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Scottsdale, Arizona Luxury Home Market Update For June 2018

The active number of listings decreased by 17% in June of 2018 with 1.932K versus June 2017 with 2.321K listings. The active listings are also down from the previous month of 2.182K in May 2018. This could mean there were less options for buyers both in the past year and past month.

The median unit listing price for the month increased from $749.5K in June 2017 to $817K in June 2018. The average number of days units spent on the market before being bought also decreased 14% since June 2017 with 107 days compared to June 2018 with 92 days. The decreased number of days units spent on the market could indicate a positive trend in the local inventory turnover rate.

The median sale price of the units in June 2018 was $560K which was an increase both in the last year and last month. The number of units sold has also increased in the past year, from 582 units to 645 units but decreased 7% in the past month.