Scottsdale Housing Market Update

By
Real Estate Agent with Value Added Service, 602-620-2699 SA5376460000

Scottsdale is a unique city in terms of housing inventory.  There is literally something for everyone.  There are luxury mansions, horse properties, homes with amazing mountain views, modest homes, fractional ownership luxury homes, high rise luxury condos, and modest condos.  This Scottsdale Housing Market Update is prepared from a subscription courtesy of the Cromford Report. 

 

As you can guess, each of these has it's own price range, floor plans, amenities and very different locations.  For that reason, this report should be generalized.  If you are seeing this report and require something more specific, please contact me and I'll create a customized report.  

 

The first graph reflects Active Listings in Scottsdale.  For this Scottsdale Housing Market Update you can see the dip each year around late July, early August where the number of listings drops.  Most of our sales occur during the summer months so the number of listings declines.  However, as you can see the number of Active Listings during the winter months of 2016/2017 showed much less inventory which created quite a flurry of activity. 

Scottsdale Housing Market Update Active Listings

As you can see from this graph, the Median Price has remained somewhat constant during the last few years.  Our market is more of a balanced market without the extreme highs and lows of the not to distance past.  It's notable that the Median Sales Price in Scottsdale has risen from $406,000 to $420,000 year over year.

 

 

Scottsdale Housing Market Update Median Sales Price

The next report for the Scottsdale Housing Market Update is for the Under Contract List Price per Square Foot, which has risen from $247.37 to $252.55 year over year for June, 2017.  Prices have slowly risen since April 2014 when they peaked at $246.20 after a steep run up.  Knowing that prices are not rising rapidly should help sellers to be more realistic in pricing their homes for sale. 

 

Scottsdale Housing Market Update Under Contract List Price

It's clear from this graph that foreclosures are  very small part of the sales price in June, 2017 for this Scottsdale Housing Market Update.   Total sales from May 2016 was 7,891 while May, 2017 produced  8,381 sales, a 6% increase year over year in total sales for Scottsdale.  Since this graph includes all price points, bear in mind that Scottsdale Housing Market Update includes sales ranging from $41,000 condo to $6.9 million luxury home. 

Scottsdale Housing Market Update Sales June 2017

If you have a home to sell in Scottsdale or looking to purchase real estate in Scottsdale, give me a call! 

 

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Comments (7)

Anna Banana Kruchten CRS, Phoenix Broker
HomeSmart Real Estate BR030809000 - Phoenix, AZ
602-380-4886

Great market report for Scottsdale Jan!  The Cromford charts truly show the picture and it's so easy to understand.

Jun 06, 2017 05:58 PM
Myrl Jeffcoat
Sacramento, CA
Greater Sacramento Realtor - Retired

That's valuable market information for home buyers and sellers in the Scottsdale area, Jan!

Jun 06, 2017 07:17 PM
Jan Green - Scottsdale, AZ
Value Added Service, 602-620-2699 - Scottsdale, AZ
HomeSmart Elite Group, REALTOR®, EcoBroker, GREEN

Thank you Anna Banana Kruchten, CRS !  Love, love their reports.  And you're right very simple to follow.   Hope you're doing well my friend!

Thank you Myrl Jeffcoat !  Knowledge is power for buyers and sellers.  Have a great day!

Jun 07, 2017 09:04 AM
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Jan love the report Scottsdale has always been my favorite town in AZ... my friend aka college room mate  lives there:))Endre

Jun 12, 2017 11:43 PM
Jan Green - Scottsdale, AZ
Value Added Service, 602-620-2699 - Scottsdale, AZ
HomeSmart Elite Group, REALTOR®, EcoBroker, GREEN

Endre Barath, Jr. I sure understand! I started coming here in '87, visited my sister who moved her mid-90's and then moved here 12/30/98.  I remember it vividly because I rode the elevator with Carlos Santana at the Biltmore Ritz Carlton on 12/31!   The desert has it's own beauty and with the mountains surrounding it's captivating.  Of course I'm not telling you anything you don't know!  Call Anna and I if you ever get down this way and we'll have a mini meet-up! 

Jun 13, 2017 10:15 AM
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Jan that would be fun a non authorized :))no points meetup with you and Anna Banana Kruchten, CRS , just on a side note one summer I went there and that was before '98...I never forget it, because that was the first time Scottsdale hit 115 degree heat and everyone was celebrating and getting T-shirts to commemorate this event:))Endre

Jun 13, 2017 11:28 PM
Anna Banana Kruchten CRS, Phoenix Broker

Endre Barath, Jr. you'd have fun with Jan Green and moi!!  And I remember that hot day but it got up to 122!!!! I was up in Flagstaff about to fly down to Phoenix in a little plane and we had to cancel the trip. We would not have gotten 'lift' on the return trip at 122 degrees.  Cooler up in Flag anyway!!!

Jun 14, 2017 11:18 AM
Jan Green - Scottsdale, AZ
Value Added Service, 602-620-2699 - Scottsdale, AZ
HomeSmart Elite Group, REALTOR®, EcoBroker, GREEN

LOL!  Well Endre Barath, Jr. Next Tuesday they are predicting 118 so don't come then!  In fact I'm scheduling a boating day that day to dip in the lake!   

Jun 14, 2017 09:26 AM