Scottsdale, AZ
Real Estate

An In-Depth Look at Scottsdale Condos

The Scottsdale condo/townhome market reveals several key metrics that provide insight into the current climate.

• Active Listings: The number of active listings has expanded significantly, rising to 1,272 over the past month, which marks a noteworthy increase from 908 three months ago. This surge in inventory indicates a widening selection of properties for potential buyers, enhancing competition among sellers.
• Sold Prices: Recently sold listings now average $711,867, a substantial uptick from an average of $620,989 three months prior. This increase in sold prices suggests that buyers are willing to pay more for properties, indicating strong demand in the market.
• Days on Market (DOM): The average DOM for sold properties stands at 68 days. While this marks a slight uptick in selling duration from the 67 days noted three months ago, it's reflective of a market that is still relatively stable. Homes are selling about as quickly as they were, although an increase in DOM could hint at slight buyer hesitation or a need for adjustments in pricing strategies by sellers.
• Months of Inventory: The months of inventory remain at 6.3, which is consistent with a balanced market. This level suggests there are enough homes to meet buyer demand without overwhelming the market. Historically, this metric indicates stability, as it has not strayed far from the typical range observed over the last few months.
• The numbers also showcase a year-over-year perspective: comparing to last March, when the average sold price was $653,810, today's prices reflect a healthier market buoyed by improved buyer confidence and a more robust economy.

In conclusion, the Scottsdale condo/townhome market presents a mix of growing inventory and rising prices, leading to a balanced market where both buyers and sellers need to be alert to changes as conditions evolve. Sellers may find increased competition due to new listings, while buyers should feel empowered by the wider selection and competitive prices.

An In-Depth Look at Scottsdale Land

In this current landscape, the Scottsdale land market shows intriguing trends worth exploring for both buyers and sellers.

• Active Listings: Currently, there are 240 active listings, down from 208 three months ago. This trend indicates a tightening in available options for buyers, even as listings have more than doubled when compared to the 171 recorded six months ago.
• Days on Market (DOM): The average DOM has significantly increased to 279 days, highlighting a prolonged sales cycle. This extended period is almost a 14% improvement from 324 days just three months ago and reflects a stark contrast to the 405 days seen six months ago. Such a long DOM suggests a transition towards a more balanced market, where buyers may feel less pressure to act quickly.
• Sold Prices: Since the start of this year, the average sold price has fallen to $586,617, a notable decrease from $694,068 just three months prior. This 15% drop may signal a market correction as sellers adjust their expectations amid shifting demand. Over the past month, the sold price has also decreased from an average of $601,583, further indicating a softening in pricing dynamics.
• Months of Inventory: The market currently reflects 16.4 months of inventory, maintaining the same figure observed over the past three months but showing growth from 14.3 months six months ago. These figures indicate that, while demand may still exist, supply is outpacing it, providing buyers greater negotiation leverage.

For sellers, the extended DOM suggests it may be prudent to consider adjusting listing prices or enhancing property appeal to expedite sales. Meanwhile, buyers can leverage current market conditions by negotiating offers below asking prices due to the increasing inventory and declining trends in sold prices. While opportunities abound, awareness of these metrics will serve to enhance decision-making when navigating the Scottsdale land market.

An In-Depth Look at Scottsdale Multifamily Dwellings

The multifamily property market in Scottsdale, as of March 16, 2025, presents a mixed bag of trends that highlight ongoing adjustments among buyers and sellers. Currently, active listings remain consistent at 10, reflecting a steady supply that hasn't changed significantly in recent months. The average sold price for properties over the past 30 days now sits at $1,125,000, a notable decrease from the $1,150,000 recorded three months ago.

When examining days on market (DOM), we see that properties that have sold recently took a longer time to close, averaging 120 days, compared to 72 days three months ago. This trend suggests that while properties are still selling, they may not be moving as quickly, indicating a potential cool-down period in buyer activity. Such an increase in DOM can signify that buyers are taking more time deliberating before making a purchase, contributing to a more balanced market where negotiations may be more favorable for buyers.

Looking at the months of inventory, the current figure stands at 6.7 months, an improvement from 10.0 months three months ago but still indicative of a balanced market. This level indicates that while supply has adjusted, it remains sufficient enough to give buyers negotiation power, alleviating previous tighter inventory conditions.

Moreover, the average price per square foot for active listings has climbed to $558, up from $508 three months ago. This increase in price per square foot suggests that while sold prices are declining, active market pricing remains resilient, possibly due to location desirability and ongoing demand among buyers willing to invest in multifamily properties.

With the inventory and DOM trends indicating a currently stable environment, both buyers and sellers should strategically approach the market, utilizing insights from these metrics to inform their decisions. As we move forward, monitoring these shifts will be essential for navigating the Scottsdale multifamily landscape effectively.