Scottsdale, AZ 85251 Real Estate Market Report

ZIP Code: 85251
Report Date: February 2026
Market Temperature: NEUTRAL
Scope: Single-Family Residential (SFR) listings and comps only

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Executive Overview

As of February 2026, the real estate market in Scottsdale, AZ (ZIP: 85251) is characterized by a median sold price of $757,450, reflecting a stable market environment. The neighborhood has decreased 8% since 2022, indicating a shift in buyer sentiment and potential pricing adjustments. The median listing price stands at $998,749.50, suggesting a notable gap between seller expectations and actual transaction values, which may contribute to slower sales velocity in the market.

Current market conditions show median days on market at 184, signaling a slower transaction pace and potential pricing friction. Elevated inventory levels are present, with excess supply relative to sales activity, which may further influence market dynamics. Despite these challenges, the median market rent remains high at $3,140, although it has experienced a slight year-over-year decrease, suggesting a cooling trend in rental demand. Overall, the market appears to be transitioning towards balanced conditions, with seasonal demand still active.

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Market Overview

This analysis is based on a sample of properties from this ZIP code (up to 200 sold properties and up to 100 active properties). The median prices below are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

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Market Metrics

Note: The property counts shown above represent only the properties analyzed in this report sample, not the total inventory for this ZIP code. Median prices are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

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Rental Market

Note: The relationship between property values and rental rates reflects different market dynamics. Higher-priced properties may have lower rental yields due to factors such as luxury market positioning, owner-occupancy preferences, or long-term appreciation strategies rather than immediate rental income maximization.

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Property Taxes

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Liquidity & Velocity

Note: A Sale-to-List Ratio near 100% can occur when properties sell at or near their final listing price after price adjustments during the listing period, even when initial listing prices differ significantly from sale prices.

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Market Trends & Context

Understanding Market Temperature

A Neutral market indicates balanced conditions where neither buyers nor sellers have a strong advantage, typically characterized by flat price trends, extended but stable days on market, and moderate inventory relative to sales.

Current Mortgage Rate Context

Market-level mortgage rate comparison for this area:

Current 30-year fixed mortgage rates in the Scottsdale AZ 85251 market are around 5.875% to 6.375%, which is lower than the national average of 6.17% to 6.26% seen in mid-February 2026.

Note: Interest rate comparisons provide market context. The existing "Interest Rate Pressure" metric above shows the qualitative market impact.

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Key Findings

1. The median sold price of $757,450 indicates a significant gap compared to the median listing price of $998,749.50, reflecting potential pricing friction in the market.

2. With median days on market at 184, the market is experiencing slower sales velocity, which may suggest a need for price adjustments by sellers.

3. Elevated inventory levels indicate excess supply relative to sales activity, which may pressure prices further in the near term.

4. The median market rent of $3,140 has decreased year-over-year, signaling a potential softening in rental demand despite remaining high relative to national averages.

5. Current interest rates for 30-year fixed mortgages are lower than the national average, which may provide some relief to buyers facing moderate interest rate pressure.

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Notable Properties

The following 8 properties represent notable market examples and recent transactions that illustrate key market dynamics. These are illustrative examples selected for their significance (top sales, market benchmarks, quick sales) and are not the basis for the statistical calculations shown above.