Looking at all the homes sold in Scottsdale so far year-to-date, the distribution by price range looks pretty close to what we would expect to see:
Almost 2/3 of the homes sold were between $250,000 and $750,000.
The Median Sales Price - the middle number of all the sales - is going to be in the $500,000 - $750,000 price range.
The number of sales tapers down as prices get above $750,000, and then again above $1,000,000, with a much smaller number of sales at prices above $2,500,000.
It’s interesting to note there have been the same number of sales < $250,000 as there have been > $5,000,000. (15 each)
Scottsdale has a reputation as a luxury market. And for good reason - there are more luxury home sales in Scottsdale than any other city in Arizona. But we sometimes forget there are “regular” home prices in Scottsdale, too; 1,266 sales so far this year have been under $500,000. Then again, maybe we need to define “regular” a little better…
- Chris Butterworth
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* All chart data represents single-family detached homes only. Information is believed accurate but not guaranteed.