Scottsdale real estate sales have been heating up the past two months. Let’s dive into our Scottsdale market update for September 2020.
Total inventory across the county has remained steady and is currently hovering around the 8000 mark.
In Scottsdale, there are currently 1437 active listings and the average days on market for those listings (all product types) is 109–this number is up from our last report in July. Below is a graph that shows the average days on market for recent sales by product type.
There are currently 1202 pending sales and there are 93 “coming soon” properties. Since August 1, 2020, there have been 1579 closed sales which were on market an average of 84 days–this number is up from July. Here are some stats regarding the average sale over the course of the past 60 days:
- $738,874 average sale price
- 2800SF average size
- $282/SF average dollars per square foot obtained at sale
- .98 average list to sale price ratio–even in this market, there may still be some room for negotiation though a buyer must look at many factors as some homes are selling at full price with multiple offers
Now we’ll look briefly at the luxury market which comprises properties priced at $1M or more.
There are 609 active luxury properties for sale and there are 279 pending sales with another 33 “coming soon” listings. Since August 1, 2020, there have been 297 sales–this number is up significantly since July.
The average sale price and list to sale price ratio remain unchanged over the past 60 days. The average days on market for recent sales is 141–this figure is down from 149.
Overall, the Scottsdale real estate market is strong and while we usually see a slight slow-down after summer, pent up demand and pre-election anxiety might be driving sales for the next month or two. Home loan rates are still low and this will help pull more buyers off the fence.
Thanks for checking out our Scottsdale market update for September 2020. If you have any questions about Scottsdale real estate or the surrounding areas, please reach out anytime–I’d love to hear from you.