Scottsdale AZ Real Estate Housing Market Report - June 2023
After decreasing in March, the average sales price of Scottsdale homes has increased for the 3rd month in a row, going from $1,346,089 in March, to $1,497,530 in June. This is the first time this year that the average sales price of Scottsdale homes has increased 3 straight months and is now just a few thousand dollars from the all-time high of $1,499,763 it reached in June of 2022.
The average price of Scottsdale homes per square foot has also increased for the 3rd straight month, going from $436/sf in March to $457/sf in June. The average sold price per square foot in Scottsdale has increased in 4 out of the last 5 months.
After decreasing two months in a row, Scottsdale days on market has increased this month, going from 66 DOM in May to 69 DOM this month. Inventory remains low, reducing the number of homes sold.
The average price of Scottsdale homes per square foot has also increased for the 3rd straight month, going from $436/sf in March to $457/sf in June. The average sold price per square foot in Scottsdale has increased in 4 out of the last 5 months.
After decreasing two months in a row, Scottsdale days on market has increased this month, going from 66 DOM in May to 69 DOM this month. Inventory remains low, reducing the number of homes sold.
After increasing last month, Scottsdale home sales have seen a slight decrease this month. Scottsdale home sales have gone from 457 in May to 450 in June. Scottsdale home sales are now 6.7% greater than they were in June of 2022. This is the first time home sales in Scottsdale were greater than the same month last year since June of 2021.
The number of new Scottsdale listings has slightly decreased for the 3rd straight month after slightly increasing in March. New Scottsdale listings went from 498 in March to 432 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 June by -39.3%.
The number of active Scottsdale listings has decreased for the second straight month after slightly increasing in April, going from 1,423 in April to 1,233 in June. Active Scottsdale listings have remained fairly steady since July of 2022, and are now 1.1% higher than in June 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 a little low compared to a balanced market.
Median home values in Scottsdale have decreased an average of -4.3% since June of 2022. With interest rates hovering around 6.7%, 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 slightly decreased for the 3rd straight month after slightly increasing in March. New Scottsdale listings went from 498 in March to 432 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 June by -39.3%.
The number of active Scottsdale listings has decreased for the second straight month after slightly increasing in April, going from 1,423 in April to 1,233 in June. Active Scottsdale listings have remained fairly steady since July of 2022, and are now 1.1% higher than in June 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 a little low compared to a balanced market.
Median home values in Scottsdale have decreased an average of -4.3% since June of 2022. With interest rates hovering around 6.7%, 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.
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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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