Scottsdale Condos Market Overview
Scottsdale Condos Market Highlights
As of May 8, 2025, the condo/townhome/patio home market in Scottsdale shows notable fluctuations that would greatly interest both buyers and sellers.
- Active listings have risen sharply over the past month to 1,243, indicating a growing supply.
- The average sold price has decreased to $667,963, down approximately 27% compared to three months ago.
- Days on the market for sold properties stand at 71, suggesting a moderately active selling environment.
- Months of inventory increased to 5.1, reflecting a more balanced market dynamic.
Curious how the Scottsdale Condos market has changed over time?
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Scottsdale Condos Market Report
An In-Depth Look at the Scottsdale Condos Market
In the Scottsdale condo/townhome/patio home sector, as of May 8, 2025, the real estate landscape is revealing compelling insights. Current data shows that the number of active listings has expanded significantly over the past month, now sitting at 1,243, compared to 1,031 just three months ago. This steep incline in supply invites opportunities for potential buyers, especially those looking for an extensive selection of properties.
The average sold price for homes has seen a considerable decline, now at $667,963, reflecting a 27% decrease from the approximately $919,113 observed three months ago. This substantial shift may suggest that the market has become more favorable for buyers, allowing them to negotiate more effectively on offers.
Additionally, the average Days on Market (DOM) for sold listings has stabilized at 71 days, indicating that properties are selling at a more moderate pace than before. Buyers should be prepared for competition as listings that are well-priced may sell quickly, even in this varied pricing environment.
The months of inventory metric has risen to 5.1, illustrating a relatively balanced market as it stands above the four-month threshold that typically favors sellers. A months-of-inventory figure above six is indicative of a buyer's market where inventory significantly exceeds demand, while a level near this range suggests that buyers have choices but may not be under intense pressure from rising prices. Overall, the current market conditions show an interesting dynamic influenced by increased inventory and price adjustments.
In conclusion, both buyers and sellers should navigate this evolving landscape carefully. Buyers may find advantageous pricing conditions, while sellers should strategically position their listings to attract potential buyers amidst growing competition. Understanding these metrics is crucial for making informed decisions in the Scottsdale condo/townhome/patio home market.
Brian Adamski, Realtor
Top 3% in Arizona | Friendly. Sharp. Proven.
480-405-1265
