Scottsdale Market Trends
Maricopa County Market Trends
This is the current data for home prices, inventory and market activity for the greater Phoenix area, including Scottsdale. The Scottsdale real estate market has been on an upturn since the end of 2011, when home prices were astonishingly low. The median sales price for homes in Maricopa County is up 9.8 percent from last year, and the average sales price is up 9.2 percent.
For more information on current market trends in Phoenix and Scottsdale contact Carmen Brodeur at Carmen@TopScottsdaleHomes.com, or check out recent articles below.
Phoenix Home Price Gains Now Highest In the U.S.
Phoenix Business Journal, By Angela Gonzales, February 27, 2020
Phoenix has topped the nation in annual home price gains, according to the latest results of the S&P CoreLogic Case-Shiller Indices.
Data through December 2019 revealed year-over-year price increases of 6.5% in Phoenix — nearly double the national average — followed by 5.3% in Charlotte, North Carolina, and 5.2% in Tampa, Florida, according to the S&P CoreLogic Case-Shiller US National Home Price NSA Index.
Residential sales set Metro Phoenix record in 2019; what’s up in 2020?
AZ Big Media – By FLETCHER R. WILCOX, February 03, 2020
Dollar sales volume in 2019 for sales of single-family resales in Greater Phoenix (Maricopa County) was the highest ever for a single year. Dollar sales volume in 2019 residential sales exceeded the previous record year by $1 billion. Dollar sales volume in 2019 was $27.1 billion in 2019 beating the previous record set 14 years ago in 2005 when it was $26.1 billion. See Chart one for dollar sales volume for sales of single-family resales from 2000 through 2019.
The median purchase price in 2019 trended differently than the preceding four years. From 2015 through 2018 the median purchase price of a single-family resale in Maricopa County peaked in the month of June, then went down in July, and worked its way pack up by December, but never quite as high as the preceding June. See Chart two. In 2019 for the first time in the last five years, the median purchase price was higher in July than June. And for the first time in the last five years, it was higher in December than June. The December 2019 median purchase price for single-family resales in Maricopa County hit an all-time high finishing at $320,990. This is $30,990 or 10.7 percent higher than in December 2018 and January 2019 when it was $290,000 in each of those months.
Metro Phoenix Million-Dollar Home Sales Soar, But Who Can Afford Them?
By Catherine Reagor – StreetScout, January 19, 2020
A lot more millionaires are buying metro Phoenix homes.
Sales of homes priced at $1 million or more in the Phoenix area have jumped 36% during the past six months, according to the Cromford Report.
In 2019, a record 2,132 houses with seven-figure price tags changed hands Valley-wide. That’s up 7.6% from 2018.
And the pace isn’t slowing down.
Outlook: Here’s Why the Phoenix Housing Market Probably Won’t ‘Crash’ in 2020
HBI, By Brandon Cornett, January 14, 2020
A recent forecast for the Phoenix, Arizona real estate market predicted that home prices would continue rising through 2020. And that’s not surprising. Based on the current supply-and-demand situation in the area, it seems unlikely that the Phoenix real estate market will crash anytime soon.
With that being said, this market will probably experience a lower level of home-price appreciation in 2020, compared to the gains of 2018 and 2019.
Stay informed on the latest Scottsdale AZ real estate market trends by bookmarking this page. The real estate trends in Phoenix and Scottsdale are completely different than the national trends. This page is updated frequently to keep you informed on the changes in the market. Research the latest Scottsdale real estate market trends and housing statistics right here. We want all of our clients to have access to the most current Scottsdale real estate stats and trends.
Please call Carmen Brodeur at (602) 791-0536 with any questions.