Scottsdale-North Phoenix Residential Real Estate Report – 9-27-2021

Market Update – Week of September 27th

Inventory shrank slightly this week and hasn’t changed much over the past 3 weeks. Both buyers and sellers seem to be more confident overall as the market has stabilized a bit. Part of the stabilization may be from some buyers dropping out of the search as the market has priced them out. However, the Phoenix area continues to offer home prices that are below that of many major metropolitan areas so there doesn’t seem to be any indication that the demand will slow in the near future.

The number of homes being sold over list price declined slightly in September thus far with just 46% of homes closing over list vs 49% last month. Additionally, 32% of homes sold for less than list price vs 27% last month.

Residential Real Estate Market Stats by Area
Median Days on MarketChangePrice/sq ftChange
Anthem
27-Sep7-66.7%2950.7%
20-Sep21-40.0%2934.3%
13-Sep35-28.6%281-0.7%
6-Sep4940.0%283-0.4%Two Week Change
23-Aug350.0%284-3.1%(normally 1 week)
16-Aug3525.0%2933.9%
9-Aug2833.3%2821.1%
2-Aug2150.0%2791.1%
26-Jul14-44.0%276-5.8%
19-Jul2519.0%2933.9%
12-Jul2150.0%2822.5%
5-Jul140.0%275
28-Jun14na
Cave Creek
27-Sep2519.0%3333.1%
20-Sep21-16.0%323-1.2%
13-Sep2519.0%3271.6%
6-Sep2150.0%3220.0%Two Week Change
23-Aug14-33.3%322-1.8%(normally 1 week)
16-Aug21-25.0%3280.3%
9-Aug28-33.3%327-4.4%
2-Aug4220.0%342-2.0%
26-Jul35-37.5%3490.0%
19-Jul5614.3%349-0.6%
12-Jul4940.0%3517.7%
5-Jul350.0%326
28-Jun35na
Carefree
27-Sep63-47.1%411-11.2%
20-Sep1190.0%463-0.2%
13-Sep11913.3%4640.0%
6-Sep10510.5%4648.2%Two Week Change
23-Aug9513.1%429-3.2%(normally 1 week)
16-Aug843.7%443-1.1%
9-Aug815.2%448-3.2%
2-Aug7714.9%4637.9%
26-Jul6726.4%4290.0%
19-Jul538.2%4290.9%
12-Jul496.5%4251.7%
5-Jul46418
28-Junnana
Phoenix
27-Sep210.0%269-0.7%
20-Sep210.0%2710.0%
13-Sep210.0%271-0.4%
6-Sep2150.0%2720.7%Two Week Change
23-Aug140.0%270-0.7%(normally 1 week)
16-Aug140.0%2721.9%
9-Aug140.0%267-0.4%
2-Aug140.0%268-0.7%
26-Jul140.0%2701.1%
19-Jul140.0%267-0.7%
12-Jul140.0%2690.0%
5-Jul140.0%269
28-Jun14na
Scottsdale
27-Sep350.0%416-0.2%
20-Sep350.0%4171.2%
13-Sep350.0%4120.7%
6-Sep3525.0%4092.8%Two Week Change
23-Aug280.0%398-1.7%(normally 1 week)
16-Aug280.0%405-0.2%
9-Aug280.0%4061.0%
2-Aug280.0%402-2.4%
26-Jul280.0%4122.5%
19-Jul280.0%4020.0%
12-Jul28-20.0%4021.0%
5-Jul350.0%398
28-Jun35na
Stats from the The First American Title Market Report
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