Quick Video Update of the Scottsdale Real Estate Market – January 2017

– January 2017 Scottsdale Housing Market Video –

January 2017 – Video

Here is a one minute video overview of the Scottsdale, Arizona real estate market for the month of January.

 

Active Listings

Here is a look at the number of homes that were on the market in January 2017, in comparison to January 2016. Inventory is down 9% from the previous year.

 

 

 

 

This is the same metric, but in this case, it is looking at the number of homes for sale in January 2017 versus December 2016. It was up 3%, which is common to see at the beginning of the year as people tend to put their homes on the market at that time.

 

 

 

 

Median Listing Price

The median price means that exactly half of the homes are priced higher and half of the homes are priced lower.

Here we are taking a look at the median asking price of homes in January 2017.  It came in at $889,000, which is significantly higher than the $799,000 we had in January 2016.

 

 

Days on Market

Days on Market (DOM) is a measurement that tells you how long it is taking homes to sell. Higher DOMs indicate a slower market and low DOMs mean inventory is selling quickly.

In January 2017, the average DOM was 106 days. This is down 2% from the same time last year.

 

 

Median Sales Price for Scottsdale Homes

Here we are looking at median sales prices, where half of the homes sold for a higher price and half of the homes sold for a lower price.

In January 2017, it came in at just under $504K. This is up over December’s almost $493K, but down from last year’s almost $513K.

 

 

Number of Homes Sold

These last images are looking at Scottsdale home sales.

Sales in January 2017 were up a very impressive 30% over January 2016. Since January tends to be a pretty quiet month, this is a strong performance.

 

 

 

 

Here we are looking at month-over-month sales. Sales activity in January was down 8% over December’s.

 

 

 

 

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.