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The 4% decrease in the number of sold listings indicates a cooling in transaction volume for Scottsdale’s housing market in our 3rd Quarter. However, the 12% rise in average sales price along with a 15% increase in inventory, suggests that home values continue to grow. Even still, buyers are coming off the sidelines. This dynamic is greatly influenced by a 17% decrease in mortgage rates, which may encourage more purchasing power despite the elevated prices.
– Grant Van Dyke
Scottsdale
Average Sales Price: Q3 2023 – $1,349,650 vs Q3 2024 – $1,518,150 = 12% increase
Average Days On Market: Q3 2023 – 72 vs Q3 2024 – 84 = 17% increase
Average Sale Price Per Square Foot: Q3 2023 – $448 vs Q3 2024 – $478 = 7% increase
Sale to List Price Ratio: Q3 2023 – 96.42% vs Q3 2024 – 96.02% = 0% Change
Number of Sold Listings: Q3 2023 – 917 vs Q3 2024 – 879 = 4% decrease
Months Supply of Inventory: Q3 2023 – 2.5 vs Q3 2024 – 2.88 = 15% increase
Mortgage Rate: Q3 2023 – 7.55% vs Q3 2024 – 6.24% = 17% decrease
Top 10 Sales
$17,000,000 10323 E Robs Camp Road
$10,800,000 42994 N 102nd Street
$9,975,000 8015 N 74th Place
$9,100,000 20243 N 103rd Way
$8,112,000 9735 E Kemper Way
$8,098,500 7898 E Whisper Rock Trail
$8,000,000 10110 E Siesta Lane
$7,695,000 9889 E Happy Valley Road, #2
$7,350,000 10777 E Distant Hills Drive
$7,100,000 8441 E Gary Road
