Melissa O'Connell

Associate Broker
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Scottsdale Real Estate Market Update

July 16 2015

The overall picture of the real estate market in the Scottsdale/Phoenix Metro Area (Arizona Regional Multiple Listing Service)is upbeat - a continuing trend. Sales are up. Average and Median List Prices are Up. Inventory is down. View the detailed reports.

But Scottsdale is a different story because it doesn't fit into the box quite well. For instance, in the ARMLS area, of the 7271 single family homes that sold in June, the price segment with the greatest number of sales was between $200,000 and $250,000 (1305 sold). But in Scottsdale, there are only 13 single family homes for sale priced less than $250,000. So why even bother looking at the ARMLS data? It is important to view the entire Metro area because it shows the overall trend. Part Two Coming soon -Insights into the Scottsdale real estate market.

As an example, here is a chart of single family homes for sale (active listings) as of July 16, 2015 in Scottsdale, sorted by price range. It is interesting in comparison to the ARMLS numbers that 497 of the active listings are under $500,000 while 1365 are over $500,000. Get a FlexMLS home search portal and see for yourself.

Scottsdale Single Family Homes - Active ListingsJuly 16 2015
under $200,0006
$200,000 - $300,00048
$300,000 - $400,000222
$400,000 - $500,000221
$500,000 - $600,000198
$600,000 - $700,000165
$700,000 - $800,000176
$800,000 - $900,000122
$900,000 - $1,000,00096
$1,000,000 - $2,000,000386
$2,000,000 - $3,000,000131
$3,000,000 - $4,000,00034
$4,000,000 - $5,00021
$5,000,000 +36
Total Homes for Sale - Scottsdale1862

Cocktail Party Real Estate Trivia Quiz

For the overall Scottsdale/Phoenix Metro Area

  1. What was the volume of Single Family Homes Sold in June?
  2. What was the median sales price for Single Family Homes sold in June?
  3. Which financing type was the most popular?
  4. The greatest number of homes sold in how many days?
  5. Which price range had the greatest number of sales? (Hint: I already gave you the answer.)

Click here for the answers