Before August, we saw inventory drop slightly around the Phoenix metro area, but in the last 60 days, housing inventory has remained somewhat stable. Between Scottsdale and Paradise Valley (all price points and product types), there are currently 2396 active listings which have been on the market an average of 103 days. Let’s take a deeper dive into each of these markets at various price segments.
Scottsdale Under $2M
There are a little over 1600 active listings with an average days on market of 97. The average asking price per square foot is $445. There are 455 properties under contract and from Aug 1, 2025 to Sept 30, 2025, there have been 930 closed sales that sold for an average of $405/SF.
Scottsdale Luxury
At the luxury end of the market, there are 593 active listings which have been on the market for an average of 151 days. There are 189 pending sales and in the past sixty days, there have been 128 closed sales. The closed sales were on the market for an average of 119 days and sold for an average price per square foot of $725.
PV Luxe
Above the $2M mark, there are 168 active listings in Paradise Valley ranging from $2,000,000 to $50M. The active listings have been on the market for an average of 93 days. Currently there are 6 “coming soon” listings and 27 properties under contract. From Aug 1, 2025 to Sept 30, 2025, there have been 43 closed sales. Here are MLS stats for recently closed sales:
Market Summary
Scottsdale and Paradise Valley remain in weak seller’s markets. The chart below shows how pending sales have increased across these markets over the past four months.
The fall/winter season generally brings increased sales activity, but there are many factors at play right now that could affect our market. Interest rates, while lower, remain above 6%–this is keeping some buyers on the sideline. The government shutdown has caused some uncertainty and there has been more talk amongst analysts about a major market correction. Time will tell, but in the short run, I expect sales in both of these luxury markets to remain fairly steady.
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