Scottsdale Market Trends
Maricopa County Market Trends
For more information on current market trends in Phoenix and Scottsdale contact Carmen Brodeur at Carmen@TopScottsdaleHomes.com, or check out recent articles below.
Median Listing Price for Metro Phoenix Homes Tops $500,000 for 1st Time
AZ Business Magazine, April 6, 2022
The median listing price for a home in Metro Phoenix topped $500,000 for the first time, nearly $100,000 more than the national average for home prices.
Nationally, home prices hit $405,000 for the first time ever in March, but data reveals there is some hope on the horizon for pandemic-era buyers. With demand beginning to moderate as some home shoppers are priced out of the market and new construction at near 16-year highs, inventory is expected to hit positive territory year-over-year this summer, according to the Realtor.com Monthly Housing Trends Report released today.
Experts Predict at Least Two More Years Before Housing Inventory Climbs to Pre-Pandemic Levels
By Jeff Tucker, Zillow, March 24, 2022
The housing market is expected to return to pre-pandemic, 2019 norms — at least in terms of inventory and the share of purchases made by first-time homebuyers — by 2024, according to a panel of housing market experts polled in the latest Zillow® Home Price Expectations Survey,
The dwindling supply of homes for sale has been a proximate cause of the recent explosion in U.S. home values, which have risen by 32% in the past two years. Total inventory has fallen from a monthly average of 1.6 million units in 2018 and 2019 to just over 1 million in 2021, and monthly figures in 2022 are lower still.
Metro Phoenix Leads U.S. with 28.5% Increase in Median Sales Price
AZ Business Magazine, February 25, 2022
January home sales dropped 31.4% from December’s total – a decrease slightly more than the seasonal norm – as inventory shrank for the sixth consecutive month, according to RE/MAX. Year over year, sales were down 5.3% from January 2021. Most relevant to Metro Phoenix residents: The region led the nation with the biggest increase in median sales price for homes.
A December-to-January decline in home sales is typical and expected. In the past five years (2017-2021), the average drop in home sales between the two months was 28.0%.
Phoenix Home Values Jump 30.7% Over Past Year
AZ Business Magazine, February 22, 2022
Homebuyers face another challenging shopping season to navigate, as Zillow’s latest monthly report reveals record-breaking low inventory and unprecedented price growth, including Phoenix, which saw home values skyrocket 30.7% over the past year.
Stay informed on the latest Scottsdale AZ real estate market trends by bookmarking this page. The real estate trends in Phoenix and Scottsdale are completely different than the national trends. This page is updated frequently to keep you informed on the changes in the market. Research the latest Scottsdale real estate market trends and housing statistics right here. We want all of our clients to have access to the most current Scottsdale real estate stats and trends.
Please call Carmen Brodeur at (602) 791-0536 with any questions.
Voted in the Top 3 Realtors in Arizona, by the readers of Ranking Arizona Magazine, 2015-2022. Her background as an Attorney gives her special expertise with contracts and negotiations. Carmen has a proven track record of success with buyers and sellers in Scottsdale.
