– June 2016 Scottsdale Housing Market Video –
June 2016 – Video
Here is a one minute video overview of the Scottsdale, Arizona real estate market for the month of June.
Active Listings
The image on the left is the number of homes for sale at the end of June.
When comparing June 2016 to June 2015, 2016 was 7% higher in inventory.
But, if you look at the same information for end of May and end of June 2016, the number of homes for sale decreased by 11%.
Median Listing Price
This next image is the median asking price for Scottsdale homes on the market. The median is the midpoint of home prices and therefore half of all homes are priced higher and half of all homes are priced lower.
In June 2016, the median list price was a little over $788,000 in Scottsdale.
This represents a $43,000 increase over June 2015’s median list price.
Days on Market
Days on Market (DOM) is a measurement to show how long homes are staying on the market before selling. As you would expect, a low number of days on market means homes are selling quickly and, conversely, a high number of days on market means a slower market. (You will also tend to see the days on market increase as the prices of homes increase, thus luxury homes almost always have a longer DOM.)
In June 2016, the average days on market in Scottsdale was 104. This is up 6% from June 2015’s 98 days.
Median Sales Price for Scottsdale Homes
Much like the median asking price, this is the median sales price. Half of all Scottsdale homes were sold for higher prices and half were sold at a lower price.
The median sales price for June 2016 ended up at over $513,000.
This is higher than June 2015’s $475,000 median list price, but was slightly lower than May’s $519,900.
Number of Homes Sold
This last part covers home sales in June 2016 when compared to June 2015 and May 2016.
The first image is looking month-over-month in 2016. Home sales in Scottsdale in June were up 4% over May.
The next image is comparing June 2015 to June 2016. Again, sales were up in June 2016, to the tune of an 8% increase.
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.
