– February 2020 Scottsdale Housing Market Video –
February 2020 – Video
Here is a one-minute video overview of the Scottsdale, Arizona real estate market for the month of February.
Scottsdale Active Listings
Although the video says inventory was level, we saw another decline in the number of homes for sale. At the end of January, there were 1,233 homes for sale in Scottsdale. At the end of February, there were 1,179 homes for sale, a 4.4% decrease.
Median List Price for Scottsdale Homes
This next section takes a look at median list prices. If you are not familiar with median prices, they represent the exact midpoint of all prices. One half of the homes are priced higher and one half are priced lower.
February’s median list price was $1,250,000. Last year at the same time, this came in at $875,000. January’s median list price was $1,180,000.
Days on Market
Days on market is a quick and simple way to gauge the strength of the market. (It is commonly referred to as DOM.) If you see a low DOM, homes are selling faster. And, a high DOM means homes are taking longer to sell.
February’s DOM came in at 86 days. Last February the DOM was 95 days, so things were selling more quickly.
Median Sales Price for Scottsdale Homes
This next section covers median sales prices.
In February, the median sales price was $685,000. This comes in above last month’s $655,000 and well ahead of February 2019’s $585,000.
Number of Homes Sold
In this final section, we take a look at the homes that sold. Sales in February were strong so we saw some nice increases.
Sales saw a 21% increase between February 2019 and February 2020.
Additionally, we saw a 37% increase between January and February. January tends to be a bit slower coming off of the holidays, so it was nice to see sales activity bounce back in February.
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.
Interested in other stats for our market? Visit our Real Estate Market Update page.
Disclaimer: Data deemed to be accurate, but is not guaranteed.
