Roger Banning Market Trends Real Estate Report - Phoenix/Scottsdale, AZ
Scottsdale, AZ
Single-Family Homes
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Scottsdale, AZ
Fri Sep 06 2024
This week the median list price for Scottsdale, AZ is $1,350,000 with the market action index hovering around 36. This is less than last month's market action index of 37. Inventory has held steady at or around 1,041.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Slight Seller's Advantage
Market Narrative
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.
Real-Time Market Profile
| Median List Price | $1,350,000 | |
| Median Price of New Listings | $1,200,000 | |
| Per Square Foot | $483 | |
| Average Days on Market | 106 | |
| Median Days on Market | 77 | |
| Price Decreased | 47% | |
| Price Increased | 3% | |
| Relisted | 8% | |
| Inventory | 1,041 | |
| Median Rent | ||
| Market Action | 36 | |
| Slight Seller's Advantage | ||
Again this week we see a downward notch for prices. Pricing has been weak in recent weeks and versus their absolute-high levels. The Market Action Index is a good leading indicator for the durability of this trend.
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 |
|---|---|---|---|---|---|---|---|---|
| $3,624,997 | 5,063 | 0.5 - 1 acre | 4 | 5 | 17 | 12 | 9 | 126 |
| $1,699,450 | 3,431 | 0.25 - 0.5 acre | 4 | 4 | 26 | 22 | 23 | 70 |
| $1,090,000 | 2,443 | 8,000 - 10,000 sqft | 4 | 3 | 35 | 25 | 26 | 63 |
| $745,000 | 1,802 | 6,500 - 8,000 sqft | 3 | 2 | 41 | 24 | 33 | 49 |