– November 2021 Scottsdale Housing Market Video –
Here is a one-minute video overview of the Scottsdale, Arizona real estate market that covers the month of November.
November 2021 – Video
Scottsdale Active Listings
Inventory continues to decline when we very much need to see it go up.
The number of homes for sale fell 21% between the end of October and the end of November. We closed out the month with only 490 homes for sale.
And if you compare November 2020 to November 2021, inventory is down 47%.
Median List Price for Scottsdale Homes
The median list price tells you the exact midpoint price of homes on the market. Half of the homes are priced higher and the other half are priced lower.
November’s median list price came in at $1.35 million. This is above October’s $1.2 million and also above November 2020’s $1.23 million.
Days on Market
This next chart is Days on Market. Days on Market (or DOM) is a way to gauge a market’s performance. When there is a high Days on Market figure, homes are taking longer to sell. Low Days on Market figures mean homes are selling more rapidly.
November’s DOM was 42 days. This is down 36% from last year at the same time.
Median Sales Price for Scottsdale Homes
Similar to the median asking price, the median sale price is the midpoint price for all of the homes that sold in November.
November’s median sales price came in at $876K. This is a little lower than October’s ($900K), but higher than November 2020’s $720K.
Number of Homes Sold
Now we will take a look at home sales activity.
This first image shows a year-over-year comparison. Home sales, while strong, were down 8% compared to November 2020. As I mentioned last month, I would attribute some of this decrease to very low inventory combined with price appreciation.
Here we are comparing sales activity on a month-over-month basis. Even though inventory was low, we saw a 13% increase in home sales between the two months.
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.
