Scottsdale Market 2021
For the city of Scottsdale, the market “pulse” of the New Year brings fervent energy to both Buyers and Sellers!
For Buyers:
- Reality is there are fewer listings on the market; it is the lowest supply count in over 20 years
- Demand for homes in Scottsdale has continued to accelerate; for the last six months of 2020, demand exceeded 35% above normal sales rate
- If you are looking in the price range of over $1m, luxury sales were up almost 49% Year over Year
- As a ripple effect of the above, New Home Builds are up over 24% Year over Year
- If you are looking to purchase, be ready and able to grab your piece of Scottsdale by having your finance plan worked out in advance, and a real estate agent that knows what they are doing
For Sellers:
- 2020 census ranked Arizona third for population growth (behind Texas and Florida)
- The largest source of inbound migration to Arizona is from our sister state, California
- Median home prices have risen almost 16% Year over Year, and rents have risen almost 13%, and with crazy low interest rates these factors are driving a higher demand to purchase
- With that expectation, home prices are projected to continue to rise throughout 2021 but possibly at a slower rate in the latter half of the year. It will be another great year for sellers.
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MELTON & CO is grounded in hard-earned industry Sales Experiences, fostered by our team of professionals who have worked for some of the largest Brokerage houses in the Valley, and we package and present these attributes with the highest-level of our “boutique” Client Services.
