Tue May 18 2021
This week the median list price for Scottsdale, AZ is $1,550,000 with the market action index hovering around 64. This is about the same as last month's market action index of 64. Inventory has increased to 491.
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
|Median List Price||$1,550,000|
|Median Price of New Listings||$930,000|
|Per Square Foot||$405|
|Average Days on Market||72|
|Median Days on Market||21|
|Strong Seller's Market|
Despite this week’s down tic, the market seems to have paused around this plateau. The Market Action Index is a good leading indicator for the durability of this shift.
Each segment below represents approximately 25% of the market ordered by price.
|Median Price||Sq. Ft.||Lot Size||Beds||Bath||Age||New||Absorbed||DOM|
|$4,387,500||6,603||1 - 2.5 acres||5||5||14||7||7||70|
|$2,100,000||4,448||0.5 - 1 acre||4||4||19||20||18||42|
|$1,100,000||3,200||0.25 - 0.5 acre||4||3||24||41||33||14|
|$650,000||2,004||6,500 - 8,000 sqft||3||2||34||54||48||7|