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Scottsdale Market update - Home Sales

Writer's picture: JTodd SimpsonJTodd Simpson

It's 105* outside - how has it effected the Scottsdale Real Estate market?


Scottsdale Real Estate Market
Kierland and Scottsdale Quarter

Title: Navigating the Scottsdale Real Estate Market: Insights for Homeowners and Investors


For homeowners and investors alike, understanding the intricacies of the Scottsdale market is essential for making informed decisions. Let's delve into the latest #trends and insights, alongside valuable tips for those considering selling their home or looking to purchase here in the Valley


Market Highlights:

Median List Price:

Scottsdale's real estate market boasts a median list price of $1,575,000, reflecting the enduring allure and value of properties within this vibrant city. This price hold steady from last month.


Median Price of New Listings:

Despite new listings entering the market, the median sales price remains robust at $1,395,000, offering consistency and stability for both buyers and sellers. Although the price has decreased slightly, the lasck of current inventory holds prices steady.


Average Per Square Foot for Single-Family Homes:

At $500 per square foot, Scottsdale's single-family homes are holding steady. As #Arizona and its real estate market continues to grow and attract new busineesses and jobs, home prices are holding steady. Next month is the "slow" month in Az - lets see what prices do!


Median Days on Market:

With properties spending a mere 63 days on the market, sellers in Scottsdale benefit from swift turnover, underscoring the efficiency and effectiveness of the local real estate landscape. With only 1,200 #homes for sale, and 360 under contract, Scottsdlae is holding steady at under 82 days of inventory. Still a strong market.


Price Decreased Up 52%:

While the market thrives, a 52% increase in price decreases signals flexibility, presenting opportunities for negotiation and ensuring a fair and dynamic marketplace. People who are realistic about the value of thier home, will sell. Listen to your Agent - they have the data and will guide you accordingly.


Inventory of Single-Family Homes:

Scottsdale offers a diverse inventory of 1,242 single-family homes, catering to every preference and lifestyle, from expansive estates to cozy desert retreats.


Median Rent:

For those not ready to commit to ownership, Scottsdale's rental market provides an accessible entry point, with a median rent of $4,500, offering a taste of desert luxury without the immediate responsibilities of ownership.


Recent Sales Insights:


Real Estate Market continues to stay strong
Old Town Scottsdale

**Highest Priced Home to Close in Last 30 Days:**

The Scottsdale market recently witnessed a record-breaking sale, with the highest priced home closing at an impressive $10,500,000, exemplifying the luxury and prestige synonymous with Scottsdale living.


Highest Price Per Square Foot:

At $1,345.00 per square foot, Scottsdale sets the bar high for premium real estate, showcasing the value and desirability of properties within this thriving market.


Homes Sold and Closed in Last 30 Days:

In the past month alone, 372 homes have been sold and closed in Scottsdale, illustrating the robust activity and demand within the local real estate landscape.


#Tips for Home Sellers:


Stunning photos make your home look attractive to Buyers.
Home Staging - Presentation

1. **Prepare Your Home:** Invest in staging and minor repairs to enhance your home's appeal and maximize its value in the market.


2. **Price Strategically:** Work with a knowledgeable real estate agent to set a competitive yet realistic price that reflects the current market conditions and the unique features of your property.


3. **Highlight Your Home's Unique Features:** Whether it's breathtaking mountain views, a gourmet kitchen, or a serene backyard oasis, emphasize what sets your home apart from the rest.


4. **Market Effectively:** Leverage both traditional and digital marketing channels to reach a wide audience of potential buyers, showcasing your home's beauty and potential.


5. **Be Flexible:** In a dynamic market like Scottsdale, flexibility is key. Be open to negotiations and consider all reasonable offers to ensure a smooth and successful transaction.


The Scottsdale real estate market continues to thrive, offering unparalleled opportunities for homeowners and investors alike. By staying informed about market trends, leveraging recent insights, and adopting strategic selling approaches, sellers can navigate the Scottsdale market with confidence and achieve their real estate goals in this desert paradise.

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