– February 2023 Scottsdale Housing Market Video –
Here is a one-minute video overview of the Scottsdale, Arizona real estate market that covers the month of February.
February 2023 – Video
Scottsdale Active Listings
Active listings were up significantly when compared with February 2022. This 157% increase shows you how few homes were on the market at this time last year. And even though the number of homes for sale is up, we are still running at a lower level than normal.
Plus, when you look at the end of February 2023 compared to the end of January 2023, the number of homes for sale actually decreased by 5%.
Median List Price for Scottsdale Homes
If you are not familiar with the median listing price, it is the price where 50% of the homes for sale have higher prices and 50% of the homes for sale have lower prices.
Scottsdale’s median listing price in February was $1.4 million. This is up slightly from January’s $1.35 million, but quite a bit lower than February 2022’s $1.6 million when significant demand was causing prices to rise.
Days on Market
This next section looks at how long it is taking homes to sell on average. When Days on Market (DOM) is high, the market is moving at a slower pace, But when the DOM is low, homes are selling more quickly.
Scottsdale’s Days on Market this February was 78, representing a 105% increase over February 2022.
Median Sales Price for Scottsdale Homes
Now, let’s take a look at the median sales price in Scottsdale in February.
Scottsdale’s February median sales price was $1.1 million. This is higher than last year’s median sales price of $1 million and quite a bit higher than January 2023’s $925,000.
Number of Homes Sold
This last section takes a look at home sales. The top graphic is a year-over-year comparison and the lower graphic is a month-over-month comparison.
February’s home sales in Scottsdale came in 36% lower than they were at the same time last year. But we need to keep in mind, the market during February 2022 was red hot and homes seemed like they were selling the second they hit the market.
On a positive note, sales were up 34% when compared to January, even though February has three fewer calendar days.
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.
