BUDWIG TEAM REPORTS

Scottsdale, AZ 85251

Condos/Townhomes

Your Arizona Real Estate Team



Scottsdale, AZ 85251

Sun Jul 14 2024
This week the median list price for Scottsdale, AZ 85251 is $470,000 with the market action index hovering around 33. This is less than last month's market action index of 34. Inventory has decreased to 226. Click here to stay informed with the Scottsdale market!

Market Action Index

This answers “How’s the Market?” by comparing rate of sales versus inventory.

Slight Seller's Advantage

The market has been at a stasis point in terms of sales to inventory. However, prices seem to continue to fall a bit. Technically supply levels indicate this is a Seller’s market so it is likely that the downward pricing pressure will be light or variable. Watch for an up-shift in the MAI before price stability is achieved.

Scottsdale, AZ 85251

Sun Jul 14 2024
This week the median list price for Scottsdale, AZ 85251 is $470,000 with the market action index hovering around 33. This is less than last month's market action index of 34. Inventory has decreased to 226. Click here to stay informed with the Scottsdale market!

Market Action Index

This answers “How’s the Market?” by comparing rate of sales versus inventory.

Slight Seller's Advantage

The market has been at a stasis point in terms of sales to inventory. However, prices seem to continue to fall a bit. Technically supply levels indicate this is a Seller’s market so it is likely that the downward pricing pressure will be light or variable. Watch for an up-shift in the MAI before price stability is achieved.

Real-Time Market Profile

Never miss important changes in the Scottsdale market.
Median List Price $470,000
Median Price of New Listings $350,000
Per Square Foot $404
Average Days on Market 97
Median Days on Market 70
Price Decreased 50%
Price Increased 5%
Relisted 7%
Inventory 226
Median Rent
Market Action 33
Slight Seller's Advantage

Again this week we see a downward notch for prices in this zip code. Pricing has been weak recently and versus their absolute-high level. At this point, we will be looking for a persistent upward shift in the Market Action Index as a leading indicator for a trough in prices.

Market Segments

Each segment below represents approximately 25% of the market ordered by price.

Median Price Sq. Ft. Lot Size Beds Bath Age New Absorbed DOM
$1,985,000 2,197 0 - 4,500 sqft 2 3 15 1 3 112
$625,000 1,436 0 - 4,500 sqft 2 2 17 1 9 80
$396,000 1,124 0 - 4,500 sqft 2 2 52 4 6 42
$289,000 860 0 - 4,500 sqft 2 1 50 5 3 56