Is Scottsdale, AZ a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Scottsdale is a neutral's market

Buyer's
Market

Difference Since February 2023

At the same time last year, Scottsdale was a Seller's Market.

Key Takeaway

Scottsdale is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.

Housing Prices in Scottsdale, AZ

How much do homes in Scottsdale, AZ cost?

Median Sold Price

$804,121

$397/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

-$18,553(-2.3%)

Key Takeaway

Homes in Scottsdale have sold for 2.3% less than they did a year ago.

Summary: The median home sold price in Scottsdale was $804,121 in February 2024, down 2.3% from last year, and the median price per square foot was $397.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 $299.5K$290K
-3.2%
2 $477K$470.2K
-1.4%
3 $787.9K$769.4K
-2.4%
4 $1.1M$1.1M
-2.1%
5+ $1.8M$1.9M
+5.5%

Summary: Scottsdale housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 3.2%, 2 bedroom homes decreased by 1.4%, 3 bedroom homes decreased by 2.4%, 4 bedroom homes decreased by 2.1%, and 5+ bedroom homes increased by 5.5%.

Median Sold Price Compared To Nearby Cities

Fountain Hills
+7.8%
Scottsdale
-2.3%
Paradise Valley
-2.6%
Carefree
-13.7%

Housing Supply in Scottsdale, AZ

How many homes are available in Scottsdale, AZ?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
2,7282,987+9.5%

Summary: The Scottsdale real estate market had 2,987 homes for sale in February 2024, a 9.5% increase compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 114127
+11.4%
2 605672
+11.1%
3 870943
+8.4%
4 752820
+9.0%
5+ 387425
+9.8%

Summary: The Scottsdale housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 11.4%, 2 bedroom homes increased by 11.1%, 3 bedroom homes increased by 8.4%, 4 bedroom homes increased by 9%, and 5+ bedroom homes increased by 9.8%.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
383469+22.5%

Asking Price vs. Sold Price

326 Homes Were Sold
Under Asking

101 Homes Were Sold
At Asking

42 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Scottsdale, you may be able to get a good deal. 69.5% of homes here sold below asking price last month.

Summary: A total of 469 homes were sold or pending in Scottsdale in February 2024, up by 22.5% month-over-month. Of the 469 sold homes, 70% were sold under asking, 22% were sold at asking, and 9% were sold over asking.

Days on Market for Scottsdale, AZ

How long does it take to sell a home in Scottsdale, AZ?

Average Sale Time

Feb 2023Feb 2024CHANGE
78 Days68 Days-12.7%

Summary: Homes in Scottsdale had an average of 68 days on market in Feb 2024, down by 12.7% compared to last year.

Breakdown of Home Sale Times

178 Homes Were Sold
Under 30 Days

169 Homes Were Sold
In 30 - 90 Days

122 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Scottsdale are selling fast, if you're buying plan to act quickly.

Summary: During February 2024, 469 homes were sold in Scottsdale; 38% of homes were sold within 30 days, 36% of homes were sold within 30 to 90 days, and 26% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 1 Day Ago

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