{"id":46190,"date":"2024-07-26T15:17:40","date_gmt":"2024-07-26T22:17:40","guid":{"rendered":"https:\/\/www.homelight.com\/blog\/?p=46190"},"modified":"2026-04-06T00:42:58","modified_gmt":"2026-04-06T07:42:58","slug":"home-values-in-scottsdale","status":"publish","type":"post","link":"https:\/\/www.homelight.com\/blog\/home-values-in-scottsdale\/","title":{"rendered":"Home Values in Scottsdale: Market Trends and Tips"},"content":{"rendered":"

Are you curious about home values in Scottsdale’s competitive real estate market? Understanding your home’s value is key whether you’re thinking about selling or getting rid of PMI<\/a>.<\/p>\n

In this article, we\u2019ll discuss the latest trends in home values in Scottsdale, explain how to get a reliable home value estimate<\/a>, and provide tips to boost your home’s value. We\u2019ll also highlight useful tools to help you maximize your home’s potential when it\u2019s time to sell.<\/p>\n\n\n\n\n\n

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\n \"homelight\n <\/div>\n \n

Already Own a Home? What's It Worth Now?<\/h3>\n

Home values have rapidly increased in recent years. How much is your current home worth now? Get a ballpark estimate from HomeLight’s free Home Value Estimator.<\/p>\n \n

\n Get Estimate<\/a>\n <\/div>\n <\/div>\n<\/div>\n\n\n

Editor\u2019s note: This post is for educational purposes and is not intended to be construed as financial advice. HomeLight always encourages you to consult your own advisor.<\/em><\/p>\n

<\/div>\n

Current home values in Scottsdale<\/h2>\n

Since 2020, the median home value in Scottsdale has shot up 41%. At the beginning of the decade, the typical home sold for $560,000. As of June this year, that number has climbed to $850,000, based on data from Phoenix Realtors and Scottsdale Realtors.<\/p>\n

\u201cMany new employees are coming from outside greater Phoenix,\u201d Sheryl Bowden, board president of Phoenix Realtors, told the Queen Creek Sun Times in a recent interview<\/a>.<\/p>\n

\u201cHousing demand will increase with their arrivals. Phoenix, Scottsdale, Peoria, and Surprise will be most impacted, as the data shows that the market is changing in those areas.\u201d<\/p>\n

The table below shows the sharp rise in home prices in Scottsdale over the past four years:<\/p>\n\n\n\n\n\n\n\n\n
Year<\/td>\nMedian home price<\/td>\nPercent change year-over-year<\/td>\n<\/tr>\n
2024 (June)<\/a><\/td>\n$850,000<\/td>\n+4.4%<\/td>\n<\/tr>\n
2023 (annual)<\/a><\/td>\n$795,000<\/td>\n-1.9%<\/td>\n<\/tr>\n
2022 (annual)<\/a><\/td>\n$810,000<\/td>\n+18.0%<\/td>\n<\/tr>\n
2021 (annual)<\/td>\n$686,250<\/td>\n+22.54%<\/td>\n<\/tr>\n
2020 (annual)<\/td>\n$560,000<\/td>\n+15.46%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Source: Phoenix REALTORS\u00ae<\/a>, Scottsdale REALTORS\u00ae<\/a><\/em><\/p>\n

This trend isn’t just happening in Scottsdale; it’s a nationwide phenomenon. According to the Case-Shiller National Home Price Index, U.S. home prices have surged by 47%<\/a> since early 2020. This increase has significantly boosted homeowner equity<\/a>, allowing many to invest in new properties, renovate their homes, pay off debt, or save for retirement. ICE Mortgage Technology’s Mortgage Monitor Report indicates that, as of early 2024, the average homeowner with a mortgage now has $299,000<\/a> in home equity.<\/p>\n

For comparison, the table below shows median home prices in certain neighborhoods within Scottsdale and some surrounding suburbs:<\/span><\/p>\n

Arcadia$1,500,0005-9 min (2.6 miles)<\/p>\n\n\n\n\n\n\n\n\n\n
City<\/td>\nMedian home price<\/td>\nDistance from Scottsdale city center<\/td>\n<\/tr>\n
Old Town Scottsdale<\/td>\n$600,000<\/td>\n4 min (0.2 miles)<\/td>\n<\/tr>\n
South Scottsdale<\/td>\n$556,000<\/td>\n4-7 min (1.2 miles)<\/td>\n<\/tr>\n
Paradise Valley<\/td>\n$3,200,000<\/td>\n7-12 min (3.6 miles)<\/td>\n<\/tr>\n
McCormick Ranch<\/td>\n$851,500<\/td>\n8-16 min (5.4 miles)<\/td>\n<\/tr>\n
North Scottsdale<\/td>\n$1,399,300<\/td>\n20-35 min (16.8 miles)<\/td>\n<\/tr>\n
Fountain Hills<\/td>\n$700,000<\/td>\n26-40 min (19.5 miles)<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Home value averages of multiple public transaction sites\u00a0<\/span><\/i><\/p>\n

Typical travel times 8 a.m. midweek<\/span><\/i><\/p>\n

Up next, we\u2019ll discuss how to estimate your Scottsdale home\u2019s current market value.<\/p>\n","protected":false},"excerpt":{"rendered":"

Discover the latest trends in home values in Scottsdale. Explore ways to maximize your property\u2019s worth with expert guidance.<\/p>\n","protected":false},"author":360,"featured_media":46191,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"content-type":"","cybocfi_hide_featured_image":"","footnotes":""},"categories":[320,1249,330],"tags":[1251],"class_list":["post-46190","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-add-value","category-arizona-real-estate","category-house-value","tag-selling-a-house-in-phoenix-metro-area"],"acf":[],"yoast_head":"\nHome Values in Scottsdale: Market Trends and Tips<\/title>\n<meta name=\"description\" content=\"Discover the latest trends in home values in Scottsdale. 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