A Timely Analysis

Hello again. WLH here! We’re back with a Scottsdale real estate update. In recent months, we’ve informed you about the latest in Scottsdale communities, such as Silverleaf and Optima Kierland. Today, we look at year-over-year stats for the entire Scottsdale real estate market. Before we get started, we point to point out how much work we put into our content. Of course we use AI, but not like most others. At WLH, we have our own IN-HOUSE AI department. And we love having the ability to get granular as need be. Having said that, we hope you enjoy.

A Surprising Shift In Listings

Let’s address the current status of active listings in Scottsdale.

• Listings have reduced by 10.6% compared to last year
• A decrease during the expected summer listing period
• Seasonal patterns result in a unique buyer’s advantage

Despite prevailing talks of a summer inventory increase, the actual decrease is part of an annual trend we’ve observed.

Year-Over-Year Inventory Comparison

The inventory change needs a timestamp for clarity.

• Inventory is down approx. 10.6% year-over-year
• A decline instead of the anticipated summer bump
• Seasonal habits shape this unexpected trend

Contrary to the forecasted rise, the decrease in active listings is in line with our yearly observations around this time.

Also Read: Quick Statistical Snapshot Of Scottsdale’s Real Estate Market

Scottsdale Inventory Is Down Approx. 10.6% Year-Over-Year

Interest Rates

Interest rates are a pivotal aspect of the market.

• Interest rates have increased slightly from last year
• Rates hovered around 7% last year, now near 8%
• Well-qualified buyers are securing rates below 6.5%

Rates have indeed risen from the same period last year, but astute buyers are still locking in favorable rates.

Price Per Square Foot Trends

The median price per square foot tells its own story.

• An increase of 3.1% since last year
• Suggests a return to standard yearly appreciation
• Scottsdale’s median price per square foot is now $455

After a brief downturn last year, the market is experiencing a steady climb back to its usual appreciation rates.

Current Inventory Supply

Understanding the supply levels can give us foresight into the market direction.

• Inventory supply has decreased by 8.4% from last year
• Scottsdale currently sits at 3.97 months of supply
• This indicates a seller’s market, but not a frantic one

The current supply level indicates a seller’s market, though it does not suggest an overly competitive environment.

Days On Market Comparison

The time homes spend on the market can reveal much about buyer behavior.

• Median days on market have decreased by 16.3% since last year
• Homes are now selling in about 41 days, compared to 49 days before
• This quickened pace is still twice as fast as a normal stable market

The decrease in days on market from the previous year highlights a faster-moving market. With that said, inventory has been rising across ‘The Valley’.

Also Read: Analysis Of SFR Listings In Silverleaf – June 2022 VS Nov. 2023

Scottsdale Is One Of The More Stables Markets In Greater Phoenix

Market Segmentation & Price Ranges

Examining the market by price ranges offers tailored insights.

• The sub-$300k market is particularly active
• Up to $700k, the market is favoring sellers
• Above $700k, the buying and selling dynamics level out

Each price bracket interacts differently with the market forces, presenting unique challenges. And opportunities! 

LUXE BLOG Recap

Here’s a quick roundup of the essential points from our latest Scottsdale real estate analysis:

• Listings Down Year-over-Year: A decrease of 10.6%
• Seasonal Trends: Summer and holiday seasons affect listing numbers
• Interest Rates: Slight annual increase, with favorable rates for the qualified
• Price Per Square Foot: Up 3.1% from last year, indicating healthy appreciation
• Inventory Supply: Down by 8.4%, with a 3.97-month supply suggesting a seller’s market
• Days on Market: Homes are selling faster, with a 16.3% decrease in days on market
• Market Segments: Active markets vary by price range, with notable activity under $300k

Our in-depth look provides clarity on the current market trends, emphasizing how each segment offers distinct opportunities and challenges

Wrapping Up With WLH

As we conclude, remember that Williams Luxury Homes is deeply embedded in the Scottsdale market. For us? Real estate is a passion. Every member of our boutique brokerage is HAND PICKED. We have a certain way of doing business, and we are selective with whom we bring on board. We 

• Proficient in the upscale real estate of Greater Phoenix
• Many of us at WLH live in Scottsdale, Arizona
• We’re dedicated to providing “A Luxury Experience For Everyone”
• We are NOT status quo
• We have MUCH experience representing CEOs, celebrities, and high-expectation clientele
• The market is something we analyze daily

Eager to stay updated with Scottsdale real estate? Please keep checking back. Here on LUXE BLOG, we post an INCREDIBLE amount of helpful, relevant content. From AI-crunched stats to new listings and MUCH other good stuff, our content will empower you. Like we said earlier, real estate is our passion. And when you love something, it becomes your mission to help others. At least that’s how we see it. See you next time.

Also Read: Comps And The Latest Data For Optima Camelview Village