This month we are going to add in some pertinent info about the Scottsdale market. Let’s dive into our July 2018 Phoenix/Scottsdale real estate market update. First, we’ll look at overall numbers for the Phoenix metro area.
Currently there are 15804 active listings across the county–similar number to last month and a low figure overall. The average days on market (DOM) for the active inventory is 104. There are 10165 pending listings and since July 1, 2018, there have been 7815 sales–the average DOM for the sales was just 59 (an improvement from the previous month) and the average sale price was $321,156.
The graph below shows Market Activity for the whole county year-to-date:
This graph shows how the Median Sale Price has changed year-to-date:
Now on to our Scottsdale market update.
Currently there are 2076 active properties for sale in Scottsdale–of those, the average DOM is 157 and the average list price per square foot is $295. There are 920 properties under contract and since July 1, 2018 there have been 678 sales with an average DOM of 99 days.
The graph below shows the Median Sold Price in Scottsdale versus the entire Phoenix metro area year-to-date:
This graph shows how the Average Days on Market has changed in Scottsdale versus the Phoenix metro area:
The average sale price in Scottsdale since July 1 is approximately $548,000 with a list to sale price ratio of .97% and an average square footage of 2200. There are 42 distressed property listings in Scottsdale which equates to about 2% of the total listing inventory. Since the Scottsdale economy is largely driven by tourism, real estate activity naturally declines in the summer months. August and September will likely be slow moving with activity picking up in mid to late October. View all active Scottsdale listings.
If you have a question about Scottsdale or any other city/town in Maricopa County, contact us –we’d be honored to help. We hope you’ve enjoyed this market update. Check out or blog for past articles or our Scottsdale real estate map to search by area.