Quick Video Update of the Scottsdale Real Estate Market

– January 2024 Scottsdale Housing Market Video –

Here is a less-than-a-minute video overview of the Scottsdale, Arizona single-family home real estate market that covers the month of January.

January 2024 – Video

Scottsdale Active Listings

With the beginning of the new year, we saw a nice jump in the number of homes for sale in Scottsdale.

Inventory was up 18% over December. This is good news for buyers since we are still below normal levels.

The number of homes for sale was also up compared to the same time in 2023.

Average List Price for Scottsdale Homes

Scottsdale average list price January 2024

I used to use median list price data, but I no longer have access to that information. As a replacement, we will use the average list price. (Technically, the median price is a better indicator since the average price can skew one way or the other due to extremely cheap or extremely high list prices, but this will still give you a decent idea of the prices of homes in Scottsdale.)

The average list price for homes in Scottsdale came in just under $2.5 million. This represents an increase of 1.9% month-over-month. However, there was an increase of 8% when compared to January 2023.

Days on Market

Days on Market (also referred to as DOM) is a quick measure to see how a market is performing. If a market is “hot,” you will see a lower DOM. However, if the market is cool, the DOM will be higher.

Scottsdale’s Days on Market came in at 73 for January. This is down 2.7% from December and down 6.8% from January 2023.

Average Sales Price for Scottsdale Homes

Now we will take a look at what homes sold for on average.

We did see a bit of a drop (7.5%) in average sales price between December and January. However, we did see an 8.7% increase when comparing January 2023 and January 2024.

Number of Homes Sold

This last section covers the number of homes that sold in Scottsdale.

In January, we saw 244 home sales. This is a 9.4% drop compared to December’s sales. However, this drop is not surprising. Buyers and sellers tend to take a break over the holidays. Even though sales were lower than the previous month, they were up 15.6% year-over-year.

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.