85251 Market Report: Feb 2026
The pulse of Old Town Scottsdale. Data-driven insights for high-intent buyers and sellers.
Key Metrics at a Glance
As of February 19, 2026, the 85251 market is characterized by a "Balanced Action Index" of 34, suggesting that neither buyers nor sellers hold an overwhelming advantage.
+12.0% Year-over-Year.
Increasing as inventory builds.
Homes typically sell 3% under list.
Active listings in 85251.
Inventory & Absorption Trends
Inventory in 85251 has risen significantly (up **32.2%** year-over-year), giving buyers more leverage in negotiations than in previous cycles.
For Sellers
With homes taking 100 days to sell on average, patience and "presentation-first" marketing are non-negotiable. Strategic pricing is essential; homes priced at market value attract multiple offers, while over-market listings stagnate.
For Buyers
This is the best "choice environment" in 85251 since early 2023. Roughly **18.5%** of homes are still selling above list, primarily "turn-key" luxury condos in Old Town.
85251 Performance by Property Type
| Metric | Single Family | Condos / Townhomes |
|---|---|---|
| Median Price | $1,050,000 | $485,000 |
| Price per Sq Ft | $525 | $399 |
| Market Action | Slight Seller Advantage | Buyer/Balanced |
2026 Local Forecast
The 85251 market is expected to remain a top performer through the spring peak (March-May). Experts predict a 4% rise in median prices across 2026 as mortgage rates stabilize toward 6%.
Seasonal Demand Surge
The current "Peak Season" (October-March) is being driven by out-of-state relocation and second-home buyers. Expect inventory to be absorbed faster as we approach the final weeks of February.
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