Scottsdale, AZ housing market

Scottsdale sellers are cutting prices at a striking rate this month, even as values keep climbing. The typical home value is about eight hundred ninety thousand dollars, up roughly 3.4 percent over the past year. But look at what sellers are actually doing. Nearly 28 percent of active listings have taken a price cut. Homes are sitting around 69 days on market before selling. And there is a lot to choose from, about two thousand two hundred homes for sale, with roughly 560 new listings hitting in a single month. The median list price is about nine hundred fourteen thousand dollars, sitting a bit above where typical values are, which helps explain all those cuts. Sellers are aiming high, then giving ground when buyers do not bite. If you are selling in Scottsdale right now, the market is still rewarding realistic pricing and punishing wishful thinking. Price at the market from day one, because the sellers testing the top are the ones cutting a month later.