Luxury real estate sales across Maricopa County have been going strong. Let’s dive into my Scottsdale luxury market update for October 2021.
As of October 31, there are 362 actively listed luxury properties in Scottsdale with an average days on market of 102. There are 334 pending sales and 28 “coming soon” properties. In the past 30 days there have been 167 sales that were on market an average of 49 days–compare this to 58 days last month. The average dollars per square foot obtained at sale rose from $442 to $475.
The following graph shows how the average days on market has changed since last October 2020 along with the list to sale price ratio:
This graph shows a marked change in the average price of pending sales over the past year:
Although inventory has risen across the county, some pockets remain more hot than others–Scottsdale is one of those pockets. Inventory is still low in Scottsdale and we continue to experience a seller’s market. The closing months of the year generally bring strong sales activity with a few breaks around Thanksgiving and Christmas. We expect sales to be brisk for several months. Thanks for reviewing my Scottsdale luxury market update for October 2021. If you have any questions, please reach out.