Scottsdale

Scottsdale Prices up 7%

The Median Sales Price in Scottsdale was $600,500 last month, up 7% YoY compared with $560,000 in July 2018, and up 33% over the last 5 years.

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- Chris Butterworth

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Simple MLS Charts is supported by readers like you. If you find these charts useful, please consider becoming a patron with a small monthly pledge on Patreon.

* All chart data represents single-family detached homes only. Information is believed accurate but not guaranteed.

 

Scottsdale Prices Turn Down in June

I’ve been watching softness develop in the higher-priced homes over the last couple of months, but this is the first chart which has shown it so bluntly.

The Median Sales Price in Scottsdale was $591,000 last month, down 2% from $604,250 in June ’18. (although we’re still up 4.6% from $565,000 in June ‘17.)

I’ve written before about the fluctuations in month-to-month comparisons, which is why I try to look at longer-term trends. Unfortunately, the longer-term trend looks worse than the monthly year-over-year comparison:

  • In 2017, June was the highest price month of the year, capping a 5.4% spike in pricing from April to June.

  • In 2018, June was the 2nd highest price month of the year, and the spring saw a 5% surge from April to June.

  • In 2019, prices have declined 5.4% from April through June.

We’ve seen pricing “blips” before, so I’m not ready to run for the hills in panic mode. That being said, most of the time the blips are single months, and they don’t go against seasonal trends. It’s definitely time to be careful out there…

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- Chris Butterworth

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Simple MLS Charts is supported by readers like you. If you find these charts useful, please consider becoming a patron with a small monthly pledge on Patreon.

* All chart data represents single-family detached homes only. Information is believed accurate but not guaranteed.

 

Scottsdale Prices continue to rise

The Median Price per Square Foot in Scottsdale reached $244.89 in April, up almost 5% from April ‘18.

We’ve seen other parts of the Valley where prices have flattened out a little bit lately, and we’ve seen some potential softness in the luxury pricing as well, but the median $/sqft in Scottsdale hasn’t slowed down at all.

Pricing ultimately reflects desirability, and Scottsdale is the highest-priced city in the Valley (of the larger cities). Maybe that desirableness is what’s keeping prices pushing higher..?

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- Chris Butterworth

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Simple MLS Charts is supported by readers like you. If you find these charts useful, please consider becoming a patron with a small monthly pledge on Patreon.

* All chart data represents single-family detached homes only. Information is believed accurate but not guaranteed.

 

Scottsdale Prices are Up, sort of

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.

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- Chris Butterworth

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Simple MLS Charts is supported by readers like you. If you find these charts useful, please consider becoming a patron with a small monthly pledge on Patreon.

* All chart data represents single-family detached homes only. Information is believed accurate but not guaranteed.

 

85262 in Scottsdale Tops $800,000

Taking a look at the Median Price by Zip Code in Scottsdale, and 3 things jumped out at me:

  • 85262 is EXPENSIVE, with a median sales price of $802,500 so far this year.

  • 85257 is the most affordable zip code in Scottsdale, yet this zip code’s median price of $335,000 is still higher than most of Maricopa County.

  • The change at the top end is significant. I pulled a similar chart last year which showed 85266, 85255, and 85262 all within a few thousand dollars of each other, hovering around the $700,000 mark. Today’s chart shows 85262 (Pinnacle Peak / Troon area) median price is $100,000 higher, while 85266 (North Scottsdale Road Corridor area) median has only increased by $30,000. Is this a sign of a future trend (and a potential investment opportunity), or is it a short-term blip based on looking at only 2 months’ worth of data? Time will tell…

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- Chris Butterworth

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Simple MLS Charts is supported by readers like you. If you find these charts useful, please consider becoming a patron with a small monthly pledge on Patreon.

* All chart data represents single-family detached homes only. Information is believed accurate but not guaranteed.