– July 2016 Scottsdale Housing Market Video –
July 2016 – Video
Here is a one minute video overview of the Scottsdale, Arizona real estate market for the month of July.
Active Listings
This first part shows the number of homes on the market in July.
When compared to the same time in 2015, inventory was up 7%.
However, if you compare this to the end of June, inventory was down 11%. This is a seasonal dip.
Median Listing Price
To the left is the median list price. The median represents the middle of all home prices, where half of the homes are priced higher and half are priced lower.
The median asking price in July was just under $790K. This is up quite a bit over July 2015’s $725K.
Days on Market
Days on Market (DOM) takes a look at how quickly homes are selling. A large number of days indicates a slower market and a small number of days means that things are moving.
You also tend to see a high DOM for luxury homes as there are fewer qualified buyers for these homes and it takes a little longer for them to sell.
In July 2016, DOM came in at 104 days. This is up from July 2015’s 98 days.
Median Sales Price for Scottsdale Homes
This chart shows the median sales price of homes.
The median sales price for July 2016 ended up at over $513,000.
This is higher than July 2015’s $475,000 median list price, but was slightly lower than May’s $519,900.
Number of Homes Sold
This last section looks at home sales two ways. The first is year-over-year and the second is month-over-month performance.
Sales in July 2016 were up 8% over July 2015.
And if you look at it on a month-over-month basis, sales were up 4% from June 2016.
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
Disclaimer: Data deemed to be accurate, but is not guaranteed.
