The Median Sales Price in Scottsdale was $590,000 in the first quarter this year, up 7.5% compared with the same quarter last year, and 26% over the last 4 years.
That being said, Q1 2019 is the only 1st quarter in the chart where prices aren’t higher than the previous quarter; the median sales price was flat from Q4 ‘18 to Q1 ‘19. Compare that to Q1 in 2016, 2017, and 2018, which were all higher than the preceding Q4.
We won’t know for a few months whether this cycle of price appreciation is slowing down, or if this is just a blip in the pattern.
- Chris Butterworth
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* All chart data represents single-family detached homes only. Information is believed accurate but not guaranteed.