Scottsdale, AZ Real Estate Market

Sellers in 85259 are in a strong position, as homes are closing well above the median list price of $1,385,000 with a median sale price reaching $1,710,000. The relatively low days on market of 29 suggests that properly priced listings are attracting serious buyers without sitting long.

Buyers should be prepared to offer above asking price in this market, given that the median sale price of $1,710,000 is substantially higher than the median list price of $1,385,000. With 267 active listings available, there is reasonable selection, but moving decisively will be important as homes are averaging only 29 days on market.

At a median rent of $2,495 and a median sale price of $1,710,000, the gross rental yield on a typical purchase in this zip code is quite thin, making cash flow a challenge for most investment strategies. Investors focused on appreciation in this high-end Scottsdale submarket may find more opportunity, particularly in larger homes where 4-bedroom rents reach $5,100 and 5-bedroom rents reach $6,295.

The current 30-year fixed mortgage rate of 6.00% and 15-year rate of 5.43% represent a meaningful cost of capital, particularly on a $1,710,000 purchase where financing differences add up quickly. Buyers who can qualify for a 15-year term or bring larger down payments will benefit from the lower rate and reduced long-term interest costs.