Real Estate News and Auction

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How High Will Inventory Go? This week we are looking at the long term average days of inventory throughout the valley at different price ranges. Inventory is much higher than the long term average in the lower ranges, and slightly higher than average in the mid range. How will this affect the market if inventory continues to climb? Also, how has the volatility in the stock market affected real estate?

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Foreclosures Increase. Tariffs Hit. Is The Housing Market in Trouble? Last week was filled with market volatility with Trump's "Liberation Day" announcements. This impacted mortgage rates in a positive way, but all that changed as we entered into this week. Phoenix is seeing a 50% increase in pending foreclosures year over year. This is something to track, especially as we start to see unemployment increase.

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1. Market Overview:

• Median Home Price: As of early 2025, the median home price in Scottsdale is around $800,000, though this varies significantly by neighborhood. Luxury homes (typically those over $1M) remain highly competitive, especially in areas like North Scottsdale, Grayhawk, and Gainey Ranch.

• Market Type: Scottsdale is considered a seller’s market, with low inventory and high demand. The market has been tight for several months, with listings often seeing multiple offers.

2. Inventory:

• Homes for Sale: Active listings in Scottsdale have been lower than normal, contributing to the increase in home prices. New listings are still coming on the market, but they tend to sell quickly due to the competitive demand.

• Days on Market: Homes in Scottsdale typically spend an average of 30-40 days on the market, but highly desirable properties, especially in prime locations, may sell in a matter of days.

3. Buyer Trends:

• Buyers are still highly interested in Scottsdale due to its proximity to Phoenix, excellent schools, golf courses, and high-end amenities.

• Many buyers are moving from out of state, particularly from California, due to the city’s lower taxes, beautiful weather, and lifestyle offerings.

• Luxury Market: There has been a steady demand for luxury properties, with many affluent buyers attracted to Scottsdale’s upscale communities and second-home market.

4. Price Trends:

• Appreciation: Home prices have been appreciating steadily, with slight moderation expected in the coming months as the market adjusts. However, demand is still expected to outpace supply in the near term.

• Luxury Home Prices: The luxury market has seen a 5-10% increase in prices over the past year, especially in areas like DC Ranch, Silverleaf, and Troon North.

5. Rental Market:

• Scottsdale also has a strong rental market, driven by seasonal demand and the popularity of the area among vacationers, especially in the winter months.

• Short-term rentals are a popular investment option, especially in areas near Old Town Scottsdale, where demand for vacation properties remains high.

6. Future Outlook:

• Scottsdale’s real estate market is likely to remain stable but competitive through 2025, especially given the area's appeal to both retirees and high-net-worth individuals looking for a vacation home or primary residence.

• There is a potential for slight cooling in home price appreciation as interest rates fluctuate and the economy stabilizes, but strong demand from both in-state and out-of-state buyers should keep the market robust.

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KTAR News' housing highlight series continues with reporter Balin Overstolz speaking with real estate experts from around the Valley to explain where housing growth is happening the most in Arizona.

Who was left behind as affordable options dried up?: https://ktar.com/arizona-real-estate/phoenix-housing-market-today/5692858/

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Buyers and renters of all ages were left behind as affordable options dried up. How did the metro Phoenix housing market get to this point?

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Even among respondents planning to hire agents, only 70% said they trust them, the report noted, marking a decline from 81% in the prior year.

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