– October 2022 Scottsdale Housing Market Video –
Here is a one-minute video overview of the Scottsdale, Arizona real estate market that covers the month of October.
October 2022 – Video
Scottsdale Active Listings
We have seen the number of homes for sale go up month-over-month for the past several months, but things seem to be slowing down. Inventory was only up 4% at the end of October over September.
However, when you compare inventory to where we were at the same time last year, it is up by 97%. But keep in mind, Scottsdale was in desperate need of inventory a year ago.
Median List Price for Scottsdale Homes
This next section covers the median list price. The median price is where 50% of the homes are priced higher and 50% of the homes are priced lower.
The median list price for October came in at $1.25 million. This is pretty much where it was at this time last year and during last month, just slightly higher.
Days on Market
Days on Market, or DOM, is a way to quickly see how a real estate market is performing. It measures how many days it takes for homes to sell. A low number means a faster market and conversely, a high number means things are taking longer to sell.
Scottsdale’s Days on Market was 60. This is up 62% when compared to October last year.
Median Sales Price for Scottsdale Homes
Now we turn to the median sales price of homes in Scottsdale in October.
It came at $999K, which means half of the homes sold for a higher amount and the other half sold for a lower amount. It was higher than October 2021’s $900K and last month’s $950K.
Number of Homes Sold
This first image compares home sales in Scottsdale on an annual basis. Sales were down 36% when compared to October 2021. This makes sense as we have seen the market slow a bit from the frenzied days at the beginning of the year.
This next image compares the current month with last month. Sales were down 5% when compared to September 2022.
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.
