Luxury home sale activity is strong. Let’s dive into my Scottsdale luxury market update for April 2022. Luxe inventory has risen sharply from last month and as of April 30, 2022, there are 409 luxury properties available for sale.
The average dollars per square foot list price is $686 and the active listings have been on market an average of 65 days. The active listings range in price from $1M to $28M. There are over 450 pending sales and since April 1, 2022, there have been 281 sales.
Here are some stats for recently sold luxury properties:
- Average days on market: 43
- Average dollars per square foot: $550
- Average list to sale price ratio: 1.03
- Average sale price: $2,075,221
This graph shows how the original list price has changed for pending sales over the past two years:
Stock market volatility, more than rising interest rates, will likely put a damper on luxury homes sales over the next few months. The Scottsdale market is still very strong and heavily in favor of sellers though I feel a slight shift coming. Thank you for checking out my Scottsdale luxury market update. If you have any questions about Scottsdale or Paradise Valley real estate, please reach out anytime.
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