Real Premier Team - real estate -
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Scottsdale Market Report Fourth 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 4th Quarter 2022 | 4th Quarter 2023
SINGLE-FAMILY HOMES Q4: 2022
Q4: 2023
Q4: 2022
Q4: 2023
1,060
1,225
Median List Price
$999,999
$1.069M
Total Inventory
1,166
Median SP/LP Ratio Average SP/LP Ratio Median PP/SqFt
97%
99%
Total Sold
789
Median Sale Price
$975,000 96%
$380
165
New Listings
$1.06M 97%
$437
18
Total Sold
New Listings
2,903
Average Home Size
$85,000 Med. Sale Price
SINGLE-FAMILY HOMES MARKET SUMMARY Official Market Type: Seller’s
16
Median DOM
|
1,257 807 1
2,914
0
DOM
4th Quarter 2023
New Inventory is up by almost 16% year over year, but the buyer demand is still out pacing the supply of available inventory offering continued conditions for a Seller’s Market. It’s to be noted that the market is softening when comparing inventory available vs. properties under contract from Q3 to Q4 2023. Homes are selling for an average of 97% of asking price, slightly higher than this time last year. The median sales price has increased by $85,000. There were 807 SFD sales during Q4 2023: 322 were all Cash and 362 were closed with a Conv. loan. Four of the sales from this quarter were categorized as distressed sales (Bank Owned, Short Sale, HUD owned, pre-foreclosure etc.) compared to 1, this time last year.
- Quarterly Market Review -
A Review Of Key Market Differences Year over Year
SOLD BY PRICE
4th Quarter 2022 | 4th Quarter 2023 Q4: 2022
Q4: 2023
95 99
93 106
$1.1M - $1,199,999
78 70 36 46
70 50 43 41
$1.2M - $1,299,999
47
37
$1.3M - $1,399,999
27
39
$1.4M - $1,499,999
19
23
$1.5M - $1,999,999
88
95
$2M - $2,499,000
39
49
$2.5M - $2,999,999
21
31
$3M - $3,499,999
21
24
$3.5M - $3,999,999
11
15
$4M - $4,499,999
9
15
$4.5M - $4,999,999
5
6
$5M - $6M+
11
16
under $500K
$500K - $599,999 $600K - $699,999 $700K - $799,999 $800K - $899,999 $900K - $999,999 $1M - $1,099,999
23 44
13 41
Some of the data used to create this brochure is from the Cromford® Report. 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 the Team Leader... Happy New Year to You! I’m pleased to share that mortgage rates have dropped since our last update, signaling a promising year ahead for both buyers and sellers.
In the current market, selling success depends on a well-thought strategy. By staying apprised about your area’s pricing trends, pricing your property at Fair Market Value and working with a pro-active experienced realtor, like me, you stand a great chance of meeting your real estate goals this year.
As your trusted real estate advisor, my commitment to providing you with top-notch service and insightful guidance remains unwavering. Here’s to a year filled with prosperity, wise investments, and realizing your real estate dreams in Scottsdale. I look forward to supporting you every step of the way in 2024! Cheers, Erica Anderson
www.RealPremierTeam.com
©2024 All rights reserved. This representation is based on sales & data reported by multiple brokers/agents to the ARMLS for October, November, and December 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.