Is Southern Scottsdale, AZ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Southern Scottsdale has remained a Seller's Market.
Housing Prices in Southern Scottsdale, AZ
How much do homes in Southern Scottsdale, AZ cost?
Median Sold Price
$558,708
$371/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Southern Scottsdale was $558,708 in May 2024, up 2.8% from last year, and the median price per square foot was $371.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $275K | $268.7K | -2.3% |
2 Bedrooms | $406.1K | $401.3K | -1.2% |
3 Bedrooms | $628.2K | $630K | 0.3% |
4 Bedrooms | $790.5K | $777.5K | -1.6% |
5+ Bedrooms | $1.0M | $1.5M | +59.8% |
Summary: Southern Scottsdale housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 2.3%, 2 bedroom homes decreased by 1.2%, 3 bedroom homes increased by 0.3%, 4 bedroom homes decreased by 1.6%, and 5+ bedroom homes increased by 59.8%.
Median Sold Price Compared To Nearby Neighborhoods
Entertainment District | $759K | $845K | +11.3% |
Downtown Scottsdale | $695K | $745K | +7.2% |
Southern Scottsdale | $543.4K | $558.7K | +2.8% |
Housing Supply in Southern Scottsdale, AZ
How many homes are available in Southern Scottsdale, AZ?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
772 | 760 | -1.6% |
Summary: The Southern Scottsdale real estate market had 760 homes for sale in May 2024, a 1.6% decrease compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 82 | 82 | 0.0% |
2 Bedrooms | 295 | 281 | -4.7% |
3 Bedrooms | 241 | 243 | +0.8% |
4 Bedrooms | 125 | 128 | +2.4% |
5+ Bedrooms | 29 | 26 | -10.3% |
Summary: The Southern Scottsdale housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 4.7%, 3 bedroom homes increased by 0.8%, 4 bedroom homes increased by 2.4%, and 5+ bedroom homes decreased by 10.3%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
187 | 162 | -13.4% |
Asking Price vs. Sold Price
115 Homes Were Sold
Under Asking
26 Homes Were Sold
At Asking
21 Homes Were Sold
Over Asking
Summary: A total of 162 homes were sold or pending in Southern Scottsdale in May 2024, down by 13.4% month-over-month. Of the 162 sold homes, 71% were sold under asking, 16% were sold at asking, and 13% were sold over asking.
Days on Market for Southern Scottsdale, AZ
How long does it take to sell a home in Southern Scottsdale, AZ?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
64 Days | 69 Days | +8.9% |
Summary: Homes in Southern Scottsdale had an average of 69 days on market in May 2024, up by 8.9% compared to last year.
Breakdown of Home Sale Times
46 Homes Were Sold
Under 30 Days
78 Homes Were Sold
In 30 - 90 Days
38 Homes Were Sold
Over 90 Days
Summary: During May 2024, 162 homes were sold in Southern Scottsdale; 28% of homes were sold within 30 days, 48% of homes were sold within 30 to 90 days, and 23% of homes were sold over 90 days.