Scottsdale Market Trends
Maricopa County Market Trends
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 Leads Nation with 29.3% Year-Over-Year Home Price Increase
AZ Business Magazine, September 1, 2021
S&P Dow Jones Indices (S&P DJI) today released the latest results for the S&P CoreLogic Case-Shiller Indices, the leading measure of U.S. home prices. Data released today for June 2021 show that home prices continue to increase across the U.S. and Phoenix leads the way with a 29.3% year-over-year home price increase.
Shift Coming in Metro Phoenix Market
By Catherine Reagor, Arizona Republic, July 22, 2021
Sellers’ grip on metro Phoenix’s housing market is starting to slip.
The supply of Valley homes for sale has steadily been climbing for the past few months, giving buyers worn out by bidding wars and new monthly home price records a better chance to close on one.
Drops in listing prices are on the rise too.
Valley home listings are up almost 43% since late February, according to The Cromford Report. And price reductions in homes listed for sale have jumped 102% since mid-February.
3 Highest-Priced Neighborhoods Driving Hot Housing Market
AZ Business Magazine, June 19, 2021
The Metro Phoenix housing market is red-hot right now, but the highest-price neighborhoods are even outperforming the rest of the market.
• In May, the median listing price for a home in the Phoenix-Mesa-Scottsdale market was $450,000, a 17.1 percent year-over-year increase.
• In April, 655 million-dollar home sales closed. To put that into perspective, fewer than 200 million-dollar home sales closed in April of 2020.
• The number of homes that sold in April with prices in excess of $3 million was 73, a 66 percent increase since just December 2020.
Metro Phoenix Home Prices Reach New High of $450,000 in May
AZ Business Magazine, June 7, 2021
U.S. median home prices continued its double-digit appreciation in May reaching a new an all-time high of $380,000, but in a good sign for home shoppers contending with a competitive housing market, the rate of price growth moderated for the second time in 13 months, according to the Realtor.com Monthly Housing Trends Report released today. As for Metro Phoenix home prices, the median listing price hit $450,000, a 17.1% increase year over year.
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Please call Carmen Brodeur at (602) 791-0536 with any questions.