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The recent 5% increase in SOLD listings to 275 units has impacted the real estate market, but not like you’d think. The rise in available Scottsdale homes for sale hasn’t led to a significant price shift, with the Average Sales Price declining by 8% to $1,412,191. Additionally, the 7% decrease in mortgage rates to 7.41%, as reported by Bank Rate.com, could potentially increase demand while reducing the inventory of properties available for sale by 7%, resulting in 5.81 months’ worth of properties on the market. This balanced situation may offer buyers and sellers opportunities in the months ahead.
– Grant Van Dyke
Scottsdale
Average Sales Price: October 2023 > $1,537,623 vs November 2023 > $1,412,191 = 8% decrease
Average Days On Market: October 2023 > 61 vs November 2023 > 59 = 3% decrease
Average Sale Price Per Square Foot: October 2023 > $488 vs November 2023 > $456 = 7% decrease
Sale to List Price Ratio: October 2023 > 96.96% vs November 2023 > 95.91% = 1% decrease
Number of Sold Listings: October 2023 > 261 vs November 2023 > 275 = 5% increase
Months Supply of Inventory: October 2023 > 6.28 vs November 2023 > 5.81 = 7% decrease
Mortgage Rate: October 2023 > 8.01% vs November 2023 > 7.41% = 7% decrease
Top 10 Sales
$1,3850,000 21297 N 110th Way
$1,2650,000 20961 N 109th Place
$8,010,000 9245 E Rimrock Drive
$5,175,000 9423 E Covey Trail
$5,000,000 9821 E Sundance Trail
$4,925,000 7632 E Sweetwater Ave
$4,650,000 7699 E Black Mountain Road
$4,250,000 36690 N Mirabel Club Drive
$4,150,000 6115 E Calle Del Norte
$3,700,000 20497 N 100th Place
