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The Scottsdale real estate market experienced a slowdown in sales activity in March 2023, with a decrease in the number of sold listings and the average sales price. The inventory of properties available for sale increased significantly, which may indicate that buyers have more options to choose from. Additionally, mortgage rates increased in March 2023, which could impact the purchasing power of potential buyers.
– Grant Van Dyke
Scottsdale
Average Sales Price: Q1 2022 > $1,376,624 vs Q1 2023 > $1,359,236 = 1% decrease
Average Days On Market: Q1 2022 > 37 vs Q1 2023 > 78 = 111% increase
Average Sale Price Per Square Foot: Q1 2022 > $446 vs Q1 2023 > $438 = 2% decrease
Sale to List Price Ratio: Q1 2022 > 100.69% vs Q1 2023 > 95.88% = 5% decrease
Number of Sold Listings: Q1 2022 > 1343 vs Q1 2023 > 903 = 33% decrease
Months Supply of Inventory: Q1 2022 > 1.58 vs Q1 2023 > 2.8 = 82% increase
Mortgage Rate: Q1 2022 > 4.73% vs Q1 2023 > 6.48% = 37% increase
Top 10 Scottsdale Sales
$9,900,000 21376 N 110th Place
$7,100,000 11360 E Apache Vistas Dr
$7,000,000 42395 N Saguaro Forest Dr
$6,700,000 9401 E AW Tillinghast Dr
$6,650,000 41296 N 96th Street
$5,795,000 4401 N 61st Street
$5,700,000 9727 E Bajada Road
$5,600,000 8763 E Hackamore Dr
$5,250,000 36931 N 102nd Place
$5,250,000 18967 N 98th Way #3691
