Scottsdale, AZ

The Scottsdale ZIP code 85254 is currently experiencing a cooling trend in its housing market. While active listings and new listings have seen year-over-year increases, the modest appreciation in median price per square foot and the rising price-reduced share indicate moderating market dynamics.

Active listings increased 11.3% year-over-year, reaching 295, while new listings demonstrated a 12.0% annual increase, totaling 112. The median listing price remained relatively stable with a 0.1% year-over-year decrease to $998,000. Median days on market saw a slight 0.9% year-over-year increase to 56 days. The share of price-reduced properties rose by 6.1% year-over-year to 35.1%. The pending ratio stands at 0.33, reflecting a 1.1% year-over-year increase.

The increasing number of active and new listings, coupled with a growing share of price reductions and a slightly longer median days on market, suggests that sellers are encountering a market with increasing inventory pressure and a moderating pace of transactions. Buyers, in this environment, may find opportunities for more deliberate decision-making, potentially leading to more disciplined pricing outcomes.

The average listing price of $1,375,679, a 6.2% year-over-year increase, significantly exceeds the median listing price of $998,000. This substantial spread indicates strong demand and premium pricing within the luxury segment of the market despite overall cooling trends. The median price per square foot is $458, reflecting a 3.0% year-over-year appreciation.