– January 2023 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 2023 – Video
Scottsdale Active Listings
Once again, we saw a huge increase (164%) in the number of homes for sale when compared to the same time last year. However, last January, we were experiencing some of the lowest levels of homes for sale we have seen. We are still not back up to where we were numbers-wise pre-pandemic.
On a month-over-month basis, the number of homes for sale at the end of January was up 7% over December.
Median List Price for Scottsdale Homes
The median listing price is the exact midpoint of listed home prices. Half of the homes are priced higher and half of the homes are priced lower.
In January, the median listing price in Scottsdale was $1.35 million. While this is down from last January’s $1.5 million median list price, it is higher than December 2022’s median listing price of $1.25 million.
Days on Market
Days on Market (DOM) is a quick and high-level way to gauge the health of a real estate market. When the DOM is high, homes are taking longer to sell. When the DOM is low, homes are selling at a faster pace.
In January, the Days on Market was 76. This is up 73% from January 2022’s 44 days.
Median Sales Price for Scottsdale Homes
We talked about the median listing price at the beginning of this post and now will examine the median sales price.
Scottsdale’s median sales price in January was $925,000. This is lower than January 2022’s $940,000 as well as lower than December’s $929,000.
Number of Homes Sold
Finally, we will take a look at the number of homes sold.
The number of homes that sold in January was the lowest we have seen in a very long time. Typically, January is a quieter month, but the slowdown in the market really did not help the sales numbers.
205 homes sold in January. This is almost half of what sold in January 2022.
And looking month-over-month, sales were down 15%.
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.
