Luxury Market Watch: Scottsdale & Phoenix Real Estate Update

Understanding the Luxury Market in Scottsdale and Phoenix

As of September 23, 2026, the luxury real estate market in the Valley, particularly in Scottsdale and Phoenix, is showing some interesting trends. With a focus on properties listed over $1 million, we’ll take a closer look at the numbers and what they mean for both buyers and sellers in this vibrant market.

Current Active Listings

In Phoenix, there are currently 4,069 active residential listings, with 467 of these priced over $1 million. Meanwhile, Scottsdale boasts 1,989 active listings, including a significant 362 homes priced between $1.5 million and $3 million and 291 homes listed above $3 million. This concentration of luxury properties in Scottsdale is noteworthy and indicates a thriving market for high-end buyers.

New Listings and Market Activity

In the past week alone, Phoenix saw 98 new listings, while Scottsdale added 78 new luxury listings. This influx suggests a healthy market, keeping inventory fresh for prospective buyers. In contrast, the luxury market in Scottsdale remains competitive, with numerous properties under contract—379 in Scottsdale and 663 in Phoenix.

What It Means for Buyers

For buyers in the luxury segment, the current landscape presents both opportunities and challenges. The number of active listings in Scottsdale indicates a robust selection, particularly in the $1.5 million to $3 million range. However, with many properties already under contract, buyers should be prepared to act quickly. Having a knowledgeable friend in the local market, such as our eXp Realty team, can greatly enhance your chances of securing your dream home.

What It Means for Sellers

Sellers in the luxury market should feel optimistic. The demand for high-end homes is evident from the number of properties under contract. With limited inventory, sellers have the upper hand in negotiations. Additionally, pricing strategies are critical; homes priced appropriately in the luxury market tend to attract serious buyers quickly. If you're considering selling, check out our home value estimator to gauge your property’s worth in this active market.

Market Trends and Insights

The luxury market in the Valley has shown resilience, even in fluctuating economic conditions. Scottsdale, in particular, remains a favored destination for affluent buyers seeking not just a home but a lifestyle. The amenities, proximity to outdoor activities, and cultural offerings make it a desirable location. Properties in Paradise Valley, known for their exclusivity, continue to garner interest, with 183 active listings reflecting a steady demand.

Final Thoughts

As we move further into 2026, keeping an eye on market trends is essential for anyone involved in the luxury real estate sector in Scottsdale and Phoenix. Whether you are a buyer looking for that perfect luxury home or a seller wanting to capitalize on the current market demand, understanding these dynamics can make a significant difference.

Disclaimer: The data provided is based on live ARMLS numbers as of September 23, 2026.

FAQ

What is considered a luxury home in Scottsdale?

A luxury home in Scottsdale is typically defined as a property priced over $1 million, with many high-end listings exceeding $3 million.

How competitive is the luxury real estate market in Phoenix?

The luxury market in Phoenix is competitive, with many properties receiving multiple offers, especially those in prime locations.

What are some exclusive communities in Scottsdale?

Notable exclusive communities in Scottsdale include Silverleaf, DC Ranch, and Paradise Valley, known for their luxury homes and amenities.