Scottsdale, AZ

The housing market in this ZIP code is characterized by a significant deceleration. The median listing price has experienced a notable year-over-year decline of 11.2%, accompanied by a 1.9% month-over-month decrease. Active listings have expanded considerably, increasing by 35.0% over the past year, contributing to an environment of elevated supply relative to demand.

The most recent data indicate a weakening price environment, with the median listing price decreasing by 1.9% month-over-month and 11.2% year-over-year. Active listings have risen sharply by 35.0% over the past year, while new listings have more than doubled, increasing by 114.3% during the same period. The pending ratio stands at 0.23, a modest year-over-year decrease of 1.5%. Median days on market have seen a slight year-over-year reduction of 5.1%, reaching 74 days, yet the share of price-reduced listings remains substantial at 24.1%. Median price per square foot has also declined by 2.9% year-over-year.

The current market dynamics suggest that properties are experiencing prolonged exposure. The expansion of active listings and the consistently low pending ratio of 0.23 indicate that sellers face pressure to adjust pricing expectations to attract engagement. The substantial share of price-reduced listings further underscores this requirement for price discipline.

The average listing price of $554,025 is notably below the median listing price of $572,500, suggesting that a segment of higher-priced inventory is experiencing slower absorption, which pulls the average downward. The median price per square foot is $368.