<h2>Scottsdale, AZ: A Real Estate Market Overview</h2>
<p>In recent months, Scottsdale has witnessed a increase in property values and average sale prices per square foot. Average house values were $1,298,000 at the end of last month, a surge from the $1,100,000 back in December 2023. Similarly, per-square-foot values increased from $426 to $510 during the same period.</p>
<p><strong>Here is a year-over-year view of the market</strong></p>
<table class="sc-7568d94b-0 lffsHh">
<thead class="sc-7568d94b-1 fnNaKO">
<tr class="sc-7568d94b-4 fHMrnc">
<th class="sc-7568d94b-2 hTsliE"></th>
<th class="sc-7568d94b-2 hTsliE">May 2023</th>
<th class="sc-7568d94b-2 hTsliE">April 2024</th>
<th class="sc-7568d94b-2 hTsliE">Change</th>
</tr>
</thead>
<tbody class="sc-7568d94b-3 jhbPdf">
<tr class="sc-7568d94b-4 fHMrnc">
<td class="sc-7568d94b-5 sc-7568d94b-6 eqHQXK bfejLS">Median Listing Price</td>
<td class="sc-7568d94b-5 eqHQXK">$1M</td>
<td class="sc-7568d94b-5 eqHQXK">$857.7K</td>
<td class="sc-7568d94b-5 eqHQXK"><span class="sc-7568d94b-7 kxsCqf negative">-18.03%</span></td>
</tr>
<tr class="sc-7568d94b-4 fHMrnc">
<td class="sc-7568d94b-5 sc-7568d94b-6 eqHQXK bfejLS">Median Sold Price</td>
<td class="sc-7568d94b-5 eqHQXK">$818.4K</td>
<td class="sc-7568d94b-5 eqHQXK">$857.7K</td>
<td class="sc-7568d94b-5 eqHQXK"><span class="sc-7568d94b-7 kxsCqf postive">4.79%</span></td>
</tr>
<tr class="sc-7568d94b-4 fHMrnc">
<td class="sc-7568d94b-5 sc-7568d94b-6 eqHQXK bfejLS">Homes For Sale</td>
<td class="sc-7568d94b-5 eqHQXK">961</td>
<td class="sc-7568d94b-5 eqHQXK">90</td>
<td class="sc-7568d94b-5 eqHQXK"><span class="sc-7568d94b-7 kxsCqf negative">-90.63%</span></td>
</tr>
<tr class="sc-7568d94b-4 fHMrnc">
<td class="sc-7568d94b-5 sc-7568d94b-6 eqHQXK bfejLS">Homes Sold</td>
<td class="sc-7568d94b-5 eqHQXK">5,799</td>
<td class="sc-7568d94b-5 eqHQXK">5,491</td>
<td class="sc-7568d94b-5 eqHQXK"><span class="sc-7568d94b-7 kxsCqf negative">-5.31%</span></td>
</tr>
</tbody>
</table>
<p><a href="https://www.realtytrac.com/market-trends/scottsdale-az/">Sale prices</a> reflect a parallel uptick, growing from an average of $814,000 in December 2023 to nearly $858,000 by April 2024. Despite these figures, sold homes dropped from 5,621 to 5,491. Availability of properties has moved up and down: peaking at 865 in August 2023 and plummeting to a mere 60 by January this year.</p>
<p><img loading="lazy" decoding="async" class="aligncenter size-full wp-image-25653" src="https://nicautomation.wpengine.com/wp-content/uploads/2024/05/Scottsdale-homes-for-sale-May-2024.png" alt="" width="1441" height="610" /></p>
<h2>Comparative Analysis With Surrounding Cities</h2>
<p>Taking a look at the surrounding cities, Rio Verde, also saw an upswing in average values from $929,000 in April 2024 to $1,149,500 in March 2024, before descending to $859,000 in February. The average sold price per square foot has also fluctuated; Rio Verde declined from $378 in April 2024 to $305 in March, while numbers in <a href="https://www.realtytrac.com/market-trends/carefree-az/">Carefree</a> (a town with an interesting <a href="https://carefree.org/history">history</a>) increased from $411 to $406 during the same period.</p>
<p>Rio Verde and Carefree registered single-digit sale counts during certain months, a stark contrast to Scottsdale’s vibrant market activities.</p>
<h2>Scottsdale Real Estate In Focus: April 2024</h2>
<p>As of April 2024, average property values sat at $1,298,000 and an average sale price nearing $858,000. The sale price per square foot stands at an $416, although the current number of homes for sale available to local buyer suggests a more constrained selection for potential buyers, as there are a mere 90 listings at the time of writing this report.</p>
<p>Rio Verde’s average value at $929,000 with a per square foot value of $422, with a notably higher sale price of $905,000, hints at a sellers’ market due (only 4 homes for sale right now). Carefree, with an average value of $995,000 and a per square foot value of $385, resonates with the market strength seen in Scottsdale, with <a href="https://www.realtytrac.com/scottsdale-az/for-sale/">100 properties listed for sale</a>.</p>
<p>Fountain Hills and Cave Creek show contrasting pictures; a more approachable average value of $592,000 in Fountain Hills contrasts with the higher average value of $1,295,000 in Cave Creek. The sale prices in these areas, $700,000 in Fountain Hills compared to $787,000 in Cave Creek, underscore the range in regional real estate prices.</p>
<p>Paradise Valley stands out among its peers with a towering average value of $5,425,000 and a per square foot value of $802, accompanied by a solid sale price of $2,995,000. With a property count of 12 and a property sale count of 353, this city projects a highly exclusive and lucrative market segment.</p>


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