– January 2022 Scottsdale Housing Market Video –
Here is a one-minute video overview of the Scottsdale, Arizona real estate market that covers the month of January.
January 2022 – Video
Scottsdale Active Listings
The number of homes for sale continues to stay at record low levels. This is a major challenge for buyers who are fighting for so few homes. On the flip side, sellers continue to enjoy a sellers’ market.
Listed homes fell 38% between January 2021 and January 2022. There were less than 400 homes for sale at the end of the month.
Looking at inventory on a month-over-month basis, homes for sale were down 12% between December and January.
Median List Price for Scottsdale Homes
The median list price is the midpoint of home prices on the market. One-half of the homes are priced higher and one-half are priced lower.
January’s median list price came in at $1.5 million. This is on par with where it was in January of 2021 and up very slightly from December 2021’s $1.44 million.
Days on Market
Days on Market (also called DOM) gives you insight into how quickly or slowly homes are selling. It is a basic metric, but it can be helpful.
January’s DOM was 44 days. This is much lower than January 2021’s DOM of 77.
Median Sales Price for Scottsdale Homes
We saw the median list price and now we will look at the median sales price of Scottsdale homes in January.
January’s median sales price came in at $940,000. It was up slightly from the previous month’s $935,000 and well above January 2021’s $760,000.
Number of Homes Sold
This final section looks at home sales activity.
On top, we have a year-over-year comparison. The number of homes sold in January 2022 was down 21% from the prior year. I attribute much of this to the incredible lack of inventory plus the steep increase in home prices we have been seeing.
On the bottom, we have a month-over-month comparison. Sales were down 22%, however, we do see this seasonally as many people try to purchase before the end of the year.
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.
