Scottsdale, Arizona Luxury Home Market Update For April 2018.

The inventory of homes was down in April to 234,900 compared to March which was at 250,900. This means that buyers waiting to buy had a smaller selection to choose from.

In April of 2017 the median price for a home in Scottsdale was $789,000. In April of 2018 the median price is now at $849,000. Last year the number of days a unit was on the market before being sold was 106, this year the average unit is spending 87 days on the market. This 18% decline signals a positive trend on the inventory turnover rate.

The number of homes sold in April of 2018 increased 16% from this time last year. These figures indicate buyers are taking advantage of opportunites in this market.