BUDWIG TEAM REPORTS

Scottsdale, AZ 85251

Condos/Townhomes

Your Arizona Real Estate Team


Scottsdale, AZ 85251

Fri Jul 26 2024
This week the median list price for Scottsdale, AZ 85251 is $445,000 with the market action index hovering around 33. This is about the same as last month's market action index of 33. Inventory has decreased to 231. 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 cooling off a bit in recent weeks, as more homes are available and demand is less. We’ll be looking for a persistent downward trend. If we see a persistent trend, especially if the MAI falls from the Seller’s Market zone to the Buyer’s Market zone, expect downward pressure on prices. There is already some evidence prices moving lower.

Scottsdale, AZ 85251

Fri Jul 26 2024
This week the median list price for Scottsdale, AZ 85251 is $445,000 with the market action index hovering around 33. This is about the same as last month's market action index of 33. Inventory has decreased to 231. 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 cooling off a bit in recent weeks, as more homes are available and demand is less. We’ll be looking for a persistent downward trend. If we see a persistent trend, especially if the MAI falls from the Seller’s Market zone to the Buyer’s Market zone, expect downward pressure on prices. There is already some evidence prices moving lower.

Real-Time Market Profile

Never miss important changes in the Scottsdale market.
Median List Price $445,000
Median Price of New Listings $399,999
Per Square Foot $399
Average Days on Market 105
Median Days on Market 77
Price Decreased 51%
Price Increased 5%
Relisted 8%
Inventory 231
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
$1,850,000 2,222 0 - 4,500 sqft 2 3 15 5 2 126
$589,000 1,425 0 - 4,500 sqft 2 2 17 5 6 77
$392,750 1,120 0 - 4,500 sqft 2 2 52 8 4 49
$289,500 863 0 - 4,500 sqft 2 1 50 7 7 70