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Current housing market in Scottsdale AZ - October 2024

The current housing market in Scottsdale, AZ, is characterized by moderate growth and a balanced dynamic between buyers and sellers. The median home price is around $825,000, reflecting a 3.1% increase compared to last year. Homes in Scottsdale typically stay on the market for about 29-71 days, indicating brisk but not overly competitive sales activity. Sellers are generally achieving 97-98% of their asking prices, suggesting fair value without the aggressive bidding wars seen in hotter markets.

For buyers, there is an increase in inventory, providing more options and reducing the pressure of a seller’s market. For sellers, the market remains favorable, particularly in the entry-level segment (homes priced between $500,000 and $700,000), which continues to experience strong demand. Price appreciation is expected to continue, albeit at a slower pace than in previous years​.

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