– March 2016 Scottsdale Housing Market Video –
March 2016 – Video
Here is a one minute video overview of the Scottsdale, Arizona real estate market for the month of March.
Active Listings
This image shows the number of homes for sale in Scottsdale.
Inventory was largely the same between the end of February 2016 and March 2016. But if you look at the change between the end of March 2015 and March 2016, the number of homes for sale was up 7%.
Median Listing Price
The median list price is a popular statistic used when looking at real estate performance. The median shows the exact middle of home prices. Half of all homes are priced higher and half of all homes are priced lower.
In March 2016, the median list price came in at $830,000. This is up quite a bit from March 2015’s median list price. which was $779,000. This jump in median list price when looking at the same time period in the year prior is something we are seeing frequently.
Days on Market
The days on market measurement captures the average number of days a home is on the market before it sells. A high days on market indicates less demand and conversely, low days on market indicates stronger demand.
In March 2016, the average was 100 days, which is a 9% decrease over March 2015.
Median Sales Price for Scottsdale Homes
Now we will take a look at the median sales price in March 2016. It came in at $477,000.
This is up slightly from March 2015’s $469,500, but is down when you look at February 2016’s $518,000 median sales price.
Number of Homes Sold
This final section looks at how many homes sold over time.
This first image is looking at home sales year-over-year. As you can see, sales were up 2% over March 2015.
This second image looks at home sales compared to the previous month. Sales were up an impressive 46% between February and March. This is a seasonal swing we see during the high season.
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.
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Disclaimer: Data deemed to be accurate, but is not guaranteed.
