Scottsdale Market Trends
Maricopa County Market Trends
The overall prices of homes in Scottsdale and Phoenix are softening as interest rates rise. The inventory of homes for sale is also rising which gives Buyers more options to choose from. It is becoming a more balanced market between Buyers and Sellers in 2022. In the third quarter of 2022, the median sales price for homes in Maricopa County is up 10.7 percent from last year, and the average sales price is up 11.2 percent.
For more information on current market trends in Phoenix and Scottsdale contact Carmen Brodeur at Carmen@TopScottsdaleHomes.com, or check out recent articles below.
Local Inventory Continues to Rebound, Says Phoenix REALTORS
By Emily Marek, Phoenix Agent Magazine, March 15, 2023
There were several key improvements in the Phoenix real estate market from January to February, according to the latest Phoenix REALTORS® report.
Closings increased by 31.7% month over month, with 5,341 home sales completed in February. Additionally, the average sales price edged up from $539,617 to $544,906.
“We are seeing some improvements in month-over-month numbers from January to February of this year, which is important given the numbers we saw as we closed out 2022,” said Phoenix REALTORS® President Butch Leiber. “Inventory is higher than at any time in the last four years, giving buyers more homes to choose from. However, since demand has also fallen, days of inventory has stayed steady since the first of the year.”
Metro Phoenix Home Prices Rising Again; Market Crash Forecast Debunked
By Catherine Reagor, Arizona Republic, March 3, 2023
Metro Phoenix home prices are expected to climb after sliding since late summer.
Already, most cities in the Valley have shifted back toward seller’s markets.
An uptick in home prices was expected because big events, including the Super Bowl and Phoenix Open, drew visitors and potential homebuyers to the area in February.
Metro Phoenix Home Listings, Average Sales Price Increase in January
AZ Business Magazine, March 3, 2023
January delivered a strong start to the year, offsetting a slouching December, according to a report released by Phoenix REALTORS. Analyzing the latest ARMLS data, there were 6,848 new Metro Phoenix home listings hitting the market, compared to 4,105 in December. As well, average sale prices rose in January from December and sat at $539,617, which was up by nearly $4,000.
What is Phoenix Telling Us About the Spring Market
By Tim Sullivan, Builder Online, March 3, 2023
The city’s new-home market is showing signs of life, much like other cities across the United States. It’s nowhere near the frenzied market that came to symbolize the pandemic housing boom, but, if we’re hunting for green shoots, the city could be a good place to start looking.
Don’t take it from me. Take it from the almost 700 people who attended our Phoenix Dealmakers event in late February. Hundreds of professionals gathered to share their wisdom with one another, and to figure out if we’re right to feel a bit optimistic as we head into spring.
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.