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Scottsdale Luxury Real Estate Market Update, May 2022

Eat, shop, play, and enjoy all that Scottsdale has to offer for May 2022!

The Scottsdale luxury real estate market continues to break sales records with prospective buyers from across the country vying for homes in Arizona’s most talked about neighborhoods. With buyer demand continuing to soar, this white hot market remains a sellers’ market, and shows no signs of slowing.

According to the Market Action Index, in May 2022, the median price of new Scottsdale home listings was $1,249,500, and the median rental price was $5,495 per month, which represents a 3% price increase over the previous month. The price per square foot for a high-end home in the Scottsdale area is $496.

The demand for luxury family homes in the Scottsdale area remains high, with homes staying on the market for an average of 49 days. Just under 300 homes are currently available in Scottsdale, and surrounding neighborhoods like Paradise Valley, making this one of the most competitive luxury real estate markets in the nation.

Scottsdale’s family-friendly communities, access to world-class restaurants, parks, hiking trails, and top private and public schools, continue to propel this real market forward, and analysts are confident that the Arizona luxury real estate market will remain strong for years to come.

As we enter spring, arguably the most beautiful time of year in Scottsdale, the city comes to life with outdoor activities for all ages. From cultural experiences, to community guided nature walks, the acclaimed restaurant week, and summer concert series, just to name a few, Scottsdale residents have a lot to look forward to this May!

Take a look at these family-focused Scottsdale events happening around town.

May 2022 Events in Scottsdale

May 1st – 29th

Sundays at the Railroad Park returns for the always popular summer concert series.
Admission is free to this month-long event that takes place Sunday evenings from 7:30 – 9pm.
Train and carousel rides are available for the kids, so bring the entire family, and kick back and enjoy these beautiful Scottsdale evenings!

May 7th, Kentucky Derby Lawn Party

Kentucky Derby Lawn Party, presented by the Scottsdale Fairmont Princess, a luxury five- diamond resort in the heart of North Scottsdale, is a Southern-inspired Derby watch party complete with cold mint julips, a live DJ, lawn games, and traditional, Southern food favorites.

Mini + Me Mother’s Day workout class hosted by Kendra Scott and barre3 at Scottsdale’s premiere outdoor dining, shopping and entertainment space, the Scottsdale Quarter. The event includes free fresh-pressed juices from organic juicery, Pressed, exciting giveaways, and more. Class is complementary and begins at 9:30am.

May 8th, Mother’s Day in Scottsdale

Treat mom to a special afternoon by taking her to one of the best Mother’s Day brunches in Scottsdale, or take her for a day of pampering at a world-class spa. If mom is more of an outdoors type, grab the kids and hit one of Scottsdale’s beautiful hiking trails.

May 10th

A Taste for Art brings together the culinary arts and contemporary art at Lon’s Hermosa Inn, in Paradise Valley. This special event is a collaboration between Western Spirit: Scottsdale’s Museum of the West and the Scottsdale Artists’ School, and features an art lecture by renowned art historian Dr. Betsy Fahlman, an hors d'oeuvres reception, and an intimate, art- inspired dinner.

May 11th – May 15th

Scottsdale Fashion Week, one of Scottsdale’s most celebrated fashion events, returns to the Scottsdale Entertainment District with a series of runway and trunk show events. Nationally and internationally known designers will showcase the season’s newest high-end luxury fashion looks.

May 20th -29th

Arizona Restaurant Week gives residents an opportunity to enjoy specially prepared three-course menus at some of the most popular restaurants in the state. Whether you’re looking for that perfect family night out, or a romantic dinner, restaurant week has something for every Scottsdale resident.

May 21st

etta, a Scottsdale neighborhood favorite for wood-fired pizzas and homemade focaccia, is hosting their first ever Pups on the Patio event! Hosted by Tito’s Handmade Vodka, the afternoon should be pup-tacular!

Spring Butterfly Hike at Butterfly Wonderland is a free nature hike that takes hikers through breathtaking desert trails in search of some of the state’s most beautiful butterflies. Donations benefit the Central Arizona Butterfly Association.