #6
$6,300,000 11260 E Mesquite Drive
$6,000,000 9202 E Hualapai Drive
$5,574,009 5063 N Ascent Drive
$5,300,000 9811 E Kemper Way
$5,250,000 32528 N 144th Street
