When you think it’s time to sell your Phoenix home, you’ll want to make sure all the factors are ready and ripe for you to maximize your property value. Arizona has seen a relatively strong real estate market for homeowners looking to sell in the last few years. And while high offers aren’t always guaranteed, real estate trends for Scottsdale, AZ in June 2022 can be a good indicator for homeowners on the potential success of selling their home.
Scottsdale, AZ’s real estate market has been fortunate enough to weather out the last few years of the pandemic. And with its strong economy, good cost of living, and many other features that many types of buyers flock to, it’s no surprise that now is the best time to sell. Here are a few trends in the market that can affect the demand for properties in Scottsdale, AZ.
Many People Are Flocking to Scottsdale
Scottsdale’s real estate market is currently in favor of sellers as the number of houses in affordable but quality areas like Scottsdale isn’t enough to keep up with demand. If factors like your house’s condition and location are ideal, you can afford to ignore the lowball offers and wait for more serious offers as buyers clamor for houses in the market.
There are many reasons why more people are flocking to cities in Maricopa County, including Scottsdale. From the economic advantages to the pleasant weather and even job possibilities for young professionals, to competitive school zones for families searching for a safe and convenient place to raise children, there are plenty of options. There’s definitely a high demand for Scottsdale properties from diverse backgrounds.
Market Trends Favor Homeowners
By the end of 2021, property values in Scottsdale are starting to see an increase – especially in large family homes. Scottsdale is filled with single-family detached family homes, so those with three to four-bedroom homes are likely to see plenty of buyers from growing families.
Because of the competitiveness of buyers, homeowners with choice properties in good locations find that their home stays on the Scottsdale market for as little as 15 days before receiving offers. Add the 35 to 45-day closing period, and those with high-value homes can find themselves closing the deal in as little as two months on the market.
However, this is usually for exceptional homes in Scottsdale with high demand. For Arizona, the average time it takes to receive an offer is around 33 days back in 2021. Combined with the 45-day closing, the average seller on the market can take around nearly 90 days to sell.
House Prices in Arizona Are Increasing
Back in August 2021, Scottsdale’s real estate market saw house prices soar up 25.7% from the previous year. At the time, the median price of a home in Scottsdale was at $715,000. As of 2022, homes had an average selling price of $1.1 million.
What this means for homeowners is that the real estate market – at least, in the foreseeable future – is continuously growing and becoming more competitive. It’s likely that the market is the lowest it’s ever going to be for a while as it’s only expected to continue to climb. If you’re willing to take the risk and wait out for a better offer, you may be rewarded. But if you’re willing to bank on the growth now, you certainly won’t be at a loss. However, keep in mind that factors like location and the quality of your home can have a significant effect on whether you get market (or below-market) offers.
Need to Learn More?
Market trends suggest that, if you’re planning to sell your Scottsdale home within the second half of 2022, you can take advantage of the strong real estate market. However, there’s no guarantee that you’ll get to sell your house fast or get the best offers on the market, as there are plenty of factors that can affect how well you can sell your home.
For a fast and convenient home selling experience, there’s United Home Offer. We buy houses in Scottsdale, AZ for a fair market price. Why deal with the home improvements, cold offers, and uncertainty of selling at the market, when our team is ready with fair and flexible solutions to make your sale faster. Contact us today to learn more about selling to a reliable cash home buyer in your area.