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Given the 6% decrease in sold listings and the 18% increase in inventory, the Scottsdale housing market may face short term pressure on transaction volumes in the coming months. However, the significant 11% rise in the average sales price and the increase in the average price per square foot indicate strong market values. With mortgage rates climbing to an average of 7.02%, potential buyers may need to navigate higher borrowing costs, potentially influencing future market dynamics.
– Grant Van Dyke
Scottsdale
Average Sales Price: Q2 2023 > $1,449,848 vs Q2 2024 > $1,602,713 = 11% increase
Average Days On Market: Q2 2023 > 73 vs Q2 2024 > 81 = 11% increase
Average Sale Price Per Square Foot: Q2 2023 > $454 vs Q2 2024 > $489 = 8% increase
Sale to List Price Ratio: Q2 2023 > 96.26% vs Q2 2024 > 96.55% = <1% increase
Number of Sold Listings: Q2 2023 > 1,230 vs Q2 2024 > 1,155 = 6% decrease
Months Supply of Inventory: Q2 2023 > 2.09 vs Q2 2024 > 2.47 = 18% increase
Mortgage Rate: Q2 2023 > 6.84% vs Q2 2024 > 7.02% = 3% increase
Top 10 Sales
$12,250,000 19486 N 104th Street
$10,500,000 19663 N 103rd Street
$9,500,000 6039 E Mariposa Street
$8,200,000 11267 N 98th Place
$7,700,000 38300 N 102nd Street
$7,650,000 19890 N 101st Way
$7,499,999 42157 N 101st Way
$7,499,000 6445 N Cattle Track Rd
$7,400,000 42243 N 112th Place
$7,250,000 12122 E Whispering Wind Dr
