– September 2017 Scottsdale Housing Market Video –
September 2017 – Video
Here is a one-minute video overview of the Scottsdale, Arizona real estate market for the month of September.
Scottsdale Active Listings
We will start with the inventory of homes for sale in Scottsdale. This first image is comparing year-over-year. Inventory fell 12% when looking at September 2016 and September 2017.
This second image is also looking at the number of homes on the market, but this time as a month-over-month comparison.
Inventory was up 4% between the end of August and the end of September.
Median List Price for Scottsdale Homes
The median list price is the exact midpoint of the prices of homes for sale in Scottsdale. Half will be priced higher and half will be priced lower.
September’s median list price came in at $825,000. This is up from the same time in 2016, where the median list price was $769,000.
Days on Market
Days on Market (also known as DOM) is a measurement we use to get a sense of how hot or cold a market is. A low DOM indicates homes are moving quickly, whereas a high DOM can indicate a stagnated market where it takes longer for things to sell. (You will also see a higher DOM for the luxury market as there are fewer buyers for these homes and they subsequently take longer to sell.)
September’s days on market was 101, a 4% drop from September of 2016.
Median Sales Price for Scottsdale Homes
Now we will look at the median sales price. Here, half of the homes sold for over the median sales price and half sold for below that.
September’s median home sales price was $550,000. This is up over August’s $520,500 and up quite a bit over September 2016’s $494,500.
Number of Homes Sold
These last two images pertain to actual home sales in Scottsdale.
This first image is sales on a year-over-year basis. Sales were down 10% between 2016 and 2017.
Now we will look at sales on a month-over-month basis. We also saw a decrease here. Sales were down 15% when comparing September and August 2017.
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.
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Disclaimer: Data deemed to be accurate, but is not guaranteed.
