Scottsdale AZ Real Estate Housing Market Report - April 2023
After decreasing last month, the average sales price of Scottsdale homes saw an increase this month, going from $1,346,171 in March, to $1,392,839 in April. The average sales price of Scottsdale homes has fluctuated up and down every other month so far this year.
After decreasing last month, the average price of Scottsdale homes per square foot has increased this month, going from $436/sf in March to $445/sf in April. The average sold price per square foot in Scottsdale has only increased in 3 out of the last 10 months.
After remaining exactly the same in February and March, Scottsdale days on market decreased in April, going from 77 DOM last month to 71 DOM this month. Inventory remains low, reducing the number of homes sold.
After decreasing last month, the average price of Scottsdale homes per square foot has increased this month, going from $436/sf in March to $445/sf in April. The average sold price per square foot in Scottsdale has only increased in 3 out of the last 10 months.
After remaining exactly the same in February and March, Scottsdale days on market decreased in April, going from 77 DOM last month to 71 DOM this month. Inventory remains low, reducing the number of homes sold.
After increasing the last 2 months, Scottsdale home sales have decreased this month. Scottsdale home sales have gone from 425 in March to 323 in April. Scottsdale home sales are now -34.2% lower than they were in April of 2022.
The number of new Scottsdale listings has decreased this month after slightly increasing last month. New Scottsdale listings went from 497 in March to 479 this month. This is usually the time of year we see an increase in new listings as we are in the busy housing market season. With this decrease new listings this month are lower than the number of new Scottsdale listings last April by -31.7%.
The number of active Scottsdale listings has decreased for the second month in a row, going from 1,461 in February to 1,407 in April. Active Scottsdale listings have remained fairly steady since July of 2022, and are now 71.8% higher than in April of last year.
Listings are still low overall and continue to drive demand. Many Scottsdale homeowners do not want to list their homes and give up those low mortgage interest rates for today's rates. Home sales and inventory in Scottsdale are still low compared to a balanced market.
Median home values in Scottsdale have decreased an average of -7.7% since April of 2022. With interest rates hovering around 6.25%, the number of buyers looking to purchase Scottsdale homes should be a little higher than the number of sellers this spring.
The number of new Scottsdale listings has decreased this month after slightly increasing last month. New Scottsdale listings went from 497 in March to 479 this month. This is usually the time of year we see an increase in new listings as we are in the busy housing market season. With this decrease new listings this month are lower than the number of new Scottsdale listings last April by -31.7%.
The number of active Scottsdale listings has decreased for the second month in a row, going from 1,461 in February to 1,407 in April. Active Scottsdale listings have remained fairly steady since July of 2022, and are now 71.8% higher than in April of last year.
Listings are still low overall and continue to drive demand. Many Scottsdale homeowners do not want to list their homes and give up those low mortgage interest rates for today's rates. Home sales and inventory in Scottsdale are still low compared to a balanced market.
Median home values in Scottsdale have decreased an average of -7.7% since April of 2022. With interest rates hovering around 6.25%, the number of buyers looking to purchase Scottsdale homes should be a little higher than the number of sellers this spring.
For more detailed stats on the Scottsdale Housing Market, just click on the image below. Then call/text me when you are ready to buy or sell your next home.
If you’re considering selling your house, let my expertise guide you through the process to ensure a smooth transaction while navigating today's housing market.
If you're thinking of buying a home, connect with me to begin your journey to homeownership.
Whether you're ready to buy, sell (or both), or invest in East Valley real estate, reach out to me today so we can put your plans into motion. Being a trusted real estate professional, I can answer your questions and help you determine your next steps.
If you're thinking of buying a home, connect with me to begin your journey to homeownership.
Whether you're ready to buy, sell (or both), or invest in East Valley real estate, reach out to me today so we can put your plans into motion. Being a trusted real estate professional, I can answer your questions and help you determine your next steps.
Feel free to reach out to me if you have any questions about home buying, selling, or investing in the Phoenix Metro or East Valley areas. Just give me a call or text at 602-295-6807 and I will be glad to help.
"Real Estate is not just a job for me, it's about making a difference in the lives of others."
Serving East Valley cities, including Chandler, Gilbert, Tempe, Mesa, Phoenix, Scottsdale, and Ahwatukee
Troy Erickson Realtor | 3175 W. Stephens Place, Chandler, AZ 85226 | 602-295-6807 | [email protected]
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Troy Erickson has been blogging about Arizona real estate since 2006. He is a residential real estate agent who specializes in helping home buyers, sellers, and investors in Chandler and the East Valley. He has been recognized for his local market expertise, and frequently volunteers within his community.
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