Scottsdale Real Estate Market Update

Scottsdale’s spring real estate scene is shifting. Not with a boom. Not with a bust. Just a clear step toward balance. Inventory is rising. Homes are sitting longer. Buyers are being choosy. Sellers are watching the wind. It’s not wild, but it’s not quiet either.

Active Listings Keep Climbing

There are more homes for sale now than we’ve seen in a while.

The Scottsdale real estate market hit 1,791 active listings for single family homes last month. That’s a 27 percent increase compared to spring of last year. More options for buyers, more pressure on sellers to stay competitive.

• 1,791 active listings

• Up 27 percent from spring of 2024

• Steady weekly growth in supply

• Homes no longer flying off the shelf

• Sellers adjusting their expectations

It’s not a rush. It’s a build. More homes coming online every week. That gives buyers breathing room.

Also Read: Is Scottsdale A Good City To Live In?

Prices Still Rising in the Luxury Tier

Even with more listings, pricing hasn’t blinked.

The median sales price jumped to 1.28 million dollars, up 14.7 percent year over year. The average sale price reached 1.72 million dollars. High dollar homes are still changing hands and holding value.

• Median price 1.28 million dollars

• Average price 1.72 million dollars

• 97.1 percent of list price achieved

• Price per square foot 544.76 dollars

• Strong activity in the luxury segment

Well priced homes are still moving. Especially in North Scottsdale, near golf course enclaves, and custom view lots.

Closings Up But Homes Take Longer to Sell

Sales are healthy but speed is slowing.

Scottsdale posted 409 closed sales in March, a 19 percent increase over last year. But homes are now sitting 79 days on market on average. That’s up nearly 18 percent.

• 409 closings in March

• Closings up 19 percent year over year

• 79 days on market on average

• Buyers taking more time

• Sellers making more concessions

The buyer pool isn’t gone. It’s just more selective. Fast sales still happen, but they’re the exception now.

Also Read: Scottsdale Joins Global Surge In Luxury Branded Residences

Market Balance Creeping In

Momentum is shifting. Slowly. Steadily.

Scottsdale’s Cromford Index slipped to 113 last week. That still leans toward sellers, but it’s falling. Earlier in April it ranked higher. The drop signals balance creeping in.

• Cromford Index at 113

• Slight decline from earlier weeks

• Lower urgency from buyers

• Builders starting to adjust pricing

• Inventory still growing week by week

The luxury space is still strong, but other segments are flattening out. Pricing too high will get ignored.

Closing Thought for Spring

Scottsdale remains desirable. No doubt about it. But the game is changing. More homes. Longer timelines. Price points holding, for now. If you’re buying, the window is widening. If you’re selling, you need strategy. It’s not a frenzy. It’s a recalibration. And it’s already here.

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