Scottsdale Multifamily Market Overview
Scottsdale Multifamily Market Highlights
As of May 8, 2025, the multifamily market in Scottsdale displays a mix of emerging trends with significant price adjustments and market activity shifts.
- Over the past month, the number of active listings has increased to 11, a rise from 7 three months ago, suggesting heightened market activity.
- The average list price for these active listings stands at $1,877,627, significantly higher than the average sold price of $1,650,000 for listings sold within the past 30 days, indicating a discrepancy likely affecting pending offers.
- Days on Market (DOM) have decreased to 135, compared to 196 days three months ago, indicating faster sales.
- Months of inventory currently sits at 6.6, showing a slight contraction from 7.0 months previously, suggesting that homes are selling more quickly relative to the listings available.
Curious how the Scottsdale Multifamily market has changed over time?
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Scottsdale Multifamily Market Report
An In-Depth Look at the Scottsdale Multifamily Market
The multifamily market in Scottsdale, as of May 8, 2025, showcases a transitioning landscape where both inventory and pricing reflect notable adjustments.
Currently, the number of active listings has expanded beyond the previous three-month count, increasing to 11 from 7. This change suggests a more competitive field and may indicate a growing demand from buyers, while still maintaining a substantial number of active properties.
The average list price for these active multifamily units has seen a significant rise to $1,877,627. In comparison, the average sold price over the past 30 days was recorded at $1,650,000, showcasing a considerable gap that could place homes listed at such elevated averages at a disadvantage when negotiating with potential buyers. This gap may be contributing to the visible differences seen in pending prices, which hovered higher when compared to their final sale counterparts.
Interestingly, the average Days on Market (DOM) for actively listed properties has decreased to 135 days, a notable decline from the previous average of 196 days three months ago. This decrease signals a positive shift towards quicker sales, pointing to potentially stronger buyer interest or adjustments in pricing strategies from sellers, allowing properties to move more expeditiously through the market.
Moreover, the months of inventory has also contracted slightly to 6.6 from 7.0 over the last quarter, denoting that while the number of active listings is indeed higher, the sales rate has also improved, reducing the overall inventory period. A market with this level of inventory suggests an equilibrium between supply and demand; however, the current selling price to original list price ratio is at 88%, indicating sellers may still need to adjust their pricing strategies to attract buyers quickly amidst these conditions.
All in all, the Scottsdale multifamily market is exhibiting signs of an evolving dynamic, where increased inventory and competitive pricing pressures are starting to influence seller practices and buyer behavior alike. Well-informed strategies in pricing, marketing, and negotiation could prove advantageous for stakeholders navigating this changing landscape.
Brian Adamski, Realtor
Phoenix Resident Since 2003 | Turning Uncertainty into Peace of Mind
480-405-1265
