First Arizona Title's Market Report
Scottsdale, AZ
Single-Family Homes
First Arizona Title Agency | (480) 385-6500 | www.FirstAZTitle.com
Scottsdale, AZ
Tue Mar 28 2023
This week the median list price for Scottsdale, AZ is $1,375,000 with the market action index hovering around 37. This is about the same as last month's market action index of 37. Inventory has decreased to 924.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Slight Seller's Advantage
The market continues to get hotter. More sales demand and fewer homes listed have contributed to a relatively long run of increasing prices. Current supply and demand levels show no sign of prices changing from their current trend.
Real-Time Market Profile
| Median List Price | $1,375,000 | |
| Median Price of New Listings | $1,274,500 | |
| Per Square Foot | $464 | |
| Average Days on Market | 95 | |
| Median Days on Market | 56 | |
| Price Decreased | 50% | |
| Price Increased | 2% | |
| Relisted | 6% | |
| Inventory | 924 | |
| Median Rent | ||
| Market Action | 37 | |
| Slight Seller's Advantage | ||
Prices continue their climb again this week. We’re a long way from the market’s price high-point so watch the Market Action Index as an indicator of how long this trend will last.
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 |
|---|---|---|---|---|---|---|---|---|
| $3,500,000 | 5,452 | 0.5 - 1 acre | 5 | 5 | 18 | 22 | 18 | 70 |
| $1,715,000 | 3,600 | 0.25 - 0.5 acre | 4 | 3.5 | 26 | 24 | 24 | 49 |
| $1,100,000 | 2,664 | 8,000 - 10,000 sqft | 4 | 2.5 | 30 | 20 | 24 | 56 |
| $750,000 | 1,958 | 6,500 - 8,000 sqft | 3 | 2 | 36 | 34 | 22 | 49 |