Scottsdale Housing Market Update

It’s safe to say the Scottsdale real estate market boomed in 2020. According to Redfin over the last 12 months housing prices have gone up 15% in Scottsdale. The average home value was $510,000 in the beginning of 2020 and now in March is at $630,000. Interest rates were below 3% for most of the year and are now just starting to rise past 3%.

The average days a house was on the market is down to 41 days in March of 2021 from 54 in January of 2020. So that leaves the question, what does the rest of 2021 look like for the Scottsdale market? Realtor.com’s most recent estimates say homes will jump another 11.4% over 2020’s levels.