As a real estate professional in Scottsdale, it is important to have a deep understanding of the local market and various metrics that impact it. By analyzing data and trends, we can gain key insights into the current state of the market and make informed decisions to meet our clients’ needs.
Taking a closer look at the data presented, we see that the Months Supply of Inventory in Scottsdale is currently at 2.68, indicating that there is a relatively low supply of homes available for sale. This means that inventory is limited and demand is high, leading to a favorable position for sellers to negotiate higher prices.
It is also important to note that the 12-Month Change in Months of Inventory has increased by +48.07%, suggesting that the market is shifting towards a more balanced state. While buyers currently face a limited supply of available homes, this shift towards a more balanced market may mean that they will have greater options in the coming months.
The Median Days Homes are On the Market in Scottsdale, currently at 42, is a key metric for understanding how quickly homes are being sold. This low number indicates that homes are being sold relatively quickly, with buyers eager to make a purchase in a low-supply market.
In addition, the List to Sold Price Percentage in Scottsdale, which measures how close the final sale price is to the initial listing price, is high at 96.1%. This means that sellers are able to secure close to their asking price, indicating strong negotiating power for sellers in today’s market.
Finally, the Median Sold Price in Scottsdale, currently at $1,274,950, suggests that there are high-end homes selling in the market, indicating a healthy and robust market. Having a high median sold price is a positive indicator for both buyers and sellers alike as it signals a strong demand for high-value homes.
Overall, understanding these metrics is crucial for both buyers and sellers in Scottsdale’s market. By monitoring changes in inventory, days on the market, list to sold price percentage and median sold price, professionals can make informed decisions and provide value to their clients.
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20485 N 93rd Place Scottsdale 85255
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9820 E Thompson Peak Parkway 606 Scottsdale 85255
24972 N 114th Street Scottsdale 85255
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9202 E Diamond Rim Drive Scottsdale 85255
