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Despite a 13% decrease in sold properties, the average sales price increased modestly by 1%, while the average price per square foot remained stable, indicating consistent pricing dynamics. The rise in available homes for sale suggests a shift toward a more balanced market. However, with interest rates dropping below 7% and the Scottsdale home selling season gaining momentum, we anticipate a slight advantage for sellers. Wide-reaching property exposure, strong negotiation skills, and professional broker representation become crucial factors for both sellers and buyers in such a market.
– Grant Van Dyke
Scottsdale
Average Sales Price: April 2024 > $1655576 vs May 2024 > $1526595 = 8% decrease
Average Days On Market: April 2024 > 81 vs May 2024 > 74 = 9% decrease
Average Sale Price Per Square Foot: April 2024 > $498 vs May 2024 > $485 = 3% decrease
Sale to List Price Ratio: April 2024 > 96.61% vs May 2024 > 96.55% = 0% Change
Number of Sold Listings: April 2024 > 423 vs May 2024 > 405 = 4% decrease
Months Supply of Inventory: April 2024 > 4.66 vs May 2024 > 4.62 = 1% decrease
Mortgage Rate: April 2024 > 7.31% vs May 2024 > 7.17% = 2% decrease
Top 10 Sales
$10,500,000 19663 N 103rd Street
$7,250,000 12122 E Whispering Wind Drive
$6,275,000 19494 N 98th Place
$6,250,000 4331 N Jokake Drive
$5,977,000 9411 E Happy Valley Road
$5,600,000 11320 E Mesquite Drive
$5,550,000 8860 E Via Montoya
$5,420,459 4919 N Ascent Drive
$5,250,000 18690 N 101st Place
$4,950,000 9926 E Hidden Valley Road
