Real Premier Team - real estate -
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Scottsdale Market Report Third Quarter 2023
talk/text with real estate expert Erica Anderson directly @ (480) 599-6811
- Quarterly Market Review -
A Review Of Key Market Differences Year over Year 3rd Quarter 2022 | 3rd Quarter 2023
SINGLE-FAMILY HOMES Q3: 2022
Median List Price
$998,000
Median SP/LP Ratio Average SP/LP Ratio Median PP/SqFt
101%
Median Sale Price
Q3: 2023
1,326
2,914
100%
Total Sold
883
97%
97%
New Listings
1,642
Total Inventory
$999,000
316
Q3: 2023
$1.15M
$985,000 $458
Q3: 2022
$304
36
Total Sold
New Listings
Official Market Type: Seller’s
16
2,836
Average Home Size
$14,000 Med. Sale Price
|
919
21
Median DOM
SINGLE-FAMILY HOMES MARKET SUMMARY
1,398
2,854
5
DOM
3rd Quarter 2023
New Inventory down by almost 20% is fueling the conditions for a Seller’s Market. Homes are selling for an average of 97% of asking price, the same percentage as this time last year. The median sales price has increased by $14,000. There were 919 SFD sales during Q3 2023: 320 were all Cash and 477 were closed with a Conv. loan. The average home size, recently sold, has pretty much stayed the same compared to last year. Two of the sales from this quarter were categorized as distressed sales (Bank Owned, Short Sale, HUD owned, pre-foreclosure etc.) compared to 3, this time last year.
- Quarterly Market Review -
A Review Of Key Market Differences Year over Year
SOLD BY PRICE
3rd Quarter 2022 | 3rd Quarter 2023 Q3: 2022
Q3: 2023
99 111
107 117
$1.1M - $1,199,999
97 91 41 49
106 74 58 38
$1.2M - $1,299,999
30
47
$1.3M - $1,399,999
41
38
$1.4M - $1,499,999
29
27
$1.5M - $1,999,999
115
110
$2M - $2,499,000
39
44
$2.5M - $2,999,999
26
39
$3M - $3,499,999
18
22
$3.5M - $3,999,999
15
17
$4M - $4,499,999
10
7
$4.5M - $4,999,999
4
3
$5M - $6M+
11
9
$400K - $499,999 $500K - $599,999 $600K - $699,999 $700K - $799,999 $800K - $899,999 $900K - $999,999 $1M - $1,099,999
11 46
16 40
The data used to create the Cromford® Report is obtained from public records and obtained under license from the Arizona Regional Multiple Listing Service, Inc (ARMLS). Cromford Associates LLC and ARMLS expressly disclaim and make no representations or warranties of any kind, whether express, implied or statutory, as to the accuracy of the data used or the merchantability or fitness for any particular purpose.
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A Note from our Team Leader about the future of Scottsdale Residential Real Estate. Scottsdale holds a cherished place in our hearts, its irresistible appeal evident at every turn. This community offers an exceptional quality of life, enveloped by breathtaking natural beauty and enriched by a vibrant array of amenities, making it one of the most coveted places to call home. As we gaze into the future, there are compelling reasons for optimism about the residential real estate landscape across Scottsdale’s diverse zip code zones, even in the face of challenges such as potential increases in mortgage rates and global conflicts. Scottsdale continues to draw discerning buyers who appreciate its unique allure, and this sustained demand paints a promising outlook for homeowners contemplating the sale of their properties. Property values have consistently shown upward momentum, and the diverse lifestyles available across the city’s zip codes are uniquely unmatched, offering a blend of affordability and luxury that appeals to homeowners of all ages and walks of life, like no other locale. In light of these promising trends, now is the perfect time for homeowners thinking about making a move to explore the Scottsdale real estate market and discover the ideal property for your lifestyle and investment needs. Contact me, and let’s begin crafting a plan for your next move today.
www.RealPremierTeam.com ©2023 All rights reserved. This representation is based on sales & data reported by multiple brokers/agents to the ARMLS for July, August, and September 2022 & 2023. Listings & sales may not be those of Erica Anderson or Real Premier Team of RE/MAX Fine Properties. The National Association of Realtors®, ARMLS and/or the Cromford Report do not guarantee the accuracy of this data, which may not reflect all the real estate activity in the area. E&OE. This market report is not intended to solicit properties already listed for sale nor intended to cause a breach of any existing agency relationship. Our real estate market report derives data primarily from the local Multiple Listing Service (ARMLS), public records & the Cromford Report. We employ statistical analysis, expert review, & qualitative insights to ensure the report’s accuracy. While we strive for reliability, market fluctuations & regional variations may impact the data’s precision. To find out how this data directly relates to your property’s value, contact us.