Should I Buy a Scottsdale Condo Now or Wait

It’s one of the most common questions we hear, and the honest answer is: it depends on your situation. But understanding where the Scottsdale condo market stands right now can help you make a more informed decision.

Where the Market Stands Today

The Scottsdale condo market has shifted meaningfully from the frenzied pace of a few years ago. With months of inventory currently sitting at 5.3 and average days on market at nearly 97 days, we are firmly in balanced-to-buyer-friendly territory. This is a significant change from the ultra-competitive conditions of 2021 and 2022, and it creates real opportunities for buyers who are paying attention.

Median prices have remained relatively resilient — currently around $495,000 — but the days of sellers receiving multiple offers over asking price within hours are largely behind us. Well-priced, move-in ready condos in desirable locations still move, but overpriced listings are sitting, and motivated sellers are negotiating.

What About Interest Rates?

The 30-year fixed mortgage rate is averaging around 6.51% as of late May 2026. That’s not the sub-3% environment buyers enjoyed in 2021, but it’s also not the peak we saw in prior years. Rates have been volatile and are expected to remain in the mid-6% range for the foreseeable future. Waiting for dramatically lower rates is a gamble — and in the meantime, you’re building no equity.

Should Buyers Wait?

There’s never a perfect time to buy, and trying to time the market is notoriously difficult. Here’s what we know: inventory is up, sellers are more negotiable than they’ve been in years, and prices have stabilized. For second-home buyers who want to enjoy Scottsdale winters, every season you wait is another season in a hotel or high priced VRBO. For first-time buyers, renting means continuing to pay someone else’s mortgage while missing out on equity building.

That said, if your financial situation isn’t quite ready — down payment, credit, job stability — waiting to get those pieces in place is always the right call.

Let's Make a Deal

The current market is genuinely favorable for buyers willing to do their homework. With nearly 97 days average on market, there are plenty of listings where sellers are feeling the pressure. We can help you identify condos with long days on market, price reductions, or special circumstances that make a seller more motivated — often translating to 5–10% off asking price. Whatever your goals, we can tailor our search and negotiation strategy to fit.

Contact us to talk through your situation and find out what’s possible in today’s market.

Information in this article has been obtained from sources believed to be reliable but is not guaranteed.