Market Conditions

In early 2024, Scottsdale's housing market is characterized by a median listing price of approximately $1.1 million and an average price per square foot of $451. Homes are selling for a median price of around $848,000, reflecting strong demand within a balanced market. This dynamic suggests a slight advantage for buyers due to an increase in active listings compared to previous years.

Source: Realtor.com

Recent Sales and Listings

The average days on market for homes in Scottsdale has dropped to about 35 days, indicating a faster sales pace. The median sale price as of December 2023 is $848,000, with the median list price at $1.1 million. These figures indicate a competitive market with a significant rise in asking prices over the past year.

Source: Realtor.com

Market Trends

There's a notable trend towards properties receiving multiple offers, with homes generally selling close to their listing price. The sale-to-list price ratio is around 97.27%, indicating that most homes sell for just below their asking price. This trend underscores a competitive market where well-priced homes in desirable locations continue to attract strong interest.

Source: Realtor.com

Outlook for Buyers and Sellers

Scottsdale currently presents a balanced market that may slightly favor buyers. The number of homes sold has seen a slight decline, which could be an advantage for buyers looking for less competition. However, sellers are still seeing strong interest, especially for well-priced homes in desirable locations. This dynamic environment provides opportunities for both buyers and sellers to benefit from ongoing trends.

For ongoing updates and more detailed information, checking platforms like Hard Hat Real Estate and Realtor.com would provide real-time data and trends.

Source: Realtor.com