– August 2021 Scottsdale Housing Market Video –
Sales cooled off a little in August compared to July. However, pending sales saw a nice uptick by the end of the month.
Here is a one-minute video overview of the Scottsdale, Arizona real estate market that covers the month of August.
August 2021 – Video
Scottsdale Active Listings
Scottsdale and Greater Phoenix are still struggling with low inventory levels and it looks like we will be in this position for a while.
At the end of August, there were 582 homes on the market, which is 47% lower than where we were last August. Also, the number of homes for sale was down 13% from July.
Median List Price for Scottsdale Homes
This next section looks at the median list price of homes in Scottsdale. The median price is where half of the homes are priced higher and the other half are priced lower.
August’s median list price came in at $1.2M, which is just slightly higher than July’s $1.15M and August 2020’s $1.18M.
Days on Market
Want to get a sense of how hot (or not) a given market is? Simply take a look at the Days on Market (DOM.) The DOM is a quick and easy metric to use.
In June, July and August, the DOM came in at 35 days. This is significantly lower than the 84 days we saw last August.
Median Sales Price for Scottsdale Homes
Now we will look at the median sale price of homes in Scottsdale in August. Similar to the median list price, half of the homes sold for a higher amount and the other half sold for a lower amount.
The median sale price was $860K. This is up slightly from July’s $853K and up sharply from August 2020’s $685K.
Number of Homes Sold
This last section looks at home sales on a year-over-year basis as well as a month-over-month basis.
Sales in August 2021 were down 10% from August 2020. I would guess this drop could be attributed to low inventory combined with higher home prices that may be keeping people out of the market.
We saw another decrease in sales activity between July and August. Sales were down by 7%.
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.
