Scottsdale, AZ

The housing market in ZIP 85250 is currently classified as Very Weak. Inventory levels have significantly increased over the past year, contributing to a softening in the median listing price and a decline in pending activity. While median days on market have decreased, the overall metrics indicate a market with reduced demand relative to supply.

Active listings have expanded substantially, showing a 27.3% year-over-year increase, complemented by a 25.0% rise in new listings over the same period. The median listing price has seen a 6.9% decrease year-over-year, despite a slight month-over-month gain of 0.5%. The pending ratio, currently at 0.20, has declined by 9.4% year-over-year, indicating a slower absorption of available homes. Median days on market have compressed by 25.3% over the past year to 70 days, while the share of price-reduced listings has also decreased year-over-year by 6.7% to 23.5%. The median price per square foot is down 5.7% year-over-year.

The notable increase in active and new listings points to growing inventory pressure, reducing competition for available properties. This expanding supply, coupled with a declining pending ratio, indicates that prospective purchasers have increased capacity for price discipline and negotiation. The significant year-over-year decline in the median listing price reflects an environment where price adjustments are more common due to reduced demand relative to supply.

The average listing price of $914,601 significantly exceeds the median listing price of $675,000, suggesting a distinct premium for properties at the higher end of the market. The average listing price has decreased by 12.5% year-over-year, outpacing the decline in the median price. The median price per square foot stands at $403.