Scottsdale, AZ

The 85262 ZIP code is currently experiencing very weak market conditions. While the median listing price shows a positive month-over-month increase, most other key indicators point to a subdued market with increasing inventory and slowing activity.

The median listing price in 85262 has increased by 4.4% MoM and 1.9% YoY, reaching $2,395,000. However, active listings have risen by 5.1% YoY to 373, and new listings have seen a substantial 30.0% YoY increase, reaching 52. The median days on market has lengthened by 3.9% YoY to 94 days, indicating properties are taking longer to sell. The price-reduced share has also increased by 4.7% YoY, now at 21.7%. The pending ratio stands at 0.21, a 1.2% YoY increase, suggesting a slight uptick in pending activity but still a low ratio in absolute terms. Median price per square foot shows a modest 1.3% YoY increase at $595.

The escalating number of active and new listings, combined with a longer median days on market and a higher price-reduced share, suggests that inventory pressures are building. While pending activity has seen a slight year-over-year increase, the overall low pending ratio indicates a slower pace of transactions. This environment necessitates price discipline from sellers.

The average listing price of $2,914,476 is significantly higher than the median listing price of $2,395,000, indicating a substantial premium for properties at the top end of the market. However, the average listing price has seen a 4.5% YoY decrease, contrasting with the positive YoY median price growth. The median price per square foot for the overall market is $595, reflecting the base pricing of the available inventory.