In order to see where we’re headed in 2019, let’s take a look at my 2018 Scottsdale real estate market report.
Overall, sales were brisk and totaled 8619 transactions for the year–this includes all product types–condominiums, single family homes, town homes and patio homes. The average days on market (ADOM) for all sales was 97. The average sold price per square foot was $236 and the average list to sale price ratio was .97–on average sellers came down 3% off the asking price.
The graph below shows how the Average Days on Market changed throughout 2018–Scottsdale is listed in purple:
As you can see by the graph below, the Market Activity level in Scottsdale (shown again in purple) remained very consistent throughout the year:
Waterfront and golf course lot sales
In 2018 there were 532 sales of golf course lot and waterfront lot properties in Scottsdale. The ADOM for these lifestyle properties was 143 and the average dollars per square foot obtained at sale was $287. The average sale price was $980,902 and the average list to sale price ratio was .97. Not surprisingly, the communities with the highest priced sales of these types of homes were Estancia, Desert Mountain, Silverleaf at DC Ranch, Desert Highlands and Gainey Ranch.
Breakdown by housing product type
Single family homes
Of the total number of sales for 2018, 5352 were single family homes. The ADOM was 109 and the average dollars per square obtained at sale was $244. The average sale price was $736,775–with the average home size coming in at 2882SF. The high sale in Scottsdale was $17,500,000.
Now let’s take a look at town homes. There were 1351 town home sales with an ADOM of 81. The average price per square foot obtained at sale was $214 and the average sales price was $356,510. The highest town home sale in Scottsdale for 2018 came in at $2,154,703.
There were 1569 condominium sales in Scottsdale last year and for those, the ADOM was 74. The average price per square foot obtained at sale was $225 and the average sale price was $274,200. The highest condo sale in Scottsdale for 2018 was $3,450,000.
We’ll skip patio homes, but let’s briefly take a look at what happened with land sales in Scottsdale for 2018. There were 330 sales of land/lots ranging in price from $29,947 to a high of $3,050,000. The ADOM for land sales was 404. The average sold price was $492,164 and the average list to sale price ratio was .91. The majority of the high-priced sales occurred in Silverleaf at DC Ranch–though the highest sale was a 19 acre parcel near the intersection of Happy Valley RD and Pima RD.
Thank you for taking the time to read my 2018 Scottsdale real estate market report. To read predictions for the real estate market in 2019, check out this post. If you have any questions, reach out any time and if you’re thinking about buying a property, be sure to read my Scottsdale real estate guide .