Special offer

Homes for sale $1 to $2 million in Scottsdale, AZ

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

As of today, January 18, 2024, there are 1,816 homes in Scottsdale, Arizona for sale. There are 442 homes for sale priced between $1 and $2 million in Scottsdale for sale.   Homes available in Scottsdale range from a $33,900 mobile home on leased land to a $32 million mansion on a two acre parcel built in 2023!   There is truly something for everyone! 

 

The main chart shows that every city in Maricopa County (3 in Pinal County) have seen increases in Cromford Market Index.  Any number over 110 reflects a sellers market. 

 

A bit about Scottsdale -  Scottsdale, Arizona was founded in 1951 and is named after Winfield Scott who came to Arizona in 1888.  Scott purchased 640 acres in what is now an area just north of Old Town Scottsdale.   He's also responsible for planting peanuts and citrus in Phoenix and Scottsdale.  

Old Town Scottsdale

Scottsdale is bounded to the south by Tempe and the Salt River Pima Maricopa Indian Reservation; to the west is Phoenix;  to the  north is Cave Creek and Carefree; with the town of Fountain Hills  and the McDowell Mountain Regional Park to the East.  The McDowell Mountain Regional Park is 33,000 acres.  Scottsdale is 11 miles wide and 31 miles long.  Below  is the Canal filled with Colorado River Water headed into Scottsdale just south of Scottsdale  and Camelback Roads in Old Town Scottsdale.  History of the Canal system.

Scottsdale Water Front Canal

The following charts are specific to  Homes for Sale priced from $1 to $2 million in Scottsdale.  Inventory in Scottsdale is just 3.6% of the total in Maricopa County, which is 12,263 homes, mobile homes, condos, and townhomes.  This sort of makes sense since the Population of Scottsdale is about 250,000  (5%) versus Maricopa County being 4,497,000.  Low inventory is a constant theme across the US. Current inventory in this price range is higher than 2023, but lower than 2020.

 

Homes for Sale Scottsdale $1 - $2 million

The biggest supply of inventory in this price range are homes sized from 2500 - 3500 square feet.    There are very few homes in Scottsdale that are under 1500 square feet.

Active Listing by sq ft 1_2 million Scottsdale

The median price for homes in Scottsdale just increased to $844,000 in January from $775,000 in December, 2023.  Median price excludes the highest and lowest price to come up with a more normal average. 

Median Home Price in Scottsdale January 2024

How many buyers are paying over list price for homes between $1 and $2 million? The number has decreased since the frenzy between 2020 and 2022, but there are still homes selling over list price.  In the last 30 days, 47 homes priced from $1 to $1.5 million have sold over list price.   For homes priced slightly higher at $1.5 - $2 million, 33 buyers paid over list price.  That is STRONG evidence of a sellers' market. 

Homes selling over list price $1 - $2 million Scottsdale

How long will it take to sell existing inventory?  According to the Cromford Report, four months in this price range!  The lowest point in history when these homes sold the quickest was March, 2022 when there were 4 weeks of inventory. 

Months Supply $1 - $2 million Scottsdale January 2024

Prices continue to climb for homes priced from $1 to $2 million in Scottsdale according to this chart.  The current price per square foot - $821.91.

Under Contract Price per sq ft $1 - $2 million Scottsdale, January 2024

Year over year, this chart reflects appreciation by price range.   As inventory remains low with increasing prices, there is upward pressure on sales. 

Year over Year Scottsdale Appreciation January 2024

If you're looking to make a change in your real estate holdings, make sure to use a knowledgeable professional to take advantage of the housing market.  

These charts are produced by subscription to the Cromford Report.  Please do not reproduce. 

Posted by

Search the Arizona Regional MLS

Search for Homes

      

 

HomeSmart Elite Group                                  

8388 E Hartford Dr., Suite 100

Scottsdale, AZ 85255                                                         

(602) 620-2699   DIRECT

www.AZGreenRealty.com

www.GotGreen.info                  facebook   Google + twitter   youtube   linkedin   pinterest   

 

Endre Barath, Jr.
Berkshire Hathaway HomeServices California Properties - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Loved your detailed Market Report must take lessons from you Jan Green - Scottsdale, AZ  keep it up, Endre

Jan 18, 2024 09:42 PM
Brian England
Ambrose Realty Management LLC - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

Scottsdale is a wonderful place to call home!  The stats that you provided cover pretty much everything!

Jan 19, 2024 04:57 AM
Jeffrey DiMuria 321.223.6253 Waves Realty
Waves Realty - Melbourne, FL
Florida Space Coast Homes

Wow, that is a lot of info~!!! The enormous range of homes means you have something for virtually EVERY buyer. 

Jan 19, 2024 05:28 AM
Jan Green - Scottsdale, AZ
Value Added Service, 602-620-2699 - Scottsdale, AZ
HomeSmart Elite Group, REALTOR®, EcoBroker, GREEN

Not you Endre Barath, Jr. !  I'm sure you provide great information to your clients!  Thank you for that.  Have a wonderful weekend!

Jan 19, 2024 08:35 AM
Jan Green - Scottsdale, AZ
Value Added Service, 602-620-2699 - Scottsdale, AZ
HomeSmart Elite Group, REALTOR®, EcoBroker, GREEN

Thank you Brian England !  I appreciate you!

Jan 19, 2024 08:35 AM
Jan Green - Scottsdale, AZ
Value Added Service, 602-620-2699 - Scottsdale, AZ
HomeSmart Elite Group, REALTOR®, EcoBroker, GREEN

The intended client received the info and it helped him make a decision Jeffrey DiMuria 321.223.6253 Waves Realty !  We shall see what happens next!  Have a wonderful weekend! 

Jan 19, 2024 08:36 AM
Carol Williams
Although I'm retired, I love sharing my knowledge and learning from other real estate industry professionals. - Wenatchee, WA
Retired Agent / Broker / Prop. Mgr, Wenatchee, WA

Hi Jan Green - Scottsdale, AZ 
Only a true professional who has been in the market can make sense of all that information. One thing I know, it would take 9 or 10 of my friends and me to pool our money to buy one of those high end homes. 🤣

Jan 21, 2024 07:00 AM
Jan Green - Scottsdale, AZ
Value Added Service, 602-620-2699 - Scottsdale, AZ
HomeSmart Elite Group, REALTOR®, EcoBroker, GREEN

You're too funny!  Prices have risen to dramatic levels so it's no wonder it would take a pool of people.  Several years ago 3 women arrived at my office and presented their idea of a "compound."  Made perfect sense to me.  A larger lot with 3 homes on it.   I couldn't show them anything due to price.  It was a great idea though.   Can you imagine the shenanigans?!  Would be a blast!

Feb 21, 2024 08:02 AM
Carol Williams

Jan Green - Scottsdale, AZ 
I had a group of Microsoft people approach me about finding land for them to build a neighborhood for their weekend getaways and retirement. I don't recall how many there were, but it seems like maybe a dozen couples. I showed them a few parcels, but nothing ever came of it.

Feb 21, 2024 08:31 AM
Jan Green - Scottsdale, AZ

Interesting Carol Williams.  Google is building here, a huge parcel, so we shall see.  A dozen couples is quite a different story!  Sounds like a 55+ community with an easy entry DOB!

Feb 21, 2024 08:44 AM
John Juarez
The Medford Real Estate Team - Fremont, CA
ePRO, SRES, GRI, PMN

Great report, Jan. It looks like Scottsdale is still an attractive area to live and demand for homes in excess of 1,000,000 is still strong.

Mar 08, 2024 07:14 AM
Jan Green - Scottsdale, AZ
Value Added Service, 602-620-2699 - Scottsdale, AZ
HomeSmart Elite Group, REALTOR®, EcoBroker, GREEN

Thank you John Juarez !  Oh yes, Scottsdale is still kicking!  Homes in the area are gaining equity as we write.   Thank you for commenting and have a wonderful weekend!

Mar 08, 2024 08:02 AM