– July 2022 Scottsdale Housing Market Video –
Here is a one-minute video overview of the Scottsdale, Arizona real estate market that covers the month of July.
July 2022 – Video
Scottsdale Active Listings
Inventory has been on the rise for the past few months. This is great news for buyers ad we approach a more balanced market.
The number of homes for sale was up 68% in July when compared to July 2021. And it was up 6% between June and July of this year.
Median List Price for Scottsdale Homes
The median list price shows you the midpoint of home prices. Half of the home prices will be higher and half will be lower.
The median list price in July was $1.17 million. This is up very slightly from July 2021’s $1.15 million, but down from the previous month’s $1.25 million.
Days on Market
Days on Market (DOM) is a metric we consult to get a sense of how the market is doing. If you see a high number or the number is increasing, things are moving more slowly. If the DOM is low, homes are selling at a faster pace.
July’s DOM was 38 days. This is slightly higher than it was at the same time last year, but this is still a pretty low number.
Median Sales Price for Scottsdale Homes
Now we will take a look at the median sales price for July’s homes sales.
The median sales price of homes in Scottsdale in July was $1.06 million. Although it came in lower than June’s $1.1 million, it is well above July 2021’s $853K. Scottsdale and the Phoenix Valley saw significant price appreciation over the past year.
Number of Homes Sold
The final two images cover home sales activity.
Using a year-over-year comparison, home sales were down 48%. This is a big drop.
I would attribute this drop to slower summer activity paired with higher interest rates and an increase in the price of homes.
On a month-over-month basis, sales were down 36%. This is a pretty large drop from June.
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.
