– December 2017 Scottsdale Housing Market Video –
December 2017 – Video
Here is a one-minute video overview of the Scottsdale, Arizona real estate market for the month of December.
Scottsdale Active Listings
This first image shows in the inventory of homes for sale in December 2016 in comparison with the same time frame in 2016.
Inventory fell by 16% between the end of 2016 and the end of 2017, finishing off the year with less than 2,000 homes for sale in Scottsdale.
This next image also shows the number of homes per sale, but on a month over month basis.
Inventory was down 9% between the end of November and December. This is a dip we tend to see annually as many home listings are set to expire on December 31st.
Median List Price for Scottsdale Homes
The median list price is the absolute middle of home prices in that exactly half of the homes are priced higher and half of the homes are priced lower.
The median list price of Scottsdale homes in December was $919K. This is up almost $90K over December 2016.
Days on Market
Days on Market is often referred to DOM. It is a quick and easy way to determine the health of a market or a segment of the market. A high DOM indicates that homes are taking longer to sell whereas a low DOM means homes are selling more quickly.
December 2017’s DOM was 94. This was down 10% from December 2016’s 104 days.
Median Sales Price for Scottsdale Homes
Just like the median list price, the median sales price represents the amount that falls into the middle of all home sales prices.
December’s median home sales price was $555K. This is up $60K over December 2016’s $495K and is up slightly over November 2017’s median sales price of $537,500.
Number of Homes Sold
These last two images show home sales activity for Scottsdale homes.
Home sales were up 5% between December 2016 and December 2017.
And if we look at sales activity between November and December 2017, sales were up by 1%.
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.
Love the video update format. Always find these comparative, reflective reports useful. Looking forward to seeing how the first month of 2018 reports out.