– November 2022 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 2022 – Video
Scottsdale Active Listings
While a 109% increase in the number of listings between November 2021 and November 2022 seems like a lot, Scottsdale was actually experiencing incredibly low levels of homes for sale a year ago. So, while we are up, we are closer to a more ‘normal’ listing market.
And, the number of homes for sale actually fell by 10% in November compared with where they were at the end of October.
Median List Price for Scottsdale Homes
The median listing price is the midpoint price of all of the homes on the market where half have higher price and half have lower prices.
In November, Scottsdale’s median listing price came in at $1.27 million. This is a little above last month’s $1.2 million and lower than last November’s $1.3 million. In fact, this is the first time I have seen the median listing price fall on a year-over-year basis in a long time.
Days on Market
Days on Market, commonly abbreviated as DOM, allows you to get a quick assessment of a market’s performance. It measures how long it is taking homes to sell in a particular market or category. The higher the DOM, the slower the market and the lower the DOM, the market is moving at a faster pace.
The DOM for Scottsdale in November was 60. Last year at this time, the DOM was 42, a 43% difference year-over-year.
Median Sales Price for Scottsdale Homes
This section looks at the median sales price, where half of the homes sold for higher or lower.
November’s median sales price in Scottsdale was $980K. This is up almost $100K from last November, but down slightly from October’s $999K.
Number of Homes Sold
The number of homes sold in Scottsdale in November gave us our lowest-performing month in the past year.
On a year-over-year basis, home sales were down 45%. This is due to things like seasonality combined by rising interest rates and higher home prices.
On a month-over month basis, home sales fell by 3%.
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.
