- Quarterly Market Review -
A Review Of Key Market Differences Year over Year
2nd Quarter 2023 | 2nd Quarter 2024
SINGLE-FAMILY HOMES
99
75 New Listings
Total Sold
SINGLE-FAMILY HOMES MARKET SUMMARY | 2nd Quarter 2024
Official Market Type: Seller’s
New Inventory is up by almost 7.5% when compared to this time last year, but the buyer demand is still out pacing the supply of available inventory; offering continued conditions for a Seller’s Market.
Homes are selling at an average of 97% of asking price, same as this time last year.
It’s taking, on average, a little more than 2.5 months to sell a home in Scottsdale.
Out of the 1,155 SFD sales during Q2 2024: 465 were all Cash and 554 were closed with a Conv. loan.
2 of the sales from this quarter were categorized as distressed sales (Bank Owned, Short Sale, HUD owned, Pre-Foreclosure etc.) compared to 5, this time last year.
- Quarterly Market Review
Real Premier Team
A Note from the Team Leader...
As we move into the 3rd quarter of 2024, the Scottsdale real estate market remains strong for sellers, even with the rising temps of summertime and homes under contract at their lowest level in six years. Available inventory for sale is still historically low but trending upward toward pre-pandemic levels. Despite higher interest rates, buyer demand continues to outpace available inventory, especially in certain price points, driving property values higher. The average $/SQFT increased by nearly 8% when compared year over year, reaching $489.96 in Q2 2024, up from $454.29 in Q2 2023.
For homeowners considering selling, now is an excellent time. A proactive agent like myself can provide a custom-tailored marketing plan and strategic pricing advice to maximize your success.
I’m dedicated to supporting your real estate goals with unparalleled service and optimism. Let’s work together to make the most of these favorable conditions. Feel free to call me to discuss further.
Sincerely, Erica Anderson
