– May 2016 Scottsdale Housing Market Video –
May 2016 – Video
Here is a one minute video overview of the Scottsdale, Arizona real estate market for the month of May.
Active Listings
This chart takes a look at the inventory of homes for sale in Scottsdale in May 2016.
When compared to the same time period in 2015, inventory is up 6%.
However, if you compare it to the previous month, the number of homes for sale was down by 3%.
Median Listing Price
The median list price is a marker that tells us the exact middle of home prices in Scottsdale. So half of the homes will be priced higher and the other half will be priced lower.
In May 2016, the median list price came in at $800,000.
It is up over $40,000 when compared to the median list price in May 2015.
Days on Market
Days on market (DOM) is a measurement of the amount of time it is taking homes to sell on average. A very high DOM indicates that a market is sluggish and conversely, a low DOM indicates a more robust market.
The average days on market for May 2016 was 101, which is unchanged from where this was the same time a year ago.
Median Sales Price for Scottsdale Homes
The median sales price, similar to the median list price, is the middle price where half of the homes sold for more and half sold for less.
In May 2016, the median sales price came in just over $491,000.
This is down a little bit from May 2015’s $500,000 median sale price, but up over April 2016’s $478,000 price.
Number of Homes Sold
This final section takes a look at home sales in May on a year-over-year basis as well as a month-over-month.
This top image is an annual comparison. May 2016’s sales were up 1% over May 2015’s home sales.
This lower image is a comparison of 2016 sales in April and May. As you can see, home sales were up 6% over last month.
We hope that you found this video and commentary helpful as you gather more information to make smart informed real estate decisions.
For more Scottsdale real estate information or if you have any questions about the local area, feel free to contact Joyce at (480) 209-7843 or Joyce@LiveBetterinScottsdale.com.
Click to watch other videos on our Live Better in Scottsdale YouTube Channel
Disclaimer: Data deemed to be accurate, but is not guaranteed.
