The Scottsdale housing market is showing balanced conditions with stable prices and moderate inventory levels. Home prices have decreased 4.4% in the past month. With 4.9 months of supply, Scottsdale's inventory levels remain relatively tight. Homes are taking about 68 days to sell, which is 1 days longer than this time last year. A significant 32.0% of listings experienced price reductions, indicating sellers may be adjusting to market realities. Only 4.8% of properties sold above asking price, giving buyers more negotiating power. Affordability remains a significant challenge in the Scottsdale market with the affordability index at 21.5. Based on current market indicators, home prices in Scottsdale are projected to decrease by approximately 46.2% over the next month.