Scottsdale, AZ

The housing market in Scottsdale, AZ (ZIP 85259) is currently in a cooling phase. While some metrics indicate continued demand, overall trends suggest a market with reduced intensity compared to previous periods.

The median listing price has observed a modest 1.7% increase MoM, yet a notable 3.2% decline YoY, suggesting a downward adjustment over the past year. Active listings have decreased by 6.2% YoY, and new listings have seen a more significant 20.0% decline YoY, pointing to constrained inventory. Median days on market increased by 4.2% YoY to 62 days, indicating a slower pace of transactions. The price-reduced share is 31.2%, a slight decrease of 0.5% YoY. The pending ratio stands at 0.41, a 2.6% increase YoY, suggesting some sustained buyer interest relative to active listings.

The cooling market conditions are exerting pressure on pricing discipline, evidenced by the YoY decline in median listing price despite a MoM increase. While the increase in the pending ratio suggests some transactional velocity, the extended median days on market points to a slower pace of sales. The reduction in both active and new listings indicates some inventory constraints, but not enough to significantly bolster negotiating leverage for sellers given other market indicators.

The average listing price of $1,894,461 is considerably higher than the median listing price of $1,525,000, indicating a significant luxury segment within the market. The median price per square foot is $467, with a modest 1.8% increase YoY, reflecting stability in per-square-foot values at the mid-market level.