AS OF : 4/1/2024
As a real estate enthusiast and Scottsdale resident, I'm constantly intrigued by the ebb and flow of our local housing market. In recent weeks, I've observed some interesting trends that shed light on the current state of affairs in our community.
One aspect that stands out is the delicate balance between supply and demand. While the market has achieved a relative stasis point in terms of sales to inventory, the inventory levels themselves remain sufficiently low to keep us firmly within the Seller's Market zone.
This means that sellers hold the upper hand, with buyers needing to act swiftly and decisively to secure their dream home.
Let's dive into some key metrics that paint a vivid picture of our real estate landscape:
Real-Time Market Profile
Median List Price: $1,575,000
Median Price of New Listings: $1,185,000
Price Per Square Foot: $508
Median Days on Market: 56
Inventory: 1,280 SINGLE FAMILY HOMES
Median Rent: $4,500
Market Action: 37 (Slight Seller's Advantage)
In this landscape of opportunity and challenge, it's essential for both buyers and sellers to stay informed and proactive. Whether you're a first-time homebuyer eager to plant roots in our vibrant community or a seasoned seller looking to capitalize on favorable market conditions, understanding these metrics can empower you to make informed decisions.
As we navigate the twists and turns of the Scottsdale real estate market together, I'll continue to provide insights and updates to help you stay ahead of the curve. Remember, in the world of real estate, knowledge is key, and I'm here to be your trusted guide every step of the way.
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