Should I Buy Now or Wait? What Scottsdale's Luxury Market Is Actually Telling You

By Jennifer Keene | REALTOR® | eXp Realty Luxury | Scottsdale, Arizona Published: May 1, 2026

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It's the question I hear more than any other right now: "Should I buy now, or wait?"

I get it. Mortgage rates have been unpredictable, inventory is shifting, and nobody wants to make a million-dollar mistake. But here's what I tell every buyer who asks me this — the perfect time to buy doesn't exist. What does exist is the right home, the right price, and the right strategy for your situation.

Let me tell you what the data is actually showing in Scottsdale's luxury market right now.

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The Market Has Normalized — And That's Good News for Buyers

If you were trying to buy in 2021 or 2022, you remember what that felt like. Homes selling in under 20 days, multiple offers, waived inspections, and prices climbing month after month. That frenzy is over.

Today in Scottsdale, homes are sitting on the market an average of 45 to 60 days. That is not a sign of a crashing market — that is a sign of a healthy one. You have time to think. You have room to negotiate. Roughly 35 to 45 percent of listings are seeing at least one price reduction before going under contract, which means motivated sellers are out there, and overpriced homes are being corrected by the market.

In the 85255 zip code — North Scottsdale, DC Ranch, Silverleaf, Troon — the median sale price is sitting around $1.675 million. Luxury properties here are holding value and, in the right neighborhoods, still seeing upward pressure. In February of this year, a home in Silverleaf at DC Ranch closed at $11.5 million. The high end of this market is not going anywhere.

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What Waiting Actually Costs You

A lot of buyers think waiting for rates to drop is a smart move. Sometimes it is. But here's the reality: rates are unpredictable, and nobody — not your lender, not your financial advisor, not me — can tell you with certainty when or by how much they'll fall.

What I can tell you is that home values in North Scottsdale are forecast to appreciate 4 to 6 percent annually through 2026. If you're looking at a $1.5 million home today, that's a potential $60,000 to $90,000 in appreciation per year you could be sitting out while you wait for a rate that may never materialize. You can always refinance. You can't go back and buy the home you passed on.

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What Sellers Need to Know Right Now

If you're a seller, the days of listing at any price and watching offers pile up are over. That matters. Homes priced within 2 to 3 percent of actual market value are selling in 30 to 45 days. Homes that are overpriced are sitting — sometimes for 90 days or more — and eventually taking reductions that put them right back where they should have started.

In this market, your list price is your strategy. Get it right from day one, and you attract serious buyers. Get it wrong, and you're chasing the market down.

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My Take on Where We Are

This is not a scary market. It's a rational one. Buyers have more leverage than they've had in years. Sellers who price correctly are still selling — and at 96 percent of asking price on average in the Scottsdale area. That's a strong number.

What I see in 85255 and 85260 every week tells me that the buyers who are moving decisively on well-priced, well-located homes are winning. The buyers who are waiting for a perfect scenario that doesn't exist are watching good properties go to someone else.

If you're thinking about buying or selling in North Scottsdale this year, let's have a real conversation about what the market looks like for your specific situation. No pressure. No fluff. Just the numbers and a clear strategy.

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Jennifer Keene REALTOR® | eXp Realty Luxury Scottsdale, Arizona Serving 85255, 85260, Paradise Valley, Cave Creek, Carefree & Greater Phoenix

📞 Call or text to schedule a consultation 🌐 jen-keene.com

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Market data sourced from Scottsdale REALTORS®, Redfin, Zillow, and regional market reports. May 2026.